Global Edible Insects Market Anticipated to Surge at a CAGR of 6.9% Through 2024

A fresh report has been added to the wide database of Market Research Report Search Engine (MRRSE). The research study is titled “Global Market Study on Edible Insects: Consumption of Insects as a Whole to Gain Maximum Traction During 2017 – 2024”which encloses important data about the production, consumption, revenue and market share, merged with information related to the market scope and product overview. The report anticipates that the sector for Edible Insects Market would rise at a positive CAGR during the period 2017-2024.

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With increased demand for animal-based food and to feed the large population, insects are being used as a source of food. Owing to the lower ecological footprint required for the production of insects. Consumption of insects also depends on human health issue and culture. Increased demand for edible insects is also resulting in the development of new technologies used to harvest insects in a more efficient way. Along with harvesting of insects, companies are also focusing on storing edible insects to keep them fresh for a long time. However, there are still some major factors hampering the market growth including safety and health issues, and legislative requirements. Companies are also focusing on developing various edible insect ingredients. Edible insects are also being offered along with the information on their nutrient contents.

According to the report by Persistence Market Research, the global edible insects market is expected to see a significant growth between 2017 and 2024. The global market for edible insects is estimated to reach US$ 722.9 Million revenue. Many countries are also focusing on imposing guidelines on edible insects. Edible insects are also being considered as an important part of food security. Insects are also said to be grown quickly and can be farmed in large quantities in a small area.

Edible Insects as a Whole to Gain Maximum Traction in the Market

Compared to the ingredients, edible insects as a whole is likely to be consumed on a large scale. In Asian countries such as Thailand and China, edible insects are sold as a whole to be consumed by people. Moreover, they are also the part of street food in these countries. With the rising preference for edible insects as a whole, companies are also providing packed edible insects as a whole in dried, BBQ, and raw form. Companies are also moving towards providing food-grade certified insects for consumption. Moreover, activities such as insect harvesting requires very less investment and it is considered as the best way to earn for the poorest section of society. However, companies are finding new ways to offer edible insects with maximum nutrition value. 

Moreover, the demand for edible insects is also growing due to the number of benefits offered by them. The demand for edible insects has also increased owing to the rise in globalization. Edible insects are being produced by adopting wild harvesting, farming and semi-domestication. These methods also require very minimal investment. Asia Pacific is considered to be the largest region accounting for maximum edible species, with increasing population and rising food demand, the dependency on edible insects is also increasing.  The availability of insects also depends on geographical regions, while some of the countries in Asia Pacific are dominated by the particular type of edible insects.

Harvesting, gathering, and processing insects is also becoming an important business in some countries especially for locals as very little investment is required. Various types of insects are considered edible including caterpillar, orthoptera, beetles, true bugs, etc. However, among these, beetles are likely to be consumed on a large scale in the near future.

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In the last section of the report provides details on all the leading companies operating in the market along with the dashboard view. Detailed profile of all the major players is provided including business overview, latest development, trends, product portfolio, short-term and long-term strategies. New product offerings and latest developments and regulations in the global edible insect market is provided in the report.

Research Methodology

All the data including qualitative and quantitative is provided based on the primary and secondary research done. Interviews were conducted with market experts, and the opinions provided by them were cross-checked with the valid data sources. The secondary research including collecting essential information from annual and financial reports, investor’s presentation, and other available documents with important data. The report also provides Porter’s five force analysis and SWOT analysis. This helps in understanding the market and identify growth opportunities. Market attractiveness analysis is also done to provide market attractiveness index. It plays an important role in identifying opportunities for both manufacturers and suppliers. The data is provided in form of CAGR, revenue, and year-on-year growth. 

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