Edible Insect Food Market Analysis by Application (Animal Nutrition, Human Consumption, Cosmetics & Pharmaceutical, and Others); by Product Type (Insect Protein Bars & Shakes, Powder, Oil, Beverages, Whole Insects, and Others); and by Insect Type (Bees, Ants, Tree Bugs, Caterpillars, Beetles, Grasshoppers, and Others)-Global Supply & Demand Analysis & Opportunity Outlook 2023-2035

  • Product Code:
    RP-ID-10352495
  • Published Date:
    7 Nov 2022
  • Region:
    Global
  • Category:
    FMCG & Food
  • Publisher:
    Pub-ID-54

Impact Analysis on the Growth of Market

Inflation and Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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The Research Report is Updated with 2021 Base Year, 2022 Estimated year and Forecast till 2031 with Market Insights.


With the dip in global production, the GDP has contracted in 2020 and impacted the market across the world. Upon placing a Sample Request, you will receive an updated report with 2021 as base year, 2022 as estimated year and forecast to 2031. This will have market drivers, recovery rate in the market, insights and competitive analysis.



Market Overview:

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Global Edible Insect Food Market Scope Market

 

 Base Year

2023

Forecast Year

2023-2035

CAGR

~29%

Base Year Market Size (2023)

 ~ USD 5.0 Billion

Forecast Year Market Size (2035)

~ USD 24.0 Billion

Global Edible Insect Food Market Highlights Over 2023 - 2035

The global edible insect food market is estimated to garner a revenue of USD 24.0 Billion by the end of 2035 by growing at a CAGR of ~29% over the forecast period, i.e., 2023 – 2035. Further, the market generated a revenue of USD 5.0 Billion in the year 2023. The growth of the market can be attributed to the increasing consumption of edible insects among people across the globe. Furthermore, they are consumed by people for providing more vitamin and protein to their bodies and have played an important role in human nutrition.  More than 2 Billion people across the globe eat bugs on regularly bases that accounted for more than 25 per cent of the global population in the year 2021.

 

Global-Edible-Insect-Food-Market-Overview

 

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Edible insects refer to insects that are considered as a feed for livestock, and food for human consumption. There are edible insects in the form of bees, ants, tree bugs, caterpillars, beetles, grasshoppers, and others. Moreover, some of the edible insects provides reasonable amount of minerals such as Na, Fe, Mn, P, and others as well as vitamins such as Vitamin A, C, D, and others. They are also rich in high protein that can be adopted as a good replacement for animal meat which has higher green- house emissions. Hence, growing green-house emissions from the poultry industries is projected to surge the growth of the global edible insect food market. More than 80 per cent of the green-house emissions can be reduced through replacing edible insect for poultry animals such as pig, meat, and others

Global Edible Insect Food Market: Growth Drivers and Challenges

Growth Drivers

  • Rising Need of High Protein in Elderly Population- In order to fight with chronic disease and improve the immunity system, there is a need for higher protein in the elderly population. Therefore, it is anticipated to surge the growth of the global edible insect food market.  According to the statistics reported by World Health Organization, one in six people around the world will be aged 60 years or above by the end of 2030.

  • Increasing Awareness Among People Related to Health–More than 65 per cent of the Millennials have started thinking about their health every day.

  • Low Risk of Disease Transfer– As per the U.S Food and Drug Administration, nearly one in every 25 packages of chicken at the grocery store are affected with Salmonella bacteria.

  • Rising Insect Farming– There were more than 650 number of recorded species of edible insects around the world in the year 2019.

Challenges

  • Lack of Awareness Related to the Edible Insect Food Benefits

  • Lack of Legal Framework for the Consumption

  • High Cost for the Plant Based Protein

The global edible insect food market is segmented and analyzed for demand and supply by product type into insect protein bars & shakes, powder, oil, beverages, whole insects, and others. Out of these, the insect protein bars & shakes segment is anticipated to hold the largest share over the forecast period owing to the essential protein required by the human in order to have a healthy body. Moreover, protein helps to repair body cells and make new ones and it is expected to increase the growth of the segment in the market. For instance, Crickets edible insect provides two or three times higher complete protein than a beef steak on the same weight basis.

Global Edible Insect Food Market Regional Synopsis

Regionally, the global edible insect food market is studied into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. Amongst these markets, the market in the North America region is projected to hold the largest market share by the end of 2035 on the back of a rising change in the attitude of people towards insects as they are adopting environmentally friendly protein rich food products. Moreover, there is a high prevalence of insect farmers for the growth of the insects that can be used for the manufacturing of the insect-based food product. As per a survey conducted in 2018, more than 70 per cent of the Americans would definitely eat insects in the future.

Market Segmentation

Our in-depth analysis of the global edible insect food market includes the following segments:

By Application

  • Animal Nutrition

  • