According to IMARC Group’s latest report, titled “Edible Insects Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” the global edible insects market is expected to exhibit a CAGR of 18.77% during 2022-2027.
Edible insects are specific species of insects that are safe for human consumption. They comprise various varieties of crickets, grasshoppers, bugs, beetles, dragonfly nymphs, caterpillars, larvae, ants, agave worms, aphids, bagworms, bamboo worms, bees, centipedes, cicadas, cochineals, earthworms, and emperor moths. They are a rich source of iron, protein, carotene, iron, zinc, fiber, and vitamins B1, B2, B6, C, D, E, and K. They can be fried, boiled, sauteed, and roasted to enhance the taste and consumed with various condiments, lemon, garlic, salts, and dips. They provide essential amino acids, omega 3 and 6 fatty acids, and antioxidants, which are necessary for fighting inflammation, enhancing immunity, and improving skin quality. They also cure various skin conditions and reduce acne and hyperpigmentation.
Besides this, they provide numerous health benefits, such as preventing heart diseases and cancer and lowering blood sugar levels. They are consumed as a substitute for meat as edible insects offer adequate protein and energy to perform essential body functions. They are also utilized as animal feed due to their nutritional properties. As edible insects release minimum greenhouse gases and cause no environmental contamination, the demand for edible insects is growing worldwide.
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At present, the increasing demand for edible insects due to the rising consumption of exotic recipes among the masses around the world represents one of the key factors driving the market. Besides this, the growing health consciousness among the masses to prevent the occurrence of chronic diseases and lead a healthy lifestyle is positively influencing the market. In addition, the changing dietary patterns of individuals, along with the increasing consumption of protein-rich food among gym enthusiasts and athletes to gain energy, is currently propelling the growth of the market. Apart from this, there is a rise in the number of online and offline distribution channels and companies selling edible insects worldwide. This, coupled with the increasing online shopping activities of individuals and the burgeoning e-commerce sector, is contributing to the growth of the market. Additionally, the growing number of restaurants and hotels serving various dishes prepared with edible insects to their customers is offering a favorable market outlook. Moreover, key market players are investing in research and development (R&D) activities to enhance the production of edible insects and introduce infused products. Furthermore, the increasing utilization of edible insects in fisheries and poultries as nutritional animal feed is strengthening the growth of the market.
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List of Key Companies Covered in this Market Report:
- All Things Bugs LLC
- Bugsolutely Ltd.
- Chapul LLC
- Eat Grub Ltd.
- Entomo Farms
- EnviroFlight LLC
- EXO Protein (Aspire Food Group)
- Fluker’s Cricket Farm Inc.
- Jr Unique Foods Ltd
- Nutribug Ltd.
- Thailand Unique.
The report has segmented the market into the following categories
Breakup by Type:
Breakup by Product:
- Whole Insects
- Insect Powder
- Insect Meal
- Insect Oil
Breakup by Application:
- Food and Beverage
- Pet Food
Breakup by Geography:
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
- Latin America (Brazil, Mexico)
- Middle East & Africa
Key highlights of the report:
- Market Performance (2016-2021)
- Market Outlook (2022- 2027)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
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