Insect Feed Market Predicted to Hit US$ 1,649.4 Million by 2028

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IMARC Group, a leading market research company, has recently releases report titled “Insect Feed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028.” The study provides a detailed analysis of the industry, including the global insect feed market share, size, growth, trends, and forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.

How big is the Insect Feed Market?

The global insect feed market size reached US$ 877.1 Million in 2022. Looking forward, IMARC Group expects the market to reach US$ 1,649.4 Million by 2028, exhibiting a growth rate (CAGR) of 11.3% during 2023-2028.

What Is Insect Feed?

Insect feed involves utilizing insect species to fulfill the nutritional requirements of diverse animals. Usually manufactured in the form of pellets, meals, or crumbles, it aims to decrease dependence on traditional feed sources while repurposing valuable ingredients from organic waste materials. This practice aids in diminishing the environmental impact of livestock production by effectively transforming organic waste into protein-rich feed. Consequently, these insect species find extensive use in aquaculture and play a pivotal role in the nutrition of pigs, poultry, and dairy animals globally.

What Are The Key Factors Driving The Insect Feed Market?

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The insect feed market is undergoing substantial growth, propelled by various key factors and emerging trends. A primary driver is the escalating consumer demand for meat products, leading to an increased use of high-quality insect-based feeds to achieve higher yields in animal production. Moreover, there is a rising interest in incorporating insects as innovative additives in animal meals due to their bioactive components, including lauric acid, antimicrobial peptides, and chitin, which contribute to enhanced gut health. Global population growth and evolving dietary preferences are additional contributors to the market’s expansion. The surging popularity of specific insect species for human consumption, characterized by their high protein and low-fat content, is further fueling market growth. The insect feed market benefits from a reduced risk of transmitting zoonotic diseases compared to traditional livestock. Additionally, insects present a higher feed conversion ratio, making them an efficient source of nutrition for animals. Furthermore, the market is poised to grow with the development of innovative insect feed variants produced from organic waste, exhibiting a lower environmental impact by emitting fewer greenhouse gases and less ammonia than conventional livestock. This environmental sustainability factor is expected to drive market growth in the foreseeable future.

Report Segmentation:

The report has been segmented the market into following categories:

Breakup by Product Type:

  • Meal Worms
  • Fly Larvae
  • Silkworms
  • Cicadas
  • Others

Breakup by Application:

  • Aquaculture
  • Pig Nutrition
  • Poultry Nutrition
  • Dairy Nutrition
  • Others

Breakup by Region:

  • North America
  • United States
  • Canada
  • Asia-Pacific
  • China
  • Japan
  • India
  • South Korea
  • Australia
  • Indonesia
  • Others
  • Europe
  • Germany
  • France
  • United Kingdom
  • Italy
  • Spain
  • Russia
  • Others
  • Latin America
  • Brazil
  • Mexico
  • Others
  • Middle East and Africa

Who Are The Key Players/Companies In The Global Insect Feed Market?

Alltech Coppens, Bühler Holding AG, Enterra Corporation, Entofood Sdn Bhd., EnviroFlight LLC (Darling Ingredients Inc.), Hexafly, InnovaFeed, Multibox, nextProtein, Protix and Ÿnsect.

Key highlights of the Report:

  • Market Performance (2018-2023)
  • Market Outlook (2023-2028)
  • COVID-19 Impact on the Market
  • Porter’s Five Forces Analysis
  • Historical, Current and Future Market Trends
  • Market Drivers and Success Factors
  • SWOT Analysis
  • Structure of the Market
  • Value Chain Analysis
  • Comprehensive Mapping of the Competitive Landscape

TOC for the Report:

  • Preface
  • Scope and Methodology
  • Executive Summary
  • Introduction
  • SWOT Analysis
  • Value Chain Analysis
  • Price Analysis
  • Competitive Landscape
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