No Longer Crawling: Insect Protein to Come of Age in the 2020s
The demand for insect protein, mainly as an animal feed and pet food ingredient, could reach half a million metric tons by 2030, up from today’s market of approximately 10,000 metric tons.
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While the sustainability aspects and functional benefits support demand growth, high costs and prices, the current limited production capacity, and legislation are the main factors limiting growth of insect protein. “Reflecting these opportunities and constraints, we believe the strongest future demand for insect protein lies in the aquafeed market,” according to Beyhan de Jong, Senior Analyst – Animal Protein.
Beyond inclusion in aquafeed formulas, there is great potential to develop specialized ingredients and products, likely even beyond feed and human food ingredients. This is potentially the most profitable part of this new industry. Considerable R&D will be needed to achieve all of this.