Meticulous Research®—a leading global market research company, published a research report titled, ‘Insect Protein Processing Equipment Market by Type (Dryers, Grinders, Centrifuges), Processing Method (Dry, Wet), Mode of Operation, Production Capacity (Small & Medium Scale, Large Scale), Application (Black Soldier Fly, Cricket) - Forecasts to 2029.’
According to this latest publication from Meticulous Research®, the insect protein processing equipment market is projected to reach $210.6 million by 2029, at a CAGR of 9.7% from 2022–2029. The growth of this market is attributed to the innovations in insect protein processing equipment, the increasing focus of insect protein manufacturers to reduce production costs, increased investments in the insect-based protein industry, and the rising demand for insect protein in the animal feed industry. However, high equipment costs and the risk of allergies due to insect consumption are expected to hinder the growth of this market to a notable extent.
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The insect protein processing equipment market is segmented by type (dryers, grinders, screw presses, separators, filtration systems, evaporators, centrifuges, other equipment), processing method (dry processing and wet processing), mode of operation (semi-automatic and automatic), production capacity (small & medium scale and large scale), application (black soldier fly, cricket, mealworms, other insects), and geography. The study also evaluates industry competitors and analyzes the regional and country-level markets.
Based on type, in 2022, the dryers segment is expected to account for the largest share of the insect protein processing equipment market. The large market share of this segment is attributed to its ability to improve process hygiene. Additionally, the growing necessity for customization and replacement of traditional drying techniques is expected to support the demand of this segment.
Based on processing method, in 2022, the dry processing segment is expected to account for the largest share of the insect protein processing equipment market. The large market share of this segment is attributed to its capacity to obtain high yields, influence product quality, and reduce operational costs.
Based on mode of operation, the automatic segment is projected to register the highest CAGR during the forecast period. The fast growth of this segment is attributed to the advantages of automated insect protein processing equipment, such as higher production volumes, improved precision and accuracy, and reduced labor costs.
Based on production capacity, in 2022, the small & medium scale segment is expected to account for the largest share of the insect protein processing equipment market. The large market share of this segment is attributed to the rising government support for the development of small-scale processing enterprises, low financial needs, and increased productivity.
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Based on application, in 2022, the cricket segment is expected to account for the largest share of the insect protein processing equipment market. The large market share of this segment is attributed to factors such as the higher incorporation of crickets in various recipes and products, high nutritional value and easy farming & processing of crickets, and the rising demand for cricket-based food products such as protein powders, protein bars, and snacks.
Based on geography, in 2022, Asia-Pacific is expected to account for the largest share of the insect protein processing equipment market. The growth of this regional market is attributed to a well-established commercial farming market for edible insects, especially in Thailand, the presence of insect diversity & huge production, positive attitude towards the insect as food & feed, absence of regulatory barriers to insect processing, and the presence of key market players in the region. However, North America is slated to register the fastest growth rate during the forecast period.
Key Players
The insect protein processing equipment market is characterized by a moderately competitive scenario due to many large and small-sized global, regional, and local players. The key players operating in key players operating in the global insect protein processing equipment market are Alfa Laval AB (Sweden), The Bühler Holding AG (Switzerland), GEA Group Aktiengesellschaft (Germany), Hosokawa Micron B.V. (Netherlands), ANDRITZ Group (Austria), Russell Finex Ltd. (U.K.), Maschinenfabrik Reinartz GmbH & Co. KG (Germany), and The Dupps Company (U.S.).
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Key Questions Answered in the Report-
• What is the current value of revenue generated by the insect protein processing equipment market?
• At what rate is the demand for insect protein processing equipment projected to grow in the next 5–7 years?
• What is the historical market size and growth rate for the insect protein processing equipment market?
• What are the major factors impacting the growth of this market at the global and regional levels? What are the major opportunities for existing players and new entrants in the market?
• What are the impacts of the COVID-19 pandemic on the insect protein processing equipment market?
• Which segments in terms of type, processing method, mode of operation, production capacity, and application create major traction for the manufacturers in this market?
• What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the insect protein processing equipment market?
• Who are the major players in the insect protein processing equipment market? What are their specific product offerings in this market?
• What are the recent strategic developments in the insect protein processing equipment market? What are the impacts of these strategic developments on the market?
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