Edible Insects Market will reach $7.96 billion by 2030: Meticulous Research®

Global edible insects market is expected to reach USD 7.96 billion by 2030, at a CAGR of 24.4% during the forecast period of 2019 to 2030. Also, in terms of volume, this market will grow at a CAGR of 27.8% to reach 732,684.1 tons by 2030.

Meticulous Research® – leading global market research company published a research report titled “Edible Insects Market by Product Type (Whole Insect, Insect Powder, Insect Meal), Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Animal Feed, Protein Bar and Shakes, Bakery, Confectionery, Beverages) - Global Forecast to 2030”.

According to this latest publication from Meticulous Research®, the global edible insects market is expected to reach USD 7.96 billion by 2030, supported by a CAGR of 24.4% during the forecast period of 2019 to 2030. In terms of volume, this market is poised to grow at a CAGR of 27.8% during the forecast period to reach 732,684.1 tonnes by 2030. The growth of this market is majorly driven by factors such as growing population and decreasing food resources, increasing demand for protein rich food, high cost of animal protein, environment sustainability with production and consumption of edible insects, high nutritional value of insects, and low risk of transmitting zoonotic diseases are driving the growth of the global edible insects market. However, non-standardized regulatory framework across the globe, lack of awareness, psychological and ethical barriers, and allergies due to insect’s consumption are the major factors restraining growth of this market to some extent.

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Key findings in the global edible insects market study:

Edible crickets dominates the global edible insects market

Crickets commanded the largest share of the global edible insects market in 2018, which is mainly attributed to increased demand for cricket-based products due to its high nutritional value; easy farming and processing; and growing incorporation into various food recipes & products such as protein powder, protein bars, and snacks, among others.

Insect protein bars and protein shakes to post the fastest growth

Insect protein bars and protein shakes application segment is expected to grow at a highest CAGR during the forecast period. The fast growth of this segment is mainly attributed to increasing inclination of young generation towards the fitness and wellness, rising number of health clubs and fitness centers, and busy lifestyle and swelled disposable income which demands highly nutritious and convenient food.

North America: Fastest growing regional market

North America is one of the key geographies for the edible insects market. The North American region is slated to register the fastest growth during the forecast period, primarily due to growing demand for environment friendly high protein diets, growing aversion to highly processed foods, increasing demand for insect-based foods, presence of large number of insect farmers and insect food product manufacturers, and growing concern about meat production.

Key Players

The key players operating in the global edible insects market are Kreca Ento-Food Bv (A Proti-Farm Company, Entomo Farms, Haocheng Mealworm Inc, Agriprotein, Ynsect, Deli Bugs Ltd., Hargol Foodtech, Aspire Food Group, All Things Bugs, LLC, Tiny Farms, Beta Hatch, Entocube, Nordic Insect Economy, Rocky Mountain Micro Ranch, Coalo Vally Farms, Armstrong Cricket Farm Georgia, Cowboy Cricket Farms, Global Bugs Asia Co., Ltd., Jr Unique Foods Ltd., Part, and The Cricket Lab, among many other local and regional players.

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Key Topics Covered in This Report:

1. Introduction
1.1. Market Ecosystem
1.2. Currency and Limitations
1.2.1. Currency
1.2.2. Limitations
1.3. Key Stakeholders

2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.2. Primary Research
2.1.3. Market Size Estimation

3. Executive Summary

4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Growing Population and Decreasing Food Resources
4.2.2. High Nutritional Value of Insects
4.2.3. Environmental Sustainability with Production and Consumption of Edible Insects
4.2.4. Low Risk of Transmitting Zoonotic Diseases
4.3. Restraints
4.3.1. Non-Standardized Regulatory Framework
4.3.2. Lack of Awareness
4.3.3 Psychological and Ethical Barriers to Insects as Food
4.4.4. Allergies due to Consumption of Insects
4.4. Regulatory Analysis
4.4.1. North America U.S. Canada
4.4.2. Europe Belgium Denmark Finland Germany
4.4.3. Asia-Pacific
4.4.4. Rest of World
4.5. Pricing Analysis, by Product Type
4.5.1. Introduction
4.5.2. Whole Insects
4.5.3. Insect Powder
4.5.4. Insect Meal

5. Global Edible Insects Market, by Product Type
5.1. Introduction
5.2. Whole Insects
5.3. Insect Powder
5.4. Insect Meal

6. Global Edible Insects Market, by Insect Type
6.1. Introduction
6.2. Crickets
6.3. Black Soldier Flies
6.4. Mealworms
6.5. Buffalos
6.6. Grasshoppers
6.7. Ants
6.8. Silkworm
6.9. Cicadas
6.10. Others

7. Global Edible Insects Market, by Application
7.1. Introduction
7.2. Processed Whole Insects
7.3. Animal and Pet Feed Products
7.4. Processed Insect Powder
7.5. Insect Protein Bars and Protein Shakes
7.6. Insect Baked Products and Snacks
7.7. Insect Confectioneries
7.8. Insect Beverages
7.9. Others

8. Global Edible Insects Market, by End Use
8.1. Introduction
8.2. Human Consumption
8.3. Animal Nutrition

9. Geographic Analysis
9.1. Introduction
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.3. Europe
9.3.1. The Netherlands
9.3.2. Belgium
9.3.3. France
9.3.4. U.K.
9.3.5. Denmark
9.3.6. Finland
9.3.7. Germany
9.3.8. Rest of Europe
9.4. Asia-Pacific
9.4.1. Thailand
9.4.2. China
9.4.3. South Korea
9.4.4. Vietnam
9.4.5. Rest of APAC
9.5. Latin America
9.6. Middle East and Africa

10. Company Profiles (Includes Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
10.1. Kreca Ento-Food Bv (A Proti-Farm Company)
10.2. Entomo Farms
10.3. Haocheng Mealworm Inc.
10.4. Agriprotein
10.5. Ynsect
10.6. Deli Bugs Ltd.
10.7. Hargol Foodtech
10.8. Aspire Food Group
10.9. All Things Bugs, Llc
10.10. Tiny Farms
10.11. Beta Hatch
10.12. Entocube
10.13. Nordic Insect Economy
10.14. Rocky Mountain Micro Ranch
10.15. Coalo Vally Farms
10.16. Armstrong Cricket Farm Georgia
10.17. Cowboy Cricket Farms
10.18. Global Bugs Asia Co., Ltd.
10.19. Jr Unique Foods Ltd., Part
10.20. The Cricket Lab

11. Appendix
11.1. Questionnaire
11.2. Key Sources

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