Dublin, Sept. 05, 2024 (GLOBE NEWSWIRE) -- The "Global Edible Insects Market Size, Share, Forecast, & Trends Analysis by Product, Insect Type, Application, and Geography - Forecast to 2033" report has been added to ResearchAndMarkets.com's offering.
Edible insects market is projected to reach $17.9 billion by 2033, at a CAGR of 28.6% during the forecast period of 2024 to 2033, while in terms of volume, the market is expected to reach 4.7 million tons by 2033, at a CAGR of 36.3% from 2024 to 2033.
The report provides an in-depth analysis of the edible insects market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecasts till 2033. The growth of the edible insects market is mainly driven by growing greenhouse gas emissions from the livestock & poultry industries, the high nutritional value of edible 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. In addition, business expansion in emerging & developed economies is expected to generate growth opportunities for the players operating in this market.
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 restrain the growth of this market. Furthermore, the lack of awareness regarding the benefits of insect consumption and limitations in scaling up production are major challenges impacting market growth.
The edible insects market is segmented by product (whole insects, insect powder, insect meal, insect oil); insect type (crickets, black soldier flies, mealworms, buffalo worms, grasshoppers, ants, silkworms, cicadas, and other edible insects); application (food & beverage and feed & pet food); end use (human consumption and animal nutrition); and geography. The study also evaluates industry competitors and analyzes the country-level markets.
Based on product, the edible insects market is segmented into whole insects, insect powder, insect meal, and insect oil. In terms of value, in 2024, the whole insects segment is expected to account for the largest share of 46.3% of the edible insects market. The large market share of this segment is attributed to the high adoption of whole insects due to their easy availability and lower cost compared to processed insects, the absence of insect processing facilities in some parts of the world, and the high demand for whole insects in the animal feed industry. Moreover, in terms of volume, in 2024, the insect meal segment is expected to account for the largest share of 54.7% of the edible insects market.
Based on insect type, the edible insects market is segmented into crickets, black soldier flies, mealworms, buffalo worms, grasshoppers, ants, silkworms, cicadas, and other edible insects. In 2024, the crickets segment is expected to account for the largest share of 53.3% of the edible insects market. This segment's large share is attributed to the high nutritional value of crickets, the ease of farming and processing them, growing acceptance among consumers, their increasing use in various food recipes and products, and the rising demand for cricket-based products such as protein powders, protein bars, and snacks.
Based on the application, the edible insects market is mainly segmented into food & beverage and feed & pet food. In 2024, the food & beverages segment is expected to account for the larger share of the edible insects market. This segment is projected to reach USD 8.63 billion by 2033. However, the feed and pet food segment is expected to register the fastest CAGR of 30.7% during the forecast period. The high growth of this segment is attributed to the growing demand for meat products and the subsequent increase in the demand for protein-rich animal feed, rising soy meal prices, growing adoption of black soldier flies and mealworms in aquaculture feed, and government approval for the use of insects as a feed ingredient.
Based on end use, the edible insects market is segmented into human consumption and animal nutrition. In 2024, the human consumption segment is expected to account for a larger share of 55.4% of the edible insects market. This segment's large market share is attributed to the rising demand for insect-based foods to feed the ever-growing global population, the high nutritional value of insects in human nutrition, and the increasing demand for environmentally friendly alternative sources of protein.
In 2024, Asia-Pacific is expected to account for the largest share of 34.8% of the edible insects market. This market is projected to reach USD 5.72 billion by 2033 during the forecast period. Asia-Pacific's significant market share is attributed to the well-established commercial farming market for edible insects, especially in Thailand, the wide availability of various insects coupled with huge production, the positive attitude towards insects as food & feed, the absence of regulatory barriers to using insects as food & feed, and the presence of key market players in the region.
Key Questions Answered in the Report:
- What is the current revenue generated by edible insects globally?
- At what rate is the edible insects demand projected to grow for the next 7 years?
