Worldwide Edible Insects Market Size Key Players – HaoCheng Mealworms, Agriprotein Technologies, Kreca, Chapul LLC, Six foods, Insectitos and Nutribug Ltd

The ‘Edible Insects market’ study composed by Market Study Report, LLC, exhibits a comprehensive analysis of the growth trends present in the global business scenario. The study further presents conclusive data referring to the commercialization aspects, industry size and profit estimation of the market. The study also illustrates the competitive standing of leading manufacturers in the projection timeline whilst incorporating their diverse portfolio and regional expansion endeavors.

Edible Insects Market may surpass USD 710 million by 2024; according to a new research report.

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The global edible insects market is estimated to gain significant impetus over the ensuing years owing to the massive health benefits of entomophagy paired with rise in the number of insect-based food alternatives.

The global edible insects market can anticipate a major push from growing health concerns due to prevailing dietary regimes. While entomophagy has always been associated with the Southeast Asian cultures, it has started gaining popularity in the United States and United Kingdom as well. Back in 2013, the United Nations stated that nearly two billion people around the world consume insects and urged other cultures to start consuming insects as well. The high popularity of entomophagy can be attributed to the high nutritional content in insects, which comprises more protein, compared to most traditional meat products. Not only that, insects are a great source of fibers, minerals, vitamins and probiotic bacteria, thereby helping in improving gut health and reducing inflammation. The wide spectrum of health benefits linked with insects, make it evident that the global edible insects market would witness a lucrative phase over the coming years.

Increasing consumption of bugs in both human and animal diet may witness significant growth in global edible insects Market. Growing consciousness related to various health concerns and change in consumption pattern for protein rich diets may drive the Market. Edible insects are source of fat which plays a vital role in plant ecosystem and also mitigates cardiovascular disease risks, thus driving industry growth.

Skilled labors and knowledge pertaining to breeding of insects may enhance the production cost, thus impacting edible insects market price trend. The products should be cultivated properly to achieve better results and health benefits. Regulatory authorities such as FDA has confirmed edible bugs consumption as harmless and act as accepted protein source for both human and animals. Out of 2,000 species which are cultivated 90 are added in food supplements in the U.S. and are accepted as sustainable food source.

Grasshoppers, locusts & crickets based edible insects Market may witness significant growth and may surpass USD 150 million by 2024. Grasshoppers are rich in vitamin & protein, which are consumed as snacks products and used as alternate protein source in poultry, resulting into increased product demand. Cricket powder are utilized in farming techniques as they are cost efficient, requires low maintenance and are hazard free, thus stimulating industry growth.

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Beetles based edible insects market demand may surpass USD 190 million by 2024. Beetle larvae aids in cleaning up dead plant matter and plays a vital role in biodegradation process. Substitution of traditional source of protein from beef and chicken may fuel the market demand over the foreseeable period.

Edible insects from bars application may surpass USD 150 million by the end of predictable timeframe. Grasshopper and crickets are used as snack bars owing to its rich protein and amino acid content. Increasing consumption of bars by sports person and athletes owing to gluten free content will drive the market demand.

Asia Pacific, led by Vietnam, China, and Thailand edible insects Market for flour applications should witness gains at above 43.5% by 2024. Insect farming has grown into a substantial business activity in Thailand owing to its favourable market demand. Grasshoppers and cricket flours are used in dietary products and are precooked by street salesperson. In China bugs like beetles, ants and grasshoppers are used in medical applications and for raising as pets, thus driving market demand.

Europe edible insects Market led by, Netherlands, France and UK may exceed USD 60 million by the end of foreseeable timeframe. According to EFSA, these insects can be used in farming techniques and do not pose any biological hazard. Manufacturing companies in Netherlands uses mealworms, beetles and locust for processing snack bars which are rich source of vitamins and proteins.

Global edible insects market share is highly fragmented and competitive with key players including HaoCheng Mealworms, Agriprotein Technologies, Kreca, Chapul LLC, Six foods, Insectitos and Nutribug Ltd. Companies are investing in R&D and new product development to expand their market demand.

However, the biggest hurdle the market would face is people’s disgust for bugs, but, with brands and retail stores reintroducing them in an appetizing way, growth prospects might increase. For instance, Austin-based EXO Protein farm has launched a range of whole roasted crickets and protein bars in delicious flavors, which will soon be available at selected grocery stores. Such developments will generate a higher demand for cricket protein and whole crickets, thereby boosting the edible insects market.

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