Press release
Global Edible Insects Market Growth and Forecast 2024
Edible Insects Market Growth
The new report published by The Business Research Company, titled Edible Insects Global Market Report 2024 - Market Size, Trends, And Global Forecast 2024-2033, delivers an in-depth analysis of the leading size and forecasts, investment opportunities, winning strategies, market drivers and trends, competitive landscape, and evolving market trends.
As per the report, the edible insects market size has grown exponentially in recent years. It will grow from $1.92 billion in 2023 to $2.41 billion in 2024 at a compound annual growth rate (CAGR) of 25.0%. The edible insects market size is expected to see exponential growth in the next few years. It will grow to $5.91 billion in 2028 at a compound annual growth rate (CAGR) of 25.2%.
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What Is Driving The Growth Of The Global Edible Insects Market?
Rising Demand For Protein-Rich Foods And Its Impact On The Edible Insects Market
Growing demand for protein-rich food is expected to propel the growth of the edible insects market going forward. Protein-rich foods refer to those that contain a high amount of protein relative to their overall calorie content, such as meat, eggs, dairy products, and seafood. Protein-rich food consumption is growing due to increased health awareness, dietary preferences, and the rising demand for fitness and muscle-building nutrition. Edible insects are used in protein-rich foods as a sustainable and nutrient-dense alternative to traditional protein sources, offering high-quality protein with a lower environmental impact. For instance, in July 2024, according to the Organisation for Economic Co-operation and Development Food and Agriculture, a France-based intergovernmental organization, the global per capita protein intake is projected to increase to 79.8 grams per day by 2033, up from 76.6 grams recorded from 2021 to 2023. The protein intake in North America is also anticipated to increase by 1.5%, equivalent to 1.9 grams per person per day, by 2033, reaching a total of 123 grams per person per day. Therefore, the growing demand for protein-rich foods is driving the growth of the edible insects market.
What Is The Key Trend In The Global Edible Insects Market?
Innovative Edible Insect Products Revolutionize Pet Food Market
Major companies operating in the edible insect market are focused on developing innovative products, such as molitor mealworm-based pet food, to enhance sustainability and nutritional benefits. Molitor mealworm-based pet food refers to pet food products formulated using mealworms as a primary ingredient, leveraging their high protein content and sustainability benefits. For instance, in May 2023, Ÿnsect, a France-based insect-based food product company, launched Sprÿng, a new sustainable brand targeting the pet food market. Sprÿng offers high-quality, nutritious ingredients derived from Molitor mealworms, designed for easy integration into both dry and wet pet food formulations. These ingredients feature a neutral taste, a light brown color, and odorless properties, making them an ideal choice for pet food manufacturers seeking sustainable solutions.
How Is The Global Edible Insects Market Segmented?
The edible insects market covered in this report is segmented -
1) By Insect Type: Crickets, Black Soldier Flies, Mealworms, Buffalo Worms, Grasshoppers, Ants, Silkworms, Cicadas, Other Edible Insects
2) By Application: Food And Beverage, Feed And Pet Food
3) By End Use: Human Consumption, Animal Nutrition
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How Is The Competitive Landscape Of The Global Edible Insects Market?
Major companies operating in the edible insects market are Ÿnsect (SAS), InnovaFeed SAS, Nutrition Technologies Group, Aspire Food Group, Entobel Holding Pte Ltd, Agriprotein Technologies Inc, Darling Ingredients, Bioflytech S.L., Bugsolutely Inc, Crik Nutrition, Deli Bugs Ltd, Eat Grub Ltd, Entofood Sdn Bhd, Entomo Farms Ltd, Kreca Ento-Food BV, Nordic Insect Economy Ltd, Nutribug Inc, Protenga Pte Ltd., SFly Comgraf SAS, Thailand Unique Inc.
Contents Of The Global Edible Insects Market
1. Executive Summary
2. Edible Insects Market Report Structure
3. Edible Insects Market Trends And Strategies
4. Edible Insects Market - Macro Economic Scenario
5. Edible Insects Market Size And Growth
…..
27. Edible Insects Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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Learn More About The Business Research Company
The Business Research Company (www.thebusinessresearchcompany.com) is a leading market intelligence firm renowned for its expertise in company, market, and consumer research. With a global presence, TBRC's consultants specialize in diverse industries such as manufacturing, healthcare, financial services, chemicals, and technology, providing unparalleled insights and strategic guidance to clients worldwide.
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