Dublin, May 25, 2022 (GLOBE NEWSWIRE) -- The "Mealworms Market by Product Type (Whole Mealworm, Mealworm Powder, Mealworm Meal), Application (Animal Feed, Aquafeed, Pet Food, Food & Beverages), End Use (Animal Nutrition, Human Consumption) - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
This report provides an in-depth analysis of the mealworms market in five major geographies and emphasizes on the current market trends, market sizes, market shares, recent developments, and forecasts to 2030. The mealworms market is expected to record a CAGR of 25.8% from 2022-2030 to reach $1.27 billion by 2030. In terms of volume, the mealworms market is expected to grow at a CAGR of 28.6% from 2022-2030 to reach 367,491.7 tons by 2030.
The growth of this market is driven by factors such as the increasing greenhouse gas emissions from the livestock and poultry industries, the high nutritional value of mealworms, environmental benefits of edible mealworms consumption, and the lower risk of zoonotic diseases with insect consumption compared to the consumption of animal-derived products. However, the risk of allergic reactions due to the consumption of mealworms is expected to restrain the growth of this market to a notable extent.
The mealworms market is segmented based on product type (whole mealworm, mealworm meal, mealworm powder, and other product types), application (animal feed, aqua feed, pet food, food & beverages, and other applications), end use (animal nutrition, human consumption, and other end uses), and geography (Europe, North America, Asia-Pacific, Latin America, the Middle East & Africa).
Based on product type, in 2022, the whole mealworm segment is expected to account for the largest share of the mealworms market. This segment is also slated to register the highest CAGR during the forecast period of 2022-2030. The growth of this segment is mainly attributed to the rising preference for whole mealworms by food & feed manufacturers for further processing due to their easy availability and cost-effectiveness.
Based on application, in 2022, the animal feed segment is estimated to account for the largest share of the mealworms market. The growth of this segment is driven by the wide availability of mealworm products for use in animal feed, growing usage of mealworm-based products by feed manufacturers, and the high nutritional value of mealworms in animal nutrition. Mealworms are rich in amino acids, minerals, fats, vitamins, and energy. They have the potential to be a valuable feed source for poultry, aquaculture, and pets.
However, the food & beverages segment is slated to register the highest CAGR during the forecast period of 2022-2030. The rapid growth of this segment is driven by the rising awareness about the importance of nutrition, growing usage of protein supplements due to the health benefits of daily protein intake, and increased incorporation of mealworms in bakery products and snacks.
Based on end use, in 2022, the animal nutrition segment is estimated to account for the largest share of the mealworms market. The growth of this segment is driven by factors such as the increasing animal population, rapidly growing pet expenditure, increasing customer willingness to provide high-quality food to their pets, lower price of insect-based feed compared to other types of animal feed, and the growing demand for insect protein in the pet food industry.
Based on geography, the mealworms market is segmented into five major geographies: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Europe is expected to account for the largest share of the mealworms market. The large market share of this region is attributed to factors such as the presence of key mealworm manufacturers, increasing demand for alternative protein sources, high demand for protein-rich food & feed, the increasing number of government approvals for mealworms to be used in human, animal, and pet food applications; and the presence of supportive policies for insect farming.
However, North America is slated to register the highest CAGR during the forecast period of 2022 to 2030. The rapid growth of this market is driven by the growing demand for environment-friendly protein-rich food. In addition, the growing awareness of insects-as-food, decreasing food neophobia, and the altering attitudes of consumers towards insects as food products are expected to create significant opportunities for the growth of the mealworms market.
Key Players
Some of the key players operating in the mealworms market are Protix B.V. (Netherlands), Ynsect SAS (France), BETA HATCH (U.S.), Armstrong Crickets Georgia (U.S.), TEBRIO (Formerly MealFood Europe SL) (Spain), Tebrito AB (Sweden), Entec Nutrition (U.K.), Invertapro AS (Norway), Keil Co., Ltd (South Korea), EntoBreed Farming BV (Netherlands), and Goterra (Australia).
Key Questions Answered in the Report
- Which are the high-growth market segments in terms of product type, application, end use, and region/country?
- What was the historical market size for mealworms across the globe?
- What are the market forecasts and estimates for 2022-2030?
- What are the major drivers, restraints, opportunities, and trends for the global mealworms market?
- Who are the major players in the global mealworms market?
- How is the competitive landscape, and who are the market leaders in the global mealworms market?
- What are the recent developments in the global mealworms market?
- What are the geographical trends and high-growth regions/countries?
- Who are the local emerging players in the global mealworms market, and how do they compete with the global players?
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Increasing Greenhouse Gas Emissions From the Livestock & Poultry Industries
4.2.2. High Nutritional Value of Mealworms
4.2.3. Environmental Benefits of Edible Mealworms Consumption
4.2.4. Lower Risk of Zoonotic Diseases with Insect Consumption Compared to the Consumption of Animal-Derived Products
4.3. Restraints
4.3.1. The Risk of Allergic Reactions due to the Consumption of Mealworms
4.4. Challenges
4.4.1. Lack of Awareness
4.5. Opportunities
4.5.1. Emerging Economies
4.6. Regulatory Analysis
4.6.1. North America
4.6.1.1. U.S.
4.6.1.2. Canada
4.6.2. Europe
4.6.3. Asia-Pacific
4.6.4. Rest of the World
4.7. Pricing Analysis
4.7.1. Whole Mealworm
4.7.2. Mealworm Powder
4.7.3. Mealworm Meal
4.8. Cost Analysis
4.9. Key Customer Segments
4.10. Impact of Covid-19 on the Mealworms Market
5. Global Mealworms Market, by Product Type
5.1. Introduction
5.2. Whole Mealworm
5.3. Mealworm Meal
5.4. Mealworm Powder
5.5. Other Mealworm Products
6. Global Mealworms Market, by Application
6.1. Introduction
6.2. Animal Feed
6.3. Aquafeed
6.4. Pet Food
6.5. Food & Beverages
6.6. Other Applications
7. Global Mealworms Market, by End Use
7.1. Introduction
7.2. Animal Nutrition
7.3. Human Consumption
7.4. Other End Uses
8. Mealworms Market, by Geography
8.1. Introduction
8.2. Europe
8.2.1. Netherlands
8.2.2. Belgium
8.2.3. France
8.2.4. Denmark
8.2.5. Finland
8.2.6. Germany
8.2.7. Rest of Europe (RoE)
8.3. North America
8.3.1. U.S.
8.3.2. Canada
8.4. Asia-Pacific
8.4.1. Thailand
8.4.2. China
8.4.3. South Korea
8.4.4. Vietnam
8.4.5. Malaysia
8.4.6. Rest of Asia-Pacific (RoAPAC)
8.5. Latin America
8.6. Middle East & Africa
9. Competitive Landscape
9.1. Introduction
9.2. Competitive Benchmarking
9.3. Production Capacity
10. Company Profiles (Business Overview, Product Portfolio, Financial Overview, and Strategic Developments)
10.1. Protix B.V.
10.2. Ynsect SAS
10.3. BETA HATCH
10.4. Armstrong Crickets Georgia
10.5. TEBRIO (Formerly MealFood Europe SL)
10.6. Tebrito AB
10.7. Entec Nutrition
10.8. Invertapro AS
10.9. Keil Co., Ltd
10.10. EntoBreed Farming BV
10.11. Goterra
11. Appendix
For more information about this report visit https://www.researchandmarkets.com/r/q0p2iz
