Insect Feed Market is estimated to be US$ 2826.77 billion by 2030 with a CAGR of 12.8 % during the forecast period
Insect Feed Market accounted for US$ 847.57 billion in 2020 and is estimated to be US$ 2826.77 billion by 2030 and is anticipated to register a CAGR of 12.8%. Various varieties of insects can be utilised as feed for industrial animal production and aquaculture due to their nutritional profile, particularly the high protein content. Pigs, chickens, and edible fish have all been given an insect-based diet in scientific studies. Insects can provide swine and poultry with enough protein and necessary amino acids to potentially replace soybean meal in their diets. Incorporating black soldier fly larvae into a fish farming diet resulted in a satisfactory outcome with no differences in odour or texture.
The report "Global Insect Feed Market, By Product (Meal Worms, Fly Larvae and Others), By Application (Aquaculture, Pig Nutrition, Poultry Nutrition and Others), and By Region (North America, Europe, Asia Pacific, Latin America, and Middle East & Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
· In December 2021, Ecuador launches LatAm’s first insect feed production plant.
· In March 2021, In the province of Alessandria, the first Italian insect farm for animal feed is about to open: an integrated insect breeding system for the bioconversion of food waste into protein flour and oil for use in feed manufacturing.
Analyst View:
Increasing global consumption of meat and meat products has resulted in increased livestock output, which necessitates the use of high-quality feed products in order to achieve higher yields. Insects have a higher protein content and lower fat content than typical meats like poultry and animals. As a result, they can be made for human consumption or as a source of protein in feedstock combinations. As the demand for meat rises, the demand for grain and protein feeds is projected to rise as well. The key element expected to fuel growth on the worldwide insect feed market is the expansion of the aquaculture and poultry sectors.
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Key Market Insights from the report:
Global Insect Feed Market accounted for US$ 847.57 billion in 2020 and is estimated to be US$ 2826.77 billion by 2030 and is anticipated to register a CAGR of 12.8%. Global Insect Feed is segmented into product, application and region.
· Based on Product, the Global Insect Feed Market is segmented into Meal Worms, Fly Larvae and Others.
· Based on Application, the Global Insect Feed Market is segmented into Aquaculture, Pig Nutrition, Poultry Nutrition and Others.
· By Region, the Global Insect Feed Market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Competitive Landscape & their strategies of Global Insect Feed Market:
The key players in the global Insect Feed Market includes nextProtein, Buhler AG, Hexafly, Entofood Sdn Bhd, Diptera Nutrition S.r.l, EnviroFlight LLC, Alltech Coppens GmbH, AgriProtein Holdings Ltd., Bioflytech S.L., and HiProMine S.A.
The market provides detailed information regarding the industrial base, productivity, strengths, manufacturers, and recent trends which will help companies enlarge the businesses and promote financial growth. Furthermore, the report exhibits dynamic factors including segments, sub-segments, regional marketplaces, competition, dominant key players, and market forecasts. In addition, the market includes recent collaborations, mergers, acquisitions, and partnerships along with regulatory frameworks across different regions impacting the market trajectory. Recent technological advances and innovations influencing the global market are included in the report.
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