As this generation possesses informed choices regarding their food habits, they opt for those products which has health benefits and is affordable as well. Keeping in view the demands of health conscious consumers, the food industries are introducing numerous health based food items in their product portfolio. This is the reason the insect proteins came into picture. Insect protein is enriched with iron and contains several other nutrients needed to curb out many diseases. So they are widely used in pharmaceuticals industry. The manufacturers are indulged in producing essential proteins from the edible insects. They are also a solution to hunger and food insecurity. As insects are more nutritious than meat, so people are switching to insect proteins.
Covid-19 Scenario Analysis
- People prefer only the natural and organic products due to the outbreak, thus this led to decline in demand of the animal protein. Due to the disruptions in supply chain, there has been decline in the economy of insect protein market.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers, and Impact Analysis
The customer preference towards the healthy food and rise in the disposable income of people are the prominent reasons for its market expansion. Although lack of hygiene practices in the edible insect protein market is a major restraint in its growth. Owing to its health benefits, it is also used in the preparation of certain cosmetics. Due to their nutritional content, they are considered as a potential substitute of meat proteins. Hence, all these factors are responsible for the rising demands of insect proteins.
New Product Launches to Flourish the Market
- Many companies are investing money for the launch of new variants in order to attract the target market. For instance the launch of Cricket Flour, Keto Protein has changed the business environment of insect protein market.It contains vitamins B2 and B12, Iron, Calcium, Manganese and Phosphorous, which favors its adoption. The rise in number of health conscious consumers facilitates the demand of these kinds of products.
- Surge in Usage in Sports Nutrition
- In order to get rapid growth in muscles and body, they are widely used in the sports nutrition, where high energy is needed. Insect proteins contain essential nutrients which can’t be provided by the beef protein, thus gym trainers also recommend insect proteins. Due to high energy content, they are widely used in the professions where high energy is required.
Key Benefits of the Report
- This study presents the analytical depiction of the global insect protein market along with the current trends and future estimations to determine the imminent investment pockets.
- The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the global insect protein market share.
- The current market is quantitatively analyzed to highlight the global insect protein market growth scenario.
- Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
- The report provides a detailed global insect protein market analysis based on competitive intensity and how the competition will take shape in coming years.
Questions Answered in the Insect Protein Market Research Report
- Which are the leading players active in the insect protein market?
- What are the current trends that will influence the market in the next few years?
- What are the driving factors, restraints, and opportunities of the market?
- What future projections would help in taking further strategic steps?
Insect Protein Market Report Highlights
By Insect type
Key Market Players
Hexafly (Ireland), Innovafeed (France), Chapul Cricket Protein (US), Ÿnsect (France), AgriProtein Holdings Ltd (South Africa), Protix (Netherlands), Jimini’s (France), EnviroFlight LLC (US), EntomoFarms (Canada), Imago Insect Products GmbH (Germany), Aspire Food Group (US), Protifarm (Netherlands)