Insect-based Protein Market Is Set To Reach USD Million  By 2033, Growing At A CAGR Of 9.23

Key Insights

The Insect-based Protein Market size was valued at USD 153.92 USD Million in 2023 and is projected to reach USD 285.55 USD Million by 2032, exhibiting a CAGR of 9.23 % during the forecast period Insect proteins are high-quality feedstock obtained from insects that can be used as an ingredient for feed for animals, pets, and fish. They are a new food and feed source, and an effort to move away from the traditional sources of proteins like meat and soy. Insects are rich in amino acids, vitamins, minerals, and other nutrients, making them a highly nutritious food source. Edible insects are considered one most interesting protein sources of a large proportion of food insecurity. It contains nutrients like zinc, amino acids, and vitamins. Insect protein is used in human food, pet food, fish feed, and animal feed. There is the nutritional content of insects depends on their species' diet, and stage of the life cycle. Insects pro-high-quality protein and nutrients for humans and animals comparable with those provided by meat and fish They are also rich in fibre and micronutrients such as copper, copper, iron and magnesium.  Edible insects exhibit many sustainability and nutritional advantages compared to conventional animal protein sources.

Insect-based Protein Trends

• Rising popularity of insect-based flours and powders as alternative protein sources
• Increasing adoption of insect-based pet food due to its high protein and nutrient content
• Growing use of insect-based proteins in food and beverage applications

Driving Forces: What's Propelling the Insect-based Protein Market

• Environmental concerns over traditional protein sources (e.g., livestock farming)
• Increasing prevalence of food allergies and intolerances
• Growing demand for healthier and more sustainable food options
• Government initiatives to promote insect-based protein consumption

Challenges and Restraints in Insect-based Protein Market

• Cultural barriers and consumer reluctance to consume insects
• Lack of standardized regulations and safety guidelines
• Challenges in upscaling production and maintaining quality control
• Technical limitations in harvesting and processing

Emerging Trends in Insect-based Protein

• Development of novel insect-based protein extraction techniques
• Innovations in insect farming and breeding to improve yield and efficiency
• Partnerships between food companies and insect protein suppliers

Growth Catalysts in Insect-based Protein Industry

The insect-based protein market is experiencing a significant surge, driven by a confluence of powerful catalysts that are shaping its rapid expansion. This burgeoning industry is poised for substantial growth, fueled by innovation, increasing awareness, and strategic support.

• Surge in Investment and Innovation: A robust influx of capital is being directed towards insect protein startups and dedicated research and development initiatives. This financial backing is accelerating technological advancements in breeding, farming, processing, and product development, paving the way for more efficient and scalable solutions.
• Strategic Collaborations and Partnerships: The ecosystem is flourishing through dynamic collaborations between academic researchers, established industry players, and supportive government agencies. These partnerships are crucial for knowledge sharing, accelerating innovation, and navigating regulatory landscapes.
• Enhanced Consumer Education and Awareness: A growing global population is becoming increasingly informed and receptive to the advantages of insect-based proteins. Targeted educational campaigns and increasing visibility in mainstream media are highlighting the nutritional, environmental, and economic benefits, fostering wider consumer acceptance.
• Supportive Government Policies and Incentives: Governments worldwide are recognizing the critical role of sustainable protein sources. Policies and incentives aimed at promoting sustainable agriculture, reducing reliance on traditional livestock, and encouraging alternative protein production are providing a significant tailwind for the insect protein industry.

Market Segmentation: Insect-based Protein Analysis

Product Type:

• Coleoptera
• Lepidoptera
• Hymenoptera
• Orthoptera
• Others

Application:

• Food and beverages
• Animal feed
• Dietary supplements

Leading Players in the Insect-based Protein Market

• Aspire Food Group (Texas)
• Ynsect NL Nutrition & Health B.V. (France)
• EntomoFarms (France)
• Chapul Cricket Protein (United States)
• Jimini's (United States)
• EnviroFlight LLC (United States)
• Innovafeed (France)​ 
• Next Protein Inc. (France)​ (
• AgriProtein Holdings Ltd (England)​ 
• Swarm Nutrition GmbH (Germany)​

Significant Developments in Insect-based Protein Sector

The insect protein sector is marked by rapid and transformative developments, showcasing the industry's dynamism and growing maturity. Key milestones highlight the increasing scale of operations and market penetration.

