Edible Insects Market Forecasts to 2028 – Global Analysis By Product Type (Insect Oil, Insect Powder, Insect Meal, Whole Insects), Insect Type (Crickets, Black Soldier Flies, Mealworms, Buffalo Worms, Grasshoppers, Ants, Silkworms, Cicadas, Other Edible Insects), Application (Food & Beverages, Feed), End User (Animal Nutrition, Human Consumption) and By Geography
According to Stratistics MRC, the Global Edible Insects Market is accounted for $832.07 million in 2022 and is expected to reach $247 million by 2028 growing at a CAGR of 19.9% during the forecast period. Edible insects are available in roasted, dried, and powdered forms and are utilised as a low-calorie ingredient in healthful food and beverage preparations. Grasshoppers, bees, ants, crickets, and wasps are examples of often encountered insects. Due to their bland tastes and effective binding abilities, these goods are mostly utilised to make trans-fat flours, protein bars, healthy snacks, and nutritional supplements.
According to the FDA, when soybean and fishmeal were replaced with black soldier fly larvae meal by 10–56%, broiler quail and chicken meat had a satisfactory taste, aroma, and nutritional composition. In addition, the black soldier fly meal was also used as fish feed for Nile tilapia (in different proportions), which resulted in similar growth performance and feed conversion.
Market Dynamics:
Driver:
Rising awareness on potential benefits of edible insects
With growing consumer awareness of the potential health benefits of edible insect products, rising demand for naturally fortified ingredients, and shifting dietary trends toward low-calorie and high-protein sources, industry players are coming up with creative ways to market their goods by giving away free samples, giving discounts, and using eye-catching packaging, which can be seen as one of edible insects' key market drivers.
Restraint:
Lack of awareness
Allergies might be caused by a lack of awareness and excessive eating of these edible insects. It is anticipated to impede the market's expansion for edible insects. Moreover, strict environmental laws, in addition to ethical and psychological obstacles relating to eating edible insects may further impede market expansion.
Opportunity:
Rapid urbanisation
The industry is also anticipated to grow faster overall due to increased urbanization and population growth. The main sensory elements that affect consumer acceptability of products made using insect protein are taste, texture, and appearance. In addition to them, restrictions set forth by governments and associated edible insect associations contribute to increased consumer confidence because they guarantee both safety and hygienic conditions.
Threat:
Stringent rules and negative perceptions about insects
The strict rules and regulations in North America and Europe for food manufacturers towards the use of edible insects in cheese, baked goods, and other food preparations to protect consumer interests are the market's biggest challenge, forcing industry players to offer creative, secure, and high-quality solutions. In addition, consumers' unfavourable attitudes about eating insects and a lack of information are anticipated to restrain the market's expansion over the projection period.
Covid-19 Impact:
The epidemic has created several issues for the food business, particularly in the worldwide meat market. The risk of manufacturing continuing, supply, distribution, a lack of labour, and fewer development activities have all had an impact on the insect feed market. The amount of meat consumed by people has decreased. This has made the issue facing the meat business worse and raised demand for meat replacements such edible insects and vegan goods. On the other hand, regular consumption of animal protein may be healthy for people. The market for edible insects is going through substantial strategic shifts. In March 2020, Thai Union Group (Thailand) announced a USD 30 million investment in new food technology and alternative proteins.
The cricket is expected to be the largest during the forecast period
Based on the insect type, the market is classified into Crickets, Black Soldier Flies, Mealworms, Buffalo Worms, Grasshoppers, Ants, Silkworms, Cicadas and Other Edible Insects. The edible insects market is projected to be dominated by the crickets sector. The high nutritional value and ease of farming and processing of crickets, their inclusion in a variety of recipes and food products, and the expanding demand for cricket-based food products, such as protein powders, protein bars, and snacks, are all factors in the growth of the market.
The food & beverages segment is expected to have the highest CAGR during the forecast period
Based on the application, the market is classified into food & beverages and feed. The food & beverages segment is anticipated to witness the fastest CAGR growth during the forecast period, as the rapid rise of this category is being driven by global food shortages, increased consumption of processed whole insects as food, and increased demand among end users for high-quality alternative protein and amino acid sources.
Region with highest share:
The Asia Pacific region market is estimated to witness a highest share of the global Edible Insects market during the forecast period, owing to the attributed to elements like well-established commercial farming markets for edible insects, particularly in Thailand, the wide availability of different insects combined with enormous production, the favourable attitude toward using insects as food and feed, the absence of regulatory barriers to using insects as food and feed, and the presence of important market players in the area.
Region with highest CAGR:
North America is projected to have the highest CAGR over the forecast period. Due to the rising need for protein-rich, eco-friendly food is the cause of the rising demand for edible insects. The main causes of the expanding acceptance of edible insects in North America also include a growing acquaintance with insects as food, a decline in food neophobia, and a change in attitudes toward insects both generally and as food.
Key players in the market
Some of the key players in Edible Insects market include Beta Hatch, Protenga Pte. Ltd., Hexafly, Cricket Lab Limited, Nutrition Technologies Group, TEBRIO, InnovaFeed, EnviroFlight, Entomo Farms, Buhler Holding AG, Agriprotein, All Things Bugs, Llc, Armstrong Cricket Farm Georgia, Thailand Unique, Nordic Insect Economy Ltd.
Key Developments:
In May 2020, Beta Hatch, a U.S.-based insect rearing technology company, received $3 million in a Series A1 funding round from Cavallo Ventures, Wilbur-Ellis’ venture capital arm and early-stage venture firm Innova Memphis. The round also included investments from Klein Private Equity Investment and Brighton Jones Investment Partners. Beta Hatch is expected to open its mealworm production facility for animal feed in North America.
In March 2019, Buhler Holding AG entered into a partnership with Alfa Laval AB to develop advanced solutions for the insect protein industry.
In October 2018, Entomo Farms which turns crickets into snacks has announced that it is planning to expand its business. The company is planning to increase its insect-based food catches business.
Product Types Covered:
• Introduction
• Insect Oil
• Insect Powder
• Insect Meal
• Whole Insects
Insect Types Covered:
• Crickets
• Black Soldier Flies
• Mealworms
• Buffalo Worms
• Grasshoppers
• Ants
• Silkworms
• Cicadas
• Other Insect Types
Application Covered:
• Food & Beverages
• Feed
End User Covered:
• Animal Nutrition
• Human Consumption
Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Learn how to effectively navigate the market research process to help guide your organization on the journey to success.
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