Insect Feed Market:
The GMI Research expects the insect feed market to expand at a high rate. From a regional perspective, the North America is projected to lead the market due to increasing Hawaii insects producing companies. The growing production of Hawaii insects and the rising use of Hawaii insects to produce insect feed will boost the growth of the market.
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Insect Feed Market Dynamics (including market size, share, trends, forecast, growth, forecast, and industry analysis)
Key Drivers
The key drivers contributing to the growth of the global insect feed market during the forecast period include the increasing importance of alternative feeding. The edible insects have several numbers of nutritional advantages and deliver higher protein levels per weight in an improved way. According to the Food and Agriculture Organization (FAO) of the UN, the total world's population is expected to meet about 9 billion by the end of 2050. This will lead to an upsurge in demand for food of animal origin, thereby fuelling the need for protein for feeding livestock.
The drastic changes in diet patterns, the growing population, and the rising demand for food products, including fish, meat, and eggs, have increased the need for additional suppliers of protein from several sources like animal feed. According to a study held by the Food and Agriculture Organization (FAO) of the United Nations, the total livestock production accounted for 70% of the total agricultural land that is in use. For instance, crickets require 12 times less feed than cattle, half in comparison to pigs, and four times less than sheep. The rising awareness about the several health benefits of insect feed is further bringing new growth opportunities in the market. In addition to this, the insect feed has less protein and more fat, which makes them opt for human consumption. On the other hand, one of the factors that is hampering the market growth include the rigorous rules and regulations related to the launch of the new feed. For example, the European approach to utilize insects as feed is mostly affected by the launch of Bovine Spongiform Encephalopathy (BSE), which has a high risk to consumer health.
Insect Feed Market’s leading Manufacturers:
• Alltech Coppens
• AgriBriefing Ltd.
• nextProtien
• Enviroflight
• Protix
• InnovaFeed
• Tiny Farms
• Insect Technology Group Holding UK Ltd.
• Enterra Corporation
Insect Feed Market Segmentation:
Segmentation by Source:
• Meal Worms
• Fly Larvae
• Others
Segmentation by Application:
• Aquaculture
• Poultry
• Pig
• Others
Segmentation by Region:
• North America
o United States of America
o Canada
• Asia Pacific
o China
o Japan
o India
o Rest of APAC
• Europe
o United Kingdom
o Germany
o France
o Spain
o Rest of Europe
• RoW
o Brazil
o South Africa
o Saudi Arabia
o UAE
o Rest of the world (remaining countries of the LAMEA region)
About GMI Research
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