Dublin, June 15, 2022 (GLOBE NEWSWIRE) -- The "Edible Insects Market by Product (Whole Insect, Insect Powder, Insect Meal, Insect Oil), Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Animal Feed, Protein Bar & Shakes, Bakery, Confectionery, Beverages), and Geography - Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Edible Insects Market is expected to reach $9.60 billion by 2030, at a CAGR of 28.3% during the forecast period 2022-2030. In terms of volume, the Edible Insects Market is expected to reach 3,139,035.10 tonnes by 2030, at a CAGR of 31.1% during the forecast period 2022-2030.
The growth of the edible insects market is driven by the increasing greenhouse gas emissions from the livestock and poultry industries, the high nutritional value of insects, the environmental benefits of consuming edible insects, the rising demand for insect-derived protein in the animal feed industry, and the minimal risk of transmitting zoonotic diseases with the consumption of edible insects.
Furthermore, emerging economies are expected to provide 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.
Based on product, in 2022, the whole insects segment is expected to account for the largest share of the edible insects market. The easy availability and lower cost of whole insects compared to processed insects is one of the major factors driving the demand in this market. Furthermore, the lack of insect processing facilities in some regions of the world and the growing demand for insects in the animal feed industry drive the growth of the whole insects segment.
Based on insect type, the black soldier flies segment is estimated to register rapid growth during the forecast period 2020-2030. The rapid growth of this segment is attributed to the increasing aquaculture industry, the rising demand for alternative proteins from the animal feed industry due to the rising prices of soy meal, growing government support for the use of insect meal in livestock feed, and the increasing number of investments by key players in the black soldier flies industry.
Based on application, in 2022, the food & beverages segment is expected to account for the largest share of the edible insects market. The growth of this segment is driven by the rising food shortage worldwide, the 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 human consumption segment is estimated to witness rapid growth during the forecast period 2020-2030. The 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.
Based on geography, in 2022, Asia-Pacific is expected to account for the largest share of the edible insects market. The market growth is attributed to factors such as well-established commercial farming markets for edible insects, especially in Thailand, the wide availability of various insects coupled with huge production, the positive attitude towards insects as food & feed, absence of regulatory barriers to using insects as food & feed, and the presence of key market players in the region.
Key Players
The key players operating in the edible insects market include
- Ynsect (SAS) (France)
- Protix B.V. (Netherlands)
- Enterra Feed Corporation (Canada)
- InnovaFeed (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)
- Cricket Lab Limited (U.K.)
- BioflyTech (Spain)
- TEBRIO (Spain)
- nextProtein (France)
- Hexafly (Ireland)
- HiProMine S.A. (Poland)
- Protenga Pte. Ltd. (Singapore).
Key Questions Answered in the Report
- Which are the high-growth market segments in terms of product, insect type, application, end use, and region/country?
- What was the historical market size for edible insects across the globe?
- What are the market forecasts and estimates for 2022-2030?
- What are the major drivers, restraints, opportunities, and challenges for the edible insects market?
- Who are the major players in the edible insects market?
- How is the competitive landscape, and who are the market leaders in the edible insects market?
- What are the recent developments in the edible insects market?
- What are the geographical trends and high-growth regions/countries?
- Who are the local emerging players in the edible insects market, and how do they compete with the global players?
Key Topics Covered:
1. Introduction
2. Research Methodology
3. Executive Summary
3.1. Introduction
3.2. Segment Analysis
3.3. Regional Analysis
3.4. Key Players
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Growing Greenhouse Gas Emissions from the Livestock and Poultry Industries
4.2.2. High Nutritional Value of Insects
4.2.3. Environmental Benefits of Edible Insects Consumption
4.2.4. Rising Demand for Insect Protein in the Animal Feed Industry
4.2.5. Low Risk of Transmitting Zoonotic Diseases with the Consumption of Edible Insects
4.3. Restraints
4.3.1. Lack of a Standardized Regulatory Framework
4.3.2. Psychological and Ethical Barriers to Consuming Insects as Food
4.3.3. Risk of Allergies Due to Insect Consumption
4.4. Opportunities
4.4.1. Emerging Economies
4.5. Challenges
4.5.1. Lack of Awareness
4.6. Pricing Analysis
4.6.1. Introduction
4.6.2. Whole Insects
4.6.3. Insect Powder
4.6.4. Insect Meal
4.6.5. Insect Oil
4.7. Key Edible Insect Companies and Their Production Capacities (Tons/Year)
4.8. The Impact of Covid-19 On the Edible Insects Market
4.9. Regulatory Analysis
4.9.1. North America
4.9.1.1. U.S.
4.9.1.2. Canada
4.9.2. Europe
4.9.3. Asia-Pacific
4.9.4. Rest of the World
4.10. Edible Insects Market: Venture Investments/Funding Scenario
5. Global Edible Insects Market, by Product
5.1. Introduction
5.2. Whole Insects
5.3. Insect Powder
5.4. Insect Meal
5.5. Insect Oil
6. Global Edible Insects Market, by Insect Type
6.1. Introduction
6.2. Crickets
6.3. Black Soldier Flies
6.4. Mealworms
6.5. Buffalo Worms
6.6. Grasshoppers
6.7. Ants
6.8. Silkworms
6.9. Cicadas
6.10. Other Edible Insects
7. Global Edible Insects Market, by Application
7.1. Introduction
7.2. Food & Beverages
7.2.1. Processed Whole Insects
7.2.2. Processed Insect Powder
7.2.3. Protein Bars & Protein Shakes
7.2.4. Baked Products & Snacks
7.2.5. Insect Confectioneries
7.2.6. Insect Beverages
7.2.7. Other Food & Beverage Applications
7.3. Feed
7.3.1. Animal Feed
7.3.2. Aquaculture Feed
7.3.3. Pet Food
8. Global Edible Insects Market, by End Use
8.1. Introduction
8.2. Human Consumption
8.3. Animal Nutrition
9. Edible Insects Market, by Geography
9.1. Introduction
10. Competitive Landscape
10.1. Introduction
10.2. Competitive Benchmarking
11. Company Profiles
11.1. Business Overview
11.2. Product Portfolio
11.3. Strategic Developments
For more information about this report visit https://www.researchandmarkets.com/r/cdi0r3
