food and beverages

Organic Infant Formula Market Size | Key Players Review, Global Overview and Forecast to 2023

Market Insight

Organic Infant Formula Market is an artificially synthesized substitute for mother’s milk which is used to feed babies under the age of 12 months. Organic Infant Formula is referred to as infant formula which is manufactured under the regulations fixed by the government for the product to be natural and organic. The ingredients used in organic infant formula are certified and free of chemicals which is a healthier choice for infants than the conventional infant formula. The rapid increase in the birth rate in developing regions and inclination towards the adoption of infant nutrition products with premium quality are some of the major factors that are generating the demand for organic infant formula in the global market. The increasing awareness regarding the ill-effects of chemically synthesized infant formula and the growing demand for organic food is fueling the expansion of the global infant formula market.

Key Players Strategy

The prominent players in the Global Infant Formula Market are focusing on strategic mergers and acquisitions to expand their businesses. The increasing investment in research and development for new product launch is triggering competition among the players of the global infant formula market. In May 2018, Frieslandcampina DOMO’s new human milk oligosaccharide (HMO) ingredient, 2’-fucosyllactose (2’-FL), has been officially certified to be used in infant formula to increase the nutritive value of the products in U.S. and European market.

The leading players of the Global Organic Infant Formula Market Size are ZUIVELCOÖPERATIE FRIESLANDCAMPINA U.A. (the Netherlands), HOLLE baby food GmbH (Switzerland), Bellamy’s Organic Pty Ltd. (Australia), Hain Celestial Group, Inc. (U.S.), Abbott Nutrition Manufacturing Inc. (U.S.), BEINGMATE Baby & Child Food Co., Ltd. (China) and HIPP GmbH & Co. VERTRIEB KG (Germany)

Market Segmentation

The global Organic Infant Formula Market is segmented based on type, formulation and distribution channel. Based on type, the infant formula market is segmented into starting milk formula, follow-on milk formula, special milk formula and others. Among these types, the starting milk formula segment accounts for the largest market share and during the forecast period, it is anticipated to expand at 14.74% CAGR.

Based on formulation, the market is segmented into powdered formula, concentrated liquid formula, ready-to-feed formula, and others. Among these formulations, the powdered formula segment is anticipated to witness the highest growth at a CAGR of 13.94% during the forecast period of 2017-2023.

Based on distribution channel, the global infant formula market is segmented into store-based and non-store-based distribution channel. Among these, the store-based segment is anticipated to project the highest growth at a CAGR of 114.169% during the forecast period.

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Regional Analysis

Global Organic Infant Formula Market is regionally distributed in Europe, North America, Asia-Pacific and the rest of the world. Asia-Pacific region is anticipated to create its dominance over the global infant formula market during the forecast period due to the rapid rise in population, healthy economic growth, and increasing health awareness in this region. The infant formula market in the developed regions of North America and Europe is driven by the rise in demand for organic food and increasing awareness regarding the hazards of chemically synthesized infant formula. Latin America and the Middle East and Africa are anticipated to project significant growth in the infant formula market during the forecast period.

Non-Alcoholic Beverages Market Size, Business Opportunity, Global Analysis and Forecast to 2024

Market Overview

Global Non-Alcoholic Beverages Market is projected to grow with a significant growth rate of 4.61% from 2019 to 2024 and reach a market value of USD 1073.9 billion by the end of 2024. Alcohol free beverages are beverage from which alcoholic content is removed and non-dairy is a part of food & beverages, which are dairy-free or do not contain lactose for the section of population who are lactose-intolerant and vegan. With the growing consumer awareness & their increasing interest in healthy lifestyle, healthy & organic non-alcoholic beverages market is anticipated to grow at higher CAGR during the forecast period. However, consumers are now aware of various certifications, and labels, hence organic & clean label certification will drive the market.

