Insect Protein Market Overview:
The Insect Protein market is an in-depth look at the insect protein companies, with a focus on global market trends and analysis. This study seeks to provide an overview of the Insect Protein industry as well as detailed market segmentation by segment and geography. The Insect Protein market is expected to expand rapidly over the forecast period. The research contains critical information on the market positions of the top Insect Protein firms, as well as significant industry trends and opportunities.
Anticipated Growth:
Insect Protein Market size was valued at US$ 413.5 Mn. in 2021 and revenue is expected to grow by 25.2% from 2022 to 2029, reaching nearly US$ 2496.39 Mn.
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Insect Protein Market Dynamics:
Demand for insect protein is anticipated to be driven by expanding consumer awareness of the consumption of nutrient-dense foods and increased propensity for a healthy lifestyle during the projected period. The opportunity to offer such meals has been provided to manufacturers in a range of industries by the increased demand for wholesome food products as a result of rising health consciousness among consumers globally. Insect protein has a significant potential to help solve world hunger given the increased need for food that comes along with an expanding global population. Insect protein has a wide range of applications, including the production of animal feed, meals, drinks, cosmetics, and personal care products.
Insect Protein Market, Key Highlights:
- The study analyses and forecasts the worldwide Insect Protein Market value.
- The market drivers, limitations, and opportunities driving the growth of the Insect Protein Market are all thoroughly studied.
- Insect Protein Market has been segmented based on Type, Product Type, End-User, and Region.
- Insect Protein Market strategic analysis with respect to individual growth trends, future prospects, along the contribution of various sub-market stakeholders have been considered under the scope of the study.
- Insect Protein Market analysis and projections for five important regions: North America, Europe, Asia Pacific, the Middle East, Africa, and Latin America, and also country-level classification.
- The profiles of key industry participants and their strategic viewpoints, market positioning, and analysis of core competencies are expanded upon.
- The Insect Protein Market’s leading firms are profiled in terms of their competitive developments, expenditures, strategic growth, and competitor analysis.
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Insect Protein Market Segmentation Analysis:
The food and beverage segment, which will rank as the second-largest end use category in 2021, is anticipated to have rapid growth throughout the course of the forecast period. Products for use in the food and beverage industry include functional foods, nutrient-rich bars, and goods high in protein. The expansion of countries that allow the consumption of insects is anticipated to fuel market expansion. Insect protein is frequently used as an alternative source of fats in skincare products in the personal care and cosmetics industry. The rising environmental issues that also have an impact on product development have put pressure on the cosmetics sector in recent years to use more natural & sustainable raw ingredients.
Insect Protein Market Key Players:
• Entomo Farms
• Exoprotein
• Nutribug
• Protix
• Proti-Farm
• Coast Protein
• Aketta
• C-fu Foods
• EnviroFlight, LCC
• nextProtein
• Thailand Unique
• Proti-Farm Holding NV
• Chapul, LLC
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COVID-19 Impact Analysis of Insect Protein Market:
The COVID-19 pandemic has had an impact on markets and consumer behaviour. It has had a significant influence on economies and civilizations alike. The effects of COVID-19 are expected to shift consumer demand to online platforms. This might permanently alter customer behaviour because once individuals get into the habit of purchasing online, it becomes a pattern that is difficult to break, compelling businesses to increase their online presence. COVID-19 has an immediate and extensive influence on consumer behaviour across all industries.
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