Europe Insect Protein Market

Europe Insect Protein Market Size

The size of the insect protein market in Europe is expected to be valued at USD 2574 million by 2032 from USD 133.1 million in 2024, registering a whopping CAGR of 44.8% from 2024 to 2032.

Insect protein is commonly sourced from insects such as crickets, mealworms and black soldier flies and offers a highly nutritious and environmentally friendly protein source. The consumption of insect-based products in the form of protein bars, snacks, powders, and food ingredients has increased significantly in the recent past, and this trend is expected to continue in the coming years. Consumers in Europe have been actively seeking healthier and more sustainable dietary options, which is resulting in the increased demand for insect protein products in Europe.

MARKET DRIVERS

The growing awareness of the nutritional value of insect protein, such as high protein content, essential amino acids, and vitamins among European consumers, is majorly propelling the European market growth. Insects have rich protein and also contain essential amino acids, vitamins and minerals. Consumers who are keen on health and wellness in Europe have been increasingly consuming insect protein products due to their potential health benefits and contribution to a balanced diet. For instance, the Food and Agriculture Organization (FAO) says that edible insects offer high protein content that ranges from 30% to 80% by dry weight or 10 to 25% by fresh weight. As per the research published by the Journal of Agricultural and Food Chemistry, insect species, such as crickets and mealworms, offer high sources of essential acids such as lysine and leucine.

The food security challenges across Europe are boosting the growth rate of the European insect protein market. Insect protein is a solution to address the challenges of food security as these are a reliable source of protein. Insect farming is gaining popularity as a promising solution to address the increasing demand for protein while reducing the impact on the environment and using fewer resources.

The rising awareness of the environmental impact of traditional protein sources among European consumers and increasing demand for protein-rich foods are favoring the European insect protein market. The benefits associated with insect farming, such as less land, less water, fewer greenhouse gases, and lower energy inputs compared to traditional animal agriculture, are promoting the growth of the European market. The evolving regulatory frameworks and approvals for insect-based foods, growing investments in insect farming technologies and infrastructure, and increasing campaigns and educational initiatives to fuel awareness regarding the nutritional benefits of insect protein among European consumers are aiding the regional market growth.

MARKET RESTRAINTS

On the downside, factors such as high costs associated with insect protein products, limited awareness among European consumers regarding the benefits of insect protein, lack of standardized production practices and infrastructure constraints are hindering the growth of the Europe insect protein market.

SEGMENTAL ANALYSIS

By Product Insights

The Coleoptera segment led the European market and accounted for 28.88% of the European market share in 2023. The domination of the Coleoptera segment is majorly driven by the growing investments by the key market participants in the R&D to enhance the taste and texture of Coleoptera-based products to address the needs of various consumers and the eco-friendly nature of Coleoptera farming methods.

The Hymenoptera segment is anticipated to register the highest CAGR during the forecast period in the European market due to the increasing demand for clean-label and sustainable food products.

By Application Insights

The F&B segment was the largest segment in the European market and held 64.9% of the European market share in 2023. The growing demand for sustainable food options and advancements in food processing technologies are primarily boosting the expansion of the F&B segment in the European market.

The personal care and cosmetics segments captured a considerable share of the European market in 2023 and are anticipated to grow at a healthy CAGR during the forecast period.

REGIONAL ANALYSIS

Geographically, Europe is predicted to hold a prominent share of the global market during the forecast period.

Among various countries in Europe, the Netherlands is expected to hold the leading share of the European market during the forecast period. The Netherlands is home to several insect protein companies and has a favorable regulatory environment. The growing emphasis on developing novel insect farming technologies and products by market participants, research institutions, and start-ups in the Netherlands is driving the Netherlands market growth.

Belgium is a key regional segment in the European market and is predicted to account for a substantial share of the European market during the forecast period. An increase in the number of insect farms and companies specializing in insect-based foods and ingredients and a growing number of insect farming initiatives by the Belgian government are supporting the insect protein market growth in Belgium.

France is a lucrative regional segment in the European insect protein market. The rising interest in sustainable and alternative protein sources among consumers in France and the French government's increasing investments in R&D projects are driving the French market.

On the other hand, Germany and the UK are projected to hold a considerable share of the European market during the forecast period.

KET MARKET PLAYERS

InnovaFeed (France), HEXAFLY (Ireland), Protix (Netherlands), Ynsect NL Nutrition & Health B.V. (Netherlands), Jimini’s (France), Swarm Nutrition GmbH (Germany), AgriProtein Holdings Ltd (England) and Next Protein Inc. (France) are some of the major companies in the Europe insect protein market.

MARKET SEGMENTATION

This research report on the European insect protein market has been segmented and sub-segmented based on the following categories.

By Product

• Coleoptera
• Lepidoptera
• Hymenoptera
• Orthoptera
• Hemiptera
• Diptera

By Application

• Food and Beverages
• Personal Care
• Cosmetics

By Country

• UK
• France
• Spain
• Germany
• Italy
• Russia
• Sweden
• Denmark
• Switzerland
• Netherlands
• Turkey
• Czech Republic
• Rest of Europe