NEW YORK, NY, May 19, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Edible Insects Market - Global and Regional Industry Trends, Competitive Intelligence, Analysis of Data, Statistical Data, and Forecast 2022-2028” in its research database.
“According to the latest research study, the demand of global Edible Insects Market size & share was witnessed USD 0.51billion in 2021and it is expected to surpass around USD 1.8 billion Mark, by 2028, at a compound annual growth rate (CAGR) of about 18.2% during the forecast period 2022 to 2028.”
What are Edible Insects? How big is the Edible Insects Industry?
Report Overview:
Edible insects are insect species that are consumed by humans. Edible insects provide high-quality vitamins, protein, and amino acids that humans require. These insects have a greater food conversion rate and a lower production cost. Furthermore, they produce fewer greenhouse gases and ammonia than conventional farm animals.
Organic waste can also be used to grow edible insects. As a result, insects are a significant source of conventional protein production for direct human consumption.
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Our Free Sample Report Consists of the Following:
- Introduction, Overview, and in-depth industry analysis are all included in the 2022 updated report.
- The COVID-19 Pandemic Outbreak Impact Analysis is included in the package
- About 221+ Pages Research Report (Including Recent Research)
- Provide detailed chapter-by-chapter guidance on Request
- Updated Regional Analysis with Graphical Representation of Size, Share, and Trends for the Year 2022
- Includes Tables and figures have been updated
- The most recent version of the report includes the Top Market Players, their Business Strategies, Sales Volume, and Revenue Analysis
- Facts and Factors research methodology
(Please note that the sample of this report has been modified to include the COVID-19 impact study prior to delivery.)
Report Scope
| Report Attribute | Details |
| Market Size in 2021 | USD 1.8 Billion |
| Projected Market Size in 2028 | USD 1.8 Billion |
| CAGR Growth Rate | 18.2% CAGR |
| Base Year | 2021 |
| Forecast Years | 2022-2028 |
| Key Market Players | Thailand Unique, Crowbar Protein, Agriprotein, Edible Inc., Cricket Flours LLC, Chapul Cricket Protein, Crik Nutrition, Kreca Ento-Food BV, HaoCheng Mealworms, Inc., Six Foods, Nutribug Ltd., GreenKnow, Bugolutely, Ecobars Pty Ltd., LaViewEye, Fluker’s Cricket Farm Inc., Crickers, Insectitos, Bitty Foods, Bensbugs, BugEater Foods, Exo, Enviroflight, Protifarm, Gathr Foods, Entomo Farms., and Others |
| Key Segment | By Type of Product, Type of Insect, Application, and Region |
| Major Regions Covered | North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
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Global Edible Insects Market: Dynamics
Growth Factors:
- Rising demand and awareness to propel market growth
With increased awareness of the potential benefits of edible insect products and increasing demand for naturally fortified ingredients, industry players are creating innovative methods to sell their products by offering discounts, free samples, and attractive packaging, which can be considered a key driver of the global edible insects market during the forecast period.
Restraints:
- Stringent regulations and negative attitudes toward insects in some countries
In countries such as India, cultural beliefs and negative consumer perceptions can stifle market growth. Insufficient distribution channels and the lack of a legal framework governing the use of insects are expected to limit market growth during the forecast period.
Browse the full “Edible Insects Market By Type of Product (Insect Oil, Insect Meal, Insect Powder, and Whole Insect), By Type of Insect (Mealworms, Flies, Black Soldiers, Crickets, and Others), By Application (Food & Beverage and Animal Feed), and By Region - Global and Regional Industry Trends, Competitive Intelligence, Analysis of Data, Statistical Data, and Forecast 2022-2028” Report at https://www.fnfresearch.com/edible-insects-market
Edible Insects Market: COVID-19 Impact Analysis
The COVID-19 pandemic caused various hurdles to the food industry, notably meat producers around the world. The meat processing sector has encountered numerous obstacles, including the threat of halting production, distribution, mass transit, and other supply chain operations such as a shortage of labour, and product development delays.
The planned change in private capital investment and public finance plans further impeded the food sector's development. These variables are projected to have an impact on the meat-processing business, driving up demand for alternative protein sources such as edible insects.
