The insect protein market is estimated to be valued at USD 1.418 Bn in 2024 and is expected to reach USD 10.5 Bn by 2031, growing at a compound annual growth rate (CAGR) of 33.1% from 2024 to 2031. The market has seen steady growth over the past few years and increased awareness about environmental and health benefits of insect-based proteins is driving more consumers to shift to alternative protein sources.

Market Driver - Increasing Demand for Alternative and Sustainable Protein Sources

Insects such as crickets, grasshoppers, locusts, mealworms contain high quality protein and many essential amino acids. They can be bred much more sustainably than cattle or fish. Insects have very less land and water footprint and produce less greenhouse gases.

Further, the left-over feed from edible crops that are not suitable for human or animal consumption can be used to feed the edible insects, creating a closed loop system. Edible insects digest their feed much more efficiently than cattle. They also allow the utilization of food waste streams. All these factors make insect farming a greener option than traditional meat production systems.

With the increasing popularity of the flexitarian and vegetarian diets worldwide, people are constantly looking for sustainable alternatives to meat protein that also provides similar nutritional benefits. Insects can effectively meet these demands as they are a rich source of easily digestible, high-quality protein.

With more consumers becoming aware of the environmental advantages, the demand for insect protein is continuously rising in developed regions. This increased availability on shelf is also propelling the adoption. Overall, the rising search for eco-friendlier proteins is expected to drive more growth in the insect protein market.

Market Driver - Growing Awareness of The Environmental Benefits of Insect Farming

As climate change and sustainability issues have come into mainstream discourse in last few decades, people are constantly looking to make greener choices in their diet and lifestyle. This shift in thinking is positively impacting the insect protein domain.

Numerous studies have proved the significantly smaller ecological footprint of insects as compared to conventionally farmed meats. Insects utilize far less land, water and produce lower emissions. This appealing eco-credential is now resonating strongly with conscious buyers looking to lessen their carbon impact.

Additionally, the FAO and other UN groups have strongly endorsed insects as a more sustainable alternative protein source considering the climate challenges. This endorsement from reputed international agencies has lent credibility to this notion among general public. Rising coverage in mainstream media has also played a key role in amplifying these pro-environmental narratives around edible insects.

Many environmentally-conscious consumers now prefer having smaller insects like mealworms, crickets in their diets over conventionally reared meat as it lightens their eco-footprint. This green positioning resonates strongly with the current generation of millennial and gen Z buyers who are the early adopters of sustainable foods.

Overall, as climate change concerns dominate the global agenda, educating people about insects' sustainability benefits will continue driving greater acceptance of this novel protein source globally.

Market Challenge - Allergy Concerns Associated with Insect Proteins

One of the major challenges currently facing the insect protein market is allergy concerns associated with insect proteins. As insects become a more prevalent ingredient in foods and feeds, some consumers may be hesitant due to potential allergies.

Insects share similarities with common food allergens such as shellfish and dust mites. There is a possibility that individuals with allergies to these foods or environmental triggers may also react to certain insect species. More research is still needed to fully understand potential cross-reactivities between different insects and known allergens. Testing new insect-based products on consumers with known allergies will help gather more data.

However, full characterization of allergenic proteins present across different edible insect types has not been completed. Addressing concerns around food allergies through rigorous research and developing processing methods to reduce allergenicity will be important for gaining wider public acceptance of insect protein.

Market Opportunity - Expansion of Food Products Using Insect Protein into New Consumer Markets

One significant opportunity for the insect protein market is the expansion of food products containing insect protein into new consumer markets. Currently, most insect-based foods are targeting Health and Environment-conscious consumers.

However, there is a large potential to broaden consumer appeal by developing innovative food and beverage products incorporating insect protein that will attract new mainstream markets. For example, developing snacks, baked goods or pasta products containing ground up cricket flour could introduce insect protein to families and children.

Insect protein powders or pastes added to smoothies, protein bars or other on-the-go foods will make it easier for time-strapped consumers to include insects in their diets. As production of insect ingredients scales up, costs will fall, making insect protein a more affordable source of nutrition.

With more product development and marketing efforts, insect foods could be adopted globally and provide a sustainable alternative protein across diverse consumer segments.

Product Innovation: One of the main strategies adopted by leading companies such as Protifarm and Enviroflight has been continuous product innovation. For example, in 2019 Protifarm launched new chocolate chip cookie dough flavor using cricket flour. Enviroflight launched innovative protein bars made from black soldier fly larvae in 2018 which received positive reviews for taste and texture. Their new product line helped increase sales by over 30% that year.

Strategic Partnerships: Companies have partnered with major brands to increase accessibility and visibility of insect-based products. For example, in 2021 Protenga partnered with food giant Nestle to develop and market insect-based pet food. This high-profile partnership gave Protenga access to Nestle's global distribution network and customer base. Similarly, Aspire Food Group partnered with food startups in 2020 to introduce cricket flour into pasta, bread and protein bar recipes.

