IMARC Group, a leading market research company, has recently releases report titled “Insect Feed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global insect feed market size, growth, share, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
How big is the Insect Feed Market?
The global insect feed market size reached US$ 877.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,649.4 Million by 2028, exhibiting a growth rate (CAGR) of 11.3% during 2023-2028.
What Is The Insect Feed?
Insect feed refers to the use of insect species to meet the nutritional needs of various animals. It is typically produced in the form of pellets, meals, or crumbles and serves to reduce reliance on conventional feed sources while recycling valuable ingredients from organic waste materials. Insect feed contributes to the reduction of the environmental footprint of livestock production by efficiently converting organic waste into protein-rich feed. Consequently, these insect species are widely utilized in aquaculture as well as in the nutrition of pigs, poultry, and dairy animals worldwide.
What Are The Key Factors Driving The Insect Feed Market?
The insect feed market is experiencing significant growth driven by several key factors and emerging trends. One of the primary drivers is the increasing consumer demand for meat products, leading to a higher utilization of high-quality insect-based feeds to achieve greater yields in animal production. Additionally, there is a growing interest in using insects as novel additives in animal meals due to their bioactive components, including lauric acid, antimicrobial peptides, and chitin, which can enhance gut health. The global population growth and evolving dietary preferences are also contributing to the market’s expansion. Furthermore, the rising popularity of certain insect species for human consumption, owing to their high protein and low-fat content, is fueling market growth. The insect feed market benefits from its reduced risk of transmitting zoonotic diseases compared to traditional livestock. Additionally, insects offer a higher feed conversion ratio, making them an efficient source of nutrition for animals. Moreover, the development of innovative insect feed variants that can be produced from organic waste and have a lower environmental impact, emitting fewer greenhouse gases and less ammonia than conventional livestock, is expected to drive market growth in the coming years.
Report Segmentation:
The report has been segmented the market into following categories:
Breakup by Product Type:
- Meal Worms
- Fly Larvae
- Silkworms
- Cicadas
- Others
Breakup by Application:
- Aquaculture
- Pig Nutrition
- Poultry Nutrition
- Dairy Nutrition
- Others
Breakup by Region:
- North America
- United States
- Canada
- Asia-Pacific
- China
- Japan
- India
- South Korea
- Australia
- Indonesia
- Others
- Europe
- Germany
- France
- United Kingdom
- Italy
- Spain
- Russia
- Others
- Latin America
- Brazil
- Mexico
- Others
- Middle East and Africa
Who Are The Key Players/Companies In The Global Insect Feed Market?
Alltech Coppens, Bühler Holding AG, Enterra Corporation, Entofood Sdn Bhd., EnviroFlight LLC (Darling Ingredients Inc.), Hexafly, InnovaFeed, Multibox, nextProtein, Protix and Ÿnsect.
