Edible Insects for Human Consumption Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and

Edible Insects for Human Consumption Market - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2031 - By Product, Technology, Grade, Application, End-user, Region: (North America, Europe, Asia Pacific, Latin America and Middle East and Africa)

Global Edible Insects for Human Consumption Market Set for Remarkable Growth

The global market for edible insects for human consumption is poised for substantial growth, with estimations indicating a surge from US$ 660 million in 2024 to an impressive US$ 1,000 million by the close of 2031. This forecasted growth, at a steady rate of 6.0%, underscores the burgeoning demand for insect-based protein and food among consumers worldwide.

Key Trends Driving Market Expansion

Start-up Culture in Europe: Europe has become a hotbed for start-up companies venturing into the domain of edible insect farming and protein manufacturing. The burgeoning landscape presents ample opportunities for producers to craft innovative insect-based protein and snacks tailored for human consumption. Notably, the minimal capital requirements at the outset and the eco-friendly nature of insect farming are fuelling the growth of this sector.

Increasing Rate of Investments in High Potential Markets: Established markets like Europe and North America are witnessing a surge in demand for edible insects. With a multitude of startups offering insect-based products, investors are recognizing the immense potential of this sector and are directing significant investments towards related ventures. Recent investments, such as the multi-million dollar injection into Protifarm Holding NV, signify the momentum driving this market forward.

Promoting Insect Protein and Products as a Healthier Alternative: Insect protein emerges as a nutritionally dense alternative to traditional protein sources, boasting higher protein content and an array of essential nutrients. Manufacturers are leveraging these inherent advantages to position their products as healthier alternatives, backed by endorsements from athletes and sportspersons. Companies like Exo Protein are tapping into local influencers to advocate for the benefits of insect-based nutrition.

Lack of Awareness Among Consumers to Restrict Market Expansion: Despite the promising outlook, the market faces challenges stemming from limited consumer awareness, particularly in Western regions. Efforts to educate consumers about the nutritional benefits of edible insects are imperative for sustained market expansion. Additionally, maintaining product quality and building consumer trust are crucial for overcoming initial skepticism.

Country-wise Insights

Dominance of Middle East and Africa: The Middle East and Africa emerge as frontrunners in the global edible insects market, capturing a significant share of 25.7%, followed closely by Latin America at 22.1%.

Demand Outlook for North America

The United States Leads the Charge: North America, with an estimated market value of US$ 44.06 million in 2023. The United States spearheads this growth trajectory, driven by escalating demand for protein-based products.

Category-wise Insights

The Reign of Caterpillars: Among edible insect types, caterpillars hold the highest value share, accounting for 18.2% of the global market. With a projected CAGR of 6.5%, caterpillars are poised to maintain their dominance in the foreseeable future.

Demand for Edible Insects in Snacks and Baked Products

Versatile Applications: Edible insects find widespread application as ingredients in various end-use industries, particularly in snacks and baked goods. The demand for edible insects in this category is estimated at US$ 94.60 million in 2023, set to reach US$ 140 million by 2031.

Competitive Dashboard

Innovative Offerings Drive Growth: Manufacturers are diversifying their product portfolios to offer value-added edible insects with enhanced functional and organoleptic properties. Emphasis on increasing production capacity and forging strategic alliances with regional players underscores the commitment to meeting escalating demand worldwide.

Notable Players Driving Innovation: Companies such as Kreca Ento-Food BV, Cricket Flours LLC, and DeliBugs are at the forefront of innovation, leveraging lactose-free formulations, natural sourcing, and crowdfunding initiatives to expand their market reach and product offerings.

As the global population seeks sustainable and nutritious food alternatives, the market for edible insects for human consumption is poised for transformative growth. With innovative trends, strategic investments, and concerted efforts to raise consumer awareness, the industry is set to thrive in the years to come.

Edible Insects for Human Consumption Industry Research by Category

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

By Product Type:
• Whole

o Steam or Fried

o Raw

o BBQ
• Ingredient

o Drinks

o Insect Confectionery

o Snacks & Baked Products

o Others

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

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