Edible Insects Key Market Players, Statistics, Gross Margin, and Forecast 2030
Edible Insects Market Overview
The Global Edible Insects Market 2022 is poised to witness
substantial growth over the review period. Edible Insects Market is projected
to register a CAGR of 28.36 % and reach a value of USD 9.68 billion by 2030
Market Highlights
In the food and feed industry, increased market interest in
edible insects is increasing due to amino acids and essential minerals, which
have many health benefits associated with intake. Edible insects are rich in
calories, fiber, energy, minerals, vitamins, and fatty acids, which have
demonstrated a limitless tendency for the products of edible insects. In
addition, the increased preference for natural ingredients in food &
beverage products has fuelled the global consumer demand for edible insects.
In addition , the increasing effect of the use of chemical
fertilisers and other harmful substances in the crop sector on the environment
has raised demand for organic food due to the low environmental impact on
nutrition and safe living, which is expected to expand the global market for
edible insects over the review period. Edible insects used in food and beverage
items are also comparatively cheaper, which has boosted the food & beverage
industry's appetite for edible insects.
In addition, they are used in the food and beverage industry
and, owing to large concentrations of amino acids & minerals, have a
possible use in animal feed. The restricted supply of edible insects and the
lack of regulatory regulation, however, are likely to hamper the development of
the edible insect market over the review period.
Competitive Dashboard
Some of the global edible
insects key market players are Thailand Unique (Thiland), Nordic Insect
Economy Ltd. (Finland), Haocheng Mealworms Inc. (China), Chapul Inc. (U.S.),
Nutribug Ltd. (U.K), Bugsolutely Ltd. (Thiland), Eap Group, and Sarl (France).
Segmental Analysis
The demand for edible insects is segmented by form,
including caterpillars, bees, ants, and wasps; beetles; scale insects;
grasshoppers; crickets; and mealworm locusts, among others. Beetles, led by
crickets, have the highest market share of both. A rich source of protein, and
a healthier alternative to chicken and beef. In addition, widespread use of
edible cricket and mealworm in snack bars, protein bars, and energy bar
preparation is driving the development of this segment's edible insects.
The demand for edible insects is segmented, on the basis of
the use, into food & drinks, bakery products, savoury treats, animal feed,
and others. Due to the high protein, vitamin, potassium, zinc, calcium, and
amino acid content, the increased use of edible insects in savoury snacks
dominates this category. In addition, the increased demand for convenience
foods and savoury snacks is adding steam to the development of the global
edible insects market overview over the review period.
On the basis of the distribution channel, the industry is
segmented into store-based and non-store-based sales systems. However, based on
the one-stop shopping experience, the store-based sales channel dominates the
market.
Regional Overview
The global demand for edible insects is divided into North
America, Europe, Asia Pacific, and the rest of the globe (RoW).
Asia-Pacific leads the demand for edible insects, followed
by the rest of the world. Thailand is the leading user of edible insects due to
growing knowledge about the benefits of eating edible insect items.
Furthermore, rising knowledge of insect farming is seen as the main driving
force in this field.
In addition, rising demand for natural ingredients in
convenient food items is expected to fuel the growth of the edible
insects market during the evaluation timeframe in Asia-Pacific countries
such as China, India, and Japan.
In addition, in food preparation, Brazil and South Africa
are witnessing higher consumption of edible cricket & beetle insects, which
is projected to fuel the global demand for edible insects. High consumption in
Africa and increased usage in countries such as the UAE are driving the growth
of the market in the region.
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