United States, Rockville MD, Sept. 12, 2022 (GLOBE NEWSWIRE) -- Fact.MR, a market research and competitive intelligence provider, reveals that the global edible insects market is currently valued at US$ 3.2 billion and is expected to expand at a high CAGR of 18.5% between 2022 and 2032.
Entotarians (one whose diet includes insects but no other meats) is a novel concept that came into existence as a problem solver to feed the estimated 10 billion people that the world will have in some years. The growing number of entotarians has intensified the demand for edible insects. In addition, due to consumer desire for more sustainable and alternative food and feed products, the use of edible insects has been gradually developing. For instance, around 2,000 insect species are already consumed regularly by people and domestic animals across the world owing to their high protein, healthy fat, mineral, and vitamin content.
Fact.MR has analyzed that food manufacturers have seized this chance to enter the market and create a variety of products. The availability of various product types, including protein bars, edible insect snacks, mealworm cookies, cricket pasta, and honey caterpillar croquettes is gaining consumer attention.
Furthermore, the medical and production benefits related to edible insects are promoting their acceptance among both, manufacturers and consumers. For instance, insect farming for protein production requires less land and water, which further leads to fewer greenhouse gases. The nutritional difference between insect protein and conventional protein powder is another significant factor that is boosting the market for edible insects in the protein sector.
Get Sample PDF of This Research Report with Detailed Table of Content:
https://www.factmr.com/connectus/sample?flag=S&rep_id=7691
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 planet with 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.
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.
Speak to Analyst:
https://www.factmr.com/connectus/sample?flag=AE&rep_id=7691
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.
Segmentation of Edible Insects Industry Research
- By Insects Type:
- Black Soldier Flies
- Beetles
- Caterpillars
- Hymenoptera
- Orthoptera
- True Bugs
- Others
- By Product Type :
- Whole
- Ingredients
- By Form :
- Whole Frozen
- Whole Dried
- Powder
- By End Use :
- Human Consumption
- Animal Nutrition
- By Distribution Channel :
- Online
- Brand Websites
- e-Commerce Platforms
- Offline
- Retail Shops
- Supermarkets/Hypermarkets
- Specialty Stores
- Direct Sales
- Online
- By Region :
- North America
- Latin America
- Europe
- East Asia
- South Asia & ASEAN
- Oceania
- MEA
Quick Buy: Edible Insects Market Research Report
https://www.factmr.com/checkout/7691
Market Development
Despite challenging economic conditions, the business environment in the edible insects market reflects a rollup within the sector. With the rising preference for edible insects as a whole, companies are providing the same as a whole in the dried, frozen, and raw forms.
Businesses are also engaging in inorganic operations such as partnerships, acquisitions, and mergers.
- For instance, in the U.S., Ynsect worked with Pure Simple True LLC to release its initial product. This product introduction was a critical step for the business in its pursuit of expansion in the U.S. market.
More Valuable Insights on Offer
Fact.MR, in its new offering, presents an unbiased analysis of the global edible insects market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.
The study reveals essential insights on the basis of insect type (black soldier flies, beetles, caterpillars, hymenoptera, orthoptera, true bugs, others), product type (whole, ingredients), form (whole frozen, whole dried, powder), end use (human consumption, animal nutrition), and distribution channel (online, offline), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania, and the Middle East & Africa).
Check out more related studies published by Fact.MR Research:
Black Soldier Fly Market: According to the latest research by Fact.MR, the black soldier fly market is set to witness substantial growth during the forecast period 2021-2031. Increasing demand for high protein sources in the feed industry coupled with the thriving need for sustainable and cost-effective nutrition to serve the same will offer high growth opportunities for the market.
Fish Oil Market: The global fish oil market is valued at US$ 2.1 Bn, and is expected to witness a significant growth rate at a CAGR of 5.5% to top a value of US$ 3.6 Bn by 2031. According to survey results, approximately 8% of adults and 1.1% of children aged 4 to 17 had taken a fish oil supplement recently. The adoption of fish oil supplements by health-conscious consumers is fuelling market growth.
Fish Meal Market: Latest released industry analysis on the global fish meal market by Fact.MR estimates that the industry accounts for US$ 4.73 Bn at present, and is expected to witness significant growth at a CAGR of 6.3% to reach a valuation of US$ 8.7 Bn by 2031. Over the coming years, demand for organic fish meal is set to increase faster as compared to the conventional form.
Vegetable Proteins Market: With the increase in the vegan population, more and more companies are trying to accommodate to the changing food culture, and are pushing forward more vegetable protein products in the market. One more segment of a vegetable protein that has seen a surge in demand is that of texturized vegetable proteins.
Protein Packed Foods Market: The protein packed foods market has witnessed a paradigm inclination in focus from developed regions to developing countries. Regarding the possibility of static markets in the developed countries, players have started focusing on emerging economies where changing consumer preferences and increasing disposable income were favorable factors at play.
Soy Protein Hydrolysate Market: The global soy protein hydrolysate market is projected to embark on a positive growth trajectory, clocking a CAGR worth 5% across the 2021-2031 forecast period. As of 2021, Fact.MR anticipates sales of soy protein hydrolysates to be valued at over US$ 1 Bn, expected to further reach US$ 1.64 Bn by the end of the aforementioned decade.
Rice Protein Market: Intensified efforts of rice protein manufacturers to introduce novel products and proportionally increasing demand is expected to fuel the market growth, which is expected to present an absolute dollar opportunity of more than US$ 100 Mn during the forecast period.
Dried Egg Market: Latest released report on the global dried egg market by Fact.MR estimates that the market will account for more than US$ 2 Bn in 2021. As per the study, the dried egg market is expected to witness a prominent CAGR of 8.2% to reach a valuation of US$ 4.56 Bn by the year 2031.
Protein Ice Cream Market: Latest research by Fact.MR indicates the protein ice cream market to grow in double digits during 2021 – 2031. There has been a moderate demand in regular ice-cream consumption and besides a new breed of customers fond of nutritive snacks have elevated the demand of protein ice cream over the past few years. Increasing penetration of protein ice cream in café chains, restaurants and hang out places has led to expectation of outstanding market growth avenues throughout the forecast period.
About Us:
Market research and consulting agency with a difference! That’s why 80% of Fortune 1,000 companies trust us for making their most critical decisions. While our experienced consultants employ the latest technologies to extract hard-to-find insights, we believe our USP is the trust clients have on our expertise. Spanning a wide range – from automotive & industry 4.0 to healthcare & retail, our coverage is expansive, but we ensure even the most niche categories are analyzed. Our sales offices in United States and Dublin, Ireland. Headquarter based in Dubai, UAE. Reach out to us with your goals, and we’ll be an able research partner.
Contact:
Mahendra Singh
US Sales Office:
11140 Rockville Pike
Suite 400
Rockville, MD 20852
Email: sales@factmr.com
Tel: +1 (628) 251-158
