The Edible Insects Market is expected to reach $16.39 billion by 2032


Posted April 1, 2024 by richasinha

The Edible Insects Market is expected to reach $16.39 billion by 2032, at a CAGR of 29% during the forecast period of 2023–2032.
 
The Edible Insects Market is expected to reach $16.39 billion by 2032, at a CAGR of 29% during the forecast period of 2023–2032. The growth of this market is driven by the growing greenhouse gas emissions from the livestock and poultry industries, the high nutritional value of insects, the environmental benefits of edible insects, the rising demand for insect protein in the animal feed industry, and the low risk of transmitting zoonotic diseases with the consumption of edible insects.
However, the lack of a standardized regulatory framework, psychological & ethical barriers to consuming insects as food, and the risk of allergies due to insect consumption is expected to restrain the growth of this market. Emerging economies are expected to hold significant growth opportunities for the players operating in this market. However, a lack of awareness regarding the benefits of insect consumption is expected to remain a major challenge for the growth of this market.
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The edible insects market is segmented based on product (whole insect, insect powder, insect meal, and insect oil), insect type (crickets, mealworms, black soldier flies, buffalo worms, grasshoppers, ants, silkworms, cicadas, and other edible insects), application (food & beverages and feed), end use (human consumption and animal nutrition), and geography. This study also evaluates industry competitors and analyzes the market at the regional and country levels.

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Based on product, the edible insects market is segmented into whole insects, insect powder, insect meal, and insect oil. In 2023, the whole insects segment is expected to account for the largest share of the edible insects market. The easy availability of whole insects, their lower cost compared to processed insects, the lack of insect processing facilities in some parts of the world, and the growing demand for insects in the animal feed industry are the key factors driving the growth of this segment.
Based on insect type, the edible insects market is segmented into crickets, mealworms, black soldier flies, buffalo worms, grasshoppers, ants, silkworms, cicadas, and other edible insects. The black soldier flies segment is expected to register the highest growth rate in the edible insects market during the forecast period of 2023 to 2032. The rapid growth of this segment is attributed to the growing aquaculture industry, rising demand for alternative proteins from the animal feed industry due to the rising prices of soy meal, increasing government support for the use of insect meal in livestock feed, and the increasing number of investments by key players in the black soldier fly industry.
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Based on application, the edible insects market is segmented into food & beverages and feed. In 2023, the food & beverages segment is expected to account for the larger share of the global edible insects market. Moreover, this segment is further slated to register the highest CAGR during the forecast period of 2023–2032. This segment's large market share and rapid growth are driven by the growing food shortage worldwide, increasing consumption of processed whole insects as food, and the rising demand for high-quality alternative protein and amino acid sources among end users.
Based on end use, the edible insects market is segmented into human consumption and animal nutrition. The human consumption segment is projected to register the highest growth rate in the edible insects market during the forecast period from 2023 to 2032. The rapid growth of this segment is attributed to the rising demand for insect-based foods to feed the growing global population, the high nutritional value of insects in human nutrition, and the growing demand for environment-friendly alternative sources of protein.
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North America: Fastest-growing Regional Market
Based on geography, the edible insects market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global edible insects market. Asia-Pacific’s major market share is attributed to factors such as the well-established commercial farming markets for edible insects in the region, especially in Thailand, the wide availability of various insects coupled with substantial production, the positive attitude towards insects as food & feed, the absence of regulatory barriers for using insects as food & feed, and the presence of key market players in the region.
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Key Players
The key players operating in the edible insects market include Ÿnsect (SAS) (France), Protix B.V. (Netherlands), Innovafeed SAS (France), EnviroFlight, LLC (U.S.), Nutrition Technologies Group (Singapore), Entomo Farms (Canada), Hargol FoodTech (Israel), Aspire Food Group (U.S.), All Things Bugs LLC (U.S.), Beta Hatch (U.S.), EntoCube OY (Finland), Armstrong Crickets Georgia (U.S.), Global Bugs Asia Co., Ltd (Thailand), JR Unique Foods (Thailand), BIOFLYTECH S.L. (Spain), TEBRIO (Spain), nextProtein SA (France), Enorm Biofactory A/S (Denmark), Hexafly (Ireland), HiProMine S.A. (Poland), SFly Comgraf SAS (France), and Protenga Pte. Ltd. (Singapore).
Scope of the Report:
Edible Insects Market Assessment, by Product
• Whole Insects
• Insect Powder
• Insect Meal
• Insect Oil
Edible Insects Market Assessment, by Insect Type
• Crickets
• Black Soldier Flies
• Mealworms
• Buffalo Worms
• Grasshoppers
• Ants
• Silkworms
• Cicadas
• Other Edible Insects
Edible Insects Market Assessment, by Application
• Food & Beverages
o Processed Whole Insect
o Processed Insect Powder
o Protein Bars & Shakes
o Baked Products & Snacks
o Insect Confectioneries
o Insect Beverages
o Other Food & Beverage Applications
• Feed
o Animal Feed
o Aquaculture Feed
o Pet Food
Edible Insects Market Assessment, by End Use
• Human Consumption
• Animal Nutrition
Edible Insects Market Assessment, by Geography
• North America
o U.S.
o Canada
• Europe
o Netherlands
o Belgium
o France
o Denmark
o Finland
o Germany
o Rest of Europe
• Asia-Pacific (APAC)
o Thailand
o China
o South Korea
o Vietnam
o Rest of APAC (RoAPAC)
• Latin America
• Middle East & Africa
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Issued By meticulous research
Country India
Categories Food
Tags edible insects market , edible food , edible meals
Last Updated April 1, 2024