Edible Insects Market Size, Share Global Analysis Report, 2022-2028

Industry Insights

[221+ Pages Report] According to Facts and Factors, the global edible insect market was worth USD 0.51 billion in 2021 and is expected to reach USD 1.8 billion by 2028, growing at an 18.2% CAGR from 2022 to 2028. The global edible insects market report provides a thorough overview of the market. The report offers a comprehensive examination of key segments, developments, drivers, restraints, the competitive landscape, and characteristics that are significant in the market.

Market Overview

Insects as edible insects or food are insect species that are consumed by humans, either whole or as an element in processed foods such as pasta, burger patties, or snacks. In specialized insect farms, edible insects are reared as livestock. In North America, as well as in European countries such as Belgium and the Netherlands, insects are produced for human consumption under strict dietary laws and hygiene standards. Depending on the insect species, several variables apply, such as humidity, temperature, water sources, feed, and housing.

In industrialized insect farms, insects are raised from eggs to larvae or mature form, then killed by lowering the temperature. The insects are then packed whole and freeze-dried, or crushed into insect powder (insect flour) for use in other food products such as bakery goods or snacks.

COVID-19 Impact

The COVID-19 outbreak posed numerous challenges to the food industry, particularly to meat product manufacturers around the world. The meat processing industry has faced significant challenges, including the threat of continuing production, distribution, mass transit, & other supply chain activities; a limited workforce; and product development delays.

The scheduled change of private capital investment and public funding plans hampered food sector development even more. These factors are expected to have an impact on the meat products industry, increasing the search for alternative sources of protein such as edible insects.

Growth Drivers

• Rising demand and awareness to propel market growth

Increased farming of insects due to low investment, combined with a decrease in seafood due to fishing constraints imposed by many countries, is expected to drive demand for the product. Supply for such invertebrates is increasing due to their high nutritional value, low cost, and minimal farming costs, which is positively impacting the global edible insects market growth. Governments are taking steps to educate customers in emerging economies such as China and India, which will help drive market demand. These insects require less land to produce, less food than other animals, and are 10 times more protein-rich than other sources. These significant factors are anticipated to enhance market demand during the forecast period. 

Insects are thought to be the easiest food source for malnutrition because they are easy to digest. In comparison to other animals, insects are resistant to disease transmission, which drives their demand. Furthermore, the presence of micronutrients such as fatty acids, zinc, iron, and magnesium is expected to drive market growth.

Restraints

• Stringent regulations and negative attitudes toward insects hinder the market growth

The stringent rules and regulations in Europe and North America for food manufacturers regarding the use of edible insects in baking, cheese, and other confectionaries to protect consumer interests are forcing market players to provide innovative, safe, and high-quality alternatives. Furthermore, in countries like India, cultural beliefs and negative perceptions of insect consumption and a lack of awareness are likely to stymie the global edible insects market growth. Limited distribution channels, as well as the lack of a legal framework governing the consumption of insects, are also expected to limit market growth during the forecast period.

Segmentation Analysis

The global edible insects market is segmented on the basis of type of product, type of insect, application, and region.

By type of product, the market is divided into insect oil, insect meal, insect powder, and whole insect. During the forecast period, the insect powder segment is projected to expand at the fastest CAGR. Consumers' growing interest in fitness & wellness, the growing number of health clubs & fitness centers supplying insect powder, the emergence of several start-ups generating insect protein bars & shakes, and hectic lifestyles demanding nutrient-dense & convenient foods, such as insect powder, are all major drivers of growth in this segment.

By type of insect, the market is divided into mealworms, flies, black soldiers, crickets, and others. Crickets are expected to hold the largest market share in the edible insects market. Crickets' growth is mainly attributed to their high nutritive quality, ease of farming & processing, incorporation into different recipes & food products, and growing preference for cricket-based food products such as protein bars, protein powders, & snacks.

By application, the market is divided into food & beverage and animal feed. During the forecast period, the food & beverage segment is projected to grow at the fastest CAGR. The rapid growth of this segment is being driven by the global food shortage, an increase in the demand for processed whole insects as food, and an increase in the end-user market for high alternative protein & amino acid sources.

Report Scope

Regional Landscape

• The global market is likely to be governed by North America in coming period

North America holds a 38% share of the global edible insects market. Because of its growing population, increased demand for protein-rich foods increased awareness of food habits, increased awareness of the benefits of eating insect food, increased insect harvesting, and the presence of more insect food manufacturers, North America remains the biggest consumer of edible insects.

However, the Asia Pacific edible insects market is expected to grow at a rapid pace due to rising population density, rapid urbanization, a favorable attitude toward insects as food & feed, lower production costs, increased reliance on edible insects, and the availability of different edible insect types.

Recent Development

• March 2020: Protix BV, an insect farming manufacturer that nurtures black soldier fly larvae and stages them into additives such as lipids and proteins, announced an undisclosed amount of funding from Rabo Corporate to improve its insect processing plant in the Netherlands.
• May 2020: Trendlines Agrifood Fund Pte. Ltd. has made a second investment in Insectta Pte. Ltd., a Singapore-based start-up that extracts valuable biomaterials from insects (Fund of The Trendlines Group Ltd.). This advancement is predicted to boost the value and variety of products derived from food waste valorization.

Competitive Landscape

Some of the global edible insects market players are :

• Thailand Unique 
• Crowbar Protein 
• Agriprotein 
• Edible Inc. 
• Cricket Flours LLC 
• Chapul Cricket Protein 
• Crik Nutrition 
• Kreca Ento-Food BV 
• HaoCheng Mealworms Inc. 
• Six Foods 
• Nutribug Ltd. 
• GreenKnow 
• Bugolutely 
• Ecobars Pty Ltd. 
• LaViewEye 
• Fluker’s Cricket Farm Inc. 
• Crickers 
• Insectitos 
• Bitty Foods 
• Bensbugs 
• BugEater Foods 
• Exo 
• Enviroflight 
• Protifarm 
• Gathr Foods 
• Entomo Farms 

The global edible insects market is segmented as follows; 

By Type of Product Segment Analysis

• Insect Oil
• Insect Meal
• Insect Powder
• Whole Insect

By Type of Insect Segment Analysis

• Mealworms
• Flies
• Black Soldiers
• Crickets
• Others

By Application Segment Analysis

• Food & Beverage
• Animal Feed

By Regional Segment Analysis

• North America
  • The U.S.
  • Canada
  • Mexico
• Europe
  • France
  • The UK
  • Spain
  • Germany
  • Italy
  • Nordic Countries
    • Denmark
    • Sweden
    • Norway
  • Benelux Union
    • Belgium
    • The Netherlands
    • Luxembourg
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • Australia
  • South Korea
  • Southeast Asia
    • Indonesia
    • Thailand
    • Malaysia
    • Singapore
    • Rest of Southeast Asia
  • Rest of Asia Pacific
• The Middle East & Africa
  • Saudi Arabia
  • UAE
  • Egypt
  • South Africa
  • Rest of the Middle East & Africa
• Latin America
  • Brazil
  • Argentina
  • Rest of Latin America