Edible Insects Market Poised for Robust Growth, Forecasted to Expand at 25.2% CAGR from 2024-30
MarkNtel Advisors has released its latest report highlighting strong growth in The Global Edible Insects Market size is estimated to grow at a CAGR of around 25.2% during the forecast period, i.e., 2024-30.
Report Coverage
This report offers a comprehensive analysis of the Edible Insects Market, providing valuable insights across historical trends, current dynamics, and future forecasts.
- Base Year: 2023
- Forecast Years: 2024-30
- Historical Years: 2019-22
Edible Insects Market Overview
The market's growth is driven primarily by the burgeoning requirements for high-protein & low-fat foods worldwide. Besides, the easy availability, high nutritional value, and low-cost production methods associated with edible insects further drive the global market. The increasing number of insect farming practices due to low costs and the rising instances of livestock diseases are other crucial aspects leading to the mounting adoption of insect-based food products globally. Furthermore, massive R&D investments by the leading players in the industry are coming up with innovative products projecting profitable opportunities for the market over the forthcoming years.
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Edible Insects Market Segmentation Outlook
The Edible Insects is categorized into notable segments, which help in understanding the structure, dynamics, and opportunities within the market. These segments are typically based on:
By Insect Type
- Crickets
- Mealworms
- Black Soldier Flies
- Grasshoppers
- Ants
- Buffalo’s Worm
- Silkworms
- Cicadas
- Beetles
- Caterpillar
- Others
By Product Type
- Insect Powder
- Protein Bars
- Whole Insects
By End User
- Human Consumption
- Animal Feed
- Agriculture
By Region
- North America
- South America
- Europe
- The Middle East & Africa
- Asia-Pacific
Edible Insects Market Driver
Rising Awareness about Various Health Benefits of Edible Insects – One of the main factors propelling the Global Edible Insects Market is growing consumer awareness of the numerous health advantages of edible insects. Insects are becoming more popular as alternative protein sources because people are becoming more aware of traditional livestock husbandry's negative effects on the environment and sustainability. In addition, edible insects are a nutrient-dense food choice since they are high in protein, good fats, vitamins, and minerals.
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Top Edible Insects Market Brands & Their Strategic Market Positioning
MarkNtel Advisors Research identifies AgriProtein Technologies, Aspire Food Group, All Things Bugs, Beta Hatch, Bioflytech, DeliBugs Ltd., Eat Grub Ltd., Thailand Unique, Nordic Insect Economy, Kreca Ento - Food BV, Entomo Farms Ltd., Protifarm NV, EnviroFlight LLC, EntoCube, Ltd., Entomo Farms, Haocheng Mealworm Inc., Hargol FoodTech, Ÿnsect SAS, Others as key players shaping the market landscape.
Edible Insects Market News
- 2023: Ÿnsect, a leading player in insect production, created a genotyping chip named Axiom® YNS_Mol1, a world-first for insect breeding and a noteworthy step in the evolution of the selection of larvae lines to produce insect-based proteins.
- 2022: By investing USD 250 million and boosting the production facility of black soldier flies farming in Decatur, Illinois, InnovaFeed, a French company with support from ADM and Cargill, expanded its presence in the edible insect industry.
- 2022: All Things Bugs LLC announced that it had become the first in the US to receive a US patent for its unique production method regarding the use of insects in sustainable food production.
Key Questions Answered in the Report
- What is the market size (value & volume) along with the current & future trends, growth factors & challenges, etc.?
- How the industry has been evolving, and which segments would dominate the market during the forecast period?
- What are the key opportunity areas that companies foresee in the coming years 2030?
- Who are the key players in the market, and what are their competitive strengths?
- What are the key growth drivers & challenges associated with the market, and how would they impact the market through the forecast period?
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