Latest Research: 2019 Global Meal Worms Feed Market Report
Meal worms are packaged worms used to feed fishes in aquariums, tanks, and sanctuaries. It is considered to be a wholesome meal for fishes and is used widely by people who keep fishes. These insects contain a high amount of protein and thus helps maintain growth in marine animals. It is also used by the poultry industry as chicken feed, although not primarily. The primary worm used in these feeds is the larvae form of the Tenebrio Molitor, also known as the darkling beetle. The industry that meal worm feeds belong to is known as the aquafeed industry.
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The current market price for meal worms feed is considered to be quite high compared to other forms of marine food supplement. As a result the aquafeed industry is trying to come up with protein alternatives that will help them bring down the price of meal worm feeds. The rise in aquaculture and fish sanctuaries is leading to a higher demand for meal worm feed. The other products that are in competition within this industry are fishmeal and soy-meal, both being high priced products. The demand for protein heavy meals in the poultry industry is also adding to the demand of meal worm feeds.
Various other protein meals for animals also use the same insect as their protein base, which also helps fuel the aquafeed industry. It is expected that alternate protein sources will soon be discovered and will change the course of this industry and the composition of meal worm feeds as well. The report published on the global meal worms feed market revealed the growth to be at a notable pace. The valuation of the meal worms feed market was further stated to surpass its previous valuation.
The global meal worms feed market has been segmented in terms of type and applications.
By type, the market segments into consumption level and medicinal level.
By application, the market includes pet food, animal feed, aquaculture, and others.
The global meal worms feed market is geographically distributed across the following key regions: Latin America, Asia Pacific, North America, Europe, and the Middle East and Africa. The Asia Pacific regional market for meal worms feed is one of the biggest in the world. This is majorly due to the preference of such meals in this region. In Asian countries like Thailand, Singapore, Japan, Korea, meal worms are highly popular as a food product. Additionally, its growth is reported in the US and parts of North America with the United Nations suggesting people to consume such products as it’s nutritious and cheap. These food can majorly help in fighting malnutrition across the world.
Katharina Unger, the 28-year old entrepreneur and founder of the startup Livin Farms, is continuing her efforts of making insect incubators. She is currently working upon a compact model in order to cultivate mealworms.
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Source: EIN Presswire