In an age defined by both the escalating global population and increased consciousness about environmental sustainability, insect protein presents a potentially innovative and lucrative avenue for investors. Touted for its environmental sustainability, nutritional benefits, and lower resource requirements, insect protein could offer an attractive, future-focused alternative to traditional animal-based feeds as well as human foods. Investors stand at the precipice of a burgeoning sector with considerable potential for returns, not only in economic terms but also contributing towards a sustainable food future. This article aims to show the current market’s state through existing companies that are pioneers in the industry of insects for food and feed.
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Continue reading for an exclusive exploration of the top global players in the insect protein industry, providing unique insight for investors eager to enter this emerging market.
This is a comprehensive list of the top 10 insect producers and market leaders from around the world.
1. Ynsect: A Mealworm Producer Based in France
- Country of Origin: France
- Main Insect Product: Mealworms
- Main Product: Human & Pet Food
Ynsect is a French company founded by scientists and environmental activists in 2011 that is pioneering a new industry realizing the full potential of mealworms. Mealworms are a type of beetle or larval form of the beetle which can be grown and processed with little or no carbon footprint. The company’s vision is to make the world a safer, healthier place that respects the planet’s limits by producing more food with much less impact . Ynsect cultivates its mealworms in state-of-the-art vertical farms powered by advanced robotics, computer vision and cutting-edge AI. Their pioneering work has led to 370+ patents and ensures every part of their process and products is optimized for maximum health, growth and productivity. In 2023, Ynsect raised €160 million (equivalent to $175 million) in capital to support its international growth, with a particular focus on producing high-quality food for both pets and humans.
2. Innovafeed, Black Soldier Fly Protein for Animals
https://innovafeed.com/en/accueil-anglais/
- Country of Origin: France
- Main Insect Product: Black Soldier Fly
- Main product: Animal & Pet Food
InnovaFeed, a French firm specializing in the operation of vertical insect farms for pet and animal feed, has recently accumulated $250 million in a series D financing round, with Qatar Investment Authority (QIA) at the helm. The funding is intended to help extend its vertical insect farming operations to the United States. In a joint venture with food processing giant Archer Daniels Midland (ADM), InnovaFeed is establishing the world’s most expansive insect protein facility in Decatur, Illinois. As stated in a recent Forbes analysis, this facility is projected to manufacture an annual output of 60,000 metric tons of animal feed protein, 20,000 metric tons of poultry and swine oils, and 400,000 tons of fertilizer.
3. Protix, Animal & Pet Food From the Netherlands
- Main insect: Black Soldier Fly
- Protein products for: Animal Feed & Pet Food
- Based in: the Netherlands
Protix, a multinational enterprise headquartered in the Netherlands, is a pioneer in protein production for animal feed and pet food, utilizing the Black Soldier Fly as its primary insect source. The company’s innovative stance on sustainable protein generation has taken it to a leadership position within its sector. Established in 2009 under the stewardship of CEO Kees Aarts, Protix presides over the world’s largest insect factory, situated in Bergen op Zoom, the Netherlands.
The firm has marked several significant achievements in its trajectory, one of which is the successful procurement of €45 million in funding in June 2017, representing the largest investment in the industry at that time.
4. Agronutris, a French Insect Startup for Animal & Pet Food
- Main insect: Black Soldier Fly
- Protein products for: Animal Feed & Pet Food
- Based in: France
Agronutris, a French biotechnology firm with a unique focus on breeding and processing insects for animal and pet food, is headquartered in Toulouse. The company has recently secured a substantial €100 million in funding, including €50 million of equity. These funds will support the deployment of their initial industrial-scale production facility in Rethel, Northern France, by the end of 2022, as well as underwrite the establishment of a second, larger site. Over the forthcoming years, Agronutris is anticipated to undergo a rapid period of expansion and development, based on a recent projection report.
5. Nutrition Technologies:
https://www.nutrition-technologies.com/
- Main insect: Black Soldier Fly
- Protein products for: Animal Feed & Pet Food
- Based in: Singapore/Malaysia
Nutrition Technologies, established in 2015 in Vietnam, is a firm specializing in the production and provision of sustainable animal feed constituents and biofertilizers. Their innovative process merges biotechnology with Black Soldier Fly Larvae (BSFL) to repurpose nutrients from agricultural and food waste and byproducts. Their main products consist of protein, oil, and organic fertilizer for animal and pet food and for the agriculture industry. The company, now primarily operating out of its production plant, laboratory, and office in Johor Bahru, Malaysia, employs a no-waste production methodology for its insect cultivation, using clean, traceable agro-industrial leftovers. In their recent September 2022 investment round, they garnered US$20m in funding from various investors such as PTT, Sumitomo, INGSI, Mandala Capital, Hera Capital, and Openspace Ventures. Nutrition Technologies is driven by a vision to forge a circular economy capable of sustainably feeding the world.
6. EntoSystems, Black Soldier Fly Startup in Canada
- Main insect: Black Soldier Fly
- Protein products for: Animal Feed & Pet Food
- Based in: Canada
EntoSystem, a Quebec-based firm, is driving the circular economy forward through the development of groundbreaking technological solutions for insect breeding, thereby contributing to Quebec’s food autonomy. The company is uniquely positioned to recycle organic waste from Quebec’s agri-food industry, which would otherwise be discarded, and repurpose it into a range of eco-friendly products via its population of black soldier fly larvae.
EntoSystem harnesses the black soldier fly larvae’s voracious appetite to consume the salvaged organic material. Post consumption, the larvae are dried and pulverized into a protein-rich flour, a resourceful alternative for feeding both domestic and farm animals. This circular methodology also facilitates the production of an effective, organically approved fertilizer, offering another valuable contribution to the market.
In April 2022, EntoSystem underscored its growth trajectory with the announcement of a new plant in Drummondville, a move made possible through a significant injection of over $60 million in public and private investments.
7. Aspire Food Group, Human & Pet Food
- Main insect used: Crickets
- Protein products for: Human Food and Pet Food
- Based in: Canada
Important to note: Recently opened what is likely the worlds largest cricket farm in Canada
Aspire Food Group, a biotech company, employs intelligent indoor farming technology to cultivate crickets in an optimal environment. By feeding the crickets a premium, custom-mixed diet abundant in nutrients and minerals, and maintaining superior hygiene and sanitation standards, the company ensures the production of top-quality crickets and its relevant bi-products.
The range of products offered by Aspire Food Group is diverse and includes cricket protein for incorporation into food products, and Frass. The latter is an entirely natural agricultural product comprising cricket waste, exoskeletons, and residual plant-based cricket feed, all of which provide significant benefits to plants and animals.
On the financial front, Aspire Food Group has amassed a total of $21.6 million in funding across three rounds, with the most recent funding coming from a grant round on February 18, 2021. According to Crunchbase the company enjoys the backing of three investors, with the most recent being Next Generation Manufacturing Canada and Sustainable Development Technology Canada.
8. Entobel, Black Soldier Fly Production in Vietnam
- Main insect: Black Soldier Fly
- Protein products for: Animal Feed and Pet Food
- Based in: Vietnam
Entobel is a biotech company based in Vietnam that produces insect-based ingredients from Black Soldier Fly (BSF). Their core products are food for animals and pets. Entobel has secured US$1.8 million in finance and is currently setting up its commercial factory in Vietnam, which will have an annual production capacity of 1,000 metric tons (Mt) of H-Meal.According to a Feed & Additive report, Entobel successfully raised $30 million in May 2022, including $5 million from Dragon Capital and $25 million from Mekong Enterprise Fund IV. As of the writing of this article, they are gearing up for a more global expansion, targeting the year 2023.
9. Enviroflight, a North American Pioneer in Insect Protein
- Main Insect: Black Soldrie Fly
- Protein products for: Animal Feed and Pet Food
- Based in: USA
EnviroFlight is a leader in insect protein for animal and plant nutrition, with a vision to transform the global food system. The company uses local, underused resources and Black Soldier Fly larvae (BSFL) to produce sustainable and ethical feed ingredients. EnviroFlight recently moved its headquarters to Apex, North Carolina, where it plans to build a 30,000-square-foot research and development facility this month. The company also completed the acquisition by Darling Food in 2020, strengthening its position in the market.
10. CricketOne, Crickets for Sustainable Human Consumption
- Main Insect: Crickets
- Protein products for: Human Food
- Based in: Vietnam
CricketOne is a company that leverages IoT technology and the circular economy to produce the most sustainable and affordable protein from crickets. The company provides consumers with products that are consistent in flavor, fragrance, texture, and nutrition while also having the lowest ecological impact possible. It also offers edible insects and cricket ingredients for human use. CricketOne is based in Vietnam and has its eye on becoming a major cricket powder supplier and alternative meat producer in Japan after recently closing a successful fundraising round with 500 Startups & Masik Enterprises. At the moment of writing CricketOne is the largest cricket producer in Asia.
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