Insect Feed Market (Covid19-Corona Impact) to see 10% CAGR up to 2030

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Insect Feed Market to Surpass US 2,204.7 Mn by
2030 FMI Report

• June 2020

Report Id REP-GB-11604 Published On May
18,2020  Category Food and Beverages
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Insect Feed Market Analysis
The global insect feed market is slated to record
a staggering CAGR over the forecast period,
2020-2030. Persistent increase in mainstream
animal feed prices derived from fish meal and
fish oil along with other forms and the larger
question of unsustainable fishing practices have
prompted market players to invest in more
inexpensive and environmentally friendly
ingredients to manufacture animal feeds. Insect
feeds have recently been poised as containing
high protein content, providing more energy
compared to plant and fish-based feeds. Moreover,
plant-based ingredients such as soy carry their
own baggage of sustainability concerns,
discouraging its usage. Enhanced feed quality
combined with reduction in greenhouse gas
emissions during production and superior feed
quality are the hallmarks propelling the insect
feed market to succeed in the coming years.
Insect feeds have made forays into multiple
application areas, including pig poultry
nutrition, dairy nutrition and aquaculture. The
utilization of organic side streams for insect
rearing also reduces the possibilities of
environmental damage. As more farmers switch over
to insect feeds, the market is anticipated to
register a positive growth curve in the years to
come. Unfortunately, the ongoing coronavirus
pandemic is set to present significant obstacles
to the market's growth trajectory, possibly
inducing stagnancy in the short-term forecast.
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Insect Feed Market Analysis

• "With the COVID-19 paralyzing the world economy,
  significant disruptions are anticipated in the
  global insect feed market. Nevertheless, leading
  manufacturers are striving to maintain
  operational flexibility to cater to burgeoning
  demand by farmers and ranchers, keeping the
  market afloat," says a lead FMI analyst.
• Global Insect Feed Market- Key Takeaways
• The poultry nutrition segment shall be the
  vanguard, followed by aquaculture in the insect
  feed market
• The European insect feed market shall emerge the
  kingpin, bolstered by increasing government
  support to switch over to sustainable
  alternatives
• China will attract sizeable investments across
  the Asia-Pacific in the swine and poultry meat
  sectors across the forecast period
• The global insect feed market shall reach a
  valuation of US 2204.7 Mn by 2030-end, up from
  US 850 Mn in 2020.

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Insect Feed Market Analysis

• Global Insect Feed Market- Key Driving Factors
• Preference for good quality protein in the
  poultry industry has provided immense traction to
  the global feed insects market. Insect feeds are
  also being increasingly used in pet markets and
  zoos.
• Increasing shift towards environmental
  sustainability has been weaning consumers away
  from traditional proteins derived from soy or
  meat to be used in animal feeds.
• Government initiatives to address food security
  problems are prompting increased production of
  insect foods and feeds.
• Global Insect Feed Market- Key Restraints
• Tough regulations concerning usage of insect
  feeds in aquaculture feeds is anticipated to
  hamper market growth. For instance, Europe
  completely prohibited utilization of insects as
  livestock feed after the outbreak of the mad cow
  disease and strictly regulates usage in the
  present scenario.
• Hostile cultural perceptions towards insect
  consumption to deter consumers from choosing
  insect-based feeds. Insects are primarily
  considered filthy, unclean and disease carriers.

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Insect Feed Market Analysis
Anticipated Impact of the COVID-19 Outbreak The
insect feed market is set to register
sluggishness across the duration of the covid-19
pandemic. With major industrial verticals
reorienting their priorities towards the
mitigation of COVID-19's impact, supply chain
disruptions cannot be ruled out. With the
imposition of bans on travel and transport, the
logistical arrangements to avail raw materials
for the processing industry has been severely
affected. Consequently, production has halted,
generating massive shortfalls in the
demand-supply equation. Social distancing
measures have prompted people to remain confined
to their houses, resulting in shortage of
manpower on the industrial site. Fortunately,
leading market players have taken cognizance of
this matter and have leveraged their production
capacities in order to address possible
shortfalls between demand and supply.
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Insect Feed Market Analysis
Competition Landscape Prominent market players
in the global insect feed market include, but are
not limited to, Agriprotein, Coppens, Buhler AG,
Hexafly, Nextprotein, Enviroflight, Diptera
Nutrition and Entofood. Besides concentration on
introducing new ingredient-specific products,
these companies are focusing equally on improving
packaging designs to meet environmental
standards. Acquiring competitive advantage by
virtue of collaborations is another important
market expansion strategy. For instance, in
January 2017, Buhler AG collaborated with Protix
to develop industrial grade solutions for feed
processing, larvae processing and larvae rearing
to produce quality insect supplies.
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Insect Feed Market Analysis
More about the Insect Feed Market Report FMI's
300-page market research report offers
comprehensive and unbiased insights on the insect
feed market. The report incorporates historical
as well as forecast data from 2020 to 2030 and is
divided into two segments by product type and by
application. By product type, the market is
segmented into meal worms, fly larvae, silkworms,
cicadas and others. In terms of application, the
market is divided into aquaculture, pig
nutrition, poultry nutrition, dairy nutrition and
others. The market also includes a detailed
regional analysis, incorporating the
abovementioned segments. These regions include
North America, Latin America, Europe, East Asia,
South Asia, Oceania and Middle East Africa
(MEA). Press Release Source accesswire.com/59326
8/Conventional-Protein-feeds-on-the-Backburner-Ins
ect-Feeds-Alternative-Proteins-Gain-Traction--Futu
re-Market-Insights
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