Globally, the market for Non-Alcoholic Beverages Market Size has been increasing due to urbanization and changing consumption patterns and rising number of pubs & bars. Increasing demand for RTD, herbal tea, fruit tea, and changing consumption pattern of consumers towards healthy diet are the key drivers for this market. Trending healthy diets & lifestyle will support the growth of herbal & fruit tea market during the forecast period 2017 to 2024.

Major Key Players

This report includes a study of strategies such as mergers and acquisitions, product launches by the major soup market players. It further includes product portfolios, developments of leading major players which includes

The key players profiled in the Non-Alcoholic Beverages Market are as Nestlé (Switzerland), PepsiCo (U.S.), Fuze Beverage (U.S.), Coca-Cola (U.S.), Kraft Foods (U.S.), Campbell Soup Company (U.S.), Ocean Spray (U.S.), Ocean Spray (U.S.)

Global Non-Alcoholic Beverages Market is highly concentrated in North America. Key manufacturers are focusing on expanding their product line by providing larger product line with various flavors, texture, shape and sizes.

Key Findings

Changing consumption pattern & urbanization has spurred the growth of non-alcoholic beverages market. The market growth in Europe region is high compare to North America

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Segments

On the basis of packaging, market is segmented into Bottle, Tetra Pack, Sachet, Tin Can, and others. Bottle dominates the market, however tetra pack will be highest growing segments due to growing awareness about various health benefits of coconut milk.

Non-Alcoholic Beverages market has been segmented on the basis of type, and is segmented into Probiotic Drinks, Alcohol-Free Drinks, Energy Drinks, RTD, Juice, Herbal & Fruit Teas, Fortified water, Dairy & Non- Dairy Beverages and others. Juice dominates the market, but however due to rising health awareness, probiotic drinks is projected to grow at a highest CAGR.

On the basis of distribution channel, market is segmented into store based and non-store based.

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Non-Alcoholic Beer Market Size, Global Demand, Key Players and Forecast to 2024

Market Overview

Non-Alcoholic Beer Market is expected to grow at the CAGR of 8.28%. Non-Alcoholic Beer market has witnessed substantial innovation in terms of new product launches along with research & development and collaboration. Also, the overall disposable income of the consumer is increasing over the past few years which in turn leads to surge in sales of non-alcoholic beer during the forecast period.

Non-alcoholic beer refers to low-alcohol content beverage prepared by the fermentation of major ingredients such as malt, hop, water and sometimes yeast (to accelerate the process). The production of non-alcoholic beer is carried out under the controlled process of malting with a set temperature and pH. Removal of alcohol is performed by various techniques such as vacuum distillation, reverse osmosis, or by restricting the ability of the yeast to ferment wort. Every brewery has its own methods and trade secrets on manufacturing non-alcoholic beer.

Major Key Players

This report includes a study of strategies used in the market, mergers and acquisitions in non-alcoholic beer, multiple product launch by non-alcoholic beer market players. It further includes product portfolios and developments of leading major players which includes

The leading market players in the Global Non-Alcoholic Beer Market Size primarily are Erdinger Weibbrau (Germany), Anheuser-Busch InBev SA (Belgium), Heineken N.V. (Netherland), Big Drop Brewing Co. (U.K.), Krombacher Brauerei (Germany), Bernard Brewery (Czech Republic), Suntory Beer (Japan)

The market players have increased their level of investment in research to identify right formulation and to improve product functionality in order to capture lion’s share and create brand recognition in non-alcoholic beer market. Manufacturers indulge in maintaining transparency and allow food traceability in order to manage and mitigate risk and lowering the impact of recalls and lowering liability costs. The global non-alcoholic beer market is segmented on the basis type, raw material, process and regions of non-alcoholic beer.

