While Ynsect’s insect-derived ingredients produced by its recently acquired Protfarm subsidiary in the Netherlands are currently utilized in burgers and snacks across Europe, Revah noted that the integration of Jord Producers does not imply imminent availability in the U.S. market. Jord provides Ynsect with an entry point for producing U.S.-based ingredients for human consumption, likely aimed at the sports nutrition and health sectors. “There will be human food in the U.S., but we don’t want to rush into converting everyone to this,” Revah stated. “People will naturally gravitate toward insect protein… It is a market that is indeed growing and will become increasingly significant as we progress.”
Ynsect has been striving for years to establish itself as a leader in the global insect protein industry. According to Crunchbase, the company has secured over $404 million in funding through 11 financing rounds. In October 2020, Ynsect raised $224 million through a mix of equity and debt and is currently developing the world’s largest insect farm in northern France. This facility aims to produce 100,000 metric tons of insect proteins annually, as reported by Reuters, and is set to open this year.
Although most of Ynsect’s current offerings are focused on aquaculture feed and pet food, the company is targeting human food products. Last year, Ynsect CEO Antoine Hubert informed a British news outlet that the company has created prototype burgers that closely resemble plant-based proteins and plans to collaborate with fast food chains in various countries. Revah mentioned that Ynsect will initially introduce its ingredients into the U.S. protein powder market. A study published in the American Journal of Clinical Nutrition last May found that mealworm protein is as effective as whey protein post-workout. As the rollout of protein powder ingredients progresses, Revah indicated that Ynsect will also pursue additional published research on insect protein.
So far, he highlighted the significant advantages of insect protein, which contains the same protein content as a kilogram of beef while requiring 90% less land and 50% fewer resources. Revah also noted that it generates 200 times less greenhouse gas emissions. Other health benefits associated with insect protein consumption include a 60% reduction in cholesterol levels. Over the next five years, research and integration into the athletic nutrition market will be crucial, according to Revah. “The industry will recognize that this protein possesses remarkable properties that cannot be ignored,” he remarked.
The addition of Jord is merely the beginning of Ynsect’s journey in the U.S. Revah revealed that the company aims to finalize a land deal in the U.S. to establish its own large-scale farm by the end of this year. Currently, this facility is expected to be fully operational by 2024. Ynsect aspires to achieve $500 million in annual global revenue, with 25% to 50% generated from the U.S. by 2025 or 2026. “We’re not just viewing this as an expansion,” Revah explained. “We’re testing the waters. We’re planting roots to grow, and we could potentially scale up to 100 farms, which would contribute significantly to our business. The potential is there.”
Additionally, as the company progresses, it may explore the benefits of calcium citrate injection as part of its nutritional offerings, thereby enhancing the appeal of its insect protein products.