Edible Insects for Animal Feed Market: Introduction
The latest research report published by Transparency Market Research on the global market for edible insects for animal feed such as Europe, North America, Latin America, Oceania, East Asia, South Asia, Middle East & Africa industry analysis and growth opportunity assessment for 2021-2031. Europe holds the value share of 36.3% of the edible insects for animal feed market, which is estimated to value US$ 1.3 Bn in 2021, and it is anticipated to grow at a CAGR of 38.3% to reach US$ 22.8 Bn by 2031.
Manufacturers Incorporating End-use Specific Features
Edible insects for animal feed have a specific application in various end-use industries. The utilization and characteristics of edible insect-based products are specified based on these industries. When it comes to end-use-specific features, the functionality and constituents are the most critical considerations.
Manufacturers produces end-use-specific products with the appropriate functionality for effective results, owing to the variety of insect-based products’ applications in various end-use applications. Thus, the range of eating bug applications increases in other end-use sector, and the demand for end-use-specific edible worms, as well as their products, is expected to increase globally.
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Live or dried insect larvae are utilized as nutritious food in chicken farming, while insect-based protein powder is used as an animal feed addition for extra protein requirements.
Increasing Production Capacity and Investments in Insect-based Animal Feed Products
The initial investment necessary for companies to begin producing insect-based animal feed products is quite natural. As the demand for insect-based protein products grows, manufacturers focuses to raise their manufacturing capacity.
Insect-based animal feed products are proving a profitable business opportunity for investors. Such investments enable manufacturers to expand their production facilities in order to meet the global demand for alternative source of protein in animal diet. The demand for edible insects for animal feed is anticipated to rise as interest grows and manufacturers’ production capacities expand.
AgriProtein invested in a new production facility in California, which has an annual production capacity of 4,000 tons. The Nutrition Technology Group invested in its Malaysia-based production facility with the aim to increase its production capacity. This investment increased the production capacity of the company by 1,000 tons per month.
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Preference of Insect Feed over Conventional Feed
Fish meal is used for aquaculture farming, and other types of meat are used in pet feed. The cost of these types of feed is very high, and edible insects are a cheaper alternative for manufacturers of fish feed. These factors are influencing the buying behavior of customers and players in the aquaculture industry, and ultimately, they show an inclination toward use of insect-based products for animal feed. This has increased the popularity of edible insects for animal feed, especially in Europe and North America. The rising popularity of edible insects is anticipated to boost the growth of the edible insects for animal feed market across the globe.
Organic Feed Ingredients to Gain Traction
Consumers are more aware of the benefits of utilizing organic products lead to increase in the demand for organic products in the feed industry that offers growth opportunities for edible insect growers and insect protein producers to provide high-quality standard products.
Insect farmers and insect protein manufacturers focus on best practices for organic insect farming by which they can offer organic bug feed that meets quality standards and norms.
According to the Green Deal of EU, a set of EU regulatory and policy guidelines to relate both boosting the green economy and environment-friendly practices has been set up. The deal includes a legal target to increase organic animal feed production by 25% in the EU by the end of 2030.
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Global Edible Insects for Animal Feed Market Segmentation
Edible Insects for Animal Feed Market by Insects Type
· Black Soldier Fly
Edible Insects for Animal Feed Market by Product Type
· Meal (Powder)
· Whole (Dried Insects)
Edible Insects for Animal Feed Market by End-Use
· Pet Food
Edible Insects for Animal Feed Market by Region
· North America
· Latin America
· East Asia
· South Asia
· Middle East & Africa
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