Market Size in 2021 | Market Forecast in 2028 | CAGR (in %) | Base Year |
---|---|---|---|
USD 924.50 Million | USD 1,587.28 Million | 11.20% | 2021 |
FrequentlyAsked Questions
The fact that quality protein being asked for poultry sector and aquaculture is driving the demand for edible insects for animal feed. Numerous animals, including birds, poultry, fish, and other species, naturally consume insects as part of their diet. The use of insect proteins in commercial feed is predicted to increase because these animals are natively adapted to eating insect feed.
The insect feed market was worth around USD 924.50 million in 2021 and is estimated to grow to about USD 1747.97 million by 2028, with a compound annual growth rate (CAGR) of approximately 11.20% over the forecast period.
Asia-Pacific region has dominated the industry during the forecasted period as there is a growing demand for protein rich animal feed in the region and it is supported by government approval on black soldier fly farming.
Key players functioning in the global insect feed market include Nextprotein, Buhler AG, Hexafly, Entofood, Diptera Nutrition, Enviroflight, Coppens, Agriprotein, Others.
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