The Latin America, Middle East and Africa Insect Protein Market would witness market growth of 26.9% CAGR during the forecast period (2021-2027).
Animal-based meals have long been considered nutritional staples because they contain many necessary elements; yet, due to their nutrient richness, edible insects have the capability to act as healthy, sustainable alternatives. Due to their high quantities of vitamin B12, iron, zinc, fiber, vital amino acids, omega-3 and omega-6 fatty acids, and antioxidants, edible insects may provide exceptional health advantages. Edible insects like crickets could provide a variety of environmental and nutritional benefits, including a reduction in overall greenhouse gas emissions, reduced agricultural use of land and water, better prevention and management of chronic diseases like diabetes, cancer, and cardiovascular disease, and improved immune function.
Insects have the potential to be employed as meat substitutes or dietary supplements in the future, benefiting both human health and the environment. The regional manufacturers are working on new ways to use insect protein to benefit starving people. Researchers are developing food items based on insect protein powder to compensate for the lack of nutritional resources in MEA countries like Kenya.
The demand for Insect protein is being driven by changing agricultural practises, increased population and affluence, and a growing market requirement for nutritious animal food. As a source of insect feed, larvae and worms are used. Demand for both categories is expected to rise in response to increased demand for animal food. Because of high feed protein conversion, low GHG emissions, and acceptable feed quality, the insect protein industry would grow more in the upcoming years.
The Brazil market dominated the LAMEA Insect Protein Market by Country in 2020, and would continue to be a dominant market till 2027; thereby, achieving a market value of $16.9 million by 2027, growing at a CAGR of 25.6 % during the forecast period. The Argentina market is expected to witness a CAGR of 27.6% during (2021 - 2027). Additionally, The UAE market is expected to witness a CAGR of 26.5% during (2021 - 2027).
Based on Source, the market is segmented into Coleoptera, Hemiptera, Hymenoptera, Lepidoptera, Orthoptera, Diptera, and Others. Based on Application, the market is segmented into Animal Nutrition, Food & Beverages, Pharmaceutical & Supplements, and Personal Care & Cosmetics. Based on countries, the market is segmented into Brazil, Argentina, UAE, Saudi Arabia, South Africa, Nigeria, and Rest of LAMEA.
Free Valuable Insights: The Global Insect Protein Market is Predict to reach $943.3 Million by 2027, at a CAGR of 23.8%
The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include InnovaFeed, Darling Ingredients, Inc., SAS Ynsect, Protix BV, NTG Holdings Pte. Ltd., Goterra, Entomo Farms, Chapul, Aspire Food Group, and Hexafly.
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