Asia-Pacific Insect Protein Market, By Insect Type (Beetles, Caterpillars, Bees, Wasps and Ants, Grasshoppers, Locusts, Crickets, True Bugs, Black Soldier Flies, Cicadas, Leafhoppers, Plant Hoppers, Scale Insects, Termites, Dragonflies, Flies, Mealworms, Others), Application (Feed, Food and Beverage, Pharmaceuticals, Cosmetics), Distribution Channel (Direct, Indirect) – Industry Trends and Forecast to 2029
Market Analysis and Size
Insect protein is widely being consumed as a feed additive across the region for aquaculture, poultry, and other animals. These are gaining high relevance among the animal feed manufacturers due to amino acid and protein content ranging from 40% to 70% and high digestibility.
Asia-Pacific Insect Protein Market was valued at USD 142.42 million in 2021 and is expected to reach USD 1,286.40 million by 2029, registering a CAGR of 22.60% during the forecast period of 2022-2029. Feed segment is dominating the insect protein market as insect protein is very popular for feeding livestock in Asian countries. In addition to the market insights such as market value, growth rate, market segments, geographical coverage, market players, and market scenario, the market report curated by the Data Bridge Market Research team also includes in-depth expert analysis, import/export analysis, pricing analysis, production consumption analysis, patent analysis and consumer behaviour.
Market Definition
Insect proteins refer to the high-quality feedstock that is generally obtained from insects. These feedstock can be utilized as an ingredient for feed for animals, fishes and pets. These products are being considered a new food and feed source, and an initiative for moving away from the traditional sources of proteins including soy and meat.
Report Scope and Market Segmentation
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Report Metric
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Details
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Forecast Period
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2022 to 2029
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Base Year
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2021
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Historic Years
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2020 (Customizable to 2014 - 2019)
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Quantitative Units
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Revenue in USD Million, Volumes in Units, Pricing in USD
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Segments Covered
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Insect Type (Beetles, Caterpillars, Bees, Wasps and Ants, Grasshoppers, Locusts, Crickets, True Bugs, Black Soldier Flies, Cicadas, Leafhoppers, Plant Hoppers, Scale Insects, Termites, Dragonflies, Flies, Mealworms, Others), Application (Feed, Food and Beverage, Pharmaceuticals, Cosmetics), Distribution Channel (Direct, Indirect)
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Countries Covered
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China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC)
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Market Players Covered
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AgriProtein (South Africa), Enterra Feed Corporation (Canada), Aspire Food Group (Canada), Beta Hatch (US), BIOFLYTECH (Spain), Chapul Cricket Protein (US), Entobel (Vietnam), Entocycle (UK), Entomo Farms (france), Global Bugs (Thailand), Haocheng Mealworms Inc. (China), Hexafly (Ireland), Innovafeed (France), Insectum (Norway), nextProtein (France), Protenga Pte Ltd (Singapore), Protify (Sweden), PROTIX (Netherlands), Seek Food (US), Thailand Unique (Thailand), and Ynsect (France), among others
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Market Opportunities
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Asia-Pacific Insect Protein Market Dynamics
This section deals with understanding the market drivers, advantages, opportunities, restraints and challenges. All of this is discussed in detail as below:
Drivers
- High Consumption of Animal Products
The increase in the consumption of animal products across the region acts as one of the major factors driving the growth of insect protein market. The rise in demand for high quality animal product superior-quality meat products such as meat among growing population has a positive impact on the market.
- Inclination towards Healthy Lifestyle
The increase in the consumer preference for dietary improvements acts as one of the major factors driving the growth of specialty food and beverage market. The rise in trend of leading a healthy lifestyle among all age groups shifting to healthy and innovative approach have a positive impact on the industry.
- Increase in Demand for Functional Foods
The increase in the functional food products further influence the market growth. Also, increase in consumers seeking healthy and sustainable food options along with growing number of sports and gym enthusiasts assist in the expansion of the market.
