Edible Insects Market
Meticulous Research® –leading
global market research company published a research report titled “Edible Insects Market by Type (Edible
Crickets, Mealworms, Black Soldier Fly, Grasshopper), Product (Whole Insects,
Insect Flour, Cricket Protein Bars, Insect Snacks, Insect In Chocolate) –
Global Opportunity Analysis and Industry Forecast (2018-2023)”
According to this latest
publication from Meticulous Research®, the global edible insects
market will grow at a CAGR of 23.8% from 2018 to 2023 to reach USD 1,181.6
million by 2023, primarily driven by growing population and decreasing food
resources, increasing demand for protein rich food, high cost of animal
protein, environmental sustainability with production and consumption of edible
insects, high nutritional value of insects, and low risk of transmitting
zoonotic diseases. However, non-standardized regulatory framework across the
globe, lack of awareness, psychological and ethical barriers, and allergies due
to insect’s consumption are the major factor restraining growth of this market
to some extent.
The global edible insects
market is mainly segmented by insect type, product type, application, and
geography. On the basis of insect type, the global edible insects market is
segmented into crickets, mealworms, black soldier flies, buffalos,
grasshoppers, ants, silkworms, cicadas, and others. Crickets commanded the
largest share in 2017 and expected to dominate the global edible insects market
during the forecast period, primarily attributed to its high nutritional value,
easy farming, easy processing and incorporation into various food recipes &
products, and increasing demand for cricket-based products, such as protein
powder, protein bars, and snacks among others.
On the basis of product
type, the global edible insects market is segmented into whole insects, insect
meal, insect powder, insect protein bars and protein shakes, insect baked
product and snacks, insect confectionaries, insect beverages, insect oil, and
others. The whole insects commanded the largest share in 2017, owing to its
easy availability, their less cost as compared to processed insects, and
unavailability of the processing techniques in some regions. However, insect
protein bars and protein shakes market is expected to grow at a highest CAGR
during the forecast period. The fast growth of this type is mainly attributed
to increasing inclination of young generation towards the fitness and wellness,
rising number of health clubs and fitness centers, and busy lifestyle and
swelled disposable income which demands highly nutritious and convenient food.
On the basis of
application, the global edible insects market is segmented into human
consumption, animal nutrition, and cosmetics and pharmaceutical. Human
consumption held the largest share of the market in 2017 and expected to
dominate the market during the forecast period. The large share of this segment
is mainly attributed to increasing demand for animal-based food to feed the
exponentially growing global population, high nutritional value of insects for
human consumption, and growing demand for environmental friendly protein
alternative sources.
Geographically, this
market is segmented into five regions, namely North America, Europe, Asia
Pacific, Latin America, and Middle East & Africa. Asia-Pacific accounted
for the major share of the global edible insects market in 2017, followed by
Latin America, and Europe region. The large share of this region is primarily
attributed to diversity of insects and huge production, positive attitude
towards the insect as food and feed, and no regulatory barrier to use insect as
food and feed. However, North American countries are slated to register the
fastest growth during the forecast period, primarily due to growing demand for
environmental friendly high protein diets, aversion to highly processed foods,
increasing demand for insect based foods, presence of large number of insect
based food product manufactures, and growing concern about meat production.
The key players operating
in the global edible insects market are KrecaEnto-Food BV, Thailand Unique,
Entomo Farms, Haocheng Mealworm Inc., Global Bugs Asia Co. Ltd, Agriprotein
Holdings Ltd., JIMINI’S (ENTOMA LTD), EnormApS, Chapul Inc., Ynsect, Eat Grub
Ltd., Bitty Foods, LLC, EAP GROUP – MICRONUTRIS, Edible Inc., Bugs Solutely,
Crik Nutrition, Enviro Flight, LLC, Entotech SAS, Deli Bugs Ltd., Hargol
Food Tech, Aspire Food Group, and All Things Bugs, LLC.
Key questions answered in
the report-
- Which are the high growth market
segments in terms of insect type, product type, application, and
regions/countries?
- What is the historical market for
edible insects across the globe?
- What are the market forecasts and
estimates from the period 2017-2023?
- What are the major drivers,
restraints, opportunities, and trends in the global edible insects market?
- Who are the major players in the
global edible insects and what share of the market do they hold?
- Who are the major players in various
countries and what share of the market do they hold?
- What are the competitive landscapes
and who are the market leaders by sub-region in the global edible insects
market?
- What are the recent developments in
the global edible insects market?
- What are the different strategies
adopted by the major players in the global edible insects market?
- What are the geographical trends and
high growth regions/ countries?
- Who are the local emerging players in
the global edible insects market and how do they compete with the global
players?
About Meticulous Research®
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founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in
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Viren Shrivastava
Viren Shrivastava
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Global Sales and Marketing
Meticulous
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