Edible Insects Market Size to grow by USD 11422.9 million between 2024-2028
According to a research report “ Edible Insects Market” by Application (Human consumption, Animal nutrition, Cosmetics and pharmaceuticals) Product Type (Whole insects, Insect powder, Insect meal) Geography (APAC, North America, Europe, Middle East and Africa, South America)- Global Forecast to 2028 published by Technavio, the market size is estimated to grow by USD 11422.9 million, at a CAGR of 46.02% during the forecast period. In the context of global food insecurity, the Food and Agriculture Organization (FAO) reported that approximately 282 million individuals experienced hunger in 2023, marking a 24 million increase from the previous year. The COVID-19 pandemic further exacerbated food supply issues, leading to a significant rise in the number of people confronting food shortages in 2020. FAO projects that this number could potentially double by 2030. To address food shortages in various regions, there is a growing emphasis on alternative nutritional food sources, such as edible insects. These insects can be efficiently farmed in tropical areas, including Africa, with minimal land usage. The adoption of edible insects as a sustainable food source is a strategic business response to the anticipated food security challenges.
Browse market data tables, figures, and in-depth TOC on “Edible Insects Market” by Application (Human consumption, Animal nutrition, Cosmetics and pharmaceuticals) Product Type (Whole insects, Insect powder, Insect meal) Geography (APAC, North America, Europe, Middle East and Africa, South America) Global Forecast to 2028. Download Free Sample
By Application, the Human consumption segment is projected to dominate the market size in 2024
In the burgeoning edible insects market, whole insects represent a substantial product segment. These insects serve multiple purposes, including the production of diverse food products and nutrient-rich ingredients for human and animal consumption. The nutritional density and sustainability of whole insects, in comparison to conventional protein sources, are driving consumer interest. The resource efficiency of insect farming, which requires fewer inputs than livestock rearing, further bolsters their appeal. Whole insects are also utilized in the manufacture of protein bars, snacks, and pet food, underscoring their versatility and growing market potential.
By Product Type, Whole insects segment is expected to hold the largest market size for the year 2024
The edible insect market encompasses approximately 2,300 insect species, many of which have been a traditional food source for over 7,000 years in various cultures. These insects offer significant nutritional benefits, including high protein levels, fiber, good fats, and essential minerals. For instance, grasshoppers provide protein equivalent to lean ground beef. FAO reports that approximately 2 billion people currently consume insects regularly. Additionally, insect farming requires less land than livestock farming, making it a promising solution to address the anticipated food shortage. According to FAO, around 768 million people experienced hunger in 2020, a number projected to double by 2030. Incorporating insects into our diets could contribute to a more sustainable and nutritious food system.
APAC is forecasted to hold the largest market size by region in 2024
The edible insects market represents a burgeoning business opportunity, driven by growing consumer awareness and interest in sustainable, protein-rich food sources. This sector is experiencing significant growth, with a projected CAGR of X% from 2021 to 2026. Key market drivers include increasing consumer preference for eco-friendly food production methods, rising demand for functional foods, and the insects' high nutritional value. Companies are investing in research and development to expand their product offerings and improve production processes, positioning themselves to capitalize on this emerging trend.
The Edible Insects Market growth and forecasting report also includes detailed analyses of the competitive landscape of the market growth and forecasting and information about 20 market companies, including:
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Research Analysis Overview
The edible insects market is gaining significant attention due to their essential minerals and nutritional benefits. Insects are a rich source of necessary minerals, amino acids, and protein, making them an attractive alternative protein source for both animal feed and human food. The food industries are increasingly exploring insect-based products as a sustainable solution to address resource scarcity, environmental degradation, and the production of greenhouse gases. Consumers are becoming more aware of the nutritional and environmental advantages of edible insects, leading to an increase in demand for insect-based foods at retail outlets. Entotarians, those who consume only insects, are a growing segment of the market. Innovative products like cricket pasta and other insect-based snacks are gaining popularity due to their high protein content and low ecological footprint. The use of edible insects in animal feed is also on the rise, as they offer a more sustainable and efficient source of nutrition compared to traditional animal feeds. The circular economy is a key driver of the edible insects market, as it promotes the efficient use of resources and reduces waste. Overall, the edible insects market is poised for significant growth as consumers and industries seek out sustainable, nutritious, and environmentally-friendly food sources.
Market Research Overview
Title: Edible Insects Market: Thriving on the Unique Nutritional Profile of Whole Insects The Edible Insects Market is gaining momentum as consumers seek alternative protein sources with high nutritional value. Insects, such as mealworms, crickets, grasshoppers, and ants, are rich in essential nutrients and minerals, making them an attractive option for sports persons, those following paleo or ketogenic diets, and entotarians. Six Foods, Nutribug, Gathr Foods, Exo Protein, Crik Nutrition, and Crowbar Protein are leading companies in the market, offering various insect-based products like protein bars, insect powder, and insect meal. Resource scarcity and environmental regulations have fueled the interest in insect farming as an eco-friendly alternative to traditional animal farming. Insects have a smaller ecological footprint and produce fewer greenhouse gases compared to livestock. Insects are also rich in proteins, amino acids, vitamins, and necessary minerals, making them a protein-rich food alternative. However, psychological barriers and ethical concerns may hinder the market growth. Insects are not yet widely accepted as a food source in many cultures. New product development, such as dried insects, insect-based snacks, and insect-infused foods, can help overcome these barriers. Companies like Chirps, Buffalo’s, and Agriprotein Technologies are focusing on innovative product offerings to cater to changing eating habits. Insects like mealworms, crickets, and grasshoppers are commonly used in the market, but there is potential for exploring other insect types like cicadas, ants, and black soldier flies. Insect-based products can be used in various applications, including BBQ, cricket pasta, and protein bars. Despite the challenges, the edible insects market is poised for growth as consumers seek sustainable, nutrient-dense, and ethical food sources.
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