Selbyville, Delaware, Oct. 03, 2022 (GLOBE NEWSWIRE) -- According to a new research report by Global Market Insights Inc., the global Animal Feed Insect Proteins Market valuation is poised to exceed USD 870 million by 2030.
Increasing global population and changing dietary preferences are set to drive the animal feed insect proteins industry trends. Surging requirement for additional sources of protein, along with burgeoning expenditure on animal feed, is foreseen to increase the demand for animal feed insect proteins. Moreover, effective expansion efforts by manufacturers are foreseen to enhance the product offerings from this industry.
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Inadequate technology and infrastructure to process insect protein may restrain animal feed insect proteins market progression. Many insects require specific technology and machinery for production and supply procedures, but the lack of proper infrastructure hampers this process. However, ongoing advancements in extraction tools and production equipment are likely to aid industry players in overcoming this issue in the forthcoming years.
Widespread use for mass production to bolster housefly demand
Based on insect type, the report segregates the animal feed insect proteins market into beetles, black soldier fly, crickets, housefly, mealworms, scale insects & true bugs, caterpillars, bees, wasps & ants, grasshopper, locusts, and others. The housefly segment is slated to depict considerable CAGR of above 9% CAGR to garner more than USD 25 million in revenue by 2030. Houseflies are utilized to produce animal proteins with favorable nutritional value on a large scale by converting organic waste streams. They are highly nutritious as they contain elevated amounts of amino acids, which is expected to drive their adoption in animal feed applications.
Burgeoning fishmeal consumption to push aquaculture segment expansion
Animal feed insect proteins market outlook from the aquaculture livestock segment will remain positive until 2030. Rising demand for fishmeal on account of soaring consumer inclination is boosting the sales of animal feed insect proteins for aquaculture livestock, thereby resulting in sizable growth of the segment. In 2021, the animal feed insect proteins industry share from the aquaculture segment was valued at more than USD 250 million and is anticipated to progress at a CAGR of above 5% over the assessment timeline.
Browse key industry insights spread across 200 pages with 240 market data tables and 9 figures & charts from the report, “Animal Feed Insect Proteins Market Size By Insect Type (Black Soldier Fly, Housefly, Crickets, Mealworms, Beetles, Caterpillars, Grasshopper, Locusts, Bees, Wasps & Ants, Scale Insects & True Bugs), By Livestock (Poultry {Broiler, Layer, Turkey}, Aquaculture {Salmon, Trout, Shrimp}, Swine {Starter, Grower, Sow}, Pet Food {Dogs, Cats, Birds, Fish}), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2022 – 2030” in detail along with the table of contents:
https://www.gminsights.com/industry-analysis/animal-feed-insect-proteins-market
Flourishing manufacturing base to stimulate APAC industry growth
Asia Pacific animal feed insect proteins market is forecast to witness over 7% CAGR through the study timeframe. The presence of prominent manufacturing plants in the APAC region is projected to push regional market statistics. In addition, burgeoning consumption of meat and heavy investments by key industry players in product and application development are projected to propel the regional business expansion.
Substantial demand for protein-based feed that offers the necessary nutritional content in light of the rise in aquaculture farming in the region is likely to favor the industry scenario in Europe. Furthermore, supported by the upliftment of bans on certain species for the production of insect-based protein, Europe animal feed insect proteins market is expected to exhibit notable CAGR of more than 5% through 2030.
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Extension of production facilities to remain a pivotal growth strategy
The competitive landscape of the animal feed insect proteins industry includes Celitron Medical Technologies Kft, Ynsect SAS, Bentoli, INSECTIFii, Protix, EnviroFlight, and Entobel, among other firms. These companies are focusing on expanding their production facilities, introducing new product ranges, and entering into strategic collaborations to maintain their market position.
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
