Dublin, April 26, 2023 (GLOBE NEWSWIRE) -- The "Insect Animal Feed Market - Forecasts from 2023 to 2028" report has been added to ResearchAndMarkets.com's offering.
The global insect animal feed market is projected to grow at a CAGR of 45.45% to reach US$18,202.35 million in 2028 from US$1,321.92 million in 2021.
Insect species are fed to animals as food, either for pets or for cattle, including in aquaculture. A variety of insects can be utilized as feed for aquaculture due to their nutritional profile, particularly the high protein content. Research has been conducted on pigs, poultry, and edible fish that are fed an insect-based diet.
For swine and poultry, insects can offer the same amount of protein and necessary amino acids that could conceivably replace soybean meal in a diet. Mealworms, common house fly larvae, and black-soldier flies are a few of the most prevalent insects used in the preparation of animal feed.
Common house flies and black army flies are frequently found in manure and organic garbage. Growing insects could improve the management of organic waste and manure while giving pets and cattle nutrient-rich nutrition.
The insect animal feed market growth is anticipated to grow with increasing production capacity and R&D in insect-based animal feed products.
Initially, the cost of producing insect-based feed items is quite minimal. The market for eatable insects is expanding. As a result, businesses have increased their production capacities. The economic potential of insect-based animal feed products is being recognized by investors.
For instance, researchers at Scotland's Rural College (SRUC) received more than £10,000 in December 2022 to study the use of edible insects in livestock feed. To design a plan for growing insects for animal feed, specifically the black soldier fly, the research will bring together insect farmers, feed industry operators, and policymakers.
The research was supported by the Sefari (Scottish Environment, Food and Agriculture Research Institutes) Gateway, and experts at the SRUC have earned the Innovative Knowledge Exchange grant worth over £10,700.
Mealworms are the most common sort of insect in the insect animal feed market.
The great nutritional value and low danger of zoonotic infections of mealworms are the main reasons for their increasing demand. In addition, they offer an animal protein source that is more environmentally friendly than the usual ones. Furthermore, the feces produced by animals after eating mealworms can be utilized as a good organic fertilizer. As a result, it is anticipated that the mealworms category will hold a sizeable portion of this market.
Based on animal type, the aquaculture segment is anticipated to occupy a sizeable proportion of the market for insect animal feed.
The market for insects used as food is dynamic and influenced by a number of variables. Notably, according to a survey from the International Platform of Insects for Food and Feed (IPIFF), the aquafeed industry became the primary target for Food Business Operators (FBOs) with the approval of insect Processed Animal Proteins (PAPs) in aquaculture.
The insect feed offers aquafeed as a feasible, protein-rich alternative. The outcome of substituting fishmeal in aquaculture species' diets has been encouraging. In addition, because of their high protein and energy content, insects are increasingly becoming recognized as a suitable source of animal feed.
Europe has a sizable portion of this market however Asia Pacific is expected to grow quickly throughout the projected period.
The market in Asia Pacific is anticipated to expand rapidly, due to the rising demand for products made from insects for animal feed and livestock husbandry. In the Asia Pacific region, end-use industries like pet food and feed, livestock, and aquaculture are developing, which in turn, help the insect animal feed market.
Further, a sizable portion of the market for insects used as animal feed is in Europe. The bug species with the fastest rate of growth in the region's market for edible insects used as animal feed are mealworms, black soldier flies, and orthoptera. Additionally, Europe is host to a sizable number of start-up businesses that concentrate on breeding and creating products using insects.
Key Developments:
- Protix, a company that produces sustainable ingredients from insects, announced in October 2022 that it had received investments worth US$57.2 million from the European Circular Bioeconomy Fund (ECBF), The Good Investors, the Prince Albert II Fund, and BNP Paribas. The company's current investors Aqua-Spark, Rabo Investments, and Invest-NL also contributed money to the investments. Protix plans to use the funds for international growth and to carry out more research and development on insect-based compounds.
- French firm Invers acquired €15 million in funding in September 2022 to turn insects into a substitute source of proteins for livestock feed. The fund was administered by Citizen Capital in collaboration with Fondation Avril, as also IDIA Capital Investissement, and Agri Impact were the main investors in the Series A round. 500 specialized retailers around France that are part of national networks like Gamm Vert, Magasin Vert, and Botanic already offer Invers' full line of pet food products.
Key Attributes:
| Report Attribute | Details |
| No. of Pages | 138 |
| Forecast Period | 2021 - 2028 |
| Estimated Market Value (USD) in 2021 | $1321.92 million |
| Forecasted Market Value (USD) by 2028 | $18202.35 million |
| Compound Annual Growth Rate | 45.4% |
| Regions Covered | Global |
Market Segmentation:
By Type
- Crickets, Locusts & Grasshoppers
- Mealworms & Silkworms
- Black Soldier Flies & House Flies
By Animal
- Swine
- Poultry
- Aqua
- Others
For more information about this report visit https://www.researchandmarkets.com/r/wnlzgd
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