Download PDF Brochure: https://www.marketsandmarkets.com/pdfdownloadNew.asp?id=150067243
Due to the resource sustainability associated with the consumption of insects as an alternative protein source in the feed industry, the demand for insect protein is the highest in the animal nutrition segment, by application
Although consuming edible insects has been a tradition since ancient times across Southeast Asian countries, the development of insect-based protein is a recent innovation. Due to the “yuck” factor associated with insect-related products for human consumption, the application of insect protein has gained high acceptance in the feed industry. Fluctuating prices of fishmeal, declining production of fishmeal, and increasing dependence of Europe for animal-based protein (other than bone meal) for livestock nutrition encouraged manufacturers in the region to adopt insect-based protein for feed. Due to these factors, the animal nutrition segment recorded the fastest growth across the globe.
High acceptance of crickets in the food industry due to their high protein content
Due to the high availability and acceptability of crickets and their high protein content, their usage in products, such as protein bars, is very high. Dried cricket powder contains 69% of protein, compared to sirloin beef (29%), dried beef (43%), and chicken (31%). It also contains nine essential amino acids, along with zinc, Vit. B12, iron, potassium, magnesium, sodium, and calcium. Also, cricket flour acts as an alternative for milk, as it contains a high amount of calcium. The use of crickets is profitable in comparison with other livestock proteins, owing to the reduced expenses associated with rearing crickets. Crickets usually require around 2 kg of feed to produce 1 kg of meat, in which around 80% is edible, whereas, cattle require 8 kg of feed to produce the same amount of meat, out of which only 40% is edible.
Speak to Analyst: https://www.marketsandmarkets.com/speaktoanalystNew.asp?id=150067243
North America and Europe dominated the insect protein market in 2018
Insects have been an integral part of the traditional diet in Southeast Asian countries; hence, the adoption of processed products such as insect protein in these countries has been low. The number of players venturing into this market has been high in Europe and North America. Majorly, countries such as France, the Netherlands, Germany, and the US have been accepting these products, Moreover, the recognition of insect protein as novel foods in the European and US markets and the legislative amendment to include insects as a part of feed and food material have boosted the growth opportunities for insect protein in these countries. Majority of the manufacturers are headquartered in these countries and, being small-scale players; their revenues are majorly concentrated in the domestic market. Thus, the market shares of North America and Europe dominated the global market in 2018.
This report includes a study of the development strategies, along with the product portfolios of the leading companies. Insect protein finds major applications in the food and feed industries, and hence, profiles of the major manufacturers of insect protein products for both food and feed applications have been covered in this report. The key companies in the insect protein market for food application include Aspire Food Group (US), EntomoFarms (Canada), Protifarm (Netherlands), Jimini’s (UK), Chapul Cricket Protein (US), and Swarm Nutrition GmbH (Germany) while the key companies for the insect protein market the feed application include AgriProtein Holdings Ltd. (South Africa), EnviroFlight LLC (US), Innovafeed (France), Ynsect (France), Hexafly (Ireland), and Protix (Netherlands).
About MarketsandMarkets
MarketsandMarkets provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets for their painpoints around revenues decisions.
Our 850 fulltime analyst and SMEs at MarketsandMarkets are tracking global high growth markets following the “Growth Engagement Model GEM”. The GEM aims at proactive collaboration with the clients to identify new opportunities, identify most important customers, write “Attack, avoid and defend” strategies, identify sources of incremental revenues for both the company and its competitors. MarketsandMarkets now coming up with 1,500 MicroQuadrants (Positioning top players across leaders, emerging companies, innovators, strategic players) annually in high growth emerging segments. MarketsandMarkets is determined to benefit more than 10,000 companies this year for their revenue planning and help them take their innovations/disruptions early to the market by providing them research ahead of the curve.
MarketsandMarkets’s flagship competitive intelligence and market research platform, “Knowledge Store” connects over 200,000 markets and entire value chains for deeper understanding of the unmet insights along with market sizing and forecasts of niche markets.
Contact:
Mr. Aashish Mehra
MarketsandMarkets INC.
630 Dundee Road
Suite 430
Northbrook, IL 60062
USA : 1-888-600-6441
