12-May-2022 | Facts and Factors
According to the Facts & Factors report, the global edible insects market was worth about 0.51 (USD billion) in 2021 and is predicted to grow to around 1.8 (USD billion) by 2028, with a compound annual growth rate (CAGR) of around 18.2%.
Edible insects are insect species that are consumed by humans. Edible insects provide high-quality vitamins, protein, and amino acids that humans require. These insects have a greater food conversion rate and a lower production cost. Furthermore, they produce fewer greenhouse gases and ammonia than conventional farm animals. Organic waste can also be used to grow edible insects. As a result, insects are a significant source of conventional protein production for direct human consumption.
Browse the full “ Edible Insects Market By Type of Product (Insect Oil, Insect Meal, Insect Powder, and Whole Insect), By Type of Insect (Mealworms, Flies, Black Soldiers, Crickets, and Others), By Application (Food & Beverage and Animal Feed), and By Region-Global and Regional Industry Trends, Competitive Intelligence, Analysis of Data, Statistical Data, and Forecast 2022-2028" report at https://www.fnfresearch.com/edible-insects-market
With increased awareness of the potential benefits of edible insect products and increasing demand for naturally fortified ingredients, industry players are creating innovative methods to sell their products by offering discounts, free samples, and attractive packaging, which can be considered a key driver of the global edible insects market during the forecast period. However, in countries such as India, cultural beliefs and negative consumer perceptions can stifle market growth. Insufficient distribution channels and the lack of a legal framework governing the use of insects are expected to limit market growth during the forecast period.
The global edible insects market is segmented on the basis of type of product, type of insect, application, and region. By 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. 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. 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.
During the forecast period, North America is expected to grow at the highest CAGR for the global edible insects market. The increasing adoption of environmentally friendly protein-rich food products is driving up demand for edible insect foods in this region. Furthermore, increasing acquaintance with insects as food, reducing food neophobia, and changing attitudes toward insects overall and as food are the primary drivers of the edible insects market in North America.
Report Scope
Report Attribute |
Details |
Market Size in 2021 |
USD 0.51 Billion |
Projected Market Size in 2028 |
USD 1.8 Billion |
CAGR Growth Rate |
18.2% CAGR |
Base Year |
2021 |
Forecast Years |
2022-2028 |
Key Market Players |
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., and Others |
Key Segment |
By Type of Product, Type of Insect, Application, and Region |
Major Regions Covered |
North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa |
Purchase Options |
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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, and Entomo Farms.
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.
The global edible insects market is segmented as follows;
By Type of Product
- Insect Oil
- Insect Meal
- Insect Powder
- Whole Insect
By Type of Insect
- Mealworms
- Flies
- Black Soldiers
- Crickets
- Others
By Application
- Food & Beverage
- Animal Feed
By Region
- North America
- Europe
- France
- The UK
- Spain
- Germany
- Italy
- Nordic Countries
- 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
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