Edible Insects Market to Garner $ 7.96 billion , Globally, by 2025 at 24.4% CAGR, Says Meticulous Research
Pune, Maharashtra, February 11, 2020 (Wired Release) Meticulous Research leading global market research company published a research report titled “ Edible Insects Market by Product Type (Whole Insect, Insect Powder, Insect Meal), Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Animal Feed, Protein Bar and Shakes, Bakery, Confectionery, Beverages) Global Forecast to 2030”.
According to this latest publication from Meticulous Research®, the global edible insects market is expected to reach USD 7.96 billion by 2030, supported by a CAGR of 24.4% during the forecast period of 2019 to 2030. In terms of volume, this market is poised to grow at a CAGR of 27.8% during the forecast period to reach 732,684.1 tonnes by 2030. The growth of this market is majorly driven by factors such as growing population and decreasing food resources, increasing demand for protein rich food, high cost of animal protein, environment sustainability with production and consumption of edible insects, high nutritional value of insects, and low risk of transmitting zoonotic diseases are driving the growth of the global edible insects market. 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 factors restraining growth of this market to some extent.
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The global edible insects market study presents historical market data in terms of value and volume (2017 and 2018), estimated current data (2019), and forecasts for 2030 by product type (whole insect, insect powder, and insect meal), insect type (crickets, black soldier flies, mealworms, buffalos, grasshoppers, ants, silkworm, cicadas, and others), application (processed whole insect, animal and pet feed products, processed insect powder, insect protein bar and protein shakes, insect baked products and snacks, insect confectioneries, insect beverages, and others), end use (human nutrition and animal consumption). The study also evaluates industry competitors and analyzes the market at regional and country level.
Key questions answered in the report-
Which are the high growth market segments in terms of product types, insect types, application, end use, and region/countries?What was the historical market (both in terms of value and volume) for edible insects across the globe?What are the market forecasts and estimates (both in terms of value and volume) for the period 2019-2030?What are the major drivers, restraints, opportunities, and challenges in the global edible insects market?Who are the major players in the edible insects market?How is the competitive landscape and who are the market leaders 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 edible insects market and how do they compete with the global players?
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Based on product type, insect powder is expected to grow at a highest CAGR during the forecast period, due to factors such as unwillingness of eating whole insects; high shelf life and availability in off season; wide range of applications in various food and feed products; and emergence of several startups producing insect protein bars shakes, beverages, and pasta, among others.
Based on insect type, crickets commanded the largest share in 2018 and expected to dominate the global edible insects market during the forecast period. The growth of this type is primarily attributed to its high nutritional value, easy farming, easy processing, and growing use in various food recipes products. Also, increasing demand for cricket-based products, such as protein powder, protein bars, and snacks, among others further supports the growth of this segment.
Based on application, processed whole insects segment dominated the edible insects market in 2018. The large share of this segment is mainly attributed to large scale production of raw whole insects, growing acceptability towards insect eating, high nutritional value of insects for human consumption and animal nutrition, and growing demand for environment friendly protein alternative sources. However, the insect protein bars and protein shakes application segment is expected to grow at a highest CAGR during the forecast period. The fast growth of this segment 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.
Based on end use, human consumption dominated the edible insects market in 2018, owing to increasing demand for animal-based food to feed the exponentially growing global population, high nutritional value of insects for human consumption, growing demand for environment friendly protein alternative sources, growing acceptance of insects and insect-based food among people, and emergence of large number of insect food companies across the globe.
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This research report analyzes major geographies and provides comprehensive analysis of North America (U.S. and Canada), Europe (The Netherlands, Belgium, France, U.K., Denmark, Finland, Germany, and Rest of Europe), Asia-Pacific (Thailand, China, South Korea, Vietnam, and RoAPAC), Latin America, and Middle East Africa. Asia-Pacific commanded the largest share of the global edible insects market in 2018, followed by Europe and North America. The largest share of this region is mainly attributed to the insect’s diversity and huge production, positive attitude towards the insect as food and feed, and no regulatory barrier to use insect in food and feed.
The key players operating in the global edible insects market are Kreca Ento-Food Bv (A Proti-Farm Company), Entomo Farms, Haocheng Mealworm Inc, Agriprotein, Ynsect, Deli Bugs Ltd., Hargol Foodtech, Aspire Food Group, All Things Bugs, LLC, Tiny Farms, Beta Hatch, Entocube, Nordic Insect Economy, Rocky Mountain Micro Ranch, CoaloVally Farms, Armstrong Cricket Farm Georgia, Cowboy Cricket Farms, Global Bugs Asia Co., Ltd., Jr Unique Foods Ltd., and The Cricket Lab, among many other local and regional players.
Scope of the Report:
Market by Product Type
Whole InsectsInsect PowderInsect Meal
Market by Insect Type
CricketsMealwormsBlack Soldier FliesBuffalo’sGrasshoppersAntsSilkwormsCicadasOthers
Market by Application
Processed Whole Insects.Animal and Pet Feed ProductsProcessed Insect PowderInsect Protein Bars and Protein ShakesInsect Baked Products and SnacksInsect ConfectionariesInsect BeveragesOthers
Market by End Use
Human ConsumptionAnimal Nutrition
Market by Geography
North AmericaU.S.CanadaEuropeThe NetherlandsBelgiumFranceU.K.DenmarkFinlandGermanyRest of EuropeAsia-Pacific (APAC)ThailandChinaSouth KoreaVietnamRoAPACRest of WorldLatin AmericaMiddle East and Africa.
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