IMARC Group's report titled "Edible Insects Market Report by Type (Beetles, Cricket, Caterpillars, Grasshoppers, Bees, Ants, and Others), Product (Whole Insects, Insect Powder, Insect Meal, Insect Oil), Application (Food and Beverage, Bakery, Pet Food, and Others), and Region 2024-2032". The global edible insects market size reached US$ 1.6 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 6.2 Billion by 2032, exhibiting a growth rate (CAGR) of 16.15% during 2024-2032.
Factors Affecting the Growth of the Edible Insects Industry:
- Sustainability and Environmental Concerns:
The consumption of edible insects is increasingly recognized as a viable response to growing sustainability and environmental issues associated with conventional livestock farming. Insects, including crickets and mealworms, demonstrate remarkable efficiency in transforming feed into protein, necessitating considerably less land, water, and feed than traditional livestock such as cattle or poultry. Given their substantially lower carbon emissions and diminished resource requirements, edible insects present a promising avenue for alleviating the environmental consequences of food production, positioning them as essential contributors to the transition towards more sustainable and environmentally friendly protein alternatives.
- Nutritional Benefits and Health Awareness:
The market for edible insects is primarily fueled by an increasing awareness of their nutritional advantages. Insects are abundant in protein, beneficial fats, vitamins, and minerals, rendering them a significant nutrient source. As health-oriented consumers look for protein alternatives that fit their dietary choices, edible insects present an attractive solution. Furthermore, their sustainable farming methods and reduced environmental footprint enhance their attractiveness in tackling both nutritional and ecological issues, thereby promoting their acceptance and integration within the food sector.
- Food Industry Innovation:
The innovation within the food and beverage sector, along with its readiness to integrate edible insects into a variety of products, is driving market expansion. Businesses are ingeniously incorporating edible insects into items like protein bars, snacks, and meat alternatives, responding to consumer preferences for varied and sustainable protein options. These creative product developments not only broaden the selection of edible insect-based choices but also improve consumer acceptance and awareness of this alternative protein source. The food industry's flexibility and eagerness to explore new possibilities are crucial factors influencing the future of the Edible Insects market as a viable and nutritious food source.
Leading Companies Operating in the Global Edible Insects Industry:
- All Things Bugs LLC
- Bugsolutely Ltd.
- Chapul LLC
- DeliBugs
- Eat Grub Ltd.
- Entomo Farms
- EnviroFlight LLC
- EXO Protein (Aspire Food Group)
- Fluker's Cricket Farm Inc.
- Jr Unique Foods Ltd.
- Nutribug Ltd.
- Thailand Unique
For an in-depth analysis, you can refer sample copy of the report: https://www.imarcgroup.com/edible-insects-market/requestsample
Edible Insects Market Report Segmentation:
By Type:
- Beetles
- Cricket
- Caterpillars
- Grasshoppers
- Bees
- Ants
- Others
Beetles represented the leading segment due to their high protein content, palatability, and widespread use in various edible insect-based products.
By Product:
- Whole Insects
- Insect Powder
- Insect Meal
- Insect Oil
Insect powder accounted for the largest market share owing to its versatility, ease of incorporation into various food products, and suitability for dietary supplements and animal feed.
By Application:
- Food and Beverage
- Bakery
- Pet Food
- Others
Food and beverage represented the largest segment as it incorporates edible insects into a wide range of products, including protein bars, snacks, and baked goods, catering to the growing demand for alternative protein sources.
Market Breakup by Region:
- North America (United States, Canada)
- Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America (Brazil, Mexico, Others)
- Middle East and Africa
Global Edible Insects Market Trends:
The market for edible insects is witnessing remarkable expansion, driven by the rising demand for sustainable protein alternatives in light of environmental concerns and food security challenges. Edible insects are abundant in protein, require fewer resources for production, and have a reduced environmental impact compared to conventional livestock, rendering them a viable solution for global food issues. Additionally, the growing awareness of the nutritional advantages of edible insects, which include high protein levels, beneficial fats, and essential vitamins and minerals, has further propelled their adoption. Moreover, continuous innovation within the food and beverage industry, which is integrating insects into a variety of products such as protein bars, snacks, and baked goods, is contributing to the growth of this market.
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