|Study Period:||2016 - 2026|
|Fastest Growing Market:||Asia Pacific|
|Largest Market:||North America|
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The insect feed market is projected to register a CAGR of 12.0% during the forecast period. The overall growth of the insect rearing sector in North America has greatly related to the growth of the insect feed sector in the region. The increasing production of insects in the Hawaii state of the United States, coupled with the rising utilization of insects for the production of insect feed, is driving the growth of the market in the region. The insect feed market does not have a direct impact due to the pandemic. However, the COVID-19 pandemic poses numerous challenges to the food sector, especially meat product producers across the world. The meat products manufacturing industry has faced major challenges, including the risk of continuing production, distribution, transportation, and other supply chain activities, such as lack of workforce and delays in development activities. These factors are anticipated to impact the meat products industry, thereby driving the demand for alternative protein substitutes, including insect feed products. The insect feed sector, at present, has challenges, such as commercial-scale production, when compared to conventional animal feed products. Expansion of the aquaculture and poultry sector is the main factor anticipated to drive development in the insect feed market.
Scope of the Report
Insect feeds are meals enriched with high proteins that are blended from various raw materials and additives. These blends are formulated according to the specific requirements of the target animal, especially to use as an aquafeed. They are manufactured by feed compounders as meal types, pellets, or crumbles. For the purpose of this report, only insect feed has been considered. The report covers an extensive study of segments and factors driving the growth of the commercial insect feed market. An in-depth analysis of the futures market and trend was exclusively measured in this report. The insect feed market is segmented by animal type (aquaculture, poultry, swine, and other animal types) and geography (North America, Europe, Asia-Pacific, South America, and Middle-East and Africa).
|Other Animal Types|
Key Market Trends
Growing Demand for Animal Feed
The increased consumption of meat and meat products across the globe has resulted in increased livestock production, which demands quality feed products to get a better yield. Insects contain more protein and low fat compared to traditional meats, such as poultry and livestock. Hence, they can be produced for human consumption or as a protein source into feedstock mixtures. The need for grain and protein feeds is likely to increase as the demand for meat is rising. For instance, livestock is fed about 6 kg of plant protein to get 1 kg of animal protein. The demand for good quality protein is rising in the poultry industry, thus increasing the demand for insect feed. Edible insects may have demand comparable to soymeal and fishmeal that are used as key ingredients in feed formulae for animal feed and aquafeed.
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Asia-Pacific Dominates the Market
In Asia-Pacific, the growing meat consumption compelled the demand for nutritious insect feed in recent years. Along with this, investments by the insect feed companies in the region fueled the market growth. For instance, in 2017, Protix partnered with Buhler Insect Technology Solutions, based out of China, to enhance the insect feed production in the country, where Buhler, with the help of the former, installed a pilot facility to process fly larvae and mealworms for animal feed. Such developments in the country are fueling the insect feed market’s revenue in China. Hence, the region is anticipated to witness robust growth owing to the increasing demand for insect feed across various countries such as China, South Korea, and Japan, coupled with increased animal protein demand.
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The insect feed market is fragmented, with nearly half of these companies were established in the last few years and are yet to increase their production and market value. Next Protein and InnovaFeed are some of the remarkable insect feed production startups. Insect feed manufacturing companies are primarily investing their funds in R&D. Along with R&D, they are also concentrating on market expansion and product promotion to increase their market shares. Acquisitions, partnerships, and expansions are some of the important strategies adopted by insect feed producing companies for their research support and marketing purposes.
- In June 2019, Ynsect, a french insect feed producer, established a new mealworm production facility with a production capacity of 1,500 metric tons of insect protein per month in France.
- In February 2018, Protix launched the first insect-fed salmon under the brand Friendly salmon, which is derived from the protix's black soldier fly larvae meal, proteinx.
- In Jan 2017, Protix company partnered with Buhler Insect Technology Solutions to enhance insect feed production in China and installed a pilot facility to process fly larvae and mealworms for animal feed.
Table of Contents
1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
2. RESEARCH METHODOLOGY
3. EXECUTIVE SUMMARY
4. MARKET DYNAMICS
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Threat of New Entrants
4.4.2 Bargaining Power of Buyers/Consumers
4.4.3 Bargaining Power of Suppliers
4.4.4 Threat of Substitute Products
4.4.5 Intensity of Competitive Rivalry
5. MARKET SEGMENTATION
5.1 Animal Type
5.1.4 Other Animal Types
5.2.1 North America
126.96.36.199 United States
188.8.131.52 Rest of North America
184.108.40.206 United Kingdom
220.127.116.11 Rest of Europe
18.104.22.168 Rest of Asia-Pacific
5.2.4 South America
22.214.171.124 Rest of South America
5.2.5 Middle-East and Africa
126.96.36.199 United Arab Emirates
188.8.131.52 Rest of Middle-East and Africa
6. COMPETITIVE LANDSCAPE
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Alltech Coppens
6.3.7 Tiny Farms
6.3.10 Enterra Feed Corporation
7. MARKET OPPORTUNITIES AND FUTURE TRENDS
8. AN ASSESSMENT OF COVID-19 IMPACT OVER THE MARKET
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Frequently Asked Questions
What is the study period of this market?
The Insect Feed Market market is studied from 2016 - 2026.
What is the growth rate of Insect Feed Market?
The Insect Feed Market is growing at a CAGR of 12% over the next 5 years.
Which region has highest growth rate in Insect Feed Market?
Asia Pacific is growing at the highest CAGR over 2021- 2026.
Which region has largest share in Insect Feed Market?
North America holds highest share in 2020.
Who are the key players in Insect Feed Market?
Multibox, nextProtien, EnviroMeal, Alltech Coppens, Protix are the major companies operating in Insect Feed Market.