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Industry Segment

The global non-alcoholic beer market is segmented into North America, Europe, Asia Pacific and Rest of the world. Among these, North America is projected to retain its dominance throughout the forecast period. North America is estimated to reach to USD 2.07 Billion by the end of 2024. The region is projected to grow at a substantial growth of 7.40% during the review period of 2017-2024. However, RoW region is also estimated to grow at a high pace as compare to the other region owing to the increasing acceptance of non-alcoholic beer instead of the other alcoholic beverages.

Key Findings

Middle East countries find a massive opportunity in the non-alcoholic beer market owing to the rising Muslim population in that particular countries. North America is estimated to retain its dominance throughout the forecast period and to grow at a substantial CAGR of 7.40%. Among the North American country, Mexico is projected to witness a substantial growth of 8.45% during the forecast period of 2017-2024.

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Herbicides Market Size | Growth, Industry Demand and Forecast to 2024

Market Overview

Herbicides Market is expected to exhibit a strong 6% CAGR over the forecast period from 2019 to 2024, according to the latest research report from Market Research Future (MRFR). The global herbicides market is a major part of the agriculture sector and is likely to play a key role in the development of the agriculture sector in the coming years. Developments in the herbicides sector are likely to have a long-lasting impact on the agriculture sector, making the herbicides sector crucial. According to MRFR, the global herbicide market is expected to reach a revenue valuation of USD 43 billion by 2024.

Growing demand for food across the world has been the primary driver for the agriculture sector in recent years. As the population has grown around the world, it has resulted in a growing demand from the agriculture sector. As more people have become urbanized, they have come under the coverage provided by government systems designed to distribute agricultural products, leading to more demand from the agriculture sector. The growing infant population around the world is likely to ensure a steady growth in demand from the agriculture sector in the coming years. This is likely to reflect well on the global herbicides market in the coming years. The global herbicide market is highly dependent on the agriculture sector and is likely to be closely associated with the growth prospects of the agriculture sector in the coming years.

Competitive Analysis

Leading players in the Global Herbicide Market Size include Kenvos Bio, ADAMA Ltd., Drexel Chemical Company, Nissan Chemical Industries Ltd., Nufarm Limited, Element Solutions Inc., Syngenta AG, PI Industries, Agrium Inc., Bayer AG, FMC Corporation, Monsanto Company, The Dow Chemical Company and BASF SE.

In September 2019, Germany announced plans to phase out the use of glyphosate in herbicides starting from 2020. The country intends to be completely free from glyphosate herbicides by 2024. The strong presence of the herbicide market in Germany and Europe could result in many companies having to undertake significant product innovation in order to fit the regulations. Companies such as Bayer could also challenge these measures in court, leading to long legal cases.

Segmentation

The global herbicide market is segmented on the basis of active ingredient, category, mode of action, crop type, and region.

By active ingredient, the global herbicide market is segmented into glyphosate, 2,4-D, atrazine, diquat, and others.

By category, the global herbicide market is segmented into synthetic and bioherbicides.

By mode of action, the global herbicides market is segmented into selective and non-selective.

By crop type, the global herbicide market is segmented into pulses and oilseeds, cereals and grains, fruits and vegetables, and others.

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Regional Analysis

Asia Pacific is likely to dominate the global herbicide market in the coming years due to the growing industrialization and mechanization being brought about in the agriculture sector in the region. The growing demand for food in Asia Pacific has put a strain on traditional agricultural centers such as Punjab in India and Pakistan, Bangladesh, and China. This has resulted in an increasing demand for herbicides.

North America and Europe are also major markets in the global herbicide market.

South America is expected to exhibit the fastest growth in the herbicide market over the forecast period due to the growing agriculture sector in South America and the resultant increase in the use of herbicides in the region.

