Global Insect Feed Market Size To Exceed USD 3.33 Billion By 2033 | CAGR of 10.75%
Category: Food & BeveragesGlobal Insect Feed Market Size To Exceed USD 3.33 Billion By 2033
According to a research report published by Spherical Insights & Consulting, the Global Insect Feed Market Size Expected to Grow from USD 1.20 Billion in 2023 to 3.33 Billion by 2033, at a CAGR of 10.75% during the forecast period 2023-2033.
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Browse key industry insights spread across 220 pages with 110 Market data tables and figures & charts from the report on the "Global Insect Feed Market Size, Share, and COVID-19 Impact Analysis, By Source (Mealworms, Fly Larvae, Others), By Application (Aquaculture, Pig, Poultry, Others), and By Region (North America, Europe, Asia-Pacific, Latin America, Middle East, and Africa), Analysis and Forecast 2023 – 2033." Get Detailed Report Description Here: https://www.sphericalinsights.com/reports/insect-feed-market
Packed with protein and sustainability, insect feed is gaining popularity as a versatile alternative to livestock, pets, and human use. It comes in pellet and crumbles form and can be used either in addition to or instead of traditional feed, meeting a range of dietary needs while supporting ecologically friendly practices. Additionally, the increasing acceptance of insects as a protein source is driving market growth. The current trend of increasing meat consumption has increased demand for high-quality feed products, which has prompted the usage of feed to increase yields. Furthermore, as the benefits of the feed become clearer in terms of animal nutrition, environmental effects, and overall sustainability, the market is expected to keep expanding and be widely utilized in the aquaculture and agricultural industries. However, future market expansion is expected to be hampered by the stringent regulations and norms governing the introduction of new insect feed.
The mealworms segment is expected to hold the largest share of the global insect feed market during the anticipation timeframe.
Based on the source, the global Insect feed market is categorized as mealworms, fly larvae, and others. Among these, the mealworms segment is expected to hold the largest share of the global Insect feed market during the anticipation timeframe. A typical choice is mealworms, also known as darkling beetle larvae, because of their high protein and fat content, which makes them suitable for a range of animal species, including fish, reptiles, and poultry.
The aquaculture segment is expected to grow at the fastest CAGR during the anticipation timeframe.
Based on the application, the global insect feed market is categorized as aquaculture, pig, poultry, and others. Among these, the aquaculture segment is expected to grow at the fastest CAGR during the anticipation timeframe. In aquaculture, traditional fishmeal—which is often sourced from overfished sources—can be effectively replaced with insect feed. The protein-rich composition in aquaculture systems encourages healthier populations and speeds up shrimp and fish growth.
Asia-Pacific is projected to hold the largest share of the global insect feed market over the anticipation timeframe.
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Asia-Pacific is projected to hold the largest share of the global insect feed market over the anticipation timeframe. Asia-Pacific's burgeoning population and rising demand for animal protein necessitate innovative and sustainable feed solutions. The usage of insects as animal feed is relatively more accepted in the region because of the long history of eating them. Additionally, the huge aquaculture business offers a lot of opportunities for using insect feed as a protein source substitute for fish and shrimp.
North America is expected to grow at the fastest CAGR growth of the global insect Feed market during the anticipation timeframe. A greater focus on sustainable and alternative protein sources in animal feeding. Growing environmental consciousness and the necessity for resource-efficient solutions in agriculture and aquaculture are the main drivers of the demand. The region's robust aquaculture and cattle industries aid in the adoption of insect-based feed products.
Major vendors in the global insect feed market are EnviroFlight LLC, Protix BV, InnovaFeed SAS, Nasekomo AD, Ynsect, Beta Hatch Inc., Alltech Coppens BV, Hipromine SA, nextProtein, Enterra Feed Corporation, Hexafly Enterprises Limited, Loopworm Private Limited and others.
Key Target Audience
- Market Players
- Investors
- End-users
- Government Authorities
- Consulting and Research Firm
- Venture capitalists
- Value-Added Resellers (VARs)
Recent Developments
- In January 2024, Protix, a company that produces proteins for fish, agricultural animals, and pet food through insect farming, raised EUR 50 million (USD 51.4 million) for further international expansion and creative research and development.
Market Segment
This study forecasts revenue at global, regional, and country levels from 2020 to 2033. Spherical Insights has segmented the global insect feed market based on the below-mentioned segments:
Global Insect Feed Market, By Source
- Meal Worms
- Fly Larvae
- Others
Global Insect Feed Market, By Application
- Aquaculture
- Pig
- Poultry
- Others
Global Insect Feed Market, By Regional
- North America
- US
- Canada
- Mexico
- Europe
- Germany
- UK
- France
- Italy
- Spain
- Russia
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Australia
- Rest of Asia Pacific
- South America
- Brazil
- Argentina
- Rest of South America
- Middle East & Africa
- UAE
- Saudi Arabia
- Qatar
- South Africa
- Rest of the Middle East & Africa
About the Spherical Insights & Consulting
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Which is catering to different industry such as financial sectors, industrial sectors, government organizations, universities, non-profits and corporations. The company's mission is to work with businesses to achieve business objectives and maintain strategic improvements.
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