The research report “ Global Insect Feed Market: By Product (Meal Worms, Fly Larvae and Others (Including, silkworms, cicadas etc.)), By Application (Aquaculture, Pig Nutrition, Poultry Nutrition and Others (Including cattle and dairy nutrition, etc.) and Geography- Global/Region/Country Forecast to 2027″, The global insect feed market was valued at around US $ 623.8 Mn in 2020 and poised to grow at significant CAGR of 6.3% over 2021-2027.
Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “ Global Insect Feed Market: By Product (Meal Worms, Fly Larvae and Others (Including, silkworms, cicadas etc.)), By Application (Aquaculture, Pig Nutrition, Poultry Nutrition and Others (Including cattle and dairy nutrition, etc.) and Geography- Global/Region/Country Forecast to 2027″,
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Huge demand for livestock farming will foster the market growth:
The global insect feed market was worth roughly US $ 623.8 million in 2020, and it is expected to increase at a CAGR of 6.3% between 2021 and 2027. Global insect feed market report provides complete overview on insect feed around the globe by covering major regions like Europe, Asia pacific, North America, Middle East and Africa. In 2018, Europe accounted for largest revenue share in global insect feed market owing to increase in demand for insect feed from aquaculture industry. North America expected to create lucrative opportunities for the insect feed in the near future. This report further discusses about global market dynamics to identify the present trends, drivers and upcoming opportunities. Industry players get thorough information in this report about global market scenario. It further captures the current, future and historical market sizes based on product, region and application. Mealworms segment accounted for US$ (V) Mn in 2020, and is expected to grow at CAGR of 21.5% over the forecast period Black soldier flies segment accounted for US$ (V) Mn in 2020, and expected to grow at CAGR of 23.0% in future. Furthermore, global insect feed market report sheds light on regulatory scenario, competitive analysis, key market developments, and human demographics. This report gives thorough analysis on industry covering qualitative and quantitative information. It provides forecast of global insect feed market according to the different sectors.
This research analysis further tracks key developments and recent innovations of the market. This market will witness high CAGR rate during 2021-2027 owing to the increasing number of meat consuming people and growing demand for livestock farming like poultry, aquaculture and farming. There is huge demand for quality protein in poultry industry, which drives the insect feed market as Insect feed consists of several necessary nutrients and protein needed for the diet. Furthermore, edible insects are used hugely in animal farming. A few market restraining factors are high price of insect feed and concerns related to disease. For instance, Europe made a ban on the use of insects as livestock feed after the epidemic of mad cow illness in British Isles. Europe then permitted the inset feed use after 2013 for aquaculture under stringent restraints. Increasing demand for natural feeding supplies will also drive the market growth.
Impact of COVID-19 on Insect Feed Market:
In addition, the report discusses the implications of COVID-19, including the industry’s initial response and strategies for ensuring business continuity in the coming years.
Asia Pacific Witnessed huge market Revenue share in Global Insect Feed Market:
Asia Pacific became huge market revenue share obtainer in the global inset feed market. This region recorded significant CAGR due to the increase in the livestock farming. This region is supported by high expenses also in the production of fish and meat.
Competitive Analysis:
Global insect feed market is booming due to the frequent achievements and launchings by the industry players. Buhler made partnership with Protix in January 2017 for developing industry scale solutions for feedstock, larvae processing and larvae rearing also to produce quality insect ingredients. A few leading industries working in infect feed market include AgriProtein, Diptera Nutrition, Enterra Feed, Entofood, Entomo Farms, HiProMine, Innova Feed, Kulisha, Meal Food Europe, Protix, Ynsec and Buhler.
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