Edible Insects Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast 2017 – 2025
Edible Insects Market: Snapshot
The edible insects market has been estimated to reach $9.6 billion during the forecast period from 2020 to 2030. Further, the edible insects market is likely to grow at a CAGR of 28.3% in the foreseeable years.
The edible insects market is likely to grow with the increasing emission of greenhouse gas from the poultry and livestock industries. Furthermore, the low risk of the transmission of zoonotic diseases with edible insects consumption is also predicted to drive novel growth opportunities in the edible insects market in the coming years. The environmental benefits of the edible insects and the high nutritional value of these insects are predicted to fuel novel growth opportunities in the edible insects market in the foreseeable years.
On the flip side, the lack of the standardized regulatory framework and allergies risk associated with the consumption of insects are projected to restrict the growth opportunities in the edible insects market. Moreover, ethical and psychological barriers to consuming insects as the food items have also been expected to limit the novel growth avenues in the edible insects market during the forecast period.
Emerging economies around the world are predicted to create novel growth avenues for the players in the edible insects market. However, lack of awareness related to the insects consumption is likely to create challenges to the edible insects market growth.
Edible Insects Market: Overview
Edible insects have seen a huge transformation from being recognized as famine food to a food that is now being included in the regular diet. Currently, insects are not only consumed during the dearth of traditional food products but are now a regular part of the food culture of numerous nations. Edible insects are also being used as animal feed apart from being consumed as human food as well. These insects are used as animal feed as they have ample amount of amino acids and necessary minerals in them.
The global market for edible insects could be segmented in terms of the different types of insects and application. The global market could also be segmented in terms of geography. Such in depth and precise segmentation of the global edible insects market offered by the report helps in grasping the all-round growth prospects and the future outlook of the different segments of the market and thus, helping the potential buyers to make informed decisions while investing in the market.
The report on edible insects market provides the analysis and forecast on regional as well as global level. It offers historical data of the year 2016 along with the anticipated data of 2017, and a forecast data up to year 2024 in terms of revenue as well as volume. The report also provide vital driving and impeding factors for the development of the global edible insects market and their impact on each region over the duration of the given forecast period. The report also offers the value chain analysis of the market with a list of key players. The research report on the global market for edible insects provides vital growth prospects and key trends and opportunities that may come up in the market over the course of the given forecast period. The research report is the result of in-depth and extensive primary as well as secondary research methodologies backed by crucial market insights offered by the industry professionals.
Edible Insects Market: Trends and Opportunities
The overall growth of the global market for edible insects can be attributed to the growing demand for food products with high value of protein among the middle class customers and increasing population across the globe. Insecurities related to feeds and food and the high process of animal protein are some of the other factors that are expected to augment the overall development of the global edible insects market over the course of the given forecast period. Consumption of insects or entomophagy is seen to have a positive impact on the health of the consumers and thus have also uplifted the overall demand for the market.
Edible Insects Market: Market Potential
In a recent development, insects can be bought in Finland as food. The Finnish food safety authority Evira have published a 44 page guideline for the safe consumption of insects. The overall growth of the global edible insects market is burgeoning with a group of trade lobby already in place for the Finnish products. Finnish company EntoCube has been at the forefront of this new wave of cricket-producing food companies and has been busy cultivating and marketing edible insects for the last three years.
Edible Insects Market: Geographical Segmentation
From a geographical standpoint, the global market for edible insects can be segmented into key regions such as Asia Pacific, Europe, North America, and Rest of the World. Asia Pacific is expected to be the dominant region in the market with significant contribution from countries such as China, India, Sri Lanka, Bangladesh, and Malaysia.
Edible Insects Market: Key Players
HaoCheng Mealworm Inc., EnviroFlight, Kreaca V.O.F. LLC, AgriProtein Technologies, and Reese Finer Foods Inc. are some of the key companies in the global edible insects market.
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