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Global Edible Insects Market to Grow at a CAGR of 18.77% During 2022-2027, Propelled by the Increasing Geriatric Population and the Rising Incidences of Medical Disorders

Published on Sep 06, 2022

The latest report by IMARC, titled “Edible Insects Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027”, finds that the global edible insects market is expected to grow at a CAGR of 18.77% during the forecast period (2022-2027). Edible insects refer to some specific species of insects that are fit to be consumed by humans as they provide ample amounts of protein, vitamins, fiber, zinc, iron, amino acid, and omega 3, and 6 fatty acids. Some of the common edible insects include beetles, bees, locusts, ants, grasshoppers, crickets, termites, beetles, mealworms, wasps, cockroaches, caterpillars, and stinkbugs. They are dried, roasted, and powdered into high protein, low-calorie flour and energy snacks and bars, making them suitable for human consumption. They are also used in the production of animal feed due to their greater food conversion rate and lesser production cost. Edible insects minimize greenhouse gas emissions and enhance the prevention and management of chronic diseases. In recent years, edible insects have gained traction due to their extensive utilization in the food and beverage (F&B) industry and agriculture sector to enrich crops with vital nutrients.

We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of the associated industries. These observations will be integrated into the report.

Global Edible Insects Market Trends:

One of the primary factors driving the market is the increasing geriatric population and the rising incidences of chronic medical disorders. Additionally, the increasing health consciousness among the masses, along with the changing dietary patterns, is creating a positive market outlook. Other than this, the high cost of plant-based and animal protein is providing a positive market outlook. Besides this, the rising farming of insects on account of minimum investment, coupled with a decrease in seafood consumption due to various restrictions imposed on fishing by numerous nations, is strengthening the market growth. Furthermore, these insects are resistant to disease transfer as compared to the other animals, thus escalating their product demand. In line with this, the presence of micronutrients, such as fatty acid, iron, zinc, and magnesium, are catalyzing the market growth. Other than these factors, the key players are relying on innovative methods to increase their customer base and sell their products by offering free samples, exciting offers, and attractive packaging. Moreover, extensive research and development (R&D) activities to capitalize on emerging trends in the food and beverage (F&B) industry are creating lucrative growth opportunities for the leading players operating in the industry.

Market Summary:

  • Based on the type, the market has been divided into beetles, cricket, caterpillars, grasshoppers, bees, ants, and others.
  • On the basis of the product, the market has been categorized into whole insects, insect powder, insect meal, and insect oil.
  • Based on the application, the market has been segmented into food and beverage, bakery, pet food, and others.
  • Region-wise, the market has been classified into North America (the United States and Canada), Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others), and Middle East and Africa.
  • The competitive landscape of the market has also been analyzed, with some of the key players being All Things Bugs LLC, Bugsolutely Ltd., Chapul LLC, DeliBugs, Eat Grub Ltd., Entomo Farms, EnviroFlight LLC, EXO Protein (Aspire Food Group), Fluker’s Cricket Farm Inc., Jr Unique Foods Ltd., Nutribug Ltd., and Thailand Unique.

 

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