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Global Edible Insects Market: Growing Demand for High Protein Food Products to Encourage Growth, finds TMR
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The rising demand for food products with high protein content among middle class consumers is the key factor encouraging the growth of the global edible insects market. In addition, the tremendously rising population worldwide is expected to contribute extensively towards the development of the market. The consumption of insects is considered to have a positive effect on the health and livelihood of consumers in many parts of the world. The rising awareness of this benefit is likely to drive the demand for edible insects in the next few years.
Some of the edible insects considered to be a rich source of nutrition are crickets, wasps, cockroaches, bees, flies, grasshoppers, beetles, termites, scale insects, and ants. On the basis of application, the global edible insects market has been classified into human food, animal feed (poultry and aquaculture), and others. The projected growth rate and size of each segment have been mentioned in the scope of the research report.
The global edible insects market has been classified on the basis of geography into North America, Asia Pacific, Europe, and Rest of the World. Among these, Asia Pacific is expected to emerge as the leading region, thanks to the rising demand for edible insects. In this region, India, China, Sri Lanka, Bangladesh, and Malaysia are considered as the key countries contributing towards the growth of the edible insects market in Asia Pacific. On the other hand, the rising demand for edible insects owing to its nutritional value is expected to augment the market in Africa throughout the forecast period.
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Kreca V.O.F., LLC, HaoCheng Mealworm Inc., EnviroFlight, AgriProtein Technologies, and Reese Finer Foods Inc. are some of the prominent players operating in the edible insects market across the globe. In order to increase their market penetration, these players are emphasizing on innovative packaging and large-scale publicity of their products. The product portfolio, financial overview, business strategies, recent developments, and SWOT analysis of the leading players have been discussed in the research report to give a clear understanding of the market.
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