Press release
Edible Insects Market Size, Growth, In-depth Analysis, Research Report Forecast up to 2027: Aspire Food Group Inc. and Entomo Farms Ltd. are key players.
Edible Insects Market is expected to grow at a CAGR of 17.58% to reach US$3.376 billion by 2027.Key factors contributing to the expansion of the global edible insects market are the growing alternative protein industry, rising investments, and strategic alliances. In addition, insects have a high food conversion rate, which is expected to reduce the burdensome need for animal feed, making edible insects one of the preferable food choices for supplying one's nutritional needs. Therefore, the market expansion and demand for edible insects are driven by their high nutritional value and low feed need. However, the absence of a standardized regulatory framework, and a lack of awareness among consumers, is anticipated to hinder market growth during the forecast period.
According to the analysis, the market is expanding globally due to rising investments in the alternative protein industry and high food conversion in edible insects.
Insect species utilized for human consumption are known as edible insects, with more than 2,000 bug species regarded as edible worldwide. Edible insects are frequently eaten whole or ground up and used in meals and processed foods like spaghetti, protein bars, burger patties, flours, snacks, and energy bars. Therefore, increasing investments in novel and inventive food products will accelerate the market's overall expansion for edible insects. Moreover, the easy availability and accessibility of edible insects and their high protein content will drive the market's growth.
Sample request or complete report can be purchased through the link below:
https://www.knowledge-sourcing.com/report/edible-insects-market
The global market for edible insects is analyzed into many categories based on the product, application, insect type, and geographical region.
In terms of application, the global market has been analyzed into animal feed and human feed. Out of all these products, the animal feed segment is anticipated to hold a significant market share during the analysis period. The animal feed industry is gradually changing due to evolving trends, rising acceptability, and the usage of edible insects as a prominent source of pet food. Furthermore, the edible insect market is the ideal substitute for conventional food because of its long-term view, possible economic advantages, and excellent nutritional profile.
Based on the product, the classification has been done into Whole Insect and Insect Powder. Out of all these products, the insect powder segment is expected to hold a major market share during the analysis period. Powder forms are widely used and easy to access, which drives this category. Furthermore, to improve their flavor, insect powder is combined with pizza, protein bars, burger patties, cheese, and numerous other food items. In addition, the market is seeing increased demand for gluten-free culinary products made with cricket flour. Moreover, based on the type of insect, the global market is classified into Black soldier flies, Mealworms, Grasshoppers, and others.
Geographically, the edible insect market is segmented in North America, South America, Middle East and Africa, Europe, and Asia Pacific. Of all the geographical regions, the European region is expected to have a have significant market share in the global edible insect market. The market for edible insects is gaining popularity due to Europe's expanding need for foods high in protein and its diversity of protein sources. Due to awareness-raising campaigns and the creation of European legislation, the edible insect and insect-based food business has lately seen a surge in the numbers produced and sold.
The key players covered in the global edible insect market study are HaoCheng Mealworms Inc., Thailand Unique, KrecaEnto Food BV, Entomo Farms Ltd., Nordic Insect Economy Ltd., Aspire Food Group Inc., Bugsolutely Ltd., Nutribug Ltd., Chapul Cricket Protein and Ynsect.
This Edible Insects Market has been analyzed into the following segments:
• By Product
o Whole Insect
o Insect Powder
• By Application
o Animal Feed
o Human Feed
• By Insect Type
o Black soldier Fly
o Mealworms
o Grasshoppers
o Others
• By Geography
o North America
• USA
• Canada
• Mexico
o South America
• Brazil
• Argentina
• Others
o Europe
• Germany
• France
• United Kingdom
• Others
o The Middle East and Africa
• Saudi Arabia
• UAE
• Others
o Asia Pacific
• China
• India
• Japan
• South Korea
• Thailand
• Taiwan
• Indonesia
• Others
Related Reports:
• https://www.knowledge-sourcing.com/report/global-edible-oils-market
• https://www.knowledge-sourcing.com/report/global-edible-mushrooms-market
• https://www.knowledge-sourcing.com/report/edible-oils-and-fats-market
• https://www.knowledge-sourcing.com/report/insect-protein-market
• https://www.knowledge-sourcing.com/report/edible-fungi-market
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Knowledge Sourcing Intelligence (KSI) is a market research and consulting firm publishing market research studies across ten industry verticals. KSI has a team of experienced and young professionals who focus on delivering high-quality research services to enterprises, non-government organizations, government agencies, and research institutes and organizations. We publish hundreds of reports annually centering on the niche and latest technologies. In addition, we engage with key decision-makers and stakeholders across the value chain to provide clients with a detailed analysis and bird's-eye view of the market with complete market dynamics, statistical forecasts, competitive analysis, key trends, market drivers, and challenges, and strategic recommendations for making informed decisions. Our success lies in our analysts' efforts to meet client expectations by delivering quality work within the stipulated deadlines.
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