(MENAFN- Ameliorate Digital Consultancy)
The global edible insects market has reached a valuation of US$ 1.5 billion in 2022 and is predicted to surge ahead at a CAGR of 18.5% to end up at US$ 8 billion by the end of 2032.
Eating insects is nothing new for humans; for thousands of years, tribes all over the world have made them a staple food. Growing food security and hunger issues across the world demonstrate the use of insects as food. Numerinsect species contain significant amounts of vital proteins, lipids, and vitamins, as a result of which, insects are often used in feed, food, and drinks.
For more insights into the Market, Request a Sample of this Report:
Key Takeaways from Market Study
The global edible insects market is projected to surge at a CAGR of 18.5% and reach US$ 17.6 billion by 2032. Sales of edible insects increased at 12.2% CAGR from 2017 to 2021. Under product type, whole edible insects dominate the market and are valued at US$ 2.1 billion in 2022. Europe leads the global market with 25.9% share in 2021. Consumption of edible insects is expected to skyrocket at CAGRs of 24.6% and 18%, respectively, in East Asia and North America.
Health Benefits of Edible Insects being Acknowledged by More People”
The eating habits of people will completely shift over the coming years. The world will be able to secure both a healthy way of life and a healthy plwith the help of effective, sustainable solutions. As such, in the near future, there will be huge demand for edible insects such as edible worms, crickets, ants, etc., as food because they are highly protein-rich and environment-friendly alternatives to conventional animal products such as beef and pork.
Additionally, the difference in nutritional content between edible insect protein powder and conventional protein powder is a key trend driving market growth. When it comes to production, for the extraction of protein, edible insect farming needs 8 to 10 times less land, 5 times less water, and emits 5 to 10 times lesser greenhouse gases, which are important factors catching the attention of more people and governments across the world. Escalation of the alternative proteins market will create a space for edible insects, which will drive market growth from 2025 to 2028.
Competitive landscape:
Prominent edible insect providers are Thailand Unique, Kreca Ento-Food BV, Nordic Insect Economy Ltd., Entomo Farms Ltd., Enviro Flight, LLC, ynsect, Exo protein, Protix, Deli Bugs Ltd., and Eat Grub Ltd.
The global edible insects market is primarily characterized by a large number of multinational players controlling a majority of the market share. Producers of edible insects are aiming for global expansion and are bringing in cutting-edge approaches to insect breeding and raising to boost both, productivity and quality. To introduce competitive and flexible insect production and processing technologies, businesses are investing in research & development operations.
In Apr. 2021, Ynsect, a market leader in natural insect proteins, completed its acquisition of Protifarm. With the addition of two new species of mealworms to its offering, the integration led to an increase in Ynsect's mealworm production capacity. In October 2021, in Canada, Aspire Food Group announced the development of a new automated plant for processing crickets. Aspire's new facility would annually produce 9,000 metric tons of edible crickets for human and animal consumption.
Fact.MR has provided detailed information about the price points of key manufacturers of edible insects positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.
Segmentation of Edible Insects Industry Research:
Black Soldier Flies Beetles Caterpillars Hymenoptera Orthoptera True Bugs Others
Whole Frozen Whole Dried Powder
Human Consumption Animal Nutrition
By Distribution Channel :
Online Brand Websites e-Commerce Platforms
Offline Retail Shops Supermarkets/Hypermarkets Specialty Stores Direct Sales
North America Latin America Europe East Asia South Asia & ASEAN Oceania MEA
For in-depth competitive analysis, Buy Now:
Questionnaire answered in the Market outlook Report of Edible Insects include:
What is the key strategy deployed by large players to maximize Edible Insects Market growth? What are the main challenges faced by players in the Edible Insects market Demand? With the advent of technological advancement, how will the Edible Insects market landscape change over the forecast period? What does player bring to the table which is unique as a strategy, and is easy to emulate for new investors in the Edible Insects market size?
Contact:
Sales Office :
11140 Rockville Pike
Suite 400
Rockville, MD 20852
United States
Tel: +1 (628) 251-1583
E-Mail:
Comments
No comment