Insect Protein Market To Grow By USD 2.8 Billion From 2024-2028, As Demand For Sustainable Protein Surges With AI Impact On Market Trends - Technavio

NEW YORK, Nov. 7, 2024 /PRNewswire/ -- Report on how AI is redefining market landscape - The global
insect protein market
size is estimated to grow by USD 2.8 billion from 2024-2028, according to Technavio. The market is estimated to grow at a CAGR of
45.88%
during the forecast period. Increasing demand for sustainable protein sources
is driving market growth,
with a trend towards
product diversification and innovation. However,
inconsistency in government regulations related to insect proteins
poses a challenge market players include All Things Bugs LLC, Aspire Food Group, Beta Bugs Ltd., Beta Hatch, Bioflytech, Chapul LLC, Darling Ingredients Inc., Entomo Farms, Bugs Asia Co. Ltd., Goterra, HEXAFLY, HiProMine S.A., Innovafeed SAS, JR Unique Foods Ltd., MealFood Europe SL, nextProtein SA, Nutrition Technologies, Protenga Pte. Ltd., Protix BV, and Ynsect SAS.

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The insect protein market is witnessing significant growth due to manufacturers' efforts to cater to diverse consumer preferences and niche markets. Insect protein is finding its way into various products such as protein powders, bars, refreshments, baked goods, and pet food. For instance, Chapul produces cricket-based protein bars and chips, appealing to health- and environmentally-conscious consumers. Insect protein's use extends to pet food and animal feed, further fueling market expansion. This trend signifies the increasing demand for nutrient-dense, eco-friendly, and sustainable protein alternatives, driving innovation and market diversification in the global insect protein sector. These trends are expected to shape the market's growth trajectory during the forecast period.

The Insect Protein Market is gaining momentum as a sustainable and efficient protein source for various industries. With the trend towards healthy living and food security, insect protein is becoming a popular alternative to traditional animal-derived proteins. These tiny critters offer high nutritional value, including essential amino acids, making them an ideal culinary ingredient for protein bars, energy drinks, pet food, and more. Despite some allergic reactions and microbial risks, insect protein's health benefits outweigh the concerns. The market caters to vegan trends and diet-related diseases, offering plant-based alternatives to animal products. Insect farming, using species like Diptera-based Protein (Black Soldier Flies), Coleoptera (Mealworms), and Orthoptera (Crickets), is becoming a viable solution for reducing carbon footprint in animal feed and human nutrition. Insect protein's high protein content, along with automation, biotechnology, vertical farming, AI optimization, and processing techniques, is making it a sustainable protein alternative for aquaculture and human consumption. However, animal welfare concerns, cultural resistance, and allergy concerns are challenges that the market must address to gain widespread acceptance.

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The global insect protein market encounters notable challenges due to varying regulatory frameworks in different countries and regions. Harvesting and processing insects for human consumption or animal feed are restricted or banned in certain areas, hindering market expansion. For example, Europe's Novel Food Regulation imposes lengthy approval processes for using insects as food or feed. The FDA in the US offers limited information on insect consumption, creating uncertainty for insect protein manufacturers. Cultural acceptance of insect-based products also varies, impeding market growth in specific regions. These conflicting regulations pose significant obstacles for vendors in the insect protein market, restricting new entrants and limiting market expansion during the forecast period.

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The Insect Protein Market is gaining momentum as a sustainable alternative to traditional animal-derived protein sources. However, offline distribution poses a challenge for players in this market. Insect farming, using Diptera-based protein sources like Black Soldier Flies and Coleoptera, as well as Orthoptera like Crickets, offers high protein content and nutritional richness. Sustainability is a key selling point, with insect protein having a smaller carbon footprint compared to animal feed production. Insect protein is also beneficial for human nutrition and aquaculture. Automation, biotechnology, and vertical farming are driving efficiency in insect farming. AI optimization and processing techniques improve product quality and consistency. Health-conscious consumers seek efficient, sustainable protein sources, creating opportunities for strategic alliances. Animal welfare concerns, cultural resistance, and allergy concerns are challenges to be addressed. Nutritional benefits, food security, ethical alternatives, raw material shortages, and shipping delays are other factors influencing market growth.

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This insect protein market report extensively covers market segmentation by