The powder obtained after various levels of drying and processing of edible insects rich in protein content is referred to as edible insect protein powder. Generally, the category of edible insects considered are rich in bioavailable minerals and can offer rich nutrition to human diet in the form of edible insect protein powder. Insects are considered as best sources of protein as compared to other regular protein sources consumed by the humans. The nutrition offered by the insects include monounsaturated (MUFA) and polyunsaturated fatty acids (PUFA), vitamins and minerals including as zinc, iron, magnesium, copper, biotin, selenium, and pantothenic acid. The cost benefits are also high for the manufacturers as most of the feedstock used in the edible insects protein powder is entirely used and has maximum utilization and consumption.
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Insect protein powders are the emerging product segments whose penetration varies from country to country. The global market size of edible insects is estimated to be more than US$ 25 Bn and is projected to grow at massive rates. Most of the insect’s body is composed of protein which is ideal for protein alternatives. A rise in weather uncertainties, hike in labor wages, overall has resulted in a rise in plant proteins supply which has offered opportunities for alternative protein including Insect Protein Powders market to grow.
Insect Protein Powders are mainly used in Protein bars and protein-based snacks in the B2C segment, while it is used as a food additive. There have been continued product launches backed by rising demand for protein foods. A UK startup namely Mophagy launched their cricket powder. NutriBug also launched its product cricket protein powder. Asia will rule the Insect Protein Powders market in the long-run due to higher availability of various insects due to the presence of varied climate zones. In the year 2017, Dane Creek Capital increased its stake in Midgard Insect Farm from 48% to 65%. Midgard is an insect producer focused on dog and cat food products. The report encompasses in a deep-dive analysis of the segments and sub-segments of Insect Protein Powders.
Some of the key players operating in the global Insect Protein Powders market are Entomo Farms, Exoprotein, Nutribug, Protix, Proti-Farm, Coast Protein, Aketta, C-fu Foods and others.
According to a research study, insect consumption is spread widely across various parts of the world. However, the consumption of species varies from country to country based on regional preferences. Currently, there are more than 2,000 species have been reported to be edible, and there is potential for 1 million plus species will be categorized as edible in the future. (Source: UN FAO, Edible insects: Prospects for food and feed security, 2013). Advancements in insects rearing to processing technology will augment Insect Protein Powders market in the long-term. Additionally, improvements in product formats, packaging and knowledge awareness across various media platforms will support the Insect Protein Powders market growth.