The 2022 global for edible insects market had a value of USD 1.2 billion and is projected to achieve a substantial growth, reaching USD 4.3 billion by 2032. During this forecasted period, it is expected to maintain a robust compound annual growth rate (CAGR) of 14.5%. The driving forces behind this substantial revenue growth are the increasing demand for alternative protein sources, a growing awareness of health among consumers, and rising environmental concerns.
Edible insects have gained popularity as a valuable source of protein, vitamins, minerals, and healthy fats, which has led to their increased consumption by health-conscious individuals. Notably, insects are considered a more sustainable protein option in contrast to traditional livestock farming, as they require significantly fewer resources, including water, land, and feed.
Furthermore, the world's expanding population and the escalating need for protein-rich sustenance are pivotal factors contributing to the market's revenue expansion. With the global population projected to reach 9.7 billion by 2050, conventional protein sources like meat, poultry, and fish are expected to face growing sustainability challenges. Consequently, there is anticipated to be a substantial surge in the demand for alternative protein sources, notably edible insects.
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· Entomo Farms
· Aspire Food Group
· Chapul Farms
· Cricket Flours
· All Things Bugs
· Bitty Foods
· Exo Inc.
Drivers of Edible Insects Market
· Growing Interest in Sustainable Protein Sources: As the global population continues to grow, there is increasing pressure on traditional livestock farming and fisheries. Edible insects are seen as a more sustainable source of protein because they require fewer resources (water, land, and food) to produce compared to conventional livestock.
· Environmental Concerns: Concerns about the environmental impact of traditional animal agriculture, including greenhouse gas emissions and deforestation, have led to a push for more sustainable food sources. Edible insects produce fewer greenhouse gas emissions and require less land than livestock, making them an environmentally friendly option.
· Nutritional Benefits: Edible insects are often rich in protein, vitamins, minerals, and healthy fats. They can provide a nutritious and low-impact food source, making them appealing to health-conscious consumers.
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To assist readers in making profitable business decisions, the report is written with the help of industry analysts, market segmentation, and data collection. In addition to providing a comprehensive database of technological and product advances, the report provides detailed information on growth rates, market values, as well as niche market segments.
This report analyzes the Edible Insects market in terms of growth rate, market share, current and emerging trends, production and consumption ratios, industrial chains, demand and supply, imports, exports, revenue contribution, and key player presences in key regions. As a part of the report, a country-by-country analysis of the Edible Insects market is provided to gain a deeper understanding of its growth and progress.
The global Edible Insects market is segmented into:
· North America (U.S.A., Canada, Mexico)
· Europe (Italy, U.K., Germany, France, Rest of Europe)
· Asia Pacific (China, India, Japan, South Korea, Australia, Rest of APAC)
· Latin America (Chile, Brazil, Argentina, Peru, Rest of Latin America)
· Middle East & Africa (Saudi Arabia, U.A.E., South Africa, Rest of MEA)
Further market segmentation
- Food and Beverage
- Animal Feed
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