Global Edible Insects Market size was valued at US$ XX Bn. in 2019 and the total revenue is expected to grow at 23.2 % through 2020 to 2026, reaching nearly US$ XX Bn.
Global Edible Insects Market Overview:
Edible Insects are insect species that are used for consumption as food by people. Edible insects are gathered from the wild or are cultivated in a controlled fashion to improve the nutrient quality and quantity of the insects. Food made from Edible Insects has a food safety profile that is different from other sources of animal food. Edible Insects have significant potential as an alternative whole, protein, or lipid source that is used on a large scale as a complete meal or in the Pharmaceutical Industry to manufacture low-cost nutrient-based food products. Rising health concerns and affordability of Insect based food products have resulted in the growth in the Edible Insects Market.
Global Edible Insects Market Dynamics:
An increase in the population and restrictions on availability and cost of food products have resulted in a rise in the demand for Edible Insects Food. The presence of high nutrient content and affordability has resulted in the consumption of Edible Insects Meal on large scale by people from the lower and middle-income groups, especially in the western and southern region of Asia-Pacific. This densely populated area holds about 20% of the global population. The presence of such a big market with existing demand has resulted in making Edible Insects a profitable venture.
Edible Insect is used on large scale as animal food products. Poultry animals are fed with Edible Insects to improve their weight and muscles. According to the Journal of Animal and Feed Sciences, the nutrient-rich content of Edible Insects has resulted in increased consumption of animal food either on a direct basis or mixing it with other food products to improve nutritional contents.
An increase in trends of consuming edible and nature-based food products has resulted in increased consumption of Edible Insects as a food product in western countries. Also, the use of Supplementary food products made from edible insects is observing a rapid growth in sales.
The shift in the perception of looking at insect-based food from famine food to nutrient-rich food has resulted in tremendous growth in the Global Edible Insects Market.
Restraints:
The absence of a proper distribution network in this sector is the major restraining factor here.
Global Edible Insects Market Segment Analysis:
The Global Edible Insects Market is segmented on the basis of
By Product Type, this consists of different types of products available in the market that are made from Edible Insects. It is observed that health supplement powder made from edible insects dominates the overall consumption. Different products made from Edible Insects like Oil and Bars are consumed on large scale by people. By market size, Insect Meal is the most demanded product in the Edible Insects Market and generates 25% of the total revenue.
By Insect Type, this consists of different insects used for making different products. Insects that are used on large scale in the Edible Insects Market are Crickets, Beetles, Caterpillars, Grasshoppers, Bees, Tree Bugs, and Others.
By Application, It is observed that Edible Insects are consumed on a large scale as a meal and in the form of other food products. This has resulted in making the Food & Beverages Industry the major consumer of Edible Insects. Edible Insects are used on large scale as food for Poultry Industry. Nearly 30% of the Global Poultry Industry uses edible insects as a primary food product for poultry animals. Different products ranging from cosmetics for hydrating and nourishing skin to medicines for muscular pain, Edible Insects Market is growing.
Global Edible Insects Market
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The above pie chart represents different types of Edible Insects-based products present in the market. With more than 30% of the market share, Health Supplement powder made from Edible Insects is dominating the overall consumption. Various factors like increasing health concerns demand nutrient-rich food products, and affordability plays a crucial role in increased consumption of edible insect-based powder.
Insect Meal comes in the second position. Meal made by using Edible Insects is consumed on a large scale by people from the lower and medium economic background. Insect Meal provides all nutrient demand of body at an affordable price resulting in its consumption by a large number of people on regular basis. From famine food to regular meals, demand for insect meals is rising.
Insect Oil comes in the third position. The use of Insects oil ranges from cooking to cosmetics. Insect Oil is used for cooking by nearly 14% of people living near the Gobi Desert in Asia. Cosmetics made from Insect Oil are used to resolve issues related to itching and rashes on the skin. Insect Bar comes in the Fourth position. This consists of energy bars that are made from edible insects along with different nutrients. People who follow rigorous diet plans and do heavy exercise consume insect bars to fulfill the extra nutrient demand of the body. Insect Paste comes in the fifth position.
Insect paste has applications ranging from cosmetics to mosquito repellants. Regions like Africa where Malaria accounts for more than half a million lives every year use Insect Paste on large scale to keep mosquitoes away. Different industries use Edible Insects as per need.
Global Edible Insects Market Regional Insights
Global Edible Insects Market 1
The above image shows the presence of the Global Edible Insects Market. Preference for animal-based food products at low cost has resulted in the emergence of a new market. Improvement in preservation techniques increased the consumable lifespan of food. All these factors combined with a fast-paced lifestyle gave non-stop demand for Edible Insects Products. For this sector, Asia-Pacific is the biggest market. The health-concerned population and the emergence of the protein-based food products market have created a need for Edible Insects Products.
North America comes in second place. Here, Edible Insect products are consumed as food, animal feed, and cosmetics on large scale. Improvement in preservation techniques and the presence of advanced processing techniques have made North America the second-biggest market for Edible Insects. The Condition of the European market is changing rapidly with the increase in consumption of Edible Insects Products. From Food products, people in this region have started using health supplements and cosmetics made from Edible Insects. South America has big potential, but the growth rate is very slow in this region. The Middle East and Africa’s market has shown very little growth in the Global Edible Insects Market.
The objective of the report is to present a comprehensive analysis of the global Edible Insects market to the stakeholders in the industry. The past and current status of the industry with the forecasted market size and trends are presented in the report with the analysis of complicated data in simple language. The report covers all the aspects of the industry with a dedicated study of key players that include market leaders, followers, and new entrants.
PORTER, SVOR, PESTEL analysis with the potential impact of micro-economic factors of the market have been presented in the report. External as well as internal factors that are supposed to affect the business positively or negatively have been analyzed, which will give a clear futuristic view of the industry to the decision-makers.
The report also helps in understanding the global Edible Insects market dynamics, structure by analyzing the market segments and Project the global Edible Insects market size. Clear representation of competitive analysis of key players by product, price, financial position, product portfolio, growth strategies, and regional presence in the global Edible Insects market make the report investor’s guide.
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Global Edible Insects Market Scope: Inquire before buying
Global Edible Insects Market 2
Global Edible Insects Market, by Region
• North America
• Europe
• Asia Pacific
• Middle East and Africa
• South America
Global Edible Insects Market Key Players
• HaoCheng Mealworm Inc.
• AgriProtein Technologies
• Kreca V.O.F. LLC
• EnviroFlight
• Reese Finer Foods Inc.
• Protifarm Holdings NV
• Entomo Farms
• Ynsect SAS
• Deli Bugs Ltd.
• Hargol Foodtech
• Aspire Food Group
• All Things Bugs LLC
• Tiny Farms
• Global Bugs Asia Co., Ltd.
• Beta Hatch Inc.
• EntoCube Ltd.
• Armstrong Cricket Farm Georgia
• Protenga PTE Ltd.
• InnovaFeed
• Protix B.V.
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