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The global edible insects market is expected to witness a significant rise during the forecast years, due to increasing consumption of edible insects among the consumers. Also, increasing interest in edible insects in the food and feed industries as the edible insects consist of amino acids and necessary minerals. An upsurge in demand for edible insects from various food industries is projected to contribute to its market growth in the forthcoming years.
Key market players operating in the global edible insect market are focusing on launching new products in the local as well as international market for maintaining their importance in the market. Coalo Vally Farms (US), Aspire Food Group (US), All Things Bugs, LLC (US), Beta Hatch Inc. (US) are some of the key players operating in the global edible insects market.
Edible insects are mostly consumed on a daily basis, but there are few countries which has less awareness about edible insects. Edible insects are used as human food and also as animal feed as it comprises of essential minerals and amino acids. Edible insects including wasps, scale insects, ants, crickets, flies, bees, termites, cockroaches, beetles, and grasshoppers are the rich sources of nutrition for poultry.
Key Market Driver -
Increasing demand for food products that are rich in nutrients is expected to drive the growth of the global edible insects market
Key Market Restraint -
Non-standardized regulatory framework is expected to hamper the growth of the global edible insects market
Increasing inclination towards consumption of protein rich food among consumers coupled with changing eating habits of many individuals which is expected to boost the demand for edible insects market in the upcoming years. Edible insects are used in agriculture farming for essential nutrients for the crops. Furthermore, increasing importance towards farming and rising government initiatives for edible insects is among the other factor that drives the growth of the market during the forecast period.
High cost of plant-based and animal protein is expected to fuel the growth of edible insects demand. High protein content in edible insects, which paves a way for the athletes and sports person.
Lack of awareness and over consumption of these edible insects can cause allergies which is expected to hamper the growth of edible insects market. Furthermore, strict environmental regulations, coupled with psychological and ethical barriers regarding the consumption of edible insects can further restrain market growth.
Some key companies that are present in the global edible insects market are Cricket Lab (U.K.), JR Unique Foods Ltd., Part (Thailand), Global Bugs Asia Co., Ltd. (Thailand), Haocheng Mealworm Inc. (China), Kreca Ento-Food BV (The Netherlands), Coalo Vally Farms (US), Aspire Food Group (US), All Things Bugs, LLC (US), Beta Hatch Inc. (US), and The Bühler Holding AG (Switzerland). New product development with flavourful innovation remains one of the most preferred strategies in the global edible insects market.
By insect type, the global edible insect market has been segmented into crickets, mealworms, black soldier flies, buffalo’s, grasshoppers, ants, silkworms, and cicadas. The demand for grasshoppers is projected to be high during the forecast period, as they are a rich in proteins, vitamins, and minerals and consist of low cholesterol level. Crickets are another prominent segment which is expected to drive the segment, as they are useful in farming techniques and is eco-friendly, cost efficient and also non-toxic as compared to other types.
By product type, the global edible insect market has been segmented into whole insects, insect powder, and insect meal. There is an increase in demand for the whole insects due to increasing preference for edible insects as a whole insects and many players are also offering packed edible insects as a whole in BBQ, dried, and in a raw form.
The demand for edible insects is increasing among many human beings due to increasing consumer interest in edible insects food products. Declining interest of consumers in animal-based protein due to their low sustainable nature and side-effects on health is expected to create huge growth scope for edible insects market in the upcoming years.
North America and Europe are two prominent markets for edible insects owing to the growing demand for eco-friendly high protein diets among many individuals. The domestic sales performance of edible insects in countries such as the US, the U.K., Germany, and France is expected to facilitate the future growth of the market.
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The Asia Pacific market for edible insects is exhibiting robust growth owing to growing insect farming coupled with low cost of transportation and low costs of the raw materials. In addition, increasing demand for natural ingredients in various convenience food products is one of the other factor that is driving the growth of the global edible insects market at the forecast period.
By Insect Type
By Product Type
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