Insects are generally considered pests for crops and animals. However, the usage of insects for eatable purposes has seen an uplift over the past few years due to varied advantages. It has been noticed that the consumption of edible insects has contributed to positive livelihood and health for both animals and humans. Rising consumption of sustainable diets due to their affordability, safety, and easy accessibility has intensified the demand for edible insects across the globe.
The global edible insect market is growing at a significant pace and is anticipated to observe robust growth over the next seven years until 2023. Rising health consciousness, as well as the avoidance of unhealthy food consumption, are expected to strengthen the demand for edible insects and the market’s growth during the forecast period. Apart from this, rising edible insect utilization for animal feed, primarily poultry, is likely to propel the demand for edible insects until 2023.
At present, the Asia-Pacific region captured the maximum share in revenue from the edible insect market and is anticipated to dominate over the forecast period. Rising awareness related to the benefits of eating edible insects, along with increasing demand by various companies in the confectionary and drinks segments, is projected to boost the demand for edible insects in the Asia Pacific region over the coming few years and will expand the growth of the market during the forecast period. Rising consumption and usage of edible insects in the manufacturing of cookies, biscuits, soups, smoothies, desserts, and bread is further anticipated to impel the growth of the global edible insect market during the forecast period.
The global edible insect market is mainly concentrated in Asia. Major players are adopting different market strategies to enter and enhance their market position and distribution network.
The global edible insects market is segmented on the following bases:
By Insect Type
- Protein Bars
- North America
- Rest of Europe
- Rest of Asia-Pacific
- Latin America
- Rest of Latin America
- Middle East and Africa
- GCC Countries
- South Africa
- Rest of Middle East and Africa
Key players identified across the value chain in the edible insect market include but are not limited to:
Kreta, Nordic Insect Economy Ltd., Proti-Farm, Deli Bugs Ltd., Enviro Flight LLC, Exo Inc., AgriProtein, Entomo Farms, Fluker Farms, HaoCheng Mealworm Inc., and others
This report offers the following:
- An overview of the global edible insect market
- Market trends assessment for the period 2016-2023, with historical information for 2013 and 2014 and projections through 2023, with respective CAGRs during 2016-2023 and 2015 as the base year
- Qualitative assessment tools such as market drivers, challenges, and future prospects, and competitive analysis: market positioning of key market players
- Focus on each level of market segmentation based on product approvals, launches, and current and anticipated market dynamics.
- A general overview of the industry structure
- Company profiles highlighting key information about the major players operating in the global edible insects market,
- This report includes an estimation of market sizes for value. Both top-down and bottom-up approaches have been used to estimate and validate the size of the edible insect market.