According to the report, the global cricket protein powders market was valued at US$ 10.3 Mn in the year 2018 and is likely to grow more than US$ 30.5 Mn by the end of 2025. The market is likely to expand with a robust CAGR of 16.78% during the projected period.
Global Cricket Protein Powders Market: Drivers and Restraints
Manufacturers are using the nutrient punch and protein as their key marketing strategies for promoting cricket protein powder as a healthier and a sustainable means of protein than beef. The cricket protein powder is a good source of calcium and iron. Iron-rich food promotes brain function, provide energy, and boost muscle function. Calcium-rich food helps to support weight management, reduce blood pressure, and promote bone health and is likely to reduce the risk of rectal and colon cancers. All these factors are expected to fuel the growth of the global cricket protein powders market throughout the anticipated period.
However, cricket protein powders can cause side effects such as irritation and this factor is likely to hamper the growth of the market throughout the predicted period.
Global Cricket Protein Powders Market: Forecast by Application
Application segment is segmented into Dietary Supplement, Food Additive, and Pet Food. Food Additive segment is further segmented into dairy products, confectionery, and drinks. In the year 2018, Food Additive Segment accounted for a consumption share of 54.52%. The Pet Food segment is likely to grow with an exponential CAGR of 18.81% between 2018 and 2025.
Global Cricket Protein Powders Market: Forecast by Form
Form segment is segmented into Feed Grade and Food Grade. In terms of volume, Food Grade segment is expected to remain dominant in the global Cricket Protein Powders market. Food Grade segment is expected to create an absolute $ opportunity of US$ 14.07 Mn by the end of 2025.
Global Cricket Protein Powders Market: Forecast by Region
North America, Europe, Asia-Pacific, South America, and Middle East & Africa are the five regions that are included in this report. North America is the dominant region in the global cricket protein powders market in terms of value. North America was valued at US$ 4.59 Mn in the year 2018 and is expected to expand at a healthy CAGR of 17.41% during the predicted period. In terms of revenue, Asia-Pacific is also expected to rise at a robust CAGR of 15.11% during the projected period.
Global Cricket Protein Powders Market: Key Players
Tiny Farms, All Things Bugs, Cowboy crickets, Entomo Farms, Chapul, Aspire Food Group, Grilo, JR Unique Foods, and Proti-Farm are some of the major players of the global cricket protein powders market.
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