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Edible Mushroom Market Size, Business Prospects, Key Findings, Gross Margin and Forecast to 2024

Market Overview

Edible mushrooms are fleshy, edible fruits of many species of macrofungi consumed for their nutritional and medicinal value. Growing cultivation on account of growing awareness of the nutritional value of mushrooms is the prime driver of the market. Mushrooms are a rich source of riboflavin, niacin, and pantothenic acid, and are low calorie foods thus making them ideal for lowering cholesterol. Mushrooms have negligible saturated fat, sodium and gluten content while they are high in fiber making them popular among the health-conscious consumers. Certain species of mushrooms such as prized truffle, matsutake and morel fetch a very hgigh price making them commercially attractive. Mushrooms also are traditionally prized for their medicinal properties and are known to lower the risk of cardiovascular diseases and improve the body’s metabolism.

The advancements in processing and packaging coupled with development of refrigerated supply chain have rendered their transport efficient. Attractive economics of cultivation and processing such as low land needs, vertical farming, and development of irradiation facilities are expected to further improve the market demand.

Top Key Players Analysis

Some of the leading players profiled in the Global Edible Mushroom Market Size are Monaghan Mushrooms (Ireland), Monterey Mushrooms, Inc. (U.S.), The Mushroom Company (U.S.), Okechamp S.A. (the Netherlands), Lutèce Holding B.V. (the Netherlands), Bonduelle Group (France), and Shanghai Finc Bio-Tech Inc. (China) and others.

Industry Segments

To separate the grains from the husk the Global Edible Mushroom Market has been segmented on the basis of type, category, distribution channel, and regions.

Based on type, the market has been segmented by button mushroom, shiitake mushroom, oyster mushroom, others. Button mushroom accounts for the largest market share.

Based on category, the market has been segmented by fresh mushrooms, processed mushrooms (canned, frozen, dried, others). Fresh mushrooms accounts for the largest market share owing to lack of processing facilities and local nature of trade.

Based on distribution channel, the market has been segmented by store based (supermarkets/hypermarkets, specialty retailers, convenience stores, others), and non-store based (e-commerce). Sale through store-based channels accounts for the largest share owing to convenience shopping.

Based on regions, the market has been segmented by North America, Europe, Asia Pacific, Middle East and Africa, rest of the World.

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Regional Analysis

Asia Pacific region accounts for the largest share of the global edible mushroom market led by China, Japan, South Korea and India. China is the leading producer and the largest market of mushrooms accounting for 65 % of the global production.

Europe accounts for the second largest market with Italy, Netherlands, Poland, Spain, France, and United Kingdom accounting for more than 75 % of the European market.

North America accounts for the third largest share of the market with the U.S. In the leading position.

The Middle East and Africa market is domi9nated by the gulf economies led by Saudi Arabia, UAE and Qatar.

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Vitamin Supplements Market Size, Industry Share, Demand, Global Analysis by 2024

Market Overview

Vitamins are organic nutrient essential in miniscule amounts, which cannot be synthesized by the body and which need to be supplied by external sources such as diet. The market for global vitamin supplements is expected to surge at a CAGR of 14.0% during the forecast period ending 2024.

Growing awareness of benefits of vitamins, increasing urbanization, growing influence of media, changing lifestyles, poor dietary intake due to sedentary lives and consumption of junk foods, rising incomes, growing adoption of vitamins in animal feeds, growing prevalence of immune-compromised patients and disease such as rheumatic disorders, cardiology, and allergy are the drivers of the market. However the growing ageing population especially the baby boomers will shift the healthcare market towards supplements. The effect is reflected by the estimates by the Council for Responsible Nutrition which states that 68% of Americans consume dietary supplements in 2015. Moreover older people account for 35 percent of U.S. health supplements market.

Major Players:

Prominent players of the Vitamin Supplements Market Size include Glanbia plc. (US), Reckitt Benckiser Group plc. (UK), NBTY, Inc. (US), Pharmavite LLC., and Nutramark, LLC, Country Life LLC., Rainbow Light Nutritional System, Inc., Reckitt Archer Daniels Midland Company, BASF, Unilever, and DuPont and others.

Industry Segmentation:

To generate an accurate assessment of the market the global vitamin supplements market is divided by type, application, end users and others.

