Global Insect Protein Market is anticipated to grow at a CAGR of 27.50% from 2022 to 2028 globally – Axiom MRC

 

The factors such as increasing demand for the alternate protein because of the different benefits and advantages, along with the increasing food security and sustainability and the increasing adoption of sustainable industrial farming have been responsible for the growth of the global insect protein market during the forecast period.

New York, Feb 2022: Axiom Market Research & Consulting™ added a report on Global insect protein market which includes study on insect type, application, and geography. The global insect protein market was projected to grow at a CAGR of 27.50% for the forecast period 2022 to 2028. The global market is estimated and forecasted in terms of revenue (USD Million) and volume (Tons) generated by the Global insect protein market.

The report analyses the global insect protein market based on the insect type, application and geography. By insect type, the global insect protein market is segmented into crickets, black soldier flies, mealworms, ants and grasshoppers. By application, the global insect protein market is segmented into food and beverages, animal nutrition, pharmaceutical and cosmetics. Geographically, the global insect protein market is studied for the regions including North America, Europe, Asia Pacific, and Rest of the World.

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The key players in the global insect protein market are Seek Food LLC, Agriprotein Holdings Ltd., EnviroFight LLc, Innovafeed, Ynsect, Hexafly, Protix, Jimini’s, Entomo Farms, Aspire Food Group, Protifarm, Chapul Cricket Protein, Next Protein Inc, Thailand Unique, Haocheng Mealworms Inc., Crik Nutrition among others.

Regional Trends of Global Insect Protein Market

Based on the geography, the global insect protein market is studied for the regions including North America, Europe, Asia Pacific, and Rest of the World. North America is likely to witness increasing demand for the global insect protein market during the forecast period. The factors such as continuously expanding market growth in the countries such as Mexico, Canada and the United States, increasing demand for the various food and beverages, increasing demand for alternate protein, food security and sustainability and increasing adoption of sustainable industrial farming have been propelling the growth of the global insect protein market during the forecast period. Europe is expected to witness specific growth rate in the market during the forecast period. The increasing demand for the market has been propelling the growth of the market during the forecast period.

Global Insect Protein Market Segmentation Highlights

• Cricket insect type segment is expected to lead the global insect protein market during the forecast period. The cricket is a complete source of protein has been propelling the growth of the segment during the forecast period.
• Food and Beverages application segment is likely to gain major market share in the global insect protein market during the forecast period. The insect protein has mostly been used in the food and beverages as it has been an alternative source of dietary protein has been propelling the growth of the segment in the market.
• North America is expected to witness increasing demand for the global insect protein market during the forecast period. Increasing demand for the various food and beverages has been propelling the growth of the market in the region.

Research Objectives of Global Insect Protein Market Report:

• Analysing the outlook of the global insect protein market with the recent trends and Porter’s five forces analysis
• Market dynamics, which essentially consider the factors that are impelling the present market scenario, along with growth prospects of the market over the forecast period
• Market segmentation analysis, including qualitative and quantitative research, incorporating the impact of economic and non-economic aspects
• Country-level analysis, integrating the demand and supply forces that are influencing the growth of the global insect protein market
• Competitive landscape involving the market share of major players, along with the key strategies adopted for development over the past five years
• Comprehensive company profiles, covering the product offerings, key financial information, recent developments and strategies employed by the major market players.

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