Edible Insects Market 2017: Global Industry Analysis and Opportunity Assessment, Forecast to 2023

Market Definition:
Edible Insects are particularly those insects, which are not harmful and are considered safe for human consumption. These insects are rich in protein, vitamin, and amino acid content. Also, they do not produce toxic gases such as ammonia, which is harmful to the environment. These insects are widely used in preparation of food & beverages, and animal feed. Some of the edible insects used in food industry are caterpillars, bees, ants, and wasps, beetles, scale insects, grasshoppers, crickets and locusts, and mealworm.

Market Scenario:     
Growing consumer interest towards edible insects in the food and feed industry is increasing owing to the presence of amino acids and essential minerals, which has several health benefits associated with the consumption. Edible insects are rich source of protein, fibre, energy, minerals, vitamins, and fatty acids, which has shown a boundless inclination towards the edible insect products. Moreover, increased preference for natural ingredients in food & beverage products has surged the demand for edible insects in the global market.

Furthermore, growing environmental impact by the use of chemical fertilizers and other toxic substances in the crop field has surged the demand for sustainable food owing to low environmental impact on food and providing healthy life, which is likely to increase the global edible insects market over the review period. Also, edible insects used in food and beverage products are relatively cheaper, which has uplifted the demand for edible insects in the food & beverage industry. Additionally, they are not only used in food and beverage industry but also has a potential application in animal feed owing to high amount of amino acids & minerals. However, the limited availability of edible insects and the absence of regulatory laws are likely to hamper the growth of the edible insects market over the review period.

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Key Findings:

Crickets and mealworms are widely used edible insects in human food & pet food, this has a huge opportunity in the global food and feed market
Increasing bug farming has headed in employment in the rural and urban areas owing to growth in the income
Segments:
Edible insects are segmented on the basis of type, which includes caterpillars, bees, ants and wasps, beetles, scale insects, grasshoppers, crickets and locusts, mealworm, and others. Among all, beetles hold the major market share followed by crickets. Edible beetles are rich source of protein and serves as a better alternative for chicken and beef. Also, extensive use of edible cricket and mealworm in preparation of snack bar, protein bar and energy bar is driving the growth of the edible insects in this segment.

On the basis of the application, the edible insects market is segmented into food & beverages, bakery products, savory snacks, animal feed, and others. Increasing use of edible insects in the savory snacks is dominating this segment owing to presence of high protein, vitamin, potassium, zinc, calcium, and amino acid content. Furthermore, rising demand for convenience food and savory snacks is adding fuel to the growth of the global edible insects market over the review period.

On the basis of the distribution channel, the market is segmented into the store-based and non-store based distribution channel. However, the store-based distribution channel is dominating the market based on the one-stop shopping experience.

Regional Analysis:

The global Edible Insects market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is dominating the edible insects market followed by rest of the world. Thailand is the leading consumer of edible insects owing to the increasing awareness about the benefits of consuming edible insect products. Additionally, growing awareness towards insect farming is considered to be the key driving factor in this region.

Moreover, increasing demand for natural ingredients in convenience food products in Asia Pacific countries like China, India, and Japan are likely to boost the growth of the edible insects market during the assessment period.  Furthermore, Brazil and South Africa are experiencing higher consumption of edible cricket & beetle insects in food preparation, which is expected to drive the global edible insects market.

Key Players:
Some of the key players profiled in the global edible insects market:  Nordic Insect Economy Ltd. (Finland), Thailand Unique (Thiland), Haocheng Mealworms Inc. (China), Chapul Inc. (U.S.), Nutribug Ltd. (U.K), Bugsolutely Ltd. (Thiland), Eap Group, Sarl (France)

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