Global Demand for Edible Insects Is Anticipated To Reach US$ 8 Billion By 2032

 Fact.MR, a market research and competitive intelligence provider, reveals that the global edible insects market is currently valued at US$ 3.2 billion and is expected to expand at a high CAGR of 18.5% between 2022 and 2032.

Entotarians (one whose diet includes insects but no other meats) is a novel concept that came into existence as a problem solver to feed the estimated 10 billion people that the world will have in some years. The growing number of entotarians has intensified the demand for edible insects. In addition, due to consumer desire for more sustainable and alternative food and feed products, the use of edible insects has been gradually developing. For instance, around 2,000 insect species are already consumed regularly by people and domestic animals across the world owing to their high protein, healthy fat, mineral, and vitamin content.

Fact.MR has analyzed that food manufacturers have seized this chance to enter the market and create a variety of products. The availability of various product types, including protein bars, edible insect snacks, mealworm cookies, cricket pasta, and honey caterpillar croquettes is gaining consumer attention.

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Key Takeaways from Market Study

  • The global edible insects market is projected to surge at a CAGR of 18.5% and reach US$ 17.6 billion by 2032.
  • Sales of edible insects increased at 12.2% CAGR from 2017 to 2021.
  • Under product type, whole edible insects dominate the market and are valued at US$ 2.1 billion in 2022.
  • Europe leads the global market with 25.9% share in 2021.
  • Consumption of edible insects is expected to skyrocket at CAGRs of 24.6% and 18%, respectively, in East Asia and North America.

Market Participants

  • Thailand Unique
  • Kreca Ento-Food BV
  • Nordic Insect Economy Ltd.
  • Entomo Farms Ltd.
  • Enviro Flight, LLC
  • ynsect
  • Exo protein
  • Protix
  • Deli Bugs Ltd.
  • Eat Grub Ltd.

Competitive Landscape

The global edible insects market is primarily characterized by a large number of multinational players controlling a majority of the market share. Producers of edible insects are aiming for global expansion and are bringing in cutting-edge approaches to insect breeding and raising to boost both, productivity and quality. To introduce competitive and flexible insect production and processing technologies, businesses are investing in research & development operations.

  • In Apr. 2021, Ynsect, a market leader in natural insect proteins, completed its acquisition of Protifarm. With the addition of two new species of mealworms to its offering, the integration led to an increase in Ynsect’s mealworm production capacity.
  • In October 2021, in Canada, Aspire Food Group announced the development of a new automated plant for processing crickets. Aspire’s new facility would annually produce 9,000 metric tons of edible crickets for human and animal consumption.

Fact.MR has provided detailed information about the price points of key manufacturers of edible insects positioned across regions, sales growth, production capacity, and speculative technological expansion, in the recently published report.

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Market Development

Despite challenging economic conditions, the business environment in the edible insects market reflects a rollup within the sector. With the rising preference for edible insects as a whole, companies are providing the same as a whole in the dried, frozen, and raw forms.

Businesses are also engaging in inorganic operations such as partnerships, acquisitions, and mergers.

  • For instance, in the U.S., Ynsect worked with Pure Simple True LLC to release its initial product. This product introduction was a critical step for the business in its pursuit of expansion in the U.S. market.

Segmentation of Edible Insects Industry Research

  • By Insects Type:
    • Black Soldier Flies
    • Beetles
    • Caterpillars
    • Hymenoptera
    • Orthoptera
    • True Bugs
    • Others
  • By Product Type :
    • Whole
    • Ingredients
  • By Form :
    • Whole Frozen
    • Whole Dried
    • Powder
  • By End Use :
    • Human Consumption
    • Animal Nutrition
  • By Distribution Channel :
    • Online
      • Brand Websites
      • e-Commerce Platforms
    • Offline
      • Retail Shops
      • Supermarkets/Hypermarkets
      • Specialty Stores
      • Direct Sales
  • By Region :
    • North America
    • Latin America
    • Europe
    • East Asia
    • South Asia & ASEAN
    • Oceania
    • MEA

More Valuable Insights on Offer

Fact.MR, in its new offering, presents an unbiased analysis of the global edible insects market, presenting historical market data (2017-2021) and forecast statistics for the period of 2022-2032.

The study reveals essential insights on the basis of insect type (black soldier flies, beetles, caterpillars, hymenoptera, orthoptera, true bugs, others), product type (whole, ingredients), form (whole frozen, whole dried, powder), end use (human consumption, animal nutrition), and distribution channel (online, offline), across major regions of the world (North America, Latin America, Europe, East Asia, South Asia & ASEAN, Oceania, and the Middle East & Africa).

Explore Fact.MR’s Coverage on the Food & Beverages Domain:

Frozen Meat Market: https://www.factmr.com/report/frozen-meat-market

Edible Insects Market: https://www.factmr.com/report/edible-insects-market

Plant-based Probiotics Market: https://www.factmr.com/report/plant-based-probiotic-market

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