Meticulous Research® Unveils Projected Growth: Europe Edible Insects Market to Surge, Reaching $2.98 Billion by 2030

[Redding, California, 26-02-2024] - Meticulous Research®, a renowned global market research firm, has announced the release of its latest research report titled "Europe Edible Insects Market by Product, Insect Type, Application-Forecast to 2030." This comprehensive study forecasts a substantial growth trajectory, with the Europe Edible Insects Market projected to soar to $2.98 billion by 2030, boasting a remarkable Compound Annual Growth Rate (CAGR) of 29.0% from 2023.

Navigating Market Dynamics:

The Europe Edible Insects Market is propelled by a multitude of factors, including a burgeoning preference for alternative protein sources, recognition of the high nutritional value of insects, environmental sustainability benefits, and a surging demand for insect-based fish feed. These factors converge to drive robust growth within the market, presenting significant opportunities for stakeholders.

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Challenges and Opportunities:

Despite promising growth prospects, the market is not without its challenges. Factors such as the high production costs of insects and stringent regulatory frameworks pose notable obstacles to market expansion. Additionally, consumer acceptance of entomophagy remains a key challenge, underscoring the importance of targeted awareness campaigns and education initiatives.

Competitive Landscape:

The Europe Edible Insects Market exhibits a moderately competitive landscape, characterized by the presence of numerous global, regional, and local players. Key industry participants include Ÿnsect (SAS), Protix B.V., InnovaFeed SAS, EnviroFlight, LLC, Hargol FoodTech, and Aspire Food Group, among others. These entities play a pivotal role in shaping the market dynamics through strategic initiatives and product innovations.

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Segmental Analysis:

The report provides a detailed segmentation of the Europe Edible Insects Market based on product, insect type, application, end use, and country-specific insights. Key segments include:

Product: Insect Powder, Insect Meal, Insect Oil

Insect Type: Crickets, Black Soldier Fly, Mealworms, Ants, Grasshoppers

Application: Animal Feed, Pet Food, Protein Bar & Shakes, Bakery, Confectionery

End Use: Human Consumption, Animal Nutrition

Strategic Insights:

Among the product segments, Insect Powder is poised to exhibit the highest CAGR during the forecast period, driven by increasing consumer focus on fitness & wellness and the burgeoning demand for protein-rich food products. The recent approval by the European Union for the sale of house crickets and larvae insects for human consumption is anticipated to further augment demand for whole insects in the region.

The Black Soldier Fly (BSF) segment is projected to register a robust CAGR owing to escalating government support for insect meal as livestock feed and substantial venture investments in the European BSF industry. Black soldier flies' ability to convert waste into protein positions them favorably in the European Union, driving market growth.

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Future Outlook:

The Europe Edible Insects Market presents an array of growth opportunities amidst evolving consumer preferences and sustainability imperatives. With concerted efforts to address challenges and leverage emerging trends, stakeholders are poised to unlock significant value within this dynamic market landscape.

Contact:
Meticulous Market Research Pvt Ltd
Office No-202, 203,204,205,206
2nd Floor, Pushpak Business Hub,
Wakad, Pimpri-Chinchwad,
411057, India.
Phone: +9102066394988
CIN- U93000PN2013PTC149455

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This release was published on openPR.