Based on type, the market has been segmented by Vitamin D, Vitamin C, Vitamin A, Vitamin B, vitamin E, others

Based on application, the market has been segmented by healthcare, personal care, food & beverages, others

Based on channels, the market has been segmented by retail, whole sale, ecommerce and others

Based on regions, the market has been segmented by North America, Europe, Asia Pacific, Middle East and Africa.

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Regional Analysis

North America and Europe accounted for the largest market share of greater than 30 % in 2016. The factors driving the dominance of North America and Europe are large economy, large per capita income, and presence of large market players. Germany, Sweden, France and the U.K. dominate the European region.

Asia Pacific is projected to be the fastest growing market led by Japan, South Korea, China and India owing to availability of feed stock due to their diverse agriculture and labor attractiveness. Asia-Pacific accounts for 31.4 % of the global vitamin supplements market.

The Middle East and Africa region is anticipated to generate a moderate growth skewed in favor of the Gulf economies of Saudi Arabia, Kuwait and UAE.

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Ready to Eat Meals Market Size, Value Share, Statistics, Emerging Trends and Forecast to 2024

Market Overview

Global Ready to Eat Meals Market have emerged as the next big trend in the food and beverage sector. The market has developed rapidly due to the prevalence of a fast paced lifestyle, especially in urban areas. Market Research Future, which focusses on market reports associated to Food, Beverages & Nutrition sector among others, have lately made available a report on this industry. Global Ready to Eat Meals Market expected to grow at a CAGR rate of 6% approx. from the year 2016 to 2024.

Amplified development in terms of food preparation and processing have been a positive stimulant to the expansion of the market. Heightened preference of working professionals for easy to make meal options has fuelled the evolution of the market at a swift pace. Health based meals have also been of the quickly growing areas of the market as individuals are on the lookout for meals that are precooked.

Leading Players

With the entrance of new companies, existing companies are trying to achieve an extensive share of the industry share urgently with operative business plans that can fill the void and settle the dynamics of the rivalry in the market. The segment players are trying to attain a huge share in the market segment, which is quickly – evolving. Solid growth trends have also been perceived for the industry with the development of diverse assortments of products. The best growth opportunities for the long term in this sector can be captured by warranting ongoing process improvements and financial elasticity to capitalize on optimal strategies.

The important players profiled in the Ready to Eat Meals Market Size are Bakkavor Group Ltd (U.K.), Premier Foods Group Ltd (U.K.), General Mills (U.S.), (British Virgin Islands), Nomad Foods Ltd and McCain Foods (Canada) to name a few.

Regional Analysis

The industry for global Ready to Eat Meals is divided into Europe, North America, Asia Pacific, and Rest of the World (RoW). Among the different regions, the North American region has the main market share trailed by Europe and Asia Pacific. Rising population and increase in disposable income in Asia Pacific region is boosting the demand for ready to eat meals in this particular region.

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Industry Segments

The market for ready to eat meals has been divided on product types into bakery, ready meals and mixes, non-alcoholic beverages, herbs and spices, soups, noodles and pasta among others. The packaging segment of the industry includes of box, can, vacuum pack sachet, bag and others. The cuisine type divides the market into Italian, Indian, Continental, Chinese and others. The specialty type segment of the market is categorized into preservative free, vegetarian, natural, non-vegetarian and others. The form segment divides the market into frozen, dried, cooked, instant, fresh and others.

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Savory Snacks Market Size, Impressive Growth, Value Share and Global Demand by 2024

Market Analysis

Global Savory Snacks Market is growing at an incremental pace globally. Growing consumer pro-activeness towards health problems has boosted the demand for savory snacks as they comprise essential ingredients and possess familiar taste. Changing approaches of the customers towards snacks and healthy food has heavily influenced the global savory snacks market. Increasing consumers’ inclination towards healthy snacks has led the global savory snacks witness a strong growth over the past few years. Teenagers are identified to consume savory snacks more between the meals while others tend to consume the product more as a treat. Growing health consciousness has enforced manufacturers and producers to deliver to this demand, by offering various low calorie, low fat, and gluten-free products. Availability of a huge number of existing flavors along with increasing research and development by key market players to innovate new flavors is further projected to drive the market over the forecast period.

