Global Edible Insect Market was valued at USD 191.87 Million in 2021 and is expected to reach USD 789.72 Million by the year 2028, at a CAGR of 22.4%.
Market Overview:
Global Edible Insect Market was valued at USD 191.87 Million in 2021 and is expected to reach USD 789.72 Million by the year 2028, at a CAGR of 22.4%.
The Edible Insect Market represents a novel and sustainable segment within the broader food industry. Edible insects, which include species like crickets, mealworms, grasshoppers, and various larvae, are rich in protein, vitamins, and minerals. They have been consumed in various cultures around the world for centuries. In recent years, the market for edible insects has gained traction due to growing awareness of their nutritional benefits, environmental sustainability, and potential to address global food security challenges.
Edible insects offer an eco-friendly alternative to conventional livestock farming, as they require significantly fewer resources like land, water, and feed. The market is characterized by an expanding range of insect-based products, including protein powders, snacks, and even insect-derived ingredients for food processing. Additionally, the integration of insects into culinary culture and innovative product development has contributed to the market's growth.
Players Covered In Edible Insect Market Are:
HaoCheng Mealworms,Agriprotien Technologies,Chapul,Thailand Unique,Six Foods,Crowbar Protein,Bugsolutely,Crik Nutrition,Gathr Foods,Hexafly,Innova Feed,HiProMine,Protix,Entomo Farms,Envirofloght,Ynsect and other major players.
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Market Driver:
Growing Demand for Sustainable Protein Sources:
A primary driver of the Edible Insect Market is the escalating demand for sustainable protein sources. With the global population expected to reach nearly 10 billion by 2050, conventional livestock farming is facing challenges related to resource scarcity and environmental impact. Edible insects offer a highly sustainable protein source, requiring minimal land, water, and feed compared to traditional livestock. As consumers become more environmentally conscious, there is a growing interest in insect-based products as a viable and eco-friendly alternative.
Market Opportunity:
Product Innovation and Culinary Integration:
An important market opportunity lies in product innovation and the integration of edible insects into culinary culture. This includes the development of new insect-based food products that are appealing in taste, texture, and presentation. Companies can explore creative formulations, such as incorporating insect protein into snacks, baked goods, and protein supplements. Additionally, collaborating with chefs and culinary experts to create gourmet insect-based dishes can help popularize this sustainable protein source and expand its consumer base.
As the Edible Insect Market continues to evolve, companies that invest in research, development, and marketing efforts to promote the nutritional and sustainability benefits of edible insects are likely to lead the way in this emerging industry. Building consumer trust through transparent labelling and effective communication about the advantages of insect-based products will also be crucial for long-term success.
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Segmentation of Edible insects Market:
By Insect Type
By Application
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By Regional Outlook
· North America (U.S., Canada, Mexico)
Key Industry Developments
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Dec 06, 2023
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