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 popularity of edible insects is increasing due to growing worries about sustainability and the environment related to traditional animal farming. Insects like crickets and mealworms are very good at turning food into protein and need much less land, water, and feed than regular livestock such as cows or chickens. Because they have a much carbon footprint and use fewer resources, edible insects offer a hopeful way to lessen the environmental harm caused by food production, playing a vital role in moving towards more sustainable and environmentally friendly protein options.
- Nutritional Benefits and Health Awareness:
The surging demand for edible insects can be attributed to the increasing awareness of their exceptional nutritional profile. Insects are a treasure trove of essential micronutrients, boasting high levels of protein, beneficial fatty acids, vitamins, and minerals. As consumers become more discerning about their health and the environment, they are turning to insect-based protein sources that cater to their dietary needs and values. Moreover, the eco-friendly production processes and reduced ecological footprint of insect farming make them an attractive solution for addressing both health and sustainability issues, thereby fuelling their integration into the food sector.
- Food Industry Innovation:
The food and beverage sector is experiencing growth due to its innovative approach and openness to using edible insects in different products. Businesses are finding creative ways to include edible insects in items like protein bars, snacks, and meat alternatives to meet consumers' requests for a variety of sustainable protein sources. These new product options with edible insects are broadening the selection available and improving consumers' understanding and acceptance of this alternative protein source. The industry's flexibility and readiness to try new ideas are significant factors influencing the future of the Edsects market as a sustainable and healthy food choice.
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 edible insect industry is growing rapidly due to the rising need for sustainable protein sources in light of environmental worries and food security problems. Edible insects offer a high protein content, are resource-efficient, and have a smaller environmental impact compared to traditional livestock, making them a compelling solution for global food challenges. Increased knowledge about the nutritional advantages of edible insects, like their protein richness, good fats, and essential nutrients, is driving the acceptance of these products. Additionally, the food and beverage sector's continuous efforts to include insects in different products such as protein bars, snacks, and baked goods are contributing to market expansion.
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