Newly released data on the global insect protein market by FMI Estimated that the insect protein market enjoyed year-on-year (YoY) growth of 8.2% in 2022 and is accounted for USD 349.2 Mn and is expected to witness a prominent CAGR of 9.2% to reach the value of USD 838.5 Mn in 2032. Revenue for the insect-based pet food segment grew by 18% during the period 2017-2021 while the Demand for beetle protein increased by 11% between 2020 and 2021.
The global insect protein market is expected to grow at a stunning 9.2% CAGR from 2022 to 2032. This growth can be attributed to the technology’s quick adoption by both producers and consumers. The economic benefits, productivity improvement, and nutritional value provided by insects are the primary drivers of expansion in the edible insect protein sector.
Because of the higher efficacy of protein and minerals in edible insects like beetles and caterpillars, global insect protein industry is expected to reach USD 349.3 million by 2022. Insect protein producers are profiting from growing public health and environmental concerns about traditional animal proteins.
Caterpillars, that have a spectacular double-digit rate of growth of much more than 10.2%, are followed by beetles, which account for more than a quarter of the marketplace. The nutritional advantages of these edible insects, as well as their widespread availability, are propelling expansion in these categories.
More than three-fifths of the worldwide insect protein market is accounted for by Europe and America. Customers are embracing insect protein items manufactured by up-and-coming start-ups such as Eat Grub and Aspire Group. This increase might be attributed to increased consumer awareness of animal agriculture’s harmful environmental consequences. In these highly industrialised areas, insect protein offers a viable option to the informed customer.
Beef only has 29% nutritional protein, while crickets have 69%. The nutrient value distinction between insect protein and regular protein powder is a significant trend driving this business. Insect cultivation for protein extraction requires 8 to 10 times lesser land, 5 times less freshwater, and produces 6 to 12 times fewer greenhouse gas emissions.
Additionally, as the global public becomes more aware of the harmful effects of animal agriculture, corporations are looking for alternatives. Insects include a wide variety of essential amino acid residues, fatty acids, minerals, and vitamins. Because of its medicinal and operational benefits, insect protein is widely accepted by producers and consumers.
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