Wilmington, Delaware, United States, Aug. 05, 2022 (GLOBE NEWSWIRE) — Transparency Market Research Inc. – TMR insights for the edible insects for animal feed market estimates a CAGR of 38.9% during the forecast period from 2022 to 2031. Substantial rise in demand for edible insects in poultry and aquaculture industries as an alternative protein source is fuelling the growth of edible insects for animal feed market. Besides, advantages of minimal space requirement, and low environmental impact some other key factors driving edible insects for animal feed market.
Demand for low-cost and highly nutritive feed ingredients is driving manufacturers of edible insect feed to increase their production capacity. Focus of manufacturers for customized edible insects for animal feed, predominantly for pet food, poultry, and aquaculture to boost sales of the edible insects for animal feed market. The launch of a new line of enriched products, especially for livestock and pet feed to create new revenue streams.
Increase in prices of conventional aquaculture feed ingredients is compelling fish farmers to adopt cost-efficient sources of protein such as insect meal. High nutritive value, lower production and processing cost, and low impact on the environment demonstrate increasing demand for insect meal over fish feed ingredients. Role of manufacturers to increase production capacity, and expand their product portfolio to serve the growing demand from fish farms to elevate the market value of edible insects for animal feed market.
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Edible Insects for Animal Feed Market – Key Findings of the Report
- Extremely low initial stage production cost of insect-based feed products is leading to the increasing demand for edible insects. This is attracting investments, and therefore manufacturers are in the process of increasing their production capacities to result into expansion of the edible insects for animal feed market.
- Large percentage of conventional sources of protein such as wheat protein, potato protein, and fish meal in the production cost of livestock is leading to increasing inclination toward insect-based protein products
- Mealworms insect type segment held the leading share of 51.6% of edible insects for animal feed market in 2022. Factors such as high nutritional value, and lower risk of zoonotic diseases account for the leading demand for mealworms segment. Mealworms serve to be a sustainable alternative, and waste generated by animals by consuming mealworms is an ideal organic fertilizer.
- The meal (powder) product type segment is anticipated to hold the leading market share of edible insects for animal feed market in 2022.
- Europe is projected to hold the leading 34.5% share of edible insects for animal feed market in 2022. Large demand for edible insects in the animal feed industry, and relaxation of law in the utilization of insect protein in feed products for poultry, pigs, and fish create ample opportunities in edible insects for animal feed market in the region.
- North America is anticipated to hold a significant approximately 33% share of edible insects for animal feed market in 2022.
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Edible Insects for Animal Feed Market – Growth Drivers
- Significant demand for low-cost protein sources, for aqua feed and livestock feed segments propels the edible insects for animal feed market
- Key attributes of high nutritional value, sustainability over conventional plant-based and animal-based protein, and secondary use related to generating organic fertilizer fosters demand
Edible Insects for Animal Feed Market – Key Players
Some of the key players operating in the edible insects for animal feed market are;
- AgriProtein HoldingsLtd.
- Protix
- EnviroFlight LLC
- Ynsec
- InnovaFeed
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The edible insects for animal feed market is segmented as follows;
Edible Insects for Animal Feed Market, by insect type
- Black Soldier Fly
- Mealworm
- Housefly
- Silkworm
- Othoptera
- Others
Edible Insects for Animal Feed Market, by Product Type
- Meal (Powder)
- Oil
- Whole (Dried)
Edible Insects for Animal Feed Market, by End-use
- Livestock
- Poultry
- Swine
- Pet Food
- Aquaculture
Edible Insects for Animal Feed Market, by Region
- North America
- Latin America
- Europe
- South Asia
- East Asia
- Oceania
- Middle East & Africa
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