Additionally, change in lifestyle, increase in the disposable income and rise in awareness regarding the benefits of the nutrition plan positively affect the insect protein market.
Opportunities
Furthermore, presence of defined regulations and government support extend profitable opportunities to the market players in the forecast period of 2022 to 2029. Collaborations of insect protein-based product manufacturers with retailers will further expand the market.
Restraints/Challenges
On the other hand, high cost associated with the product and microbial risk and allergic reactions are expected to obstruct market growth. Also, reluctance in acceptance among consumers and rise in vegan trend are projected to challenge the insect protein market in the forecast period of 2022-2029.
This insect protein market report provides details of new recent developments, trade regulations, import-export analysis, production analysis, value chain optimization, market share, impact of domestic and localized market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on insect protein market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
COVID-19 Impact on Asia-Pacific Insect Protein Market
COVID-19 had a negative impact on several industries. However, insect protein market witnessed a significant growth during this period. During the lockdown imposed by the government for restricting the spread of the coronavirus disease, most of the population took keen interest in adopting health diets. People are adopting health supplements to increase their immunity with the increasing health complications. The rise in the emphasis on good health is going to keep increasing the growth of the market in the post pandemic scenario.
Recent Developments
- In June 2020, Global Bugs published a blog about Thai cricket industry for the sustainable food chain. Through such blogs, the company is trying to promote their products in the market.
Asia-Pacific Insect Protein Market Scope and Market Size
The insect protein market is segmented on the basis of insect type, application, and distribution channel. The growth amongst these segments will help you analyze meager growth segments in the industries and provide the users with a valuable market overview and market insights to help them make strategic decisions for identifying core market applications.
Insect Type
- Beetles
- Caterpillars
- Bees
- Wasps and Ants
- Grasshoppers
- Locusts
- Crickets
- True Bugs
- Black Soldier Flies
- Cicadas
- Leafhoppers
- Plant Hoppers
- Scale Insects
- Termites
- Dragonflies
- Flies
- Mealworms
- Others
Application
- Feed
- Food and Beverage
- Pharmaceuticals
- Cosmetics
Distribution Channel
- Direct
- Indirect
Asia-Pacific Insect Protein Market Regional Analysis/Insights
The insect protein market is analysed and market size insights and trends are provided by country, type, application, and distribution channel as referenced above.
The countries covered in the insect protein market report are China, Japan, India, South Korea, Singapore, Malaysia, Australia, Thailand, Indonesia, Philippines, and Rest of Asia-Pacific (APAC) in the Asia-Pacific (APAC).
In Asia-Pacific, China has occupied the highest market share due to the wide consumption of insect-based products such as cookies, snacks, pasta, and others and huge application of insect protein in aquaculture feed. After China, majority of the market share is taken by Vietnam as insect protein or insect based food consumption is followed here since ancient time and is expected to grow further with rising animal feed industry in the country.
The country section of the report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points like down-stream and upstream value chain analysis, technical trends and porter's five forces analysis, case studies are some of the pointers used to forecast the market scenario for individual countries. Also, the presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Asia-Pacific Insect Protein Market Share Analysis
The insect protein market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies' focus related to insect protein market.
Some of the major players operating in the insect protein market are
- AgriProtein (South Africa)
- Enterra Feed Corporation (Canada)
- Aspire Food Group (Canada)
- Beta Hatch (US)
- BIOFLYTECH (Spain)
- Chapul Cricket Protein (US)
- Entobel (Vietnam)
- Entocycle (UK)
- Entomo Farms (france)
- Global Bugs (Thailand)
- Haocheng Mealworms Inc. (China)
- Hexafly (Ireland)
- Innovafeed (France)
- Insectum (Norway)
- nextProtein (France)
- Protenga Pte Ltd (Singapore)
- Protify (Sweden)
- PROTIX (Netherlands)
- Seek Food (US)
- Thailand Unique (Thailand)
- Ynsect (France)
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