Competitive Analysis

Entry of new players in the with their unique product-line has created competitive environment on the global platform. Continuous innovation and new product launches are the major strategies followed by the established players in order to sustain their consumer base and capture the attention of mass consumers towards their offerings. Each player is coming up with new ideas to surge their market share against others. With companies aiming to capture a significant share of the market as early as possible, they are also undergoing strategic business moves to expand their production along with geographical presence. Technological advancements and innovative product offering are the long-term growth opportunity for this sector.

The key players profiled in Global Savory Snacks Market Size report is PepsiCo (U.S.), Kraft Foods Group, Inc (U.S.), ConAgra Foods, Inc (U.S.), CALBEE, Inc (Japan), Diamond Foods, Inc (U.S.), General Mills, Inc (U.S.), Intersnack Group GmbH & Co. KG (Germany), Lorenz Bahlsen Snack-World Group (Germany), Kellogg Company (U.S.), and Orkla ASA (Norway) among many others.

Market Segments

The global savory snacks market has been divided into type, distribution channel, and region.

On The Basis Of Type: Potato Chips, Processed Snacks, Popcorn, Nuts, and Others

On The Basis Of Distribution Channel: Store Based, and Non-Store Based

On The Basis Of Region: North America, Europe, Asia Pacific, and ROW.

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Regional Analysis

Global Savory Snacks Market is segmented into North America, Europe, APAC, and Rest of the World (RoW). Global savory snacks market is highly dominated by Asia Pacific and North America in terms of revenue. Japan and China together accounted the major share in Asia Pacific. The consumers in developed countries of North America have started adopting healthier lifestyles because of rising concerns about obesity. Savory snacks account high demand in Europe as these products are consumed at various occasions by the population in this region. The market is driven by countries such as the UK and Spain in Europe as the consumers tend to highly consume “on-the-go” snacks such as instant energy booster in place of whole meals. The demand for savory snacks is also rising rapidly in countries such as Netherlands, Norway, and Germany. However, India, China and Mexico are expected to be the most lucrative market during the forecast period.

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Organic Sugar Market Size, Key Players, Business Demand and Industry Demand by 2024

Market Insight

Global Organic Sugar Market has witnessed continued demand during the last few years and is projected to reach USD 1314.53 million at a CAGR of 15.55% by 2024. Diverse application for organic sugar in various industries, majorly in the prepared food & beverages production is likely to drive the global organic sugar market over the forecast period.

Sugarcane crop is increasingly sprayed with harmful pesticides and chemicals during growing stage to protect crops from various pests and weeds. These pesticides can cause severe health issues among consumers. However, organic farming of sugarcane eliminates the risk of harmful pesticides. Hence, lack in use of pesticides is another key factor spiking the demand for organic sugar. Organic sugar retains various nutrients which otherwise are lost during over-processing of conventional sugar. The organic unrefined sugar contains 17 amino acids, 11 minerals (such as sodium, magnesium, and calcium) and many different vitamins. It retains its fructose and glucose along with sucrose, while the processed sugar only contains sucrose and glucose. Therefore, this factor is playing a key role to drive sales of organic sugar.

