[ad_1]
The “Insect Feed Market – Growth, Trends, COVID-19 Impact, and Forecasts (2022 – 2027)” report has been added to ResearchAndMarkets.com’s offering.
The insect feed market is projected to register a CAGR of 11.7% during the forecast period (2022-2027).
The COVID-19 pandemic disrupted the working of several markets, including the insect feed market during the initial lockdown. The insect feed for aquaculture was negatively impacted mainly due to the decreasing international sea food trade, as restrictions on the fishing industry have minimized the yield and production. Adding to that, the global demand for seafood from restaurants and the hospitality industry has also dropped dramatically as lockdowns led to stay-at-home orders, closure of restaurants and other foodservice establishment. The insect feed sector, at present, has challenges, such as commercial-scale production, when compared to conventional animal feed products. However, factors such as the high feed conversion ratio of insects, low requirements for production area, and favorable government policies are driving the insect feed market. This is further anticipated to drive the market in the coming years.
Asia-Pacific dominated the global market, having the largest share, and Europe is projected to be the fastest-growing market in the years to come. In Asia-Pacific, the growing meat consumption compelled the demand for nutritious insect feed in recent years. Along with this, investments by the insect feed companies in the region have fueled the market growth. Similarly, in Europe, government initiatives, coupled with maintenance of vast poultry by the farmers, are projected to drive the revenue of the insect feed market during the forecast period.
By animal type, the aquaculture segment dominated the market among other animals in 2021. Increasing demand for farmed fish across the world has led to a rise in the prices of fishmeal and fish oil. Hence, insect feed serves as a viable protein-rich…
[ad_2]
