Edible Insects Market Segmented By Beetles, Caterpillar, Hymenoptera, Orthoptera, True Bugs Insect Type As a Whole and As an Ingredient Product Type
Industry: Food and Beverages
Published Date: January-2023
Format: PPT*, PDF, EXCEL
Delivery Timelines: Contact Sales
Number of Pages: 300
Report ID: PMRREP11491
Global consumption of market for edible insects stood at around US$ 7,266.4 Mn in 2023, and is slated to increase at a CAGR of 37.5% to reach a valuation of US$ 1,75,392.6 Mn by 2033.
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Edible Insects Market Size (2023E) |
US$ 7,266.4 Mn |
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Projected Sales of Edible Insects (2033F) |
US$ 1,75,392.6 Mn |
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Value CAGR (2023-2033) |
37.5% |
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Value Share of Top 4 Countries (2022E) |
38.0% |
The global edible insects market has witnessed significant growth in the historical period registering a CAGR of 34.0% in the historical period and was valued at US$ 18,195.5 Mn in 2023.
With increased demand for animal based feed and food the large population, insects are being used as a source of food. Owing to the lower ecological footprint required for the production of insects. Consumption of insects also depend on human health issue and culture. Increased demand for edible insects is also resulting in the development of new technologies used to harvest insects in a more efficient way.
Along with harvesting of insects, companies are also focusing on storing edible insects to keep them fresh for a long time. However, there are still major factors hampering the market growth including safety and health issues, and legislative requirements. Companies are also focusing on developing various edible insect ingredients. Edible insects are also being offered along with the information on their nutrient contents.
The global market for edible insects is estimated to reach an approximate valuation of US$ 1,75,392.6 Mn in the forecast period.
“Increasing Consumer preference towards a Healthy Lifestyle”
Compared to the ingredients, edible insects as a whole is likely to be consumed on a large scale. In Asian countries such as Thailand and China, edible insects are sold as a whole to be consumed by people. Moreover, they are also the part of street food in these countries. With the rising preference for edible insects as a whole, companies are also providing packed edible insects as a whole in dried, BBQ and raw form.
Companies are also moving towards providing food-grade certified insects for consumption. Moreover, activities such as insect harvesting requires very less investment and it is considered as the best wat to earn for the poorest section of society. However, companies are finding new ways to offer edible insects with maximum nutrition value.
“Commercial benefit of insect farming”
Many countries are also focusing on imposing guidelines on edible insects as they are also being considered as an important part of food security. Insects can be grown quickly and farmed in large quantities in a small area. Moreover, the demand for edible insects is also growing due to the numerous benefits offered by them. The demand for edible insects has also increased owing to the rise in globalisation. Edible insects are being produced by adopting wild harvesting, farming and semi-domestication. These methods require very minimal investment.
“Adaptation of Technology Anticipated to Open New Avenues”
Traditional techniques are used by producers in the global market for edible insects to breed insects. A wide range of technology providers are drawn to the lucrative opportunities in the market for edible insects. IoT and other emerging technology are used by a number of technology providers to streamline the process of insect breeding to produce solutions that are both efficient and effective. Adopting such cutting-edge technologies for insect breeding and the creation of insect-based products is anticipated to increase manufacturers' profits.
“Declining Prices of Insect-based Products Propelling Market Growth”
Prices of insect-based products such as protein and oil for animal feed, insect-based fertilizers for agricultural plants, and whole insects for direct consumption by animals have started to decline at the global level. The increase in demand for edible insects for consumption by animals and their products has compelled manufacturers to increase their production capacities. Thus, the gap between supply and demand is decreasing rapidly across the globe.
This decreasing gap between supply and demand is impacting the global average prices of edible insects and insect based-products. Declining prices of insect-based products encourages buyers to go for insect-based nutrition rather than plant-based nutrition for animals and livestock.
