Product ID: SQMIG30H2079
Global Mealworms Market Size, Share, Growth Analysis, By Product type(Whole Mealworm, Mealworm Meal), By Application(Animal Feed, Aquafeed) - Industry Forecast 2024-2031
Report ID:
SQMIG30H2079 |
Region:
Global |
Published Date: February, 2024
Pages:
157
|
Tables:
66 |
Figures:
75
Global Mealworms Market Insights
Global Mealworms Market size was valued at USD 0.13 billion in 2019 and is poised to grow from USD 0.16 billion in 2023 to USD 1.27 billion by 2031, growing at a CAGR of 25.8% in the forecast period (2024-2031).
As the COVID-19 pandemic spread to more than 215 countries, it became a global public health emergency. To combat the spread of this disease, many countries declared emergencies and announced complete nationwide, statewide, or citywide lockdowns, halting all travel, transportation, manufacturing, educational institutions, and non-essential trade. These restrictions had a significant impact on many industries, reducing global manufacturing and distribution. The COVID-19 pandemic had a significant impact on the food industry, affecting meat producers worldwide. Several challenges faced the meat products sector, including the risk of continuing production, distribution, and transportation; a lack of workforce; supply chain disruptions; and delays in development activities. These factors influenced the meat products industry, increasing demand for alternative proteins such as insect protein products (mealworm proteins). The rising greenhouse gas emissions from the livestock and poultry industries, the high nutritional value of mealworms, the environmental advantages of eating edible mealworms, and the lower risk of zoonotic diseases with insect consumption compared to the consumption of animal-derived products are some of the factors driving the growth of this market. However, the possibility of adverse reactions brought on by eating mealworms is anticipated to significantly slow the growth of this industry.
US Mealworms Market is poised to grow at a sustainable CAGR for the next forecast year.
Global Mealworms Market Report Snapshots
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