Edible Insects Market: Segmentation Analysis
The global edible insects market is segmented on the basis of type of product, type of insect, application, and region.
Type of Product Segment Analysis
- By type of product, the market is divided into insect oil, insect meal, insect powder, and whole insect.
- During the forecast period, the insect powder segment is projected to expand at the fastest CAGR.
Type of Insect Segment Analysis
- By type of insect, the market is divided into mealworms, flies, black soldiers, crickets, and others.
- Crickets are expected to hold the largest market share in the edible insects market.
Application Segment Analysis
- By application, the market is divided into food & beverage and animal feed.
- During the forecast period, the food & beverage segment is projected to grow at the fastest CAGR.
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Competitive Landscape
Some of the main competitors dominating the global edible insects market include -
- Thailand Unique
- Crowbar Protein
- Agriprotein
- Edible Inc.
- Cricket Flours LLC
- Chapul Cricket Protein
- Crik Nutrition
- Kreca Ento-Food BV
- HaoCheng Mealworms Inc.
- Six Foods
- Nutribug Ltd.
- GreenKnow
- Bugolutely
- Ecobars Pty Ltd.
- LaViewEye
- Fluker’s Cricket Farm Inc.
- Crickers
- Insectitos
- Bitty Foods
- Bensbugs
- BugEater Foods
- Exo
- Enviroflight
- Protifarm
- Gathr Foods
- Entomo Farms
Key Insights from Primary Research:
- As per the analysis shared by our research analyst, the Edible Insects is expected to grow at a CAGR of 18.2% during the forecast period.
- In Terms Of Revenue, the Edible Insects market size was worth at around US$ 1.8 Billion in 2021 and is likely to reach US$ 1.8 billion, by 2028.
- Based on type of product, the insect powder segment is projected to expand at the highest CAGR over the forecast period.
- Based on type of insect, the crickets will dominate the edible insect industry. High nutritive content, ease of cultivation & processing, adoption into recipes & food products, and growing popularity for cricket-based food products such as protein bars, protein powders, & snacks are driving crickets' rise.
- On the basis of region, the North America holds a 38% share and is likely to be governed Edible Insects industry.
Key questions answered in this report:
- What is the market size and growth rate forecast for Edible Insects industry?
- What are the main driving factors propelling the Edible Insects Market forward?
- What are the leading companies in the Edible Insects Industry?
- What segments does the Edible Insects Market cover?
- How can I receive a free copy of the Edible Insects Market sample report and company profiles?
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Regional Dominance:
- North America likely to dominate the global market
During the forecast period, North America is expected to grow at the highest CAGR for the global edible insects market. The increasing adoption of environmentally friendly protein-rich food products is driving up demand for edible insect foods in this region.
Furthermore, increasing acquaintance with insects as food, reducing food neophobia, and changing attitudes toward insects overall and as food are the primary drivers of the edible insects market in North America.
Recent Developments
- March 2020: Protix BV, an insect farming manufacturer that nurtures black soldier fly larvae and stages them into additives such as lipids and proteins, announced an undisclosed amount of funding from Rabo Corporate to improve its insect processing plant in the Netherlands.
- May 2020: Trendlines Agrifood Fund Pte. Ltd. has made a second investment in Insectta Pte. Ltd., a Singapore-based start-up that extracts valuable biomaterials from insects (Fund of The Trendlines Group Ltd.). This advancement is predicted to boost the value and variety of products derived from food waste valorization.
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The global edible insects market is segmented as follows:
By Type of Product
- Insect Oil
- Insect Meal
- Insect Powder
- Whole Insect
By Type of Insect
- Mealworms
- Flies
- Black Soldiers
- Crickets
- Others
By Application
- Food & Beverage
- Animal Feed
By Region
- North America
- U.S.
- Canada
- Rest of North America
- Europe
- France
- UK
- Spain
- Germany
- Italy
- Rest of Europe
- Asia Pacific
- China
- Japan
- India
- South Korea
- Rest of Asia Pacific
- The Middle East & Africa
- Saudi Arabia
- South Africa
- Rest of the Middle East & Africa
- Latin America
- Brazil
- Argentina
- Rest of Latin America
To know an additional revised 2022 list of market players, request a sample report: https://www.fnfresearch.com/sample/edible-insects-market
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