The global insect feed market size reached US$ 877.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,649.4 Million by 2028, exhibiting a growth rate (CAGR) of 11.3% during 2023-2028.
Insect feed are insect species utilized for meeting the specific requirements of different animals. They are prepared in the form of meal, pellets, or crumbles, and help reduce dependency on traditional feed streams while bringing valuable ingredients back into the food chain from organic waste materials. In addition, they lower the environmental impact of livestock production as their mass production delivers better protein quantities. As a result, they find extensive applications in aquaculture, pig nutrition, poultry nutrition, and dairy nutrition across the globe.
Insect Feed Market Trends:
At present, there is a rise in the consumption of meat products among individuals, which has increased the utilization of high-quality feed products for achieving higher yields. This, along with the growing consumption of several insect species for human consumption due to high protein and low-fat contents, represents one of the key factors driving the market. Moreover, there is an increase in the use of insect feed as they do not transmit zoonotic diseases. This, coupled with the high feed conversion ratio of insects as compared to livestock and poultry, is propelling the growth of the market. In addition, insect feed can be produced on organic waste and emit fewer greenhouse gases and ammonia than conventional livestock, which is positively influencing the market. In line with this, the rising utilization of insects as novel feed additives to improve gut health due to bioactive components, such as lauric acid, antimicrobial peptides, and chitin, is bolstering the market growth. Besides this, key market players are extensively investing in research and development (R&D) activities to increase their overall reach in the market. Other growth-inducing factors are the growing global population and changing dietary patterns of individuals around the world.
Key Market Segmentation:
IMARC Group provides an analysis of the key trends in each sub-segment of the global insect feed market report, along with forecasts at the global, regional and country level from 2023-2028. Our report has categorized the market based on product type and application.
Breakup by Product Type:
- Meal Worms
- Fly Larvae
Breakup by Application:
- Pig Nutrition
- Poultry Nutrition
- Dairy Nutrition
Breakup by Region:
- North America
- South Korea
- United Kingdom
- Latin America
- Middle East and Africa
The competitive landscape of the industry has also been examined along with the profiles 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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