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.
The global edible insects market study presents historical market data in terms of value and volume (2017 and 2018), estimated current data (2019), and forecasts for 2030 by product type (whole insect, insect powder, and insect meal), insect type (crickets, black soldier flies, mealworms, buffalos, grasshoppers, ants, silkworm, cicadas, and others), application (processed whole insect, animal and pet feed products, processed insect powder, insect protein bar and protein shakes, insect baked products and snacks, insect confectioneries, insect beverages, and others), end use (human nutrition and animal consumption). The study also evaluates industry competitors and analyzes the market at regional and country level.
Based on product type, insect powder is expected to grow at a highest CAGR during the forecast period, due to factors such as unwillingness of eating whole insects; high shelf life and availability in off season; wide range of applications in various food and feed products; and emergence of several startups producing insect protein bars & shakes, beverages, and pasta, among others.
Based on insect type, crickets commanded the largest share in 2018 and expected to dominate the global edible insects market during the forecast period. The growth of this type is primarily attributed to its high nutritional value, easy farming, easy processing, and growing use in various food recipes & products. Also, increasing demand for cricket-based products, such as protein powder, protein bars, and snacks, among others further supports the growth of this segment.
Based on application, processed whole insects segment dominated the edible insects market in 2018. The large share of this segment is mainly attributed to large scale production of raw whole insects, growing acceptability towards insect eating, high nutritional value of insects for human consumption and animal nutrition, and growing demand for environment friendly protein alternative sources. However, the 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.
Based on end use, human consumption dominated the edible insects market in 2018, owing to increasing demand for animal-based food to feed the exponentially growing global population, high nutritional value of insects for human consumption, growing demand for environment friendly protein alternative sources, growing acceptance of insects and insect-based food among people, and emergence of large number of insect food companies across the globe.
This research report analyzes major geographies and provides comprehensive analysis of North America (U.S. and Canada), Europe (The Netherlands, Belgium, France, U.K., Denmark, Finland, Germany, and Rest of Europe), Asia-Pacific (Thailand, China, South Korea, Vietnam, and RoAPAC), Latin America, and Middle East & Africa. Asia-Pacific commanded the largest share of the global edible insects market in 2018, followed by Europe and North America. The largest share of this region is mainly attributed to the insect’s diversity and huge production, positive attitude towards the insect as food and feed, and no regulatory barrier to use insect in food and feed.
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, CoaloVally Farms, Armstrong Cricket Farm Georgia, Cowboy Cricket Farms, Global Bugs Asia Co., Ltd., Jr Unique Foods Ltd., and The Cricket Lab, among many other local and regional players.
Browse in-depth Report on: https://www.meticulousresearch.com/product/edible-insects-market-forecast/
Key questions answered in the report-
About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa.
With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicated market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth. Meticulous Research® produces global reports and custom studies for North America, Europe, Latin America, Asia-Pacific, and the Middle East and Africa regions. These reports are used by our clients for marketing and strategic planning in various sectors.
Contact Sales- +1-646-781-8004
Connect with us on LinkedIn- https://www.linkedin.com/company/meticulous-research