Pune, India, February 01, 2019 -- /360iResearch/ -- The report "Global Insect Protein Market - Premium Insight, Industry Trends, FPNV Positioning Matrix, Competitive News Feed Analysis, Company Usability Profiles, Market Sizing & Forecasts to 2024 (Q4 2018 Update)", published by 360iResearch, states that the global market was valued at USD 347.57 million in 2017 and is projected to reach USD 1,394.47 million by 2024, growing at a CAGR of 21.95% from 2017 to 2024.
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The major forces driving the growth of the insect protein market include the rising popularity of insect protein due to high nutrition value making them ready substitutes for poultry and fish and harvesting protein insects considered more environment-friendly than raising livestock. Moreover, positioning as a superfood by the leading end-use product manufactures and emerging as a comparatively cheaper protein source are also some of the factors that are driving the market growth. However keeping cost low, and lack of know-how and standardization towards mass production may hinder the market growth. In the middle of difficulty lies opportunity such as the booming insect-food start-ups, and increasing market prospects for non-gmo and organic certified products. The possible challenges for the market growth are stereotypes discouraging consumption in developed economies, and ambiguously defined regulatory framework. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on product, the global insect protein market is studied across Insect Baked Products & Snacks, Insect Beverages, Insect Confectionaries, Insect Meal, Insect Oil, Insect Powder, Insect Protein Bars & Protein Shakes, and Whole Insects. Based on type, the global insect protein market is studied across Ants, Black Soldier Flies, Cicadas, Crickets, Grasshoppers, Mealworms, and Silkworms. Based on application, the global insect protein market is studied across Cosmetics & Personal Care, Feed, Food & Beverages, and Pharmaceuticals. Based on distribution channel, the global insect protein market is studied across Offline Mode, and Online Mode. Based on geography, the global insect protein market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
The report features a competitive scenario of the insect protein market and provides inclusive analysis of key growth strategies adopted by major players. Key company profiled in the study are Agriprotein Technologies, Bugsolutely, Crik Nutrition, Deli Bugs Ltd., Entomo Farms Ltd, Enviro Flight, Exo Inc., Griopro, Hargol Food Tech, Hopper Foods, Kreca Ento-Food, Kric8, Nordic Insect Economy Ltd, Proti-Farm, and Thailand Unique.
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Miss. Shikha Sachan
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