The North America Insect Protein Market is expected to witness market growth of 23.6% CAGR during the forecast period (2021-2027).
Consumers are concerned about food ingredients as well as how and where their food is produced and supplied, and are prepared to pay a premium for natural items. Additionally, increased expenditure on functional food products, an increase in the number of sports and gym enthusiasts, and consumers seeking healthy and sustainable food options are all likely to drive the growth of the insect protein market throughout the forecast period.
Moreover, the demand for such products is likely to increase significantly due to growing demand from a variety of industries, including animal feed, food and beverages, pharmaceuticals, cosmetics, and others. Edible insects, which may be raised on organic waste, generate very low greenhouse emissions and hence have the potential to replace conventional protein production.
The region is witnessing an increased demand for nutritional food items and consumer knowledge about the use of insect-based goods. In addition, Mexico and Canada have a lot of room for new companies and product launches. With the growing population growing and the demand for traditional hog, cattle, and chicken meat increasing, insects are being seriously explored as a source of animal protein. As a result, manufacturers have begun launching insect protein powder-based products in the form of protein bars, protein powder, pasta, and bakery products in these locations, where edible insect acceptance is low. Because the insects are not visible to the public, these items are widely accepted. As a result, many companies producing insect protein powders have emerged in North America and Europe, and they are growing their production capacity.
Insect protein is primarily utilized in animal feed; however, due to rising consumer health awareness, demand for insect protein for human consumption is expected to develop at a rapid rate. Some of the key trends of the regional market are an increase in the number of start-ups producing insect-based food products, as well as higher adoption of the goods in the region.
The US market dominated the North America Insect Protein Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $202.9 million by 2027. The Canada market is poised to grow at a CAGR of 26.4% during (2021 - 2027). Additionally, The Mexico market is expected to witness a CAGR of 25.3% during (2021 - 2027).
Based on Source, the market is segmented into Coleoptera, Hemiptera, Hymenoptera, Lepidoptera, Orthoptera, Diptera, and Others. Based on Application, the market is segmented into Animal Nutrition, Food & Beverages, Pharmaceutical & Supplements, and Personal Care & Cosmetics. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include InnovaFeed, Darling Ingredients, Inc., SAS Ynsect, Protix BV, NTG Holdings Pte. Ltd., Goterra, Entomo Farms, Chapul, Aspire Food Group, and Hexafly.
By Source
By Application
By Country: US, Canada, Mexico, and Rest of North America.
Consumers are concerned about food ingredients as well as how and where their food is produced and supplied, and are prepared to pay a premium for natural items. Additionally, increased expenditure on functional food products, an increase in the number of sports and gym enthusiasts, and consumers seeking healthy and sustainable food options are all likely to drive the growth of the insect protein market throughout the forecast period.
Moreover, the demand for such products is likely to increase significantly due to growing demand from a variety of industries, including animal feed, food and beverages, pharmaceuticals, cosmetics, and others. Edible insects, which may be raised on organic waste, generate very low greenhouse emissions and hence have the potential to replace conventional protein production.
The region is witnessing an increased demand for nutritional food items and consumer knowledge about the use of insect-based goods. In addition, Mexico and Canada have a lot of room for new companies and product launches. With the growing population growing and the demand for traditional hog, cattle, and chicken meat increasing, insects are being seriously explored as a source of animal protein. As a result, manufacturers have begun launching insect protein powder-based products in the form of protein bars, protein powder, pasta, and bakery products in these locations, where edible insect acceptance is low. Because the insects are not visible to the public, these items are widely accepted. As a result, many companies producing insect protein powders have emerged in North America and Europe, and they are growing their production capacity.
Insect protein is primarily utilized in animal feed; however, due to rising consumer health awareness, demand for insect protein for human consumption is expected to develop at a rapid rate. Some of the key trends of the regional market are an increase in the number of start-ups producing insect-based food products, as well as higher adoption of the goods in the region.
The US market dominated the North America Insect Protein Market by Country in 2020, and is expected to continue to be a dominant market till 2027; thereby, achieving a market value of $202.9 million by 2027. The Canada market is poised to grow at a CAGR of 26.4% during (2021 - 2027). Additionally, The Mexico market is expected to witness a CAGR of 25.3% during (2021 - 2027).
Based on Source, the market is segmented into Coleoptera, Hemiptera, Hymenoptera, Lepidoptera, Orthoptera, Diptera, and Others. Based on Application, the market is segmented into Animal Nutrition, Food & Beverages, Pharmaceutical & Supplements, and Personal Care & Cosmetics. Based on countries, the market is segmented into U.S., Mexico, Canada, and Rest of North America.
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include InnovaFeed, Darling Ingredients, Inc., SAS Ynsect, Protix BV, NTG Holdings Pte. Ltd., Goterra, Entomo Farms, Chapul, Aspire Food Group, and Hexafly.
Scope of the Study
Market Segments Covered in the Report:
By Source
- Coleoptera
- Hemiptera
- Hymenoptera
- Lepidoptera
- Orthoptera
- Diptera
- Others
By Application
- Animal Nutrition
- Food & Beverages
- Pharmaceutical & Supplements
- Personal Care & Cosmetics
By Country: US, Canada, Mexico, and Rest of North America.
Key Market Players
List of Companies Profiled in the Report:
- InnovaFeed
- Darling Ingredients, Inc.
- SAS Ynsect
- Protix BV
- NTG Holdings Pte. Ltd.
- Goterra
- Entomo Farms
- Chapul
- Aspire Food Group
- Hexafly
Unique Offerings from the Publisher
- Exhaustive coverage
- The highest number of market tables and figures
- Subscription-based model available
- Guaranteed best price
- Assured post sales research support with 10% customization free
Table of Contents
Chapter 1. Market Scope & Methodology
Chapter 2. Market Overview
Chapter 4. North America Insect Protein Market by Source
Chapter 5. North America Insect Protein Market by Application
Chapter 6. North America Insect Protein Market by Country
Chapter 7. Company Profiles
Companies Mentioned
- InnovaFeed
- Darling Ingredients, Inc.
- SAS Ynsect
- Protix BV
- NTG Holdings Pte. Ltd.
- Goterra
- Entomo Farms
- Chapul
- Aspire Food Group
- Hexafly
Methodology
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