Edible Insects Market - Global Benzyl Chloride Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2031- (By Derivatives Coverage, By Geographic Coverage and By Company)

Edible Insects Market - Global Benzyl Chloride Industry Analysis, Size, Share, Growth, Trends, and Forecast 2024-2031- (By Derivatives Coverage, By Geographic Coverage and By Company)

The global edible insects market is witnessing unprecedented growth, with a recorded valuation of approximately US$ 10.1 billion in 2024. Forecasts suggest a significant CAGR of 39.7%, potentially reaching US$ 105 billion by 2031. This exponential rise is fueled by increasing consumer preference for healthier, sustainable protein sources, especially in regions like Asia and North America.

With growing awareness of nutritional benefits, edible insects are emerging as a prominent protein source for both direct consumption and animal feed. In Asia, insects like beetles and mealworms are integral to culinary practices, being commonly sold as street food or packaged products. In Western countries, insects are gaining popularity as powdered protein sources, widely used in snacks and supplements.

Drivers of Market Growth

1.Consumer Preference for Healthy Lifestyles: Health-conscious consumers are increasingly turning to insects for their high protein and nutrient content. The stigma associated with insect consumption is diminishing as companies offer products like insect powders, which are versatile, nutritious, and palatable.

2.Economic and Environmental Benefits: Insect farming requires minimal investment and is considered a cost-effective option for impoverished communities. It also requires significantly less land and water than conventional livestock farming, making it an environmentally sustainable choice.

3.Technological Advancements in Insect Farming: Emerging technologies, including IoT and automated breeding techniques, are being integrated into insect farming. For instance, Protix, an insect farming company, partnered with Bühler Group to leverage IoT and other advanced technologies, enhancing the efficiency of insect production.

Business Opportunities

The edible insects market offers immense potential as an economical alternative to traditional protein sources. Declining prices of insect-based products are opening doors for mass adoption across industries. Insect-based proteins are increasingly used in animal feed, helping reduce reliance on more costly soy and fish-based proteins, which account for a substantial portion of feed costs.

Regional Market Insights
• Asia Pacific: With a vast array of edible insect species and a cultural acceptance of insect consumption, the Asia Pacific region is set to lead the market. The growing population and food demand have increased the focus on edible insects, providing a vital income source for local communities with minimal resources.
• North America: Holding a 33% share of the global edible insects market, North America, particularly the U.S., is experiencing a surge in demand for alternative protein sources. The region is driven by health-conscious consumers seeking sustainable and nutritious protein sources amidst concerns over agricultural land depletion and dietary deficiencies.

Category-wise Insights
• Insect Type: Mealworms dominate the market, with a 43% revenue share, popular in both snack and powdered forms due to their high protein content and growing acceptance in Western markets.
• Product Type: Insect-based protein powders account for the highest market share, around 42.8%, as the powdered form addresses concerns over insect consumption by offering a versatile, palatable protein source that can be easily incorporated into various food items.

Competitive Analysis

The edible insects market for animal feed and human consumption is highly competitive, with key players focusing on innovative product offerings to cater to growing demand. Companies with a global presence contribute to nearly half of the market share, offering a diverse range of insect-based products for direct consumption and animal nutrition. Leading companies include:
• Thailand Unique
• Kreca Ento-Food BV
• Nordic Insect Economy Ltd.
• Entomo Farms Ltd.
• Enviro Flight, LLC
• Proti-Farm
• Exo Inc.
• ENTOTECH
• Deli Bugs Ltd.
• Eat Grub Ltd.

Edible Insects Market Segmentation

By Insect Type:
• Beetles
• Hymenoptera
• Orthoptera
• True Bugs
• Others

By Product Type:
• Whole
Steam or Fried
Raw
BBQ
• Ingredient
Drinks
Insect Confectionary
Snacks and Baked Products
Others

By Region:
• North America
• Latin America
• Europe
• South Asia & Pacific
• East Asia
• Middle East & Africa

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