Press release
Innovative Insights into the Lucrative Future of Edible Insects Unveiled
The pressing need to double current food production to accommodate the burgeoning global population has ignited a quest for environmentally sustainable food sources with exceptional nutritional profiles. Enter edible insects - a promising solution that not only addresses the escalating demand for food but also offers a rich source of nutrition.
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Several factors are propelling the expansion of the edible insects market, including escalating greenhouse gas emissions from traditional livestock farming, the remarkable nutritional value of insects, and the eco-friendly advantages associated with their consumption. Furthermore, the surging demand for insect protein in animal feed applications and the minimal risk of zoonotic diseases associated with edible insects consumption are contributing significantly to market growth.
However, despite the immense potential, certain challenges loom over the horizon. These include the absence of a standardized regulatory framework, psychological and ethical barriers to insect consumption, and concerns regarding allergic reactions. Overcoming these obstacles will be crucial in unleashing the full potential of the edible insects market.
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Emerging economies present lucrative opportunities for stakeholders in the edible insects market. Nevertheless, addressing the lack of awareness regarding the benefits of insect consumption remains imperative for sustained growth throughout the forecast period of 2023-2032.
Key Players
Leading entities driving innovation and growth in the edible insects market include:
Ÿnsect (SAS) (France),Protix B.V. (Netherlands),Innovafeed SAS (France),EnviroFlight, LLC (U.S.),Nutrition Technologies Group (Singapore),Entomo Farms (Canada),Hargol FoodTech (Israel),Aspire Food Group (U.S.),All Things Bugs LLC (U.S.),Beta Hatch (U.S.),EntoCube OY (Finland),Armstrong Crickets Georgia (U.S.),Global Bugs Asia Co., Ltd (Thailand),JR Unique Foods (Thailand),BIOFLYTECH S.L. (Spain),TEBRIO (Spain),nextProtein SA (France)
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Insights from the Study
The insect powder segment is poised to exhibit the highest CAGR during the forecast period, driven by burgeoning health and wellness trends.
Crickets dominate the market in 2023, fueled by their nutritional value and versatile applications.
The food and beverages segment is anticipated to witness substantial growth, fueled by increasing food shortages and demand for alternative protein sources.
Human consumption accounts for the larger share of the market in 2023, driven by the nutritional benefits and eco-friendliness of insect-based products.
North America is forecasted to register the highest CAGR, attributed to growing demand for sustainable protein-rich foods and shifting attitudes towards insect consumption.
Meticulous Research®'s comprehensive report offers historical market data, current estimates, and insightful forecasts up to 2032. By segmenting the market based on product, insect type, application, and geography, this study provides invaluable insights to industry stakeholders, enabling informed decision-making at regional and global levels.
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