Global Edible Insects Market - 2023-2030

Global Edible Insects Market - 2023-2030

The Global Edible Insects Market reached US$ 3.8 billion in 2022 and is projected to witness lucrative growth by reaching up to US$ 11.7 billion by 2030. The market is expected to exhibit a CAGR of 15.2% during the forecast period 2023-2030.

Edible insects are a sustainable protein source gaining popularity worldwide. Insect species (e.g., mealworms, crickets, and grasshoppers) are gaining recognition as sustainable protein sources and versatile ingredients in the food industry. Insect-based ingredients derived from these insect species are being incorporated into a variety of food products, ranging from protein bars to snacks, contributing to the growth of the edible insects market.

The edible insects market is witnessing rapid growth as a result of increasing interest in sustainable protein sources. The market for edible insects spans various food products, including protein bars, snacks, and even animal feed. As consumers become more aware of the benefits of edible insects, the market for these sustainable protein sources continues to expand, offering a unique and eco-friendly alternative to traditional food sources.

Market Dynamics

Unleashing the Nutritional Potential of Edible Insects Fuels Market Expansion

The edible insects market trend is driven by a key driver, that the insects contain high fat, protein, vitamin, fiber, and mineral content. Insects are a highly nutritious and healthy food source. Because of the enormous variety of edible insect species, the nutritional value of edible insects varies greatly. Nutritional differences exist even within the same animal group.

The worth of an insect varies depending on its metamorphic stage, its environment, and its diet. For example, the protein, vitamin, and mineral content of mealworms is comparable to that of fish (and greater than that of cattle and pigs), and the protein, vitamin, and mineral content of mealworms is comparable to that of fish and meat, further propelling the growth of the edible insects market share.

Challenges in Insect Processing and Extraction Hinder Growth of Edible Insects Market

One key restraint of the edible insect market is the challenge of insect processing and extraction. Scaling up production and developing efficient methods for processing insects can be complex and costly. Insect processing involves steps such as cleaning, drying, grinding, and extracting insect-based ingredients. Ensuring consistent quality, safety, and maintaining the nutritional value of the insects throughout the processing chain is crucial.

Additionally, addressing regulatory frameworks and standards for insect-based products in different regions adds further complexity. Overcoming these restraints requires ongoing research and development efforts to optimize processing techniques, enhance efficiency, and meet the required industry standards. Streamlining insect processing and extraction methods will contribute to the growth of the edible insects market share.

COVID-19 Impact Analysis

The COVID-19 Analysis includes Pre-COVID Scenario, COVID Scenario and Post-COVID Scenario along with Pricing Dynamics (Including pricing change during and post-pandemic comparing it with pre-COVID scenarios), Demand-Supply Spectrum (Shift in demand and supply owing to trading restrictions, lockdown and subsequent issues), Government Initiatives (Initiatives to revive market, sector or Industry by Government Bodies) and Manufacturers Strategic Initiatives (What manufacturers did to mitigate the COVID issues will be covered here).

Segment Analysis

The global edible insects market is segmented based on insect type, application, and region.

Beetles Take Center Stage in the Edible Insects Market, Fueled by Nutrition and Growing Demand

Beetles, a segment within the edible insects market, display strong growth potential supported by significant statistical values. With protein levels ranging from 15% to 40%, beetles offer a valuable protein source for consumers. The edible insects market analysis indicates that the global edible insects market, including beetles, is projected to reach a substantial value by 2027. Consumer interest is evident, with a majority expressing willingness to try insect-based food products.

Beetles' sustainability advantages, requiring fewer resources compared to traditional livestock, resonate with environmentally conscious consumers. The culinary world embraces beetles' unique flavors and textures, driving demand for innovative dishes. These statistics highlight the promising market growth for beetles, driven by their nutritional composition, expanding consumer acceptance, sustainability benefits, and culinary versatility.

Geographical Analysis

Asia Pacific Edible Insects Market Soars with Insect Protein and Sustainable Farming Driving Rapid Growth

By region, the global edible insects market is segmented into North America, South America, Europe, Asia-Pacific, and Middle-east & Africa.

According to the edible insects market analysis, the Asia Pacific edible insects market has witnessed substantial growth, with insect protein accounting for a significant share of the market. Insect farming has gained momentum, representing approximately 70% to 80% of insect sourcing in the region. This highlights the increasing emphasis on sustainable insect production practices. Insect-based food products have gained popularity, comprising around 60% to 70% of the edible insects market in the Asia Pacific region.

The nutritional composition of insects, with an average protein content of 60% to 70%, has contributed to their inclusion in various food products. Overall, these statistical data demonstrate the significant presence of insect protein and insect-based food products in the Asia Pacific edible insects market, reflecting the growing acceptance and adoption of insects as a sustainable and nutritious food source in the region.

Competitive Landscape

The major global players include ProtiFarm Holding NV, Entomo Farms, Haocheng Mealworms, Inc., Chapul, Insects SAS, Deli Bugs Ltd., Hargol FoodTech, Bitty Foods, All Things Bugs, LLC, and Tiny Farms.

Why Purchase the Report?
• To visualize the global edible insects market segmentation based on insect type, application, and region, as well as understand key commercial assets and players.
• Identify commercial opportunities by analyzing trends and co-development.
• Excel data sheet with numerous data points of edible insects market-level with all segments.
• The PDF report consists of a comprehensive analysis after exhaustive qualitative interviews and an in-depth study.
• Product mapping available as Excel consisting of key products of all the major players.

The global edible insects market report would provide approximately 53 tables, 50 figures, and 195 Pages.

Target Audience 2023
• Manufacturers/ Buyers
• Industry Investors/Investment Bankers
• Research Professionals
• Emerging Companies