Insect Feed Market is estimated to be US$ 2826.77 billion by 2030 with a CAGR of 12.8 % during the forecast period
Insect Feed
Market accounted for US$ 847.57 billion in 2020 and is
estimated to be US$ 2826.77 billion by 2030 and is anticipated to register a
CAGR of 12.8%. Various varieties of insects can be utilised as feed for
industrial animal production and aquaculture due to their nutritional profile,
particularly the high protein content. Pigs,
chickens, and edible fish have all been given an insect-based diet in
scientific studies. Insects can provide swine and poultry with enough protein
and necessary amino acids to potentially replace soybean meal in their diets.
Incorporating black soldier fly larvae into a fish farming diet resulted in a
satisfactory outcome with no differences in odour or texture.
The report "Global Insect
Feed Market, By Product (Meal Worms, Fly Larvae and Others), By Application
(Aquaculture, Pig Nutrition, Poultry Nutrition and Others), and By Region
(North America, Europe, Asia Pacific, Latin America, and Middle East &
Africa) - Trends, Analysis and Forecast till 2029’’
Key Highlights:
·
In December 2021, Ecuador launches LatAm’s
first insect feed production plant.
·
In March 2021, In the province of
Alessandria, the first Italian insect farm for animal feed is about to open: an
integrated insect breeding system for the bioconversion of food waste into
protein flour and oil for use in feed manufacturing.
Analyst View:
Increasing
global consumption of meat and meat products has resulted in increased
livestock output, which necessitates the use of high-quality feed products in
order to achieve higher yields. Insects have a higher protein content and lower
fat content than typical meats like poultry and animals. As a result, they can
be made for human consumption or as a source of protein in feedstock
combinations. As the demand for meat rises, the demand for grain and protein
feeds is projected to rise as well. The key element expected to fuel growth on the worldwide insect feed
market is the expansion of the aquaculture and poultry sectors.
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Key Market
Insights from the report:
Global Insect Feed Market accounted for US$
847.57 billion in 2020 and is estimated to be US$ 2826.77 billion by 2030 and
is anticipated to register a CAGR of 12.8%. Global Insect
Feed is segmented into product, application and region.
·
Based on Product, the Global
Insect Feed Market is segmented into Meal Worms, Fly Larvae and Others.
·
Based on Application, the Global
Insect Feed Market is segmented into Aquaculture, Pig Nutrition, Poultry
Nutrition and Others.
·
By Region, the
Global Insect Feed Market is segmented into North America, Europe, Asia
Pacific, Latin America, and Middle East & Africa.
Competitive
Landscape & their strategies of Global Insect Feed Market:
The key
players in the global Insect Feed Market includes nextProtein, Buhler AG,
Hexafly, Entofood Sdn Bhd, Diptera Nutrition S.r.l, EnviroFlight LLC, Alltech
Coppens GmbH, AgriProtein Holdings Ltd., Bioflytech S.L., and HiProMine S.A.
The market
provides detailed information regarding the industrial base, productivity,
strengths, manufacturers, and recent trends which will help companies enlarge
the businesses and promote financial growth. Furthermore, the report exhibits
dynamic factors including segments, sub-segments, regional marketplaces,
competition, dominant key players, and market forecasts. In addition, the
market includes recent collaborations, mergers, acquisitions, and partnerships
along with regulatory frameworks across different regions impacting the market
trajectory. Recent technological advances and innovations influencing the
global market are included in the report.
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