Insect Media Market Research Report – Segmented By Region (North America, Europe, Asia-Pacific, Middle-East & Africa, Latin America) – Analysis on Size, Share, Trends, COVID-19 Impact, Competitive Analysis, Growth Opportunities and Key Insights from 2019 to 2030.
Published date -30th Jan 2024
Formats -PDF, CSV
1. What is the Market Size & CAGR of Insect Media market in 2021?
The global insect media market is expected to have a growth rate of 5.2% CAGR from 2021 to 2026. As a result, the market is anticipated to grow by USD 1.5 billion by 2026. The insect media market includes products such as insect-based protein powders, insect-based oils, and insect-based snacks.
The growth of the insect media market can be attributed to the increasing demand for sustainable protein sources, the rising popularity of insect-based foods among consumers, and the growing awareness about the environmental benefits of insect farming.
Insect media products are rich in nutrients, environmentally friendly, and require less water and land compared to traditional livestock farming. These factors are driving the market growth and are expected to continue to fuel the demand for insect media products in the coming years.
The market size of the insect media market in 2021 was estimated to be USD 1 billion, with the largest market share coming from Europe, followed by North America and Asia Pacific. The increasing adoption of insect media products in these regions is expected to drive market growth over the forecast period.
2. COVID-19 Impact on the Insect Media Market
The COVID-19 pandemic has had a mixed impact on the insect media market. On one hand, the pandemic has led to disruptions in the supply chain, affecting the production and distribution of insect media products. This has resulted in a temporary slowdown in market growth.
On the other hand, the pandemic has also heightened consumer awareness about the importance of sustainable and environmentally friendly food sources. This has led to an increased interest in insect media products, as consumers seek out alternative protein sources that are both nutritious and environmentally sustainable.
Overall, the long-term impact of the COVID-19 pandemic on the insect media market is expected to be positive, as the demand for sustainable food products continues to grow. Market players are also likely to invest in technologies and innovations to overcome the challenges posed by the pandemic and meet the increased demand for insect media products.
3. Insect Media Dynamics
The insect media market is driven by a combination of factors, including increasing consumer awareness about sustainable food sources, the rising demand for alternative protein products, and the growing emphasis on environmental sustainability.
Key dynamics shaping the insect media market include the adoption of insect-based products by food manufacturers and retailers, the development of innovative insect farming techniques, and the expansion of insect media product offerings to cater to diverse consumer preferences.
In addition, regulatory support for insect farming and insect media products, advancements in insect processing technologies, and collaborations between industry players are contributing to the growth and development of the insect media market.
4. Segments and Related Analysis
The insect media market can be segmented based on product type, distribution channel, and region. Product segments may include insect-based protein powders, insect-based oils, insect-based snacks, and others.
Distribution channels for insect media products may include supermarkets/hypermarkets, specialty stores, online retail, and others. Geographically, the market can be divided into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa.
Related analysis of the insect media market may focus on consumer preferences, market trends, competitive landscape, regulatory environment, and technological advancements in insect farming and processing.
5. By Region Analysis
North America is expected to dominate the insect media market, driven by the presence of key market players, growing consumer awareness about sustainability, and increasing demand for alternative protein sources in the region.
Europe is anticipated to be a significant market for insect media products, supported by favorable regulatory frameworks, a well-established insect farming industry, and rising consumer interest in environmentally friendly food options.
The Asia Pacific region is also poised for growth in the insect media market, as emerging economies, changing dietary preferences, and increasing focus on sustainable agriculture drive demand for insect-based products in the region.
Latin America and the Middle East & Africa regions are expected to witness gradual growth in the insect media market, supported by increasing awareness about the benefits of insect farming, partnerships between local and international players, and investments in research and development activities.
6. Key Market Players and Competitive Landscape
Key market players in the insect media market include Entomo Farms, Protifarm, Ynsect, Bugsolutely, and Ÿnsect. These companies are actively involved in product innovation, strategic partnerships, and marketing initiatives to expand their market presence.
The competitive landscape of the insect media market is characterized by intense competition, with players focusing on quality, pricing, distribution channels, and branding to gain a competitive edge. Mergers, acquisitions, and collaborations are common strategies adopted by market players to enhance their market position.
7. Recent Happenings in the Insect Media Market
In recent years, the insect media market has witnessed several notable developments, including product launches, partnerships, investments, and regulatory updates. For example, Entomo Farms collaborated with a leading food manufacturer to launch a new line of insect-based snack products, catering to the growing demand for sustainable protein snacks.
Protifarm received funding from a venture capital firm to scale up its insect farming operations and expand its product offerings in response to increasing consumer interest in insect-based foods. Ynsect partnered with a research institute to develop new insect farming technologies that enhance efficiency and sustainability in insect production.
Bugsolutely introduced a range of insect-based pasta products in supermarkets, targeting health-conscious consumers looking for innovative and sustainable food options. Ÿnsect secured regulatory approval for its insect-based pet food products, paving the way for commercialization and market expansion in the pet food segment.