The market opportunity for Insect Feed across the globe is considerable and offers a stable and steady opportunity for feed suppliers, distributors and farms. The author forecasts this market to reach $1.07 billion in revenues in 2022, growing at a CAGR of 102.5% from the current year.
Global population is set to reach 10 billion over the next 30 years. Food scarcity is a critical part of the future unless production of staples is increased. This has direct implications on the livestock ecosystem. More than 3 billion in the world rely on fish for 20% of their animal protein intake.
One the last 50 years, fish consumption has increased by 100%. So, sustainable fishing is a key aspect for the future. Combined with it is also the fact of how these fish are fed. With the increase in population, there will be other challenges such as land use. Presently, one-third of all crop land is used to feed livestock.
Increased use of this land and adding more cropland is infeasible in the future scheme of agriculture planning. The rise in the importance towards alternative feeds that are also nutrient rich is an important trend that mimics into a driver for this market.
The major nutritional value that edible insects carry is its ability to delivery higher levels of protein per weight in a sustainable way. When compared to traditional feeds, insect harvesting and insect derived feeds for commercial purposes promises sizeable environmental and resource utilization advantages.
The current forecast period is a favorable cycle for insect farmers and feed suppliers. The upward trend in consumption, output per livestock and increased focus on sustainability and security are strong indicators for positive and exponential growth in revenues. With feed costs going through a downward trend., the adoption of insects as part of the feed ecosystem will make the forecast cycle a profitable growth period for both suppliers and farms.
Regulations are another factor in the mass market adoption of insect feeds. Administrations across the world are evaluating guidelines and rulebooks for the use of commercially available insect feeds as a viable alternative to conventional feeds. In fact. With an improving regulatory environment for both insect feeds and edible insects, marketplace acceptance is around the corner. Insect based feed alternatives are at a key phase in market adoption. The results from the early adopters are positive and set to create the platform for mainstream market adoption.
The disruption of the traditional feed industry through insects comes with multiple benefits and a few challenges. Insect based protein alternatives could be conventional in the future and the forecast period marks the initial push towards this.
Key Topics Covered:
1 Insect Feed: Research Overview and Summary
2 Insect Feed: Market Size and Forecast by Segments
3 Insect Feed: Market Size and Forecasts By Regions
4 Insect Feed: Market Participants and Demand Trends