Major Key Players

The key players profiled in Organic Sugar Market Size are DWARIKESH Sugar Industries Limited (India), RAIZEN S.A (Brazil), MITR PHOL Group (Thailand), WANGKANAI Group (Thailand), Shree Renuka Sugars Limited (India), TEREOS INTERNACIONAL (Brazil), COSAN Ltd. (Brazil) and Bunge Limited (Brazil)

Key manufacturers are focusing to enhance its brand name by arranging various promotional activities. The company has participated in various social media promotions, events and interaction with the consumers. The manufacturers have demonstrated their new product offerings in order to attract the new customers. By this strategy the product of the company will be popular among the consumers which will aid to increase the overall profitability of the company. Moreover, the key players are emphasizing in the research & development process in order to introduce new product also to extend the product line. Key players are introducing various new products to increase the volume sales and also to increase the overall revenue of the company.

Global Market Segments

The global organic sugar market has been divided into Application, and region. On the Basis of Application: Food & Beverages, Pharma and personal care, others. On the Basis of Region: Latin America, Asia Pacific, and Rest of the World

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Regional Analysis

The Global Organic Sugar Market is segmented into Latin America, APAC and Rest of the World (RoW). Latin America is estimated to retain its dominance throughout the forecast period of 2017-2024. Among the Latin American countries, Brazil is accounting for major market share due to the high production of organic sugar. Paraguay is also holding 30% of the market proportion in the Latin America organic sugar market. Also, Paraguay exports the maximum production to USA. Asia Pacific region is also accounting for significant market share in the global organic sugar market in the year of 2017 and it is expected to witness massive growth during the forecast period. Among the Asia Pacific, Thailand is one of the attractive destination among the organic sugar manufacturers. Apart from that, Colombia, and Ecuador collectively account for 80% of the market share in the Rest of the World.

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Insect Protein Market Size | Value Demand, Key Players and Forecast to 2023

Market Insight

Global Insect Protein Market is Estimated to be Valued at USD 178,340.4 Thousand by 2023 and Expected to Grow at a CAGR of 23.00% During the Forecast Period. The increasing demand for food products with high protein content has resulted in increased demand for the various protein-rich foods and products. Insects are a rich source of protein and are considered more healthy than other animal-based products. Insect proteins have found its application in food & beverages, pharmaceuticals, nutraceuticals, cosmetics, and others.

Key Players

Some of the players operating in the Global Insect Protein Market are Chapul LLC (US), EnviroFlight LCC (US), Entomo Farms (Canada) and Cricket Flours LLC (US)

Segment Analysis

Global Insect Protein Market Size has been segmented based on insect type, application, and region. Based on insect type, the market has been divided into crickets, mealworms, grasshoppers, ants, bees, termites, black soldier fly, silkworm, houseflies, cicadas, and others. The cricket’s protein segment is expected to be larger during the forecast period. Crickets are rich in protein content, thus making it the most popular source of protein. Along with proteins, crickets are also a good source of chitin and other fibers that may influence gut health. However, the demand for mealworms protein is growing as they can be reared in both the temperate and tropical regions. The mealworms protein segment is growing at a higher CAGR of 24.00% during the forecast period.

Based on application, the global insect protein market is segmented into human nutrition and animal nutrition. The human nutrition segment is further divided into food & beverages, pharmaceuticals, nutraceuticals, cosmetics, and others. Among both, the human nutrition segment is dominating the global insect protein market. The food & beverages segment under the human nutrition segment account for the largest market share owing to demand high protein foods and increasing health consciousness has resulted in increased demand for the insect protein. The protein has found its application in convenience foods such as snacks, bars, and an ingredient in various cuisines.

Regional Analysis

Geographically, the global insect protein market has been segmented by region, into North America, Europe, Asia-Pacific, and Rest of the World. As per MRFR analysis, Europe dominated the market, and accounted for the largest share of the market in 2016 and expected to grow at a CAGR of 21.10%. Europe market is followed by North America, which is accounted for the second largest number of shares in the global insect protein market, as of 2016. North America market is estimated to reach USD 73,297.9 thousand by the end of 2023. Asia-Pacific is a substantial region in the market, which accounts for 13.43% share of the market as of 2016. Country wise, Germany is the leading market, in terms of value, followed by the US.

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