The global insect protein market was valued at USD 153.92 million in 2021 and is projected to grow from USD 189.32 million in 2022 to USD 856.08 million by 2029, reflecting a CAGR of 24.1% over the forecast period. Europe led the market in 2021, holding a dominant 33.67% share.

Insects serve as a primary food source for over 2 billion people worldwide. Beyond their high protein content, they offer essential fats, high-quality lipids, fiber, vitamins, and minerals such as iron and calcium. Commonly used insect protein sources include mealworms, black soldier flies, locusts, and crickets. While insect-derived lipids show promise for biofuel applications and by-products like chitin hold value in the pharmaceutical and bioplastic industries, insect proteins are primarily used in food, pet food, aquafeed, and animal feed.

Information Source: https://www.fortunebusinessinsights.com/industry-reports/insect-based-protein-market-100780 

Market Segmentation

• By Product Type: The market is segmented into orthoptera, hymenoptera, lepidoptera, coleoptera, and others.

• By Application: Categories include pharmaceuticals & cosmetics, animal feed, and food & beverages.

• By Region: The market is divided into North America, Europe, South America, Asia Pacific, and the Middle East & Africa.

Report Coverage

This report provides:

• Analysis of key market trends and segment performance.
• Evaluation of COVID-19’s impact on the industry.
• Porter’s Five Forces Analysis for market forecasting.
• Insights into market drivers and challenges.
• Rankings and profiles of major industry players.

Market Drivers and Challenges

Growing Demand for Alternative Proteins Fuels Market Expansion

Insects provide higher protein content compared to traditional animal and plant-based sources and are more cost-efficient to cultivate. Their increasing application across industries—including aquafeed, nutraceuticals, pet food, pharmaceuticals, and beverages—is driving market growth. Additionally, advancements in food technology, urbanization, and shifting consumer preferences are further propelling demand.

However, the high production costs associated with insect protein remain a significant challenge to market expansion.

Regional Insights

Europe Leads the Market Due to Expanding Food Applications

Europe is expected to maintain its leadership position, driven by the rising demand for fiber-fortified products in Germany and the U.K. and growing insect protein consumption among middle-aged and elderly consumers.

The Asia Pacific region is anticipated to witness rapid growth due to increasing domestic demand and abundant raw material availability, particularly in China. Expanding food & beverage and pharmaceutical industries in South Korea, India, Indonesia, Malaysia, and China will further support regional market growth.

List of Key Market Players-

• Aspire Food Group (Canada)
• Ynsect NL Nutrition & Health B.V. (Netherlands)
• EntomoFarms (Canada)
• Chapul Cricket Protein (U.S.)
• Jimini’s (France)
• EnviroFlight LLC (U.S.)
• Swarm Nutrition GmbH (Germany)
• AgriProtein Holdings Ltd (England)
• Next Protein Inc. (France)
• Innovafeed (France)

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Competitive Landscape

Key Players Focus on Innovation and Expansion

The insect protein market is highly competitive, with both small and large-scale manufacturers striving for market dominance. Leading companies include EntomoFarms, Jimini’s, EnviroFlight LLC, Aspire Food Group, Protix, Innovafeed, Hexafly, and Swarm Nutrition GmbH. To meet rising demand and strengthen market presence, these players are prioritizing capacity expansion, acquisitions, collaborations, and mergers.

For example, in April 2021, Ÿnsect acquired Protifarm to reinforce its position in the insect protein industry.