Global Insect Feed Market to Surge at 10% CAGR
The global insect feed market is projected to reach US$ 2204.7 Mn by the end of 2030. The market was valued at US$ 850 Mn in 2020. It will exhibit a CAGR of 10% between 2020 and 2030. The rising demand from fish farms has contributed to an increase in fishmeal and fish oil prices. Insect feed therefore serves as a viable protein-rich aqua feed alternative. This is identified as one of the chief factors driving the market.
Insect Feed Market - Key Research Findings
- The market will attain a CAGR of 10% between 2020 and 2030
- Expansion of the aquaculture and poultry sector is the main factor anticipated to drive development on the global insect feed market
- The presence of well-established aquaculture industries in China and Southeast Asian countries supports the growth of the market in Asia Pacific
- Increasing demand for farmed fish has led to a rise in fish oil and fish meal prices. Insect feed therefore serves as a viable and more profitable protein-rich aqua feed alternative
- Europe is projected to be the fastest-growing market
- Insect feed has several essential nutrients. Production of insect feed causes lesser greenhouse emission which is one of the key reasons behind the market gaining traction
Key Factors Shaping the Insect Feed Market
- Growing Demand for the Animal Feed will Propel Growth
The demand for good quality protein is rising in the poultry industry, thus increasing demand for insect feed. Edible insects may have a parallel demand to soymeal and fishmeal that are used as the key ingredients in feed formulae for animal feed and aquafeed. Insect protein is being used in the zoos and pet markets. This is the demand for insect feed.
With the spread of COVID-19 and the growing number of patients, the global economy is affected by shutdowns and transport system breakdowns. The effect on supply chains for insect feeds, and manufacturing companies worldwide are expected to be strongly felt in the coming days. The lockdown of regions and countries has pushed transportation to a halt. There are lots of businesses that are on the verge of shutting down or have temporarily shut down. The businesses most affected are those heavily dependent on Chinese factories for raw materials, components, or finished products. The spread of COVID-19, however, has led to significant disruptions in global supply chains. This will impact the demand for insect feed as well.
- Emerging Applications of Insect Protein to Account High Growth
Insect feed is increasingly used in poultry and pig nutrition. Both these sectors witness high demand on account of the rising population around the world. Furthermore, consumers nowadays have become more conscious about the nutrition present in food they eat. The rising demand for healthier meat products and over increase in demand for the same has spurred insect feed sales across the world. Insect feed supplies nutrition promoting healthy growth in livestock. With farmers seeking out alternative sources of protein, the insect feed market will witness attractive growth opportunities in the future.
Insect Feed Market - Structure Analysis
- Insect feed companies are focusing on introducing new and ingredient-specific products.
- Furthermore, these companies are focusing on improving their package designs to meet with environmental regulations.
- They are also focusing on strategies collaborations to gain competitive edge. For instance, Buhler collaborated with Protix in January 2017 to develop industrial scale solutions for feed processing, larvae processing and larvae rearing, for the production of quality insect supplies.
Base year considered
Actual estimates/Historical data
2015 - 2019
2020 - 2030
Market Value in 2020
US$ 2204.7 Mn
Product, Application and Region
North America, Latin America, Europe, East Asia, South Asia, Oceania and MEA
Nextprotein, Buhler AG, Hexafly, Entofood, Diptera Nutrition, Enviroflight, Coppens, and Agriprotein
Aquaculture Segment Leads in Terms of Application
The aquafeed industry is actively seeking new sources of nutrition. This is propelling the growth of the market for edible insect feed. Fish meal and soymeal which are used as commonly used as aquafeed have steep price. As a result of this, the demand for alternative feed options is rising. The production of aquaculture is continuously growing, increasing the demand for alternative and inexpensive sources of protein, such as edible insects for animal feed. Besides aquaculture, the demand for insect feed is expected to rise in poultry and pig nutrition as well.