“Suitable Alternative to High-cost Conventional Protein Sources”
Animals' traditional nutrition sources include plant-based proteins such as soy protein and several other grain proteins, as well as animal-based proteins such as fish meal and fish oil. Meat meal, fishmeal, and soybean meal account for 60% to 70% of production costs, making these alternatives significantly more expensive than insect-based protein.
In comparison to the previously mentioned conventional protein sources, insect-based proteins are a low-cost protein source that significantly reduces the total cost of animal nutrition. As a result, the popularity of insect-based protein is growing around the world, and the growing inclination of customers to adopt insect-based protein is expected to drive growth in the global edible insects for animal feed market.
“Regulatory Challenges Hindering Market Growth”
The quality and safety of food and feed are critical for the edible insect industry. Edible insect manufacturers, like any other food and feed company, must adhere to the principles outlined in the General Food Law and the European Feed Safety Risk Management Policy (for the European region).
Individual feed/food business operators bear responsibility for the safety of the feed/food on the market. Food traceability must be ensured. The use of edible insects for feed is still limited in Europe. Edible insects are not permitted as poultry or swine feed. These restrictions prevent the edible insects for animal feed market from reaching its full potential.
Why is the Asia Pacific region expected to show prominent growth for the edible insects market?
Asia Pacific is considered to be the largest region accounting for maximum edible species, with increasing population and rising food demand, the dependency on edible insects is also increasing. The availability of insects also depends on geographical regions, while some of the countries in Asia Pacific are dominated by the particular type of edible insects.
Harvesting, gathering, and processing insects is also becoming an important business in some countries especially for locals as very little investment is required. Various types of insects are considered edible including caterpillar, orthoptera, beetles, true bugs etc. However, among these, beetles are likely to be consumed on a large scale in the near future.
What is the outlook for North American Edible Insects Market?
The North American Market holds 33% of the global market value share while U.S. holds almost 25% of the global market value. The increasing consumer concern has shifted focus towards alternative sources of protein in order to fulfil nutritional requirements for healthy functioning of the body. There is an increasing push in developing countries like U.S. in order to optimize diets in order to maximise potential especially when there are increasing instances of loss of agricultural area and nutrient deficiency in the population.
Which Insect Type among Edible Insects Accounts for High Revenue Generation?
Mealworms hold the maximum share of the market with around 43% of the market. They are fairly popular as a snack item in Asian countries and are a good source of protein. The nutritional benefits have caused their popularity to soar in the western world as well with the adoption of mealworms as a consumable gaining traction in the market as well.
Which Product Type of Edible Insects is seen more across the World?
Meal (Powder) holds the maximum value share of the market with 42.8% of the market. Consumption of insects still has stigma associated with it with the primary being their unappetizing appearance. Protein powders having insects as a source for protein is preferred as the powdered form is easier to digest and consume and can be used in multiple ways. This is responsible for the segment having major market value share.
The global edible insects for animal feed market is dominated by a significant number of multinational corporations. Companies having a global presence account towards 40-45% of the market. Manufacturers of edible insects are focusing their product offerings based on the increasing demand across various sectors.
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Attribute |
Details |
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Forecast period |
2023-2033 |
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Historical data available for |
2017-2022 |
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Market analysis |
USD million for value |
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Key regions covered |
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Key countries covered |
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Key market segments covered |
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Key companies profiled |
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Report coverage |
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Customization & pricing |
Available upon request |
By Insect Type:
By Product Type:
By Region:
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The global market for edible insects has a value of US$ 7,266.4 Mn in 2023.
The global market for edible insects has a value CAGR of 34.0% from 2017-2022.
The global market for edible insects has a value of US$ 1,75,392.6 Mn in 2033.
The global market for edible insects has a value CAGR of 37.5% from 2023-2033.
AgriProtein Holdings Ltd., Thailand Unique, Kreca Ento-Food BV, Nordic Insect Economy Ltd., EnviroFlight, LLC., and other businesses are among the major players in the global market for edible insects.
