Demand for insect protein could hit 500,000 tons by 2030 The demand for insect protein, mainly as an ingredient in feed and pet food, could reach half a million metric tons by 2030, up from today’s market of around 10,000 metric tons, predict the authors of a new RaboResearch report.
Beyhan de Jong and Gorjan Nikolik, senior analysts, seafood, Rabobank, say reaching that tonnage milestone in 2030 would be a major turning point for the insect industry.
“The insect industry is on a path to increase scale, backed by investments and partnerships. Efficiency gains due to increasing technology, automation, improvements in genetics, and legislative changes will also enable costs to decrease. After reaching half a million metric tons, it will get easier for the industry to expand supply. From that point on, it will take much less time to double or even quadruple production volume and exceed one million metric tons.”