Edible Insects Market by Product (Whole Insect, Insect Powder, Insect Meal, Insect Oil) Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Animal Feed, Protein Bar and Shakes, Bakery, Confectionery, Beverages) - Global Forecast to 2027
The research report titled “Edible Insects Market by Product (Whole Insect, Insect Powder, Insect Meal, Insect Oil) Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Animal Feed, Protein Bar and Shakes, Bakery, Confectionery, Beverages) - Global Forecast to 2027” provides an in-depth analysis of the edible insects market across the globe emphasizing on the current market trends, market size, recent developments, and providing the forecast till 2027. In terms of value, the edible insects market is expected to grow at a CAGR of 26.5% from 2020 to 2027 to reach $4.63 billion by 2027. Moreover, in terms of volume, the edible insects market is expected to grow at a CAGR of 28.5% from 2020 to 2027 to reach 13,98,862.6 tonnes by 2027.
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and challenges. This market is characterized by more diversified operations, which offer shelf-stable and healthy products, mainly due to the growing emission of greenhouse gases from livestock and poultry, high nutritional value of insects, low environmental impact over their entire life cycle, and low risk of transmitting zoonotic diseases, indicating the strong growth potential of the edible insects market. Emerging economies provide significant opportunities for manufacturers in the edible insects market. However, non-standardized regulatory framework, psychological and ethical barriers to insects as food, and allergies due to insect consumption are expected to restrain the future growth of this market marginally.
Based on product, the insect powder segment is estimated to grow at the fastest CAGR during the forecast period (In terms of value). The fast growth of this segment is mainly attributed to its ease of handling, transportation, storage, and application. The increasing inclination towards fitness and wellness, rising number of health clubs and fitness centers preferring and serving insect powder, the emergence of several start-ups producing insect protein bars and shakes, and busy lifestyles that demand highly nutritious and convenient foods are also some of the major drivers for the growth of this segment.
Based on insect type, the crickets segment is expected to dominate the edible insects market during the forecast period of 2020-2027 (In terms of value). Also, this segment is expected to register the highest CAGR during the forecast period owing to the high nutritional value, easy farming, and easy processing of crickets; their incorporation into various food recipes and products, and the increasing demand for cricket-based products, such as protein powders, protein bars, and snacks.
Based on application, the processed whole insects segment is expected to command the largest share of the edible insects market during the forecast period (In terms of value). The large share of this segment is mainly attributed to the huge availability of whole insects, growing consumption of insect-based foods, the high nutritional value of insects, and the growing demand for environment-friendly, alternative protein sources.
Based on end use, the human consumption segment is slated to grow with the fastest CAGR during the forecast period (In terms of value). This growth is mainly due to the increasing demand for protein-rich food to feed the exponentially growing global population, the high nutritional value of insects in human nutrition, and the growing demand for environment-friendly alternative sources of protein.
An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights about the five geographic regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The North American region is expected to register the fastest CAGR during the forecast period (In terms of value). The fastest growth of this region is mainly attributed to the growing demand for environment-friendly high-protein diets, aversion to highly processed foods, increasing demand for insect-based foods, presence of a large number of insect-based food product manufacturers, and growing concerns about meat production.
The key players operating in the edible insects market are Protifarm Holding NV, EntomoFarms, Haocheng Mealworms Inc., Agriprotein (Insect Technology Group Holdings U.K. Ltd.), Ynsect SAS, Deli Bugs Ltd., Hargol FoodTech, Aspire Food Group, All Things Bugs, LLC, Tiny Farms, Global Bugs Asia Co., Ltd., Beta Hatch Inc., EntoCube Ltd., Rocky Mountain Micro Ranch, Armstrong Cricket Farm Georgia, Cowboy Cricket Farms, ENTOBEL HOLDING PTE. LTD, Entofood Sdn Bhd, EnviroFlight Corporation, SFly Comgraf SAS, Hexafly, F4F SpA, Protix B.V., Enterra Corporation, InnovaFeed, Nutrition Technologies Group, Protenga Pte Ltd., and nextProtein S.A.S., among many other local and regional players.
Key Questions Answered in the Report-
- What is the current value of revenue generated by the edible insects market?
- At what rate is the demand for edible insects market is projected to grow over the next 5-7 years?
- What is the historical market size and growth rate for the edible insects market?
- What are the major factors impacting the growth of this market at the regional and country levels?
- What are the major opportunities for existing players and new entrants in the market?
- What impact does the current COVID-19 pandemic have on the edible insects market?
- Which segments in terms of the product, insect type, application, and end use create major traction for the vendors in this market?
- What are the key geographical trends in this market? Which countries are expected to offer significant growth opportunities for the vendors operating in the edible insects market?
- Who are the major players in the edible insects market? What are their specific product offerings in this market space?
Scope of the Report:
Edible Insects Market, by Product
- Whole Insects
- Insect Powder
- Insect Meal
- Insect Oil
Edible Insects Market, by Insect Type
- Black Soldier Flies
- Buffalo Worms
Edible Insects Market, by Application
- Processed Whole Insects.
- Animal and Pet Feed Products
- Processed Insect Powder
- Insect Protein Bars and Protein Shakes
- Insect Baked Products and Snacks
- Insect Confectionaries
- Insect Beverages
Edible Insects Market, by End Use
- Human Consumption
- Animal Nutrition
Edible Insects Market, by Geography
- Asia-Pacific (APAC)
o South Korea
o Rest of Europe
- North America
- Latin America
- Middle East and Africa