What is Global Insects as Animal Feed Market?
The Global Insects as Animal Feed Market is a burgeoning industry that has been gaining traction in recent years. This market revolves around the use of insects as a source of animal feed, providing a sustainable and eco-friendly alternative to traditional feed sources. Insects are rich in protein, vitamins, and minerals, making them an excellent nutritional choice for various animals. The market's value was estimated at US$ 463.6 million in 2023, and it is projected to reach US$ 603.7 million by 2030. This growth is driven by the increasing demand for sustainable and cost-effective animal feed alternatives, coupled with the rising awareness about the environmental impact of traditional feed sources. The market encompasses various types of insects, including black soldier flies, common housefly larvae, silkworms, and yellow mealworms, among others.
Black Soldier Flies, Common Housefly Larvae, Silkworms, Yellow Mealworms, Others in the Global Insects as Animal Feed Market:
The Global Insects as Animal Feed Market is segmented based on the type of insects used. Black Soldier Flies are a popular choice due to their high protein content and rapid growth rate. Common Housefly Larvae are also used, known for their ability to consume a wide range of organic waste, thus contributing to waste management. Silkworms, traditionally used in the textile industry, are now being recognized for their potential as animal feed, particularly for poultry and fish. Yellow Mealworms are another type of insect used in this market, valued for their high nutritional value. Other insects used in the market include crickets, locusts, and beetles. Each of these insects offers unique benefits, contributing to the diversity and versatility of the market.
Poultry, Livestock, Fish, Others in the Global Insects as Animal Feed Market:
The Global Insects as Animal Feed Market finds application in various sectors, including poultry, livestock, fish, and others. In the poultry sector, insects are used as a protein-rich feed for chickens, turkeys, and other birds. This not only improves the nutritional quality of the poultry but also contributes to a more sustainable and eco-friendly farming practice. In the livestock sector, insects are used as feed for pigs, cows, and other animals, providing a cost-effective and sustainable alternative to traditional feed sources. The fish sector also utilizes insects as feed, particularly in aquaculture, where the demand for sustainable and high-quality feed is high. Other applications of insects as animal feed include pet food and zoo animal feed.
Global Insects as Animal Feed Market Outlook:
The market outlook for the Global Insects as Animal Feed Market is promising. The market was valued at US$ 463.6 million in 2023 and is expected to reach US$ 603.7 million by 2030, growing at a CAGR of 3.9% during the forecast period 2024-2030. This growth is driven by the increasing demand for sustainable and cost-effective animal feed alternatives. In the UK, spending on veterinary and pet services has risen significantly, from £2.6bn in 2015 to £4bn in 2021, a 54% increase in just six years. The global animal health industry is also expected to grow, with its value projected to increase by 12% to $38.3 billion in 2021, according to Vetnosis. In China, the pet medical market is valued at about ¥67.5 billion, accounting for about 22.5% of the entire pet industry. These trends indicate a growing interest and investment in animal health and nutrition, which bodes well for the Global Insects as Animal Feed Market.
| Report Metric | Details |
| Report Name | Insects as Animal Feed Market |
| Accounted market size in 2023 | US$ 463.6 million |
| Forecasted market size in 2030 | US$ 603.7 million |
| CAGR | 3.9% |
| Base Year | 2023 |
| Forecasted years | 2024 - 2030 |
| Segment by Type |
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| Segment by Application |
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| Production by Region |
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| Consumption by Region |
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| By Company | AgriProtein, Ynsect, Enterra Feed, Entofood, Entomo Farms, InnovaFeed, Enviroflight, Hexafly, HiProMine, Proti-Farm, MealFood Europe, Protix |
| Forecast units | USD million in value |
| Report coverage | Revenue and volume forecast, company share, competitive landscape, growth factors and trends |