• Protix's Series C Funding (2023): Protix, a leader in insect protein, secured a substantial USD 60 million in Series C funding. This investment is instrumental in scaling up their production capabilities and expanding their global reach, underscoring investor confidence in the sector's future.
• Aspire Food Group's Series B Funding (2022): Aspire Food Group successfully raised USD 60 million in Series B funding. This capital injection is enabling them to significantly enhance their production capacity and strengthen their distribution networks, further solidifying their market presence.
• Ynsect's New Production Facility (2021): Ynsect inaugurated a state-of-the-art production facility in France, boosting its annual insect protein production capacity to an impressive 100,000 tons. This expansion represents a major step forward in meeting the growing demand for insect-derived ingredients.
• EFSA Approval for Commercialization (2020): A landmark development occurred in 2020 when the European Food Safety Authority (EFSA) provided approval for the commercialization of insect-based food products across the European Union. This regulatory green light has opened up significant opportunities for market growth and product innovation within the EU.

Comprehensive Coverage Insect-based Protein Market Report

Our in-depth market report offers a thorough examination of the insect-based protein industry, providing actionable insights for stakeholders. We delve into the intricacies of market dynamics, competitive landscapes, and future trajectories.

• Detailed Market Segmentation: Our analysis is meticulously segmented by product type (e.g., insect flour, insect oil, whole insects), diverse applications (e.g., animal feed, food & beverages, pharmaceuticals, agriculture), and key geographical regions, offering a granular view of market opportunities.
• Robust Data and Future Outlook: The report provides comprehensive historical market data, analyzes current trends, and offers reliable future projections, enabling strategic decision-making based on solid evidence and expert foresight.
• In-depth Company Profiling: We present detailed profiles of leading companies within the insect protein sector, outlining their operational strategies, product portfolios, market positioning, and future growth plans.
• Strategic Analytical Frameworks: The report incorporates powerful analytical tools, including a SWOT analysis (Strengths, Weaknesses, Opportunities, Threats) and Porter's Five Forces analysis, to assess the industry's competitive intensity and strategic landscape.
• Holistic Market Assessment: Further enriching the analysis, we provide a PEST analysis (Political, Economic, Social, Technological) to understand the macro-environmental factors impacting the market, alongside a DROCs (Drivers, Restraints, Opportunities, Challenges) framework for a complete understanding of the market's complexities.

Regional Insight

• North America (U.S., Canada)
• Europe (U.K., Germany, France, Italy)
• Asia-Pacific (China, India, Japan)
• Latin America (Brazil, Mexico)
• Middle East and Africa (UAE, Saudi Arabia, South Africa)

Consumer Side Analysis

• Consumer attitudes and perceptions towards insect-based proteins
• Market segmentation based on demographics, lifestyle, and dietary preferences

DROCs

Drivers:

• Escalating sustainability concerns
• Growing demand for alternative protein sources
• Government support and incentives
• Increasing adoption in pet food and aquaculture
• Nutritional benefits and functional properties of insect-based proteins

Restraints:

• Cultural barriers and consumer reluctance
• Regulatory challenges and safety concerns
• Technical limitations in production and processing
• Limited availability of cost-effective production methods
• Ethical considerations regarding insect welfare and sustainability

Opportunities:

• Innovations in production and extraction techniques
• Partnerships and collaborations between stakeholders
• Growing consumer awareness and education
• Diversification into new applications such as cosmetics and pharmaceuticals
• Expansion into emerging markets with growing demand for sustainable protein sources

Challenges:

• Scaling up production and maintaining quality control
• Addressing consumer perceptions and biases
• Competing with traditional protein sources
• Ensuring ethical and sustainable sourcing practices
• Developing cost-effective and scalable production technologies