Insect Feed Market Outlook:
Insect feed market size is forecasted to reach USD million by 2029, growing at a CAGR of 11.5% during the forecast period (2022-2029). Increasing population, changing diets, and increasing demand for food (particularly meat, fish, and eggs) are key drivers for the insect feed market growth. The demand for insect feed will increase in the coming years due to the increased requirement for extra supplies of protein from sustainable sources for animal feed as a result of this increase in food consumption
In the Asia Pacific, the demand for insect feed is expected to grow during the forecast period as the region’s increasing meat consumption market compelled the demand for nutritious insect feed in past couple of years.
In 2021, North America had the highest revenue share of almost XX percent. Key countries in this region have imported a large number of livestock feed products. According to The International Trade Centre, The United States had imported livestock feed value of 12 million USD in 2021. In addition, the U.S. Department of Agriculture (USDA) and the U.S. Agency for International Development (USAID) seek information, suggestions, and opinions regarding the developing international insect production market.
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Related Report:
Insect Protein Market is segmented by Insect Type (Orthoptera, Beetles, Mealworms, Cicadas, Termites, Bees, Wasps, Ants, and others), By End-Use Industry (Food & Beverages, Animal Nutrition (Aquafeed, Pet Food, and Cattle Feed) ), and by Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
Edible Insects Market is segmented By Insect Type (Crickets, Beetles, Wasps/ants, Cockroaches, Caterpillars, Others), By Application (Flour/Rice Products, Protein Supplements/Bars, Edible oils), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa)
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