Insect Based Pet Food Market will Register 9.3% CAGR as Sales of Clean Label Pet Food Grows

Nov 25,2021 | Food and Beverage

According to Future Market Insights (FMI), the insect-based pet food market is estimated to reach US$ 7.09 Bn in year 2021. Exhibiting a compound annual growth rate of 9.3%, the market value will surpass US$ 17.29 Bn by 2031.

Insect Based Pet Food Market

A recent market study published by Future Market Insights on the Insect-based Pet Food mar...

Insect Based Pet Food Market

Consumer demand for openness has sparked the clean label movement. The fundamental goal of the clean label movement is to maintain consumer trust in food and feed goods. The market for clean label products has grown as people have become more aware about insect-based pet food and nutrition.

These days, pet owners are more cautious about what they buy for their pets, whether it is beneficial or bad for them, whether it contains all of the necessary nutrients, and so on. Clean label products are becoming more popular around the world as a result of all of these factors.  

In addition to this, pet owners are better aware about the nutritional benefits of insect-based pet food they purchase. Nutrition has become increasingly essential in recent years and sales of items that fail to meet customer expectations in this area are frequently hampered.

As a result, insect-based pet food manufacturers have begun to include high nutritional content in their products. Manufacturers have begun to derive nutrients from sources such as plants to boost the nutritious value of pet food for this reason.

Key Highlights

  • Insect-based pet food market will account for 7% of sales in pet food market in 2021.
  • The demand for insect-based pet food in the US will grow by 7.1% CAGR through 2031 positioning the US as the leading market in North America.
  • Pet humanization trends will drive sales in China insect-based pet food market at 12.5% CAGR between 2021 and 2031.
  • Germany and the UK are expected to account for over 35% of sales in the Europe market.

“The expansion of global retail chains, both, physical and digital, along with expansion of product lines by leading pet food brands is expected to drive the global insect-based pet food market. The rising demand for pet foods has encouraged companies to focus on large-scale manufacturingm" said a lead analyst at FMI.

Clear and Exclusive Information about Ingredients Used on Package Attracts More Customers

Consumers have been increasingly conscious of what they feed their pets in recent years. They appreciate a pet food packaging that includes information on the product's features and benefits. The information on the packaging should be correct, exclusive, and displayed clearly because buyers spend relatively little time looking at it. This can also assist the consumer in making a better educated choice.

Furthermore, one method of delivering nutritional information about pet food is to use graphics to indicate the contents of insect-based pet food as well as the substances that are not present in them. As a result, packaging design has begun to incorporate narrative illustration in the form of a storey using graphics.

Who is Winning?

Marketing has become extremely crucial for enhancing a product's sales. This is important in order to improve customer awareness about products. The appearance of products, along with their quality and flavour, also has become a crucial element influencing a consumer’s purchase decision. As a result, businesses are increasing their investments in new packaging choices.

For instance, several companies are using recyclable boxes for the packaging of insect based pet food. This is intended to make insect based pet food products more attractive and to increase their shelf life. The appearance on the shelves in the hypermarkets/supermarkets, convenience stores and in e-commerce has proven to increase the prospects of consumers buying the product.

Some of the leading companies offering insect-based pet food are Innovafeed, Ynsect, Protix, Purina, Mars Incorporated, Agri Protein Holdings Ltd, Enterra, Entocycle, Beta Hatch, Entobel, Hexafly Biotech, Next Protein, Scout & Zoe’s, and othes.

Get Valuable Insights into Insect-based Pet Food Market

Future Market Insights, in its new offering, provides an unbiased analysis of the insect-based pet food market presenting historical demand data (2016-2020) and forecast statistics for the period from 2021-2031. The study divulges compelling insights on the insect-based pet food market based on nature (organic, monoprotein, and conventional), source (crickets, mealworms, and black solider flies), product type (kibble/dry, dehydrated food, treats and chews, freeze-dried raw, wet food, frozen, raw food, powder, and freeze-dried food), pet type (cat, dog, birds, and others), and by distribution channel (store-based retailing and online retailers) across seven major regions.

About Food Market Division at FMI

Expert analysis, actionable insights, and strategic recommendations – the food & beverage team at Future Market Insights helps clients from across the globe with their unique business intelligence needs. With a repertoire of over 1,000 reports and 1 million+ data points, the team has analysed the food & beverage industry lucidly in 50+ countries for over a decade. The team provides end-to-end research and consulting services; reach out to explore how we can help.

About Future Market Insights (FMI)

Future Market Insights (FMI) is a leading provider of market intelligence and consulting services, serving clients in over 150 countries. FMI is headquartered in Dubai, and has delivery centers in the UK, U.S. and India. FMI's latest market research reports and industry analysis help businesses navigate challenges and make critical decisions with confidence and clarity amidst breakneck competition. Our customized and syndicated market research reports deliver actionable insights that drive sustainable growth. A team of expert-led analysts at FMI continuously tracks emerging trends and events in a broad range of industries to ensure that our clients prepare for the evolving needs of their consumers.