Meticulous Research® Forecasts Edible Insect Market to Reach $9.60 Billion by 2030, Unveiling a 28.3% CAGR

[Redding, California, 23-02-2024] Meticulous Research® , a leading global market research firm, has released a groundbreaking report titled "Edible Insect Market: Analysis, Trends, and Forecasts."

Insects, constituting 80% of all animal species on earth, offer a wealth of nutritional benefits. Their variable nutritional values, rich in protein, vitamins, and essential minerals like calcium, iron, and zinc, present a compelling solution to combat hunger, malnutrition, and food shortages. With nearly 690 million people undernourished globally and millions suffering from acute and chronic undernutrition, edible insects emerge as a potent source of sustainable nutrition.

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The latest publication by Meticulous Research® projects the Edible Insect Market to soar at a remarkable CAGR of 28.3%, culminating in a valuation of $9.60 billion by 2030.

Market Dynamics

In developing nations grappling with food security challenges, edible insects offer a viable dietary alternative. They not only address nutritional deficiencies but also mitigate environmental strain associated with conventional protein sources. With the global population surging, and changing dietary preferences impacting resource allocation, edible insects emerge as a sustainable, nutrient-rich solution.

Regional Insights

While Asia-Pacific currently leads the Edible Insect Market, North America is poised to witness the highest growth rate. The burgeoning demand for environmentally friendly, protein-rich foods is driving the North American market, fueled by shifting consumer attitudes and heightened awareness about insect-based nutrition.

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Segment Analysis

Product Segmentation: Whole insects dominate the market presently, owing to their widespread availability and affordability. However, insect powder is anticipated to witness exponential growth, driven by increasing health consciousness and the demand for convenient, nutritious food options.

Insect Type: Crickets, with their nutritional value and ease of farming, lead the market, but black soldier flies are projected to witness rapid growth. Their suitability for animal feed and burgeoning demand from the aquaculture industry fuel this expansion.

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Application and End Use: Food & beverages dominate the market, driven by growing food shortages and increasing consumption of processed insect-based foods. Human consumption is witnessing rapid growth, buoyed by the demand for sustainable protein sources.

Key Players

Industry leaders such as Ÿnsect (SAS), Protix B.V., Enterra Feed Corporation, and InnovaFeed are driving innovation and market growth, paving the way for a sustainable, nutritious future.

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