This shift is owing to ability of insect-based protein products to offer more proteins than that of meat.
San Francisco, CA -- (SBWIRE) -- 04/30/2020 -- Increased demand for protein-rich products is projected to push the growth of the global insect protein market during forecast period. Protein is essential element of our diet. It helps body in building and repairing tissues. A wide range of population is inclined toward the consumption of protein-rich diet. Insect-based protein products are gaining more traction than that of meat proteins. This shift is owing to ability of insect-based protein products to offer more proteins than that of meat. As a result, there is swift growth in the demand for products from the global insect protein market.
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The present TMR Research report offers in-depth analysis of key elements supporting the growth of the global insect protein market for the forecast period of 2019 to 2027. It covers all the important data including key players, volumes, and revenues of the global insect protein market.
Diverse Strategies by Players Boosting Market Growth
One of the key reasons for the rapid expansion of the global insect protein market is very low investment. Owing to the need of very low initial investment to start the production of insect proteins, there is growth in the new market entrants. This scenario is helping the market fulfill the rising demand for products from this market. Some of the key market players are Aspire Food Group, Protifarm, Protix, Innovafeed, and EntomoFarms.
The competitive landscape of the global insect protein market is fairly fragmented owing to presence of many players in it. With growing demand for products, this market is witnessing the entry of many new players. This situation signifies growing competition scenario. Thus, to deal with this situation, many well-established players are using the strategies of acquiring their smaller competitors.
Growing Demand from Food and Beverages Sector Pushing Market Growth
In recent times, the global insect protein market is witnessing increased demand from food and beverages industries. This rising demand is owing to use of insect proteins in various food products such as protein bars. Besides, these proteins are increasingly used in animal nutrition, aqua feed, and as a pet food. This wide range of applications is expected to fuel the growth of the market.
The insect protein market is spread across many regions such as Europe, North America, Asia Pacific, the Middle East and Africa, and Latin America. Of them, North America is one of the prominent regions owing to increased demand for the insect proteins in it. Similarly, Europe is also projected to stimulate the growth of the insect protein market during forecast period. One of the key reasons supporting this projection is growing commercialization of insect proteins by the vendors engaged in the market.
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The global insect protein market is consistently showing growth owing to increased worldwide inclination toward consumption of organic food. As a result, there is tremendous growth in demand for organic products in animal food segment. The vendors engaged in this market are using the strategies of launching a wide range of products as per the requirement of end users. This shift has allowed consumers to select insect proteins in various forms such as dried insects, powder, oil, and whole insects. This move is driving the growth of the global insect protein market.
In recent times, the demand for insect proteins is consistently increasing from numerous poultry farms. The key reason behind this demand is the high nutritional value of products from the global insect protein market. As a result, the market is expected to show upward curve of growth in the upcoming period.
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