According to the latest report by IMARC Group, titled “Insect Feed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” the global insect feed market size reached US$ 877.1 Million in 2022. Insect feed is an animal feed made from insects, such as black soldier flies, mealworms, and crickets, primarily for livestock and aquaculture. It is produced through various methods, including feeding insects with organic waste and by-products from agriculture, food processing, and breweries. The insects are then harvested, dried, and processed into protein-rich meals, pellets, or crumbles that can be used as a supplement or a complete feed for animals. These insects are a rich source of protein, fat, and essential amino acids and can help improve animal health and welfare, reduce feed costs, and increase the profitability of livestock and aquaculture operations. Insect feed is a sustainable alternative to traditional animal feed sources, such as soybeans and fishmeal, which are often associated with deforestation, overfishing, and high greenhouse gas (GHG) emissions.
Global Insect Feed Market Trends:
The growing consumption of meat products among individuals is primarily driving the market growth. Insect feed does not transmit zoonotic diseases and includes bioactive components, such as lauric acid, antimicrobial peptides, and chitin, that can improve gut health, which, in turn, is facilitating its widespread adoption. Moreover, the expanding demand for sustainable feed solutions due to escalating consumer concerns about the environment and animal welfare is presenting remunerative growth opportunities for the market. Additionally, the introduction of numerous regulations by governing authorities to improve the quality and safety of animal feeds and the high feed conversion ratio of insects in caparison to livestock and poultry are strengthening the market growth. Furthermore, extensive investments in research and development (R&D) efforts by leading market players to expand their market reach and explore innovative feed sources, such as insect feed, are contributing to the market growth. Concurrently, the rising population, shifting dietary patterns of individuals, and the widespread adoption of insect feed as a sustainable and nutritious alternative to fishmeal or traditional pet food are aiding in market expansion. Looking forward, the market value is projected to reach US$ 1,649.4 Million by 2028, expanding at a CAGR of 11.3% during 2023-2028.
- On the basis of the product type, the market has been segregated into meal worms, fly larvae, silkworms, cicadas, and others.
- Based on application, the market is categorized into aquaculture, pig nutrition, poultry nutrition, dairy nutrition, and others.
- On a Regional basis, the market has been segmented into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
- The competitive landscape of the market has also been examined, with some of the key players being Alltech Coppens, Bühler Holding AG, Enterra Corporation, Entofood Sdn Bhd., EnviroFlight LLC (Darling Ingredients Inc.), Hexafly, InnovaFeed, Multibox, nextProtein, Protix and Ÿnsect.
|Base Year of the Analysis
||Product Type, Application, Region
|| Asia Pacific, Europe, North America, Latin America, Middle East and Africa
||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico
||Alltech Coppens, Bühler Holding AG, Enterra Corporation, Entofood Sdn Bhd., EnviroFlight LLC (Darling Ingredients Inc.), Hexafly, InnovaFeed, Multibox, nextProtein, Protix and Ÿnsect
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