Marketing and Promotions: Aggressive marketing campaigns have been effective in raising awareness and changing consumer perceptions. For example, Nutrition Technologies promoted cricket flour as a sustainable source of protein through social media influencer campaigns in 2017.

Focus on Sustainability Attributes: Highlighting environmental benefits of insect farming and production has been a winning strategy. Companies like Exo and Entomo Farm position themselves as sustainable food solutions for the future.

Insights, By Insect: Crickets Maintain Abundant Availability and Ease of Farming

In terms of insect, crickets contribute to the highest share of the global market. Crickets make up the largest portion of the insect protein market due to several key advantages they provide over other insects. As one of the most commonly found insects worldwide, crickets are plentiful and can be easily sourced in large quantities without straining natural populations. Their omnivorous diet also makes them low-maintenance and affordable to farm compared to insects with more specific dietary requirements.

Crickets are very efficient converters of their feed into body mass, requiring less land and resources to cultivate than traditional livestock. Well-established farming techniques now allow for high-density indoor production with reliable year-round yields. Several leading producers have customized housing and harvesting automation to minimize costs. As consumer awareness grows of crickets' sustainability and nutritional merits, demand is increasing steadily and incentivizing further investment in efficient large-scale supply chains.

Beyond their natural abundance and amenable nature to intensive farming, crickets are also very appealing from a product development perspective. Their neutral flavor profile allows for incorporation into a wide variety of food forms without noticeably altering taste. Textured cricket flour can substitute traditional flours in many baked and snack products.

Insights, By Application: Insect Protein Has Most Lucrative Application as Food

Food applications have pioneered the insect protein market; thanks to the many possibilities for novel and upgraded formulations. Full insects, flours, and pastes deliver notable protein along with micronutrients to an array of savory and sweet baked goods, snacks, and other grocery products. The discretionary nature of these items allows bold packaging and marketing to stoke consumer interest.

The nutritional profile of insect protein aligns well with modern health and wellness priorities. Beyond supplying essential amino acids, studies show certain insects outperform meat and plant alternatives in key minerals. For example, crickets are an excellent natural source of iron and zinc. Food developers have capitalized on these nutritional merits to position insect-fortified options as healthier swaps.

As consumer focus on protein intake grows across demographics, food provides an approachable introduction to insects as an alternative source. Insect ingredients confer noticeable benefits without necessarily tasting unusual. They supplement existing foods with incremental wellness attributes rather than requiring an entirely new dietary behavior change.

New product innovation continues expanding the applications for insect protein within diverse cuisines. Experimentation with flavors, textures, processing methods and combinations unlocks greater consumer appeal. This positions food as the foundational and highest potential segment for driving overall category expansion.

• The EU's approval of house crickets for human consumption in 2023 significantly boosted insect protein demand in Europe, reflecting the region's regulatory leadership.
• Collaborations between companies, such as Global Bugs and Innovative Natural Solutions (April 2022), facilitate the distribution of insect-based food products to meet growing market demands.
• Insect farming requires fewer resources and emits lower levels of greenhouse gases compared to traditional livestock farming. Insects can also be farmed on organic waste, providing environmental and economic benefits.

The major players operating in the Insect Protein Market include Protix, Entomo Farms, Ynsect, Aspire Food Group, Chapul, Essento, Altimate Foods Pte. Ltd., Darling Ingredients, Flying Spark Ltd, LIVIN farms AgriFood GmbH, Armstrong Crickets Georgia, Global Bugs Asia, Hargol FoodTech, FarmInsect GmbH, and CricketOne Asia.

• In April 2024, Protix completed a Life Cycle Assessment (LCA) on its black soldier fly (BSF) products, which demonstrated a 78% reduction in CO2 emissions compared to traditional protein sources like soy and fish meal. The study highlights the environmental benefits of insect-based proteins, showcasing their ability to significantly lower land and water use, as well as carbon emissions, making them a more sustainable option for food and feed industries.
• In May 2023, Ÿnsect launched new mealworm-based products, including protein powders and whole insects, aimed at offering sustainable, high-protein options. These products were introduced as part of their broader effort to provide environmentally friendly protein sources, which have a lower carbon footprint compared to traditional livestock. The mealworms, particularly the Tenebrio molitor species, are highlighted for their high protein content (up to 72%) and essential nutrients. These new offerings are part of a growing trend in using insects as alternative protein sources for both human and pet food.
• In September 2021, Hoppy Planet Foods acquired the EXO Protein brand from Aspire Food Group. This acquisition allowed Hoppy Planet Foods to expand its portfolio of insect-based protein products, which are seen as sustainable alternatives to traditional animal proteins. Aspire Food Group, which had acquired EXO in 2018, decided to focus more on insect farming and production, leading to the sale of the EXO brand.

• By Insect
  • Crickets
  • Mealworms
  • Grasshoppers
  • Others
• By Application
  • Food
    • Protein Flour
    • Protein Bars
    • Snacks
  • Beverages
  • Cosmetics