New report analyses the market for insect-based feed
A report titled 'Edible Insects for Animal Feed: Global Market Analysis 2013-2017' estimates that the edible insects for animal feed market reached US $267.9 million by the end of 2018 in terms of value and will reach US $2385.6 million by the end of 2029.
To fulfil increasing food demand globally, meat production has increased. It is necessary to provide quality feed to animals to improve their meat quality. The feed industry has introduced edible insects for animal feed because insects contain high amounts of protein which is essential for the growth of livestock.
Investments in the edible insects for animal feed market are increasing. In 2018, companies producing edible insects for animal feed received large investments, for example, UK-based AgriProtein, Dutch Protix, and the French company InnovaFeed and Ynsect, which produce mealworm in France.
Insects are a healthy and nutritious alternative to staple foods such as chicken, beef, fish, and pork. However, consumers are reluctant to accept insects as direct food due to their taste and appearance.
Consumption of insects as food depends on the culture and religion in that particular region. Mostly in western regions consumption of insects as food is not acceptable yet. Edible insects for animal feed is in high demand in these regions.
The effect on environment due to insects is less as compared to livestock. Unlike soy and fish meal production, insect rearing is not a land-based activity and it does not require land clearing to expand production. This has led to an increase in demand for edible insects for animal feed.