"Edible Insects Market by Product (Whole Insect, Insect Powder, Insect Meal, Insect Oil), Insect Type (Crickets, Black Soldier Fly, Mealworms) and Application (Animal Feed, Protein Bar and Shakes, Bakery, Confectionery, Beverages) - Global Forecast to 2027"
This study examines the global edible insect market in detail, focusing on current industry trends, market size, and recent changes, as well as forecasting to 2027. From 2020 to 2027, the edible insects market is predicted to rise at a CAGR of 26.5 percent, reaching $4.63 billion in value. Furthermore, between 2020 and 2027, the edible insects market is predicted to increase at a CAGR of 28.5 percent, reaching 13,98,862.6 tonnes.
The report conducts an impact analysis of the key industry drivers, restraints, opportunities, and challenges after thorough secondary and primary research and an in-depth analysis of the market landscape. This market is characterised by more diversified operations that provide shelf-stable and healthy products, owing to rising greenhouse gas emissions from livestock and poultry, high nutritional value of insects, low environmental impact over their entire life cycle, and low risk of transmitting zoonotic diseases, all of which indicate the edible insects market's strong growth potential. Manufacturers in the food industry have a lot of prospects in emerging markets.
The insect powder segment is expected to grow at the fastest CAGR during the forecast period, based on product (In terms of value). The ease of handling, transportation, storage, and application are all factors in this segment's rapid expansion. Increased interest in fitness and wellness, an increase in the number of health clubs and fitness centres that prefer and serve insect powder, the emergence of several start-ups that produce insect protein bars and shakes, and busy lifestyles that demand highly nutritious and convenient foods are all major drivers of this segment's growth.
During the forecast period of 2020-2027, the crickets segment is estimated to lead the edible insects market by insect type (In terms of value). Due to the high nutritional value, easy farming, and easy processing of crickets; their incorporation into various food recipes and products; and the increasing demand for cricket-based products, such as protein powders, protein bars, and snacks, this segment is expected to grow at the fastest rate during the forecast period.
During the forecast period, the processed whole insects segment is likely to hold the greatest share of the edible insects market (In terms of value). The wide availability of entire insects, increased consumption of insect-based meals, the high nutritional content of insects, and the growing desire for environmentally friendly, alternative protein sources are all contributing to this segment's substantial share.
The human consumption category is expected to expand at the fastest CAGR throughout the projected period, based on end use (In terms of value). The increasing demand for protein-rich food to feed the world's geometrically growing population, the high nutritional value of insects in human nutrition, and the growing demand for environmentally acceptable alternative sources of protein are all contributing to this increase.
A complete qualitative and quantitative examination of the industry's five geographic regions is provided via an in-depth geographic analysis (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). During the projected period, the North American region is expected to have the highest CAGR (In terms of value). Growing demand for environmentally friendly high-protein diets, aversion to highly processed foods, increasing demand for insect-based foods, presence of a large number of insect-based food product manufacturers, and growing concerns about meat production are all contributing to this region's fastest growth.
EntomoFarms, Haocheng Mealworms Inc., Agriprotein (Insect Technology Group Holdings U.K. Ltd.), Ynsect SAS, Deli Bugs Ltd., Hargol FoodTech, Aspire Food Group, All Things Bugs, LLC, Tiny Farms, Global Bugs Asia Co., Ltd., Beta Hatch Inc., EntoCube Ltd., Rocky Mountain Micro Ranch, Armstrong Cricket Farm Georgia, Cowbo Cricket Farm Georgia,
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