Global Insects as Animal Feed Market to Register 11.31% Growth during 2021-2028

Global Insects as Animal Feed Market to Register 11.31% Growth during 2021-2028

According to the United Nation’s Food and Agriculture Organization (FAO), the agriculture in the 21st century faces a key challenge of feeding a growing population. According to its report, the world population growth is expected to reach 9.1 billion by 2050. Moreover, much of this population is expected to grow in developing countries, wherein regions like Sub-Saharan region are expected to grow highest with 114%. The rising burden of population is expected to become even worse as 70% population will be concentrated in urban areas, worsening the trend of lack of skilled labour in agriculture, amidst a rising demand for food. Furthermore, the demand for meat products are expected to increase significantly, thanks to rising disposable income around the world, and income inequality considerably reduced. These trends will necessitate that the world food production needs to double with demand for products like meat, cereals to reach nearly 3 billion tonnes by 2050, rising from today’s 2.1 billion tonne. Additionally, the demand for bioenergy will also rise significantly, competing for larger share of the agricultural feeds, and driving demand for conventional feeds. The rising demand for food production, the growing efficacy of insect feeds for meat production, and growing cost-efficacy in insect feed will promise tremendous growth for the global insects as animal feed market.

Growing Interest By Start-ups in High-Protein Insect Farming Remains Key to Growth

According to International Platform of Insects for Food and Feed (IPIFF), more than 5,000 tonnes of insects have been produced for commercialization of food stocks in the EU. Since July 2017. The IPIFF estimated that the producers will achieve a much higher turnover within next few years, with its production reaching 3 million tonnes by 2030 for food applications. The IPIFF estimates that the by September 2019, there have been 600 million euros invested in commercialization of insect feed in Europe, with estimated investments rising to USD2.5 billion by 2025. The demand for insect feed in developed regions like the EU is likely to remain high as demand for high protein food continues to remain robust. On the other hand, the European livestock producers are grappled with challenges of protein deficit, while EU continues to import high levels of protein-feed to support its meat production. The insect feed promises a robust solution to an on-going problem in the European region, with rising demand for everyday products like nutrition bars, pasta, and bakery products. conventional negativity among consumers still remains a major restraint for growth in the global insects as animal feed market. However, insect products in powdered form will remain the highest growing segment as demand for high-nutrition fuels new opportunities. The growing demand for protein globally, with rising disposable income in populations of Asia Pacific, and conventional acceptance of eating insects among several countries will remain a new opportunity for growth in the global insects as animal feed market. The global insects as animal feed market remains a competitive, and innovative landscape, as low barriers to entry and low potential investment continue to drive new players to the market. Some key players in the global insects as animal feed market are Diptera Feed, AgriProtein Nutrition, Entomo Enterra, Intrexon Crop, and Farms. 

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