Following five years of solid growth and key partnerships with global animal feed providers, including aquafeed firms, InnovaFeed says that its expansion into the US petfood market comes at a time when the industry is ripe for insect protein adoption. The partnership with ADM follows recent US regulation allowing the use of black soldier fly (BSF) in food for dogs, while also pioneering the commercialisation of high-quality insect ingredients in this market segment in the US.
InnovaFeed currently operates the world's largest insect protein production facility and co-location symbiosis model in Nesle, France. With its circular and sero waste approach, InnovaFeed says that its carbon footprint is 80 percent lower than its competitors.
“In the face of critical environmental issues, the global agriculture industry must do its part to adapt and meet humanity’s challenges,” said Clément Ray, InnovaFeed co-founder and CEO, in a press release.
“At InnovaFeed, we’re revolutionising traditional practices by creating a new natural and
efficient industrial model on a large scale for sustainably sourced food. Insect protein is the next alternative protein ready to be scaled, with massive market potential.”
“Pet solutions is a strategic growth opportunity for ADM, with $100 billion in demand growing 4.5 percent a year,” said Jorge Martines, president, pet solutions for ADM. “Our agreement with InnovaFeed is another exciting expansion of our abilities in this space and our focus on creation, design and development of products and solutions that meet the needs of today’s pet owners. Pet owners increasingly are demanding the same kind of sustainable, healthy products they eat themselves, and we’re proud to work with InnovaFeed to continue to enhance our ability to meet these needs.”
According to InnovaFeed the global market for insect protein across all verticals—including plant nutrition, animal feed, pet food and human food – is expected to surpass €100 billion ($113 billion USD) over the next few years, reflecting growing demand for sustainable ingredients as well as a supportive regulatory environment.
InnovaFeed has already made major investments in its expansion venture. After raising €200 million from investors such as Temasek and Creadev, the company will begin research and development operations at the world’s largest insect-protein facility in Decatur, Illinois, later this year, building on ADM’s expertise in pet food as well as partnerships with leading academic institutions.
InnovaFeed is also targeting the US in 2022 as a promising market to launch ingredient solutions for human consumption. The company will offer new ingredients extracted from Hermetia illucens
as alternatives to animal and plant-based protein, enhancing the nutritional quality and environmental footprint of health-based consumer products, such as sports and medical nutrition products, healthy snacks and meat substitutes.
