Portland, OR, Nov. 15, 2022 (GLOBE NEWSWIRE) -- According to the report published by Allied Market Research, the global insect feed market generated $261.5 million in 2021, and is estimated to reach $2.2 billion by 2031, witnessing a CAGR of 24.5% from 2022 to 2031. The report offers a detailed analysis of changing market trends, top segments, key investment pockets, value chains, regional landscape, and competitive scenario. The report is a helpful source of information for leading market players, new entrants, investors, and stakeholders in devising strategies for the future and taking steps to strengthen their position in the market.
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Report coverage & details:
| Report Coverage | Details |
| Forecast Period | 2022–2031 |
| Base Year | 2021 |
| Market Size in 2021 | $261.5 Million |
| Market Size in 2031 | $2.2 Billion |
| CAGR | 24.5% |
| No. of Pages in Report | 231 |
| Segments Covered | Product Type, End Use, End User, and Region |
| Drivers | The increasing demand for poultry products from the food service industry. |
| Improvements in breeding techniques for the development of environmentally low-impacting livestock. | |
| Need for protein in animals for increasing productivity. | |
| Opportunities | The identification of insects as a more sustainable source of proteins than traditional sources. |
| Restraints | Availability of alternative feed options such as corn meal, soy meal, canola meal, and whey meal. |
| Poor knowledge associated with risks related to insect toxicity, nutritional quality, diseases, and allergic reactions among animals. |
Covid-19 Scenario:
- The outbreak of the Covid-19 pandemic led to the rising consumer awareness regarding the spread of various diseases due to the consumption of unfamiliar food and feed types, thereby decreasing the demand for insect feed.
- The closure of borders to combat the spread of the coronavirus impacted the insect feed industry significantly. It slowed down the import business which limited the availability of traditional feeds, creating more demand for locally sourced and potentially new options available.
- The pandemic also helped growers to look for more sustainable and affordable alternatives over traditional meals.
The report offers a detailed segmentation of the global insect feed market based on product type, end use, end user, and region. The report provides an analysis of each segment and sub-segment with the help of tables and figures. This analysis helps market players, investors, and new entrants in determining the sub-segments to be tapped on to achieve growth in the coming years.
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Based on product type, the meal worms segment held the largest share of nearly one-third of the global insect feed market in 2021. However, the fly larvae segment would dominate in terms of revenue and is estimated to witness the fastest CAGR of 26.5% during the forecast period. The report also analyzes the silkworm, cicadas, and others segments.
Based on end use, the aquaculture segment was the largest in 2021, capturing more than two-fifths of the global insect feed market share, and would rule the roost through 2031. However, the livestock segment is estimated to witness the fastest CAGR of 26.0% during the forecast period. The report also offers an analysis of the pet food segment.
Based on end user, the commercial segment was the largest in 2021, grabbing nearly four-fifths of the global insect feed market share and would dominate in terms of revenue during the forecast period. However, the residential segment is and also witness the fastest CAGR of 26.2% during the forecast period.
Based on region, the market in North America was the largest in 2021, accounting for nearly two-fifths of the global insect feed market share and would maintain a progressive revenue growth during the forecast period. However, the market in LAMEA is expected to manifest the highest CAGR of 29.9% from 2022 to 2031. The other regions analyzed in the study include Europe and Asia-Pacific.
Leading players of the global Insect feed market analyzed in the research include AgriProtein Holdings Ltd., The Bühler Holding AG, Protix, Enterra Feed Corporation, Endofood Sdn Bhd, EnviroFlight, LLC, Nasekomo, InnovaFeed SAS, Hexafly, Alltech Coppens, DeliBugs, Kreca Ento-Feed BV, Ÿnsect, Nusect, Protenga, Beta Hatch, Nutrition Technologies Sdn Bhd, JR Unique Foods Ltd., and Entobel.
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The report analyzes these key players of the global insect feed market. These players have adopted various strategies such as expansion, new product launches, partnerships, and others to increase their market penetration and strengthen their position in the industry. The report is helpful in determining the business performance, operating segments, product portfolio, and developments by every market player.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Allied Market Research CEO Pawan Kumar is instrumental in inspiring and encouraging everyone associated with the company to maintain high quality of data and help clients in every way possible to achieve success. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
