Global Edible Insects Market Analysis, Drivers, Restraints, Opportunities, Threats, Trends, Applications, and Growth Forecast to 2028
The Edible Insects Market Report has been segmented on the basis of product type, insect type, application, and region.
Edible Insects Market: Overview
Edible Insects Market was valued at $24 million in 2020 & is projected to reach $34 million by 2030. It is expected to grow at a 5% CAGR between 2021 and 2030.
Edible insects are those insects that are going through a large amount transition from being scarcity food to the foods which are included in their day-to-day diet.
In the present time, insects are not only consumed during the famine as conventional food products but are part of the food tradition of many countries.
These edible insects are used in animal feed as well as human food owing to the high content of amino acids and essential minerals. Rich sources of nutrition for poultry are edible insects including termites, crickets, wasps, ants, flies, cockroaches, grasshoppers, bees, and scale insects.
Edible insects are mostly those insects, which are not harmful and are considered harmless for human feeding.
Edible Insects Market: Dynamics
Growing health concerns among consumers due to increasing consumption of unhealthy foods coupled with shifting trends towards intake of protein-rich foods and higher demand for ready-to-eat meals intake are major factors expected to drive the market growth over the forecast period.
In addition, increasing significance to farming which requires minimum savings along with a decline in seafood resources and limitations executed by countries on fishing will strengthen the product demand over the forecast timeframe are some of the other factors expected to drive the demand for the edible insects globally.
Furthermore, increasing demand for animal-based food to feed the huge population, and these edible insects have many benefits are among the other factors expected to drive the growth of the target market over the forecoming years.
However, higher costs compared to traditional components are a major factor that could restrain the growth of the target market to a certain extent.
Major trends observed in the global edible insect market are increasing demand for high protein value food products among middle-class consumers and the rising population worldwide.
Edible Insects Market: Segment Analysis
The product type segment is sub-segmented into insect powder, whole insects, and insect meal. The insect type segment is sub-segmented into, ants, mealworms, silkworms, black soldier flies, crickets, buffalo, grasshoppers, and cicadas.
The application segment is sub-segmented into processed insect powder animal and pet feed products, processed whole insects, protein shakes, insect protein bars and insect baked products and snacks, insect confectionaries, and insect beverages.
Edible Insects Market: Regional Analysis
In 2018, the market in North America is expected to account for a higher market share and is expected to drive growth over the forecast period. This is primarily attributed to growing dislikes for highly processed foods in countries such as the US.
Asia Pacific market is expected to register the fastest growth in terms of revenue in the near future, due to increasing population, rising food demand, and increasing dependency on edible insects are the major factors expected to drive the growth of the target market in the Asia Pacific region.
Edible Insects Market Segmentation:
Segmentation by product type:
- Whole Insects
- Insect Powder
- Insect Meal
Segmentation by insect type:
- Black Soldier Flies
Segmentation by application:
- Processed Whole Insects.
- Animal and Pet Feed Products
- Processed Insect Powder
- Insect Protein Bars and Protein Shakes
- Insect Baked Products and Snacks
- Insect Confectionaries
- Insect Beverages
Segmentation by region:
- North America
- Asia Pacific
- Latin America
- Middle East & Africa
Attribute Report Details Market Size Ask For Market Size Growth Rate Ask For Growth Rate Key Companies Ask For Companies Report Coverage Revenue analysis, Competitive landscape, Key company analysis, Market Trends, Key segments, Distribution Channel, Market Dynamics, COVID-19 Impact Analysis and more… Historical Data Period 2015-2020 Base Year 2022 Forecast Period 2022-2031 Region Scope North America, Europe, Asia-Pacific, South America, Middle East & Africa Country Scope United States, Canada and Mexico, Germany, France, UK, Russia and Italy, China, Japan, Korea, India and Southeast Asia, Brazil, Argentina, Colombia etc.Saudi Arabia, UAE, Egypt, Nigeria and South Africa Revenue in US$ Mn
- Kreca Ento-Food Bv
- Thailand Unique
- Entomo Farms
- Haocheng Mealworm Inc.
- Global Bugs Asia Co. Ltd.
- AgriProtein Holdings Ltd
- JIMINI`S (Entomo Ltd)
- Enorm ApS
- Chapul Inc.
- SAS Ynsect
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