Insect Feed Market Analysis, Industry Demand To 2031

(MENAFN- Straits Research) Insect feed is becoming more well-liked as a sustainable source of protein for animals, companion animals, and people. Since insect feed is available in various forms, it is a valuable good with many applications. Insect feed can completely replace or supplement conventional feed sources. Additionally, it's becoming more and more common to eat insects as food.
Market Dynamics
Government Regulations Drive the Global Market
Governmental bodies should take the initiative to promote insect rearing as a viable and environmentally friendly choice by working with related ministries like health and agriculture to establish new regulations and research facilities. For instance, the Kenyan government established GREEiNSECT, a research consortium between public and private institutions, to study insects used as food and feed in Kenya. The Danish International Development Agency has provided four years of funding to develop a system for international trade and food security standards.
The South Korean government approved mealworms and crickets (not the typical Acheta Domesticus species, but the Gryllus bimaculatus species) as some edible insects in 2016 by the regulations of the Korean Food and Drug Administration. More insects are likely to be added to the eligibility list soon. Thailand, the world's largest cricket breeder, has made the GAP (Good Agricultural Practices) for insect farming available. Insects are traditionally consumed in Southeast Asian countries, despite the lack of legal restrictions on their breeding, sale, or export. The market for insect feed is therefore expected to grow as a result of an increase in government policies that support it.
Research Efforts across Numerous Animal Feed Sectors Creates Tremendous Opportunities
Insect-related research is conducted only in a few nations, including the United States, Canada, and the European Union. The regulatory bodies' acceptance of updated regulations during the forecast period, particularly in Asian and African countries, could aid the market under study in expanding. Commercial-scale production of insect feed products needs to be improved compared to conventional animal feed products. Investment in the capital that supports the diversification and expansion of the production of insect feed will probably be advantageous to the insect feed industry. The future of the market under study will depend heavily on the diversification of various insect-fed species across different animal-feed sectors. The insect species are currently exempt from regulation: common houseflies, lesser mealworms, yellow mealworms, house crickets, banded crickets, and field crickets. Additionally, aquaculture dominates the market for insect feed. The insect feed market is expected to grow over the forecast period because of research initiatives across numerous animal feed industries.
Regional Analysis
Asia-Pacific, the highest revenue contributor, is anticipated to expand at a CAGR of 12.3% during the forecast period. Insect farming is a unique form of breeding that gives locals in rural China a means of subsistence. Both the social and scientific worlds advocate using insects as food. China became a nation with an upper middle class and increased the income levels of its citizens as a result of the country's rural population declining from 42.0% in 2017 to 38.57% in 2020. (World Bank). The decline in the rural population is increasing the income shares of the remaining rural population because insect feed is a significant source of income in rural areas. In addition, local Chinese companies like Guangzhou Wuliang Biotechnology Co. and Haocheng Mealworms Inc. have started producing insect feed rather than importing soybeans from the United States for animal feed. This decline is due to the US-China trade war. A crop-eating pest also significantly harmed many of the nation's crops used as animal feed in 2019. Businesses have therefore developed novel insect feeds to provide livestock with a diet high in protein. The rising meat consumption has increased the demand for animal-nourishing insect feed in recent years. The market for insect feed in the nation has also benefited from investments made by the sector.
Europe is anticipated to grow at a CAGR of 12.8% and produce USD 824.27 million. To recycle the roughly 1.3 billion tons of food waste generated worldwide, Entomics, a biotechnology company headquartered in the UK, feeds waste to insects. Estimates suggest that this causes low-value biomass to be transformed into high-value insect mass dripping with proteins, fats, and chitin. These can be used as environmentally friendly inputs for various sectors, most notably aquaculture, which requires high-quality animal feeds. Therefore, innovative methods for cutting down on food waste and creating nutrient-rich insect feed could encourage market growth in the country. With assistance from the Woven Network, the Royal Entomological Society, and the Agricultural Ecology Group of the British Ecological Society, RSK ADAS Ltd. organized a workshop in 2017 to advance insect farming in the UK. In addition to other UK laws and Food Standards Agency directives, strict regulations may be applied to feed production. In addition to aquaculture, the European Union modified this law to allow the use of some insect meals in poultry feed. Corporate investments and governmental regulations may help expand the nation's insect feed market.
Key Highlights

The global insect feed market was valued at USD 1,121.2 million in 2022. It is expected to reach USD 3,059.56 million by 2030, growing at a CAGR of 11.8% during the forecast period (2023–2031).


The global insect feed market is bifurcated based on animal type into aquaculture, poultry, and swine. The aquaculture segment is the highest contributor to the market and is expected to grow at a CAGR of 13.1% during the forecast period.


Asia-Pacific is the most significant revenue contributor and is expected to grow at a CAGR of 12.3% during the forecast period.

Competitive Players
The global insect feed market's major key players are Alltech Coppens, Multibox, Nextprotein, Enviroflight, Protix, Innova Feed, Tiny Farms, Insect, AgriProtein, Enterra Feed Corporation, and Hexafly.
Market News

In November 2022, Innovafeed, the top insect-based animal and plant nutrition ingredients producer, announced that B Lab had recognized it as a B CorporationTM. This international certification proves that the foundation of Innovafeed's business strategy is sustainable impact.


In February 2022, Protix, a leading Dutch manufacturer of insect-based ingredients, raised EUR 50 million in equity from a group of investors, including the Prince Albert II Foundation, BNP Paribas, the European Circular Bioeconomy Fund, and The Good Investors. Existing shareholders Aqua-Spark, Rabo Investments, and Invest-NL also favor this new funding.

Global Insect Feed Market: Segmentation
By Animal Type

Aquaculture
Poultry
Swine

By Regions

North America
Europe
Asia-Pacific
South America
The Middle East and Africa

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