A substantial rise in demand for edible insects in poultry and aquaculture industries as an alternative protein source is fuelling the growth of edible insects for animal feed market, with one estimate indicating a CAGR of 38.9% during the forecast period from 2022 to 2031.
Besides more obvious advantages of minimal space requirement, and low environmental impact, some other key factors driving edible insects for animal feed market are also at play.
According to Transparency Market Research Inc (TMR), these factors include demand for low-cost and highly nutritive feed ingredients is driving manufacturers of edible insect feed to increase their production capacity.
Image credit: California Department of Fish and Wildlife on Flickr
(CC BY 2.0)
The focus of manufacturers for customised edible insects for animal feed, predominantly for pet food, poultry, and aquaculture to boost sales of the edible insects for animal feed market. The launch of a new line of enriched products, especially for livestock and pet feed to create new revenue streams.
An increase in prices of conventional aquaculture feed ingredients is also driving fish farmers to adopt cost-efficient sources of protein such as insect meal. High nutritive value, lower production and processing cost, and low impact on the environment demonstrate increasing demand for insect meal over fish feed ingredients.
The role of manufacturers to increase production capacity, and expand their product portfolio to serve the growing demand from fish farms to elevate the market value of edible insects for animal feed market.
Key findings of the report
The key findings of the TMR report indicate that extremely low initial stage production cost of insect-based feed products is also fueling the increased demand for edible insects. This is attracting investments, and therefore manufacturers are in the process of increasing their production capacities to result into expansion of the edible insects for animal feed market.
Large percentage of conventional sources of protein such as wheat protein, potato protein, and fish meal in the production cost of livestock is leading to increasing inclination toward insect-based protein products. Mealworms insect type segment held the leading share of 51.6 percent of edible insects for animal feed market in 2022.
Additional factors such as high nutritional value, and lower risk of zoonotic diseases account for the leading demand for mealworms segment. Mealworms also serve to be a sustainable alternative, and waste generated by animals by consuming mealworms is an ideal organic fertiliser.
The meal (powder) product type segment is anticipated to hold the leading market share of edible insects for animal feed market in 2022.
Europe is projected to hold the leading 34.5 percent share of edible insects for animal feed market in 2022. Large demand for edible insects in the animal feed industry, and relaxation of law in the utilization of insect protein in feed products for poultry, pigs, and fish create ample opportunities in edible insects for animal feed market in the region.
For example, North America is anticipated to hold a significant approximately 33 percent share of edible insects for animal feed market in 2022.
To read more, follow this LINK.
The Aquaculturists
No comments:
Post a Comment