The Future of Food: Insight into the Booming Edible Insects Market the Worldwide

Edible Insects Market: Valued at About USD 2.8 Billion (2022) & Probable to Rise at a CAGR of 12.4% During 2024-30

Edible insects refer to those insects that are safe to consume by humans. Edible insects such as crickets, mealworms, grasshoppers, ants, beetles, and caterpillars have been consumed for ages in countries like Thailand, Vietnam, China, etc. The Global Edible Insects Market size was valued at around USD 2.8 Billion in 2022 and is expected to rise at a CAGR of around 12.4% during the forecast period, i.e., 2024-30, states MarkNtel Advisors in their recent research report.

According to the report issued by MarkNtel Advisors, the major factor causing the market's growth is the flourishing necessities for high-protein & low-fat foods worldwide. Moreover, the easy accessibility and availability, convenient storage and transportation, high nutritional value, and minimum cost of production are further driving the Global Edible Insects Market. Additionally, the rising insect farming practices owing to their minimal costs and escalating prevalence of diseases associated with livestock are also contributing to the market growth of the edible insects’ industry. The presence of edible insects in several forms such as protein bars, powdered form, and whole insects also increases demand and the trend is likely to continue in the forecast period as well.

Breaking Down the Global Edible Insects Market Segmentation

By Insect Type (Crickets, Mealworms, Black Soldier Flies, Buffalo, Grasshoppers, Ants, Silkworms, Cicadas, Beetles, Caterpillar, and Others)
By Product Type (Insect Powder, Protein Bars, and Whole Insects)
By End User (Human Consumption, Animal Feed, and Agriculture)
By Region (North America, South America, Europe, The Middle East & Africa, and Asia-Pacific)

Both Insect Powder & Protein Bars made up the biggest market share in the previous years. The convenient transportation and storage, easy availability, handling, and application of these products are the major factors behind the segment’s growth. Moreover, the powdered forms of insects are easy to store and can be consumed easily by mixing them with other food items leading to their high demand. Furthermore, the growing inclination of consumers toward fitness and wellness along with the necessity of people to consume nutritious food amid their fast and busy lifestyle is likely to propel the demand for insect powder across the world. Also, gluten-free 'Protein Bars are likely to hold a dominant position in the coming years in the Global Edible Insects Market given their extensive consumption by athletes & sports enthusiasts.

Asia-Pacific leads the Edible Insects Market and the trend is anticipated to continue in the coming years owing to the existence of several factors such as cultural acceptance, controlling settings that are beneficial for growth, and the rising awareness regarding the benefits of eating insects. Moreover, numerous nations in the Asia-Pacific region have recognized explicit legal frameworks and offered incentives for research & innovation to actively support the progression of the edible insect industry. Additional factors such as the availability of an extensive range of species suitable for human consumption in the region and the consumption of edible insects as staple diets in several Asian nations are further propelling the region’s growth in the Global Edible Insects Market.

Who are the Top Competitors Retaining a Substantial Market Share in the Edible Insects Industry?

The competitive landscape of any industry holds a significant value in boosting its overall growth. In the Global Edible Insects Market, companies like AgriProtein Technologies, Aspire Food Group, All Things Bugs, Beta Hatch, Bioflytech, DeliBugs Ltd., Eat Grub Ltd., Thailand Unique, Nordic Insect Economy Ltd., Kreca Ento - Food BV, Entomo Farms Ltd., Protifarm NV, EnviroFlight LLC, EntoCube, Ltd., Entomo Farms, Haocheng Mealworm Inc., Hargol FoodTech, Ÿnsect SAS, and Bugsolutely, Bitty Foods LLC, Six Foods LLC, CRIK Nutrition, and Others, are among the top competitors leading the market.

Blog