Europe Emerges as Leading Market for Insect Feed
Europe currently holds dominance in the market however in the coming years Asia Pacific is likely to offer lucrative growth opportunities. Rising meat consumption in Asia-Pacific has encouraged the demand for healthy insect feed in the last few years. To meet the country's growing demand for nutritious meat, livestock are being fed protein-rich insects. This has led to the rise of the livestock insect feed industry, such as swine and poultry, in China, thus driving the country's overall insect feed market. The decrease in the rural population increases the income shares of the current rural population, thus driving the country's insect feed market as it is a major source of income in the countryside.
* This data is only a representation. Actual data may vary and will be available in report.
Rising Demand for Sustainable Animal Feed to Favour Growth
Insect feed has recently gained recognition as a sustainable animal feed because of its high energy and protein content. Insect feed is used as a source of food for various animals, including fish, poultry and livestock. Insect feeds are good sources of protein and contain various minerals and amino acids as natural ingredients. Insect feeds are a major element of poultry diets. Usage of insect feeds has a beneficial impact on animal health. Insects are a direct potential source of conventional protein production, as a source of protein in feedstock mixtures.
Others (Including, silkworms, cicadas etc.) segment held the leading market share
Meal worms segment forecast to higher rate of growth
Poultry nutrition segment holds dominance
Aquaculture segment to rise at a higher CAGR
How Growth will Unfold
Changing agricultural strategy, growing disposable income, rising population, and increasing demand for nutritional animal feed in the market are the key factors fuelling the demand for insect feeds. In terms of source, insect feed is obtained from fly larvae and meal worms. The demand in both categories is expected to surge in response to the rising demand for nutritional animal feed.
Due to the high feed conversion ratios, reduced greenhouse gas (GHG) emissions and high feed quality, the insect feed market is expected to witness high growth in the coming years. Besides, insects species can be nurtured on organic side streams, minimizing damage to the environment and transforming waste into high-protein feed. In addition, reduced disposable costs from organic side streams in the near future will boost the scope of the business. Because of its high nutritional value, insect feed is used for feeding farmed animals and this will also help to establish a profitable growth curve for the animal feed micronutrients industry. Evidently, the change in land use for the production of insect feed by cultivation and new methods in nutritious protein feed products will provide new market growth opportunities over the coming years.
* This data is only a representation. Actual data may vary and will be available in report.Click Here To Know How The Growth Will Unfold
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Insect Feed Market: Global Industry Analysis 2015-2019& Opportunity Assessment 2020-2030
A recent market study published by Future Market Insights on the Insect Feed Market offers global industry analysis for 2015-2019& opportunity assessment for 2020-2030. The study offers a comprehensive assessment of the most important market dynamics. After conducting a thorough research on the historical, as well as current growth parameters of the Insect Feed Market, the growth prospects of the market are obtained with maximum precision.
Insect Feed Market Taxonomy
The global Insect Feed Market is segmented in detail to cover every aspect of the market and present complete market intelligence to readers.
- Meal Worms
- Fly Larvae
- Pig Nutrition
- Poultry Nutrition
- Dairy nutrition
- North America
- Latin America
- East Asia
- South Asia
The executive summary of the Insect Feed Market includes the market proprietary wheel of fortune, demand-side and supply-side trends, opportunity assessment, and recommendations on the global Insect Feed Market.
Readers can find the detailed segmentation and definition of the Insect Feed Market in this chapter, which will help them understand basic information about the Insect Feed Market. This section also highlights the inclusions and exclusions, which help the reader understand the scope of the Insect Feed Market report.
The associated industry assessment of the Insect Feed Market is carried out in this section. The macroeconomic factors affecting growth of the Insect Feed Market are provided in this section and the impact of these macroeconomic indicators on the Insect Feed Market is analysed. The processing overview and technological advancements in the Insect Feed Market is also provided.
Profit margins at each level of the Insect Feed Market are analysed and readers can find detailed information on top importers and exporters as well as the value chain of the Insect Feed Market.
The drivers and restraints impacting the growth of the Insect Feed Market are explained in this chapter. Opportunities and ongoing trends in the Insect Feed Market are also comprehensively discussed.
This chapter includes detailed analysis of the historical Insect Feed Market (2015-2019), along with an opportunity analysis for the forecast period (2020-2030). Readers can also find the absolute $ opportunity for the current year (2019 - 2020) and incremental opportunity for the forecast period (2020-2030).
Based on Product Type, the Insect Feed Market is classified into Meal Worms, Fly Larvae, Silkworms, Cicadas, and Other. This part also offers market attractiveness analysis based on Product Type.
Based on Application, the Insect Feed Market is classified into Aquaculture, Pig Nutrition, Poultry Nutrition, Dairy nutrition, and Others. This part also offers market attractiveness analysis based on Application.
This chapter explains how the Insect Feed Market is anticipated to grow across various geographic regions such as North America, Latin America, Europe, South Asia, East Asia, Oceania, and Middle East and Africa.
This chapter includes a detailed analysis of the growth of the Insect Feed Market in North America, along with a country-wise assessment that includes the U.S. and Canada. Readers can also find regional trends, regulations, and market growth based on end users and countries in the North America region.
Readers can find detailed information about several factors, such as the pricing analysis and regional trends, which are impacting growth of the Insect Feed Market in Latin America. This chapter also includes growth prospects of the Insect Feed Market in leading LATAM countries such as Brazil, Mexico, and the Rest of Latin America.
Important growth prospects of the Insect Feed Market based on its end users in several countries such as Germany, U.K., France, Italy, Spain, BENELUX, Nordic, Russia, Poland, and the Rest of Western Europe are included in this chapter.
In this chapter, readers can find information about key trends and developments in the key countries of South Asia such as India, Thailand, Malaysia, Indonesia, Singapore, and Rest of South Asia Insect Feed Market.
This chapter includes a detailed analysis of the growth of the Insect Feed Market in the East Asia region, along with a country-wise assessment that includes, Japan, China, and South Korea. Readers can also find regional trends, regulations, and market growth based on end users and countries in the APEJ region.
This chapter offers insights into how the Insect Feed Market is expected to grow in major countries in the Middle East region such as Australia and New Zealand, during the forecast period 2020-2030.
This chapter contains information about the market growth of Insect Feed in Middle East region such as GCC Countries, South Africa, North Africa, and the Rest of Middle East, during the forecast period 2020-2030.
In this chapter, readers can find detailed information about tier analysis and market concentration of the key players in the Insect Feed Market along with their market presence analysis by region and product portfolio.
In this chapter, readers can find a comprehensive list of leading manufacturers in the Insect Feed Market, along with detailed information about each company, which includes company overview, revenue shares, strategic overview, and recent company developments. Some of the market players featured in the report are Multibox, Nextprotein, Enviroflight, AlltechCoppens, Protix, Innova Feed, Tiny Farms, Ynsect, Agriprotein, Enterra Feed Corporation, Hexafly, Entofood, and Other.
This chapter includes a list of acronyms and assumptions that provide a base to the information and statistics included in the Insect Feed report.
This chapter helps readers understand the research methodology followed to obtain various conclusions, as well as important qualitative and quantitative information, on the Insect Feed Market.
How the research was conducted?
- C - Level Executives
- Marketing Directors
- Sales Heads
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- Sales Executives
- Product Manufacturers
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- Current Market Dynamics and Challenges
- Market Characteristics
- Market Performance and Growth Quadrants
- Competition Structure and Market Structure
- Strategic Growth Initiatives
- Near-term and Long-term Market Growth Prospects
- Market Segment Splits and Authenticity
- Opinions on Market Projections and Validity Of Assumptions
- Industry Publications
- Industrial Week
- Industrial Product Review
- Industrial Magazine
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- Food and Agriculture Organization
- Company Press Releases
- Annual Reports and Investor Presentations
- Research Papers
- Government Websites and Publications
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Primary Interview Splits