Global Insect Feed Market Value to Witness a Rise at 17.9% CAGR Through 2033 | Future Market Insights, Inc.

• The Insect Feed Market is poised for significant growth from 2023 to 2033, driven by the global demand for environmentally sustainable and nutrient-rich animal nutrition solutions.
• Insects, such as black soldier flies and mealworms, are gaining traction as a protein-rich alternative for animal feed, addressing both the need for eco-friendliness and improved animal health.
• This trend reflects a growing awareness of the need for sustainable food production practices in the face of increasing global population and resource constraints.

NEWARK, Del., Oct. 9, 2023 /PRNewswire/ -- According to our projections, the worldwide demand for insect feeds can be pegged at roughly US$ 1,561 million for 2023. Furthermore, the sales of insect feeds are projected to rise globally at a pace of 17.9% per year from 2023 to 2033. Ultimately, the global insect feed market's net value will reach almost US$ 8,124 million by 2033.

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As many animals ingest the insects naturally, it makes sense to think about using insect proteins as a potential source of commercial feed additionally, because insects include bioactive components, they are increasingly being used as innovative feed additions to promote the gut health of pet animals.

Sales of animal feed additives are also expected to be constrained by the strict laws and regulations related to introducing new insect feed. For example, the Bovine Spongiform Encephalopathy problem poses a crucial threat to consumer health and safety, impacting the overall approach of using insects as feed in Europe. Another main roadblock to adopting insects as feed in many places is the lack of clear laws and standards governing their usage as food.

"Prominent industries producing animal feed have started investing in research to produce cutting-edge insect feed products to expand consumer base in the international market. Besides, some insect feed suppliers are working with other producers to include their goods in preparation of the final product for livestock." – Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.).

Key Takeaways from the Global Insect Feed Market Study Report by FMI

• The United States captured most of the global market and is predicted to contribute US$ 491.7 million in 2023.
• Germany is the leading supplier of insect feeds in Europe and it may contribute to nearly 5.8% of the global market share in 2023.
• Insect feed demand is rising in China and South Korea, which is expected to lead to strong growth in the Asia Pacific. In 2023, the two countries are estimated to contribute nearly 15.8% and 2.8% of the global revenue share respectively.
• Australia is another emerging market for insect feeds in the Asia Pacific with an estimated global market share of 1.9% in 2023.
• With an overall market share of nearly 43% in 2023, the aquaculture segment is expected to lead the market among end users.

 

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Competitive Landscape

To increase their product offerings and introduce cutting-edge items, leading insect feed manufacturers spend highly on research and development. For instance, Nutrition Technologies Company declared in June 2022 to create bacteriophages to replace antibiotics in the protein found in black army flies.

Recent Developments

Protenga Incorporate obtained nearly US$ 1.6 million in July 2020 with Roslin Technologies, a British agri-tech startup. The investment has been made to discover the black soldier fly's new, effective genetic strains for use in aquaculture, livestock, and pet feed.

Nutrition Technologies and Evonik partnered in March 2022 to do research and development on poultry insect feed. The partnership concentrated on the amino acid needs of Southeast Asian BSF to achieve sustainable results in livestock production by optimizing BSF diets.

In May 2022, Pet World Nutrition Technologies, SPCA Selangor, and Nutrition Technologies introduced a sustainable commercial dog food containing protein from black soldier fly larvae.

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About the Author:

Nandini Roy Choudhury (Client Partner for Food & Beverages at Future Market Insights, Inc.) has 7+ years of management consulting experience. She advises industry leaders and explores off-the-eye opportunities and challenges. She puts processes and operating models in place to support their business objectives. 

She has exceptional analytical skills and often brings thought leadership to the table.

Nandini has vast functional expertise in key niches, including but not limited to food ingredients, nutrition & health solutions, animal nutrition, and marine nutrients. She is also well-versed in the pharmaceuticals, biotechnology, retail, and chemical sectors, where she advises market participants to develop methodologies and strategies that deliver results.

Her core expertise lies in corporate growth strategy, sales and marketing effectiveness, acquisitions, post-merger integration, and cost reduction. Nandini has an MBA in Finance from MIT School of Business. She also holds a Bachelor's in Electrical Engineering from Nagpur University, India.

Nandini has authored several publications, and quoted in journals including Beverage Industry, Bloomberg, and Wine Industry Advisor.

Explore FMI's Extensive Coverage in the Food and Beverages Domain:

•  The global animal feed market is anticipated to cross a valuation of US$ 530.0 billion in 2023. It is estimated to reach a valuation of US$ 929.0 billion by 2033. The market is expected to witness a decent CAGR of 7.3% from 2023 to 2033.
• The poultry feed market is expected to increase at a 5.4% CAGR from 2023 to 2033, from US$ 216.5 billion in 2023 to US$ 365.6 billion by 2033.
• The global aquafeed market is expected to increase at a CAGR of 6.8% through 2033. The market value will expand from US$ 46.8 billion in 2023 to US$ 90.9 billion by 2033.
• The global hydroponics market size is estimated to rise at a CAGR of 13.7% over the forecast period. 2023, the hydroponics industry is expected to be valued at US$ 12,644 million. The market is expected to surpass US$ 45,623 million by 2033.
•  The coconut milk market is estimated to be valued at US$ 1,233.4 million in 2023. The market is expected to reach US$ 2,199.4 million by 2033, developing at a CAGR of 6.3%.

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