Edible insects market is projected to record a substantial growth rate over the coming years owing to the shifting consumption patterns that are inclining towards protein rich diets and growing awareness regarding various health concerns. Insects are institutionally accepted as food and have been historically consumed in numerous regions across the world, providing sufficient nutritional value to humans.

Insects in general have high protein content as well as exceptional product efficiency as compared to other conventional food groups. The most commonly eaten insects are bees, ants, locusts, beetles, grasshoppers, and caterpillars.

In places like Nigeria, Zimbabwe, and Zambia, edibles insects are most commonly available in open markets, and school cafeterias, thereby forming a profitable business. Up to 50% of dietary protein is obtained from insects, and these insects have a higher market value than other protein sources.

Insects such as crickets, termites, grasshoppers and mealworms are generally rich in zinc, copper, iron, magnesium, calcium, manganese, and phosphorous.

The edible insects market is segmented in terms of product, application, and regional landscape.

With respect to product, the market is bifurcated into grasshoppers, caterpillars, beetles, scale insects & tree bugs, bees; ants; & wasps, and others. Changing consumer perceptions for high vitamins, minerals, and amino acid products is likely to boost caterpillars product segment demand in coming years.

Rapid penetration of bee extracts is manufacturing high protein enriched honey and changin
g dietary needs for low calorie products is further boosting the bees, ants, and wasps segment share.

The other product segment includes larva, house fly, and edible spiders. Share of other segment was 4% in 2019 and is further expected to register continuous growth during the analysis timeframe. Edible spiders are prepared as fried snacks in Cambodia, sold in restaurants as well as local markets.

Based on application, the market is classified into flour, snacks, protein bars, and others. The other products include powders, liquid extracts, and insect protein gummies. Share of other segment was over 11% in 2019 and is likely to show appreciative growth. The powder-based application is driving the segment owing to the easy availability and vast application.

Insect protein gummies are also sold specifically for kids, where insects are grounded up before being mixed into a liquid mixture of fruit flavors, gelatin, corn syrup, sugar, and food coloring. The finished product resembles the insect that they contain.

From a regional frame of reference, the Middle East & Africa edible insects market is set to witness gains owing to increasing cases of livestock diseases along with rapid adoption of insect powders in snacks. People across Africa have been eating insects since a long time, since insects are a healthier alternative to red meat, and could contain up to three times more protein than chicken or beef.

Factors such as changing consumer perceptions on nutrition and rapid adoption of low-calorie protein sources are driving the Latin America (LATAM) edible insects market. Ants, giant water bugs, and larva are some of the edible insects that are served in the region as snacks and appetizers.