- What are the historical market sizes and growth rates of 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?
- Which segments in terms of product, insect type, application, and end-use are expected to create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers 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?
- What are the recent strategic developments in the edible insects market? What are the impacts of these strategic developments on the market?
Factors Affecting Market Growth
- Growing Greenhouse Gas Emissions from the Livestock & Poultry Industries Driving the Need for Alternative Protein Sources
- High Nutritional Value Driving the Consumption of Edible Insects
- Environmental Benefits of Edible Insects Supporting Adoption
- Rising Demand for Insect Protein in the Animal Feed Industry Driving Market Growth
- Low Risk of Transmitting Zoonotic Diseases Supporting the Consumption of Edible Insects
- Lack of A Standardized Regulatory Framework Restraining Market Growth
- Psychological & Ethical Barriers to Consuming Insects As Food Restricting the Adoption of Edible Insects
- Risk of Allergies Due to Insect Consumption Hampering Market Growth
- Business Expansion in Emerging & Developed Economies Expected to Offer Growth Opportunities for Market Players
- Lack of Awareness Regarding the Benefits of Insect Consumption Impacting Market Growth
- Limitations in Scaling Up Production Expected to Remain A Major Challenge for Market Players
Pricing Analysis
- Overview
- Whole Insects
- Insect Powder
- Insect Meal
- Insect Oil
Regulatory Analysis
- North America
- U.S.
- Canada
- Europe
- Asia-Pacific
- Rest of the World
Porter's Five Forces Analysis
Company Profiles (Company Overview, Financial Overview, Product Portfolio, and Strategic Developments)
- Protix B.V.
- Ynsect (SAS)
- InnovaFeed SAS
- EnviroFlight, Llc
- Nutrition Technologies Group
- Bioflytech S.L.
- Entomo Farms
- Aspire Food Group
- Global Bugs Asia Co., Ltd.
- Entobel Holding Pte. Ltd.
- Entofood Sdn Bhd
- SFly Comgraf SAS
- Hexafly
- F4F SpA
- Protenga Pte Ltd.
- NextProtein
- Enorm Biofactory A/S
- Hargol FoodTech
- All Things Bugs, Llc
- Beta Hatch
- Armstrong Crickets Georgia
- Jr Unique Foods Ltd.
- TEBRIO
- Hipromine S.A.
Emerging Startups
- Protanica Co. Ltd.
- Pro-Meal (Promeal Animal Feeds)
- CricketOne Asia
- Eat Crawlers
- BugEra
- Entoprotech Ltd
- Insectta
- Entosystem Inc.
- INSECTIFii India Pvt. Ltd.
- Agroloop Hungary Kft.
- Soldier Fly Technologies, Inc.
- Life Origin
- Insectum ApS
- Keetup and Co.
- Loopworm Pvt. Ltd.
- Ento Proteins Private Limited
- UltraNutri
- Insectika Biotech Private Limited (IBPL)
- Freshrooms Lifesciences Private Limited
- Kovai BSF
- Exocycle
- Bioforte Biotechnology (Shenzhen) Co., Ltd.
- Guangzhou Unique Biotechnology Co., Ltd
- Symton Inc.
- Beta Bugs Ltd.
- Snas Bio-Tech
- Farminsect Gmbh
- Hermetia Baruth GmbH
- Volare Solutions
- Nasekomo
- Mutatec
- Nextalim SAS
- Insectum UAB
- Entogreen - Ingredient Odyssey, S.A.
- Cyns
- Illucens Mexico Entobiorrefineria
- Proticycle
- Circa Biotech
- CricketOne
- Flylab Tech Co., Ltd
- Invertapro As
- Prime Insects
- Bulgarian Insect Company
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 & Beverage
- Feed & Pet Food
Edible Insects Market Assessment - by End Use
- Human Consumption
- Animal Nutrition
For more information about this report visit https://www.researchandmarkets.com/r/rju4y2
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