Insect Feed Market share

According to the latest report by IMARC Group, titled “Insect Feed Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” offers a comprehensive analysis of the industry, which comprises insights on the global insect feed market share .The report also includes competitor and regional analysis, and contemporary advancements in the market.

The global Insect feed market size reached US$ 877.1 Million in 2022. Looking forward, IMARC Group expects the market to reach a value of US$ 1,649.4 Million on by 2028, exhibiting a growth rate (CAGR) of 11.3% during 2023-2028.

Insect feed represents the insect species utilized for meeting the specific requirements of various animals. They are prepared in the form of pellets, meals, or crumbles and aid in reducing the dependency on traditional spread streams while bringing valuable ingredients back into the food chain from organic waste materials. Insect feed lowers the environmental impact of livestock production as its mass manufacturing delivers more useful protein quantities. As a result, these species find widespread applications in aquaculture and pig, poultry, and dairy nutrition across the global.

Market Trends:

The escalating demand for meat products among individuals, which has expanded the utilization of high-quality spreads for achieving higher yields, is primarily driving the insect feed market. Besides this, the elevating requirement for insects as novel meal additives to improve gut health, owing to bioactive components, such as lauric acid, antimicrobial peptides, and chitin, is further augmenting the market growth. Moreover, the rising population across countries and the changing dietary patterns of individuals are also catalyzing the global market. Apart from this, the growing popularity of several insect species for human consumption, on account of high protein and low-fat contents, is acting as another significant growth-inducing factor.

Additionally, the inflating product need as it does not transmit zoonotic diseases, and the increased feed conversion ratio of insects compared to livestock and poultry are also stimulating the market growth. Furthermore, the development of innovative variants that can be produced on organic waste and emit fewer greenhouse gases and ammonia than conventional livestock is anticipated to propel the insect feed market over the forecasted period.

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Competitive Landscape:

The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.

Alltech Coppens, Bühler Holding AG, Enterra Corporation, Entofood Sdn Bhd., EnviroFlight LLC (Darling Ingredients Inc.), Hexafly, InnovaFeed, Multibox, nextProtein, Protix and Ÿnsect

The report has segmented the market on the basis of type, application and region.

Breakup by Product Type:

o Meal Worms
o Fly Larvae
o Silkworms
o Cicadas
o Others

Breakup by Application:

o Aquaculture
o Pig Nutrition
o Poultry Nutrition
o Dairy Nutrition
o Others

Regional Insights:
Asia Pacific
North America
Middle East and Africa
Latin America
On the geographical front, Asia Pacific enjoys the leading position in the market. This can be attributed to the rising establishment of international companies in the region, on account of low manufacturing costs and cheap labor.

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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