Edible Insects Market

Introduction:

Recent years have seen a significant shift in the global food landscape towards sustainability and innovation, and one of the most exciting developments is the rise of the edible insect market.

Long a part of many cultures due to their nutritional value and environmental sustainability, edible insects. obtain important attention worldwide as a viable solution to future food challenges

World With population growth and pressure on traditional livestock farming, this growing market not only meets the need for sustainable protein sources, but also opens doors to new culinary experiences and economic opportunities. Additionally, continued research into insect farming techniques and consumer acceptance will pave the way for wider adoption and inclusion in mainstream foods. Diving deeper into the edible insect market, exploring its benefits, challenges and future opportunities, it becomes clear that insects can play an important role in shaping the future of global food systems, promoting sustainability and meeting nutritional needs. the needs of a growing population.

Market overview: 

Edible Insects Market has emerged as a dynamic segment in the global food industry with promising growth curves and sustainability considerations behind it. The market was valued at USD 873 million in 2023 and is projected to grow to USD 3.06 billion by 2032. This growth will be a strong 18.54% from 2024-2032, showing the growing popularity and acceptance of insects as a viable food source. Firstly, insects are known for their high nutritional value as they contain important proteins, vitamins and minerals. As consumers become healthier and look for sustainable food options, the nutritional value of insects is increasing. In addition, the efficiency of insect farming compared to traditional livestock in terms of land use, water consumption and greenhouse gas emissions is piqued the interest of both environmentally conscious consumers and decision makers. Innovative product development is also shaping the market landscape, as insect-based ingredients find use in a variety of foods, such as protein bars, snacks, and even as haute cuisine ingredients. In addition, continuous research and technological advancements in insect farming techniques increase scalability and cost-effectiveness, which increases market growth.

Edible Insects Market

Size, by Product, - (USD Billion)

Crickets

Mealworms

Black Soldier Fly Larvae

Grasshoppers

Other Products

The Market will Grow

At the CAGR of:

18.54%

The Forecast Market

Size for in USD:

$3.06 billionB

Key players:

1. Entomo Farms
2. Aspire Food Group
3. Chapul
4. Cricket Flours
5. Exo Protein
6. Bitty Foods
7. Crické
8. Protifarm
9. Jimini's
10. Enterra Feed Corporation
11. Ynsect
12. Hargol FoodTech
13. Entomarket
14. Grilo Protein
15. Tiny Farms
16. EnviroFlight
17. NextProtein
18. Entomofarms
19. Bugfoundation
20. All Things Bugs

Edible Insects Market

Share, by end user, (USD Billion)

873 million%

Human Consumption

Animal Feed Industry

Nutraceuticals

Cosmetics and Personal Care

Other End-Users

3.06 billion

Total Market Size

USD (Billion),

18.54%

CAGR

-

Market segmentation:

By Type:

Crickets: Widely used due to their high protein content and mild flavor.

Mealworms: Versatile in culinary applications and high in nutrients.

Black Soldier Fly Larvae: Known for their efficient conversion of organic waste into protein-rich biomass.

Grasshoppers: Consumed in various cultures for their crunchy texture and nutritional value.

Others: Includes insects like ants, beetles, and silkworms, each with unique nutritional profiles and culinary uses.

By Application:

Food Products: Includes protein bars, snacks, baked goods, pasta, and other culinary products.

Animal Feed: Used in pet food and livestock feed due to their high protein and nutrient content.

Pharmaceuticals: Potential applications in nutraceuticals and dietary supplements.

Cosmetics: Extracts and proteins used in skincare products and cosmetics for their beneficial properties.

By End User:

Human Consumption: Increasing adoption in mainstream diets due to nutritional benefits and sustainability.

Animal Feed Industry: Utilized for livestock, poultry, aquaculture, and pet food.

Nutraceuticals: Emerging market for insect-derived ingredients in health supplements.

Cosmetics and Personal Care: Used in products promoting skin health and anti-aging benefits.

Edible Insects Market

Size, by Product, - (USD Billion)

The Market will Grow

At the CAGR of:

18.54%

The Forecast Market

Size for in USD:

$3.06 billionB

Recent Developments:

Sep 08, 2022 Lotte Confectionary Co. Ltd and Aspire Sign MOU for Product Sales, Distribution, R&D, and Opportunities for Expansion

Regional Analysis:

North America: Early adopter of edible insects with a growing market in the United States and Canada.

Europe: Significant market driven by sustainability initiatives and innovative food products.

Asia Pacific: Traditional consumption of insects in countries like Thailand and China, with expanding commercial markets.

Rest of the World: Increasing interest and adoption in Latin America, Africa, and the Middle East due to nutritional benefits and sustainability.

Market growth factors:

Environmental Benefits: The edible insect’s market is driven by the significant environmental advantages of insect farming, as insects require fewer resources and emit fewer greenhouse gases compared to traditional livestock.

Sustainability: Edible insects offer a more sustainable option for both consumers and farmers, especially as concerns about climate change and resource scarcity continue to rise.

Nutritional Value: Edible insects are rich in protein, vitamins, and minerals, making them an important part of a healthy diet. They provide a complete protein source and essential nutrients like iron, zinc, and omega-3 fatty acids.

Health Benefits: The nutritional profile of edible insects appeals to health-conscious customers and those seeking alternative protein sources, which will contribute to the expansion of the market as more people become aware of these benefits.

Economic Viability: Insect farming is more cost-effective than traditional cattle production, offering significant economic advantages. Insects have efficient feed conversion rates, can be raised from organic waste, and have rapid growth and reproduction rates, resulting in lower production costs.

Market trends:

Growing consumer awareness and understanding of the nutritional benefits and environmental sustainability of edible insects. Increasing demand for insect-based foods due to their high protein content and lower environmental impact compared to traditional meat

Introduction of innovative insect-based products like protein bars, snacks, and flours, making them more appealing and accessible to a wider audience. Technological advancements in insect farming and processing, such as automated systems and efficient breeding and processing methods

Improved scalability, cost-effectiveness, and quality of insect-based products due to these technological innovations. Regulatory support from governments and food safety organizations, leading to the establishment of specific regulations and standards for the production and consumption of edible insects

Expansion of the edible insect market and increased mainstream acceptability due to regulatory support and industry investment. Ensuring safety and consistency of insect-derived food items through regulatory measures. Innovation and market expansion driven by investment in the edible insect industry.

Edible Insects Market TO (USD BN)

CAGR OF

18.54%

Edible Insects Market

3.06 billion%

Market Opportunities:

Increasing demand for sustainable protein sources due to environmental awareness and inefficiencies in traditional livestock farming. Incorporating insect-based ingredients in food products like snacks, protein bars, and baked goods to cater to health-conscious consumers

Innovation in product development with insect-based protein powders, pasta, and snacks to reach new consumer markets. Insects rich in protein, vitamins, and minerals aligning with health and wellness trends for nutritious and functional foods

Utilization of insects in animal feed for livestock, aquaculture, and pet food sectors for sustainable and cost-effective feed solutions. Developing regulatory frameworks and approvals for insect-based food products to expand market access globally

Opportunities for alternative protein sources driven by environmental sustainability concerns. Incorporating insect-based ingredients in various food products to meet consumer demand for sustainable and nutritious options

Innovation in product development with insect-based protein powders, pasta, and snacks to diversify product portfolios. Utilization of insects in animal feed for livestock, aquaculture, and pet food sectors to address the need for sustainable feed solutions

Market Restraints:

Cultural and psychological stigma associated with eating insects hinders consumer acceptance. Consumer education and marketing methods are needed to change perceptions and promote insect consumption. 

Investment in creating appealing insect-based food products can help overcome barriers. Regulatory differences between locations make market expansion challenging

Stringent rules and food safety standards complicate the approval process for insect-based products. Standardized farming, processing, and labeling criteria are necessary for ensuring the safety of edible insects

Risk assessments should be conducted to address potential allergens and pollutants. Creating a scalable and efficient edible insect production system is a significant challenge

Technical and logistical challenges need to be overcome for optimizing breeding conditions and ensuring uniform quality. Significant investment and innovation are required to develop

infrastructure for mass insect production and processing.