The global market for edible insects is presently estimated at US$ 3.2 billion, according to Fact.MR, a source of market research and competitive information, and it is anticipated to grow at a rapid CAGR of 18.5% between 2022 and 2032.
A revolutionary idea called an entotarian (someone who consumes only insects and no other meats) was developed as a solution to the issue of how to feed the predicted 10 billion people that will inhabit the planet in the coming decades. The Demand for Edible Insects has increased due to the increase in entotarians. The use of edible insects has also been progressively expanding due to customer demand for more sustainable and alternative food and feed products. For instance, people and domestic animals already consume about 2,000 different insect species on a regular basis across the world owing to their high protein, healthy fat, mineral, and vitamin content.
Fact.MR has analyzed that food manufacturers have seized this chance to enter the market and create a variety of products. The availability of various product types, including protein bars, edible insect snacks, mealworm cookies, cricket pasta, and honey caterpillar croquettes is gaining consumer attention.
Furthermore, the medical and production benefits related to edible insects are promoting their acceptance among both, manufacturers and consumers. For instance, insect farming for protein production requires less land and water, which further leads to fewer greenhouse gases. The nutritional difference between insect protein and conventional protein powder is another significant factor that is boosting the market for edible insects in the protein sector.
Get Sample PDF of This Research Report with Detailed Table of Content:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7691
Health Benefits of Edible Insects being Acknowledged by More People”
The eating habits of people will completely shift over the coming years. The world will be able to secure both a healthy way of life and a healthy planet with the help of effective, sustainable solutions. As such, in the near future, there will be huge demand for edible insects such as edible worms, crickets, ants, etc., as food because they are highly protein-rich and environment-friendly alternatives to conventional animal products such as beef and pork.
Additionally, the difference in nutritional content between edible insect protein powder and conventional protein powder is a key trend driving market growth. When it comes to production, for the extraction of protein, edible insect farming needs 8 to 10 times less land, 5 times less water, and emits 5 to 10 times lesser greenhouse gases, which are important factors catching the attention of more people and governments across the world. Escalation of the alternative proteins market will create a space for edible insects, which will drive market growth from 2025 to 2028.
Key Takeaways from Market Study
- The global edible insects market is projected to surge at a CAGR of 18.5% and reach US$ 17.6 billion by 2032.
- Sales of edible insects increased at 12.2% CAGR from 2017 to 2021.
- Under product type, whole edible insects dominate the market and are valued at US$ 2.1 billion in 2022.
- Europe leads the global market with 25.9% share in 2021.
- Consumption of edible insects is expected to skyrocket at CAGRs of 24.6% and 18%, respectively, in East Asia and North America.
Competitive Landscape
Prominent edible insect providers are Thailand Unique, Kreca Ento-Food BV, Nordic Insect Economy Ltd., Entomo Farms Ltd., Enviro Flight, LLC, ynsect, Exo protein, Protix, Deli Bugs Ltd., and Eat Grub Ltd.
The global edible insects market is primarily characterized by a large number of multinational players controlling a majority of the market share. Producers of edible insects are aiming for global expansion and are bringing in cutting-edge approaches to insect breeding and raising to boost both, productivity and quality. To introduce competitive and flexible insect production and processing technologies, businesses are investing in research & development operations.
- In Apr. 2021, Ynsect, a market leader in natural insect proteins, completed its acquisition of Protifarm. With the addition of two new species of mealworms to its offering, the integration led to an increase in Ynsect’s mealworm production capacity.
- In October 2021, in Canada, Aspire Food Group announced the development of a new automated plant for processing crickets. Aspire’s new facility would annually produce 9,000 metric tons of edible crickets for human and animal consumption.
Segmentation of Edible Insects Industry Research
- By Insects Type:
- Black Soldier Flies
- Beetles
- Caterpillars
- Hymenoptera
- Orthoptera
- True Bugs
- Others
- By Product Type :
- Whole
- Ingredients
- By Form :
- Whole Frozen
- Whole Dried
- Powder
- By End Use :
- Human Consumption
- Animal Nutrition
- By Distribution Channel :
- Online
- Brand Websites
- e-Commerce Platforms
- Offline
- Retail Shops
- Supermarkets/Hypermarkets
- Specialty Stores
- Direct Sales
- Online
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & ASEAN
- Oceania
- MEA
Quick Buy: Edible Insects Market Research Report
https://www.factmr.com/checkout/7691
Market Development
Despite challenging economic conditions, the business environment in the edible insects market reflects a rollup within the sector. With the rising preference for edible insects as a whole, companies are providing the same as a whole in the dried, frozen, and raw forms.
Businesses are also engaging in inorganic operations such as partnerships, acquisitions, and mergers.
- For instance, in the U.S., Ynsect worked with Pure Simple True LLC to release its initial product. This product introduction was a critical step for the business in its pursuit of expansion in the U.S. market.
Contact:
US Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail: [email protected]