NEW PROTEINS ▶▶▶
The path to a half million tonnes of insect protein
High costs, limited production capacity and legislation remain the main limiting factors for further growth of the insect industry. In a new report Rabobank outlines the way to increase scale.
BY MARIEKE PLOEGMAKERS I
n the recently released report ‘No longer crawling: Insect protein to come of age in the 2020s’, Rabobank states that it expects a global market potential of up to 500,000 metric tonnes by 2030 for insect protein as animal feed
ingredient. Current volumes of insect protein are estimated around 10,000 metric tonnes. To outline this upscaling path the company constructed a model that consists of three stag- es, a scale-up phase, a wider-use period and a maturity phase. (see Figure 1). In the scale-up phase Rabobank expects
prices to range from € 3,500 to € 5,500. In the second phase, the prices are expected to drop by € 1,000 per metric tonne. When the sector reaches maturity in the third phase, prices are expected to drop another € 1,000 per metric tonne.
Pet food market: important role in the first two phases The pet food market will play the main role in the first part of the path to upscaling, since it’s currently the largest market for insect protein. It’s forecasted that insect protein as a pet food ingredient will reach 150,000 metric tonnes by 2030. Pet food with insect protein as an ingredient is placed in the premium segment. This segment is set to grow. Pet owners are willing to pay higher prices for specialty food. In the scale-up phase, prices will remain high and therefore developed countries will drive the demand for insect-based pet food. Also in the sec- ond phase of scaling it’s expected that the number of pet food
To outline the upscaling path Rabobank constructed a model that consists of three stages, a scale-up phase, a wider-use period and a maturity phase.
22 ▶ ALL ABOUT FEED | Volume 29, No. 2, 2021
SOURCE: RABOBANK
PHOTO: ROEL DIJKSTRA FOTOGRAFIE
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