The Global Edible Insects Market is anticipated to be driven by growing demand due to health benefits and cost effectiveness of edible insects, according to our research report
The global edible insects market is segmented into different applications, viz as a whole and as an ingredient. Insects consumed as a whole are further segmented into raw, fried and powdered, while insects consumed as ingredients are further segmented into uses in drinks, snacks and confectionaries.
The global market of edible insects accounted for USD 35 Million in 2016 and further the market is predicted to register a modest CAGR over the forecast period i.e. 2016-2024. Europe market of edible insects is the most opportunistic and revenue generating market for players, owing to a predominantly non vegetarian population, and rising awareness of the fact that insect consumption has the minimum disease transfer risk compared to consumption of other animals.
Rising need for animal feed production: Major Boost
Edible insects find extensive usage as animal feed. Feed production is expected to increase by 70% by 2050, translating into a major spurt in the demand for edible insects. Less harm to the environment during insect cultivation in terms of low greenhouse gas emissions further adds to their popularity, augmented by a rising inclination towards sustainable food. High nutritional value of these insects further boosts their demand. Popularity of edible insects is rising especially among the fitness conscious, as they serve as cost effective alternatives to chemically processed food supplements.
However, lack of awareness and preconceived notions regarding insect consumption hamper the growth of the edible insects market in several regions.
“Global Edible Insects Market Outlook 2024” contains detailed overview of the global edible insects market in terms of market segmentation by insect type, application and end user.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, market challenges, risk analysis, market attractiveness, BPS (Base Point Scale) analysis, Porter’s five force model and SWOT analysis.
Global Edible Insects Market report also includes competitive outlook of some of the major players of the global edible insects market which includes profiling of companies like Kreca, EnviroFlight, AgriProtein Technologies, Reese Finer Foods Inc., Deli Bugs Ltd., Proti-Farm Exo Inc., Entomo Farms, Eat Grub Ltd., Entotech, Nordic Insect Economy Ltd., HaoCheng Mealworms Inc., Thailand Unique, etc. The company profiles include business strategy, geographical revenue distribution, major information of the companies which encompasses business outlook, products, services and industries catered, financial analysis of the company and recent developments. Overall, the report represents comprehensive synopsis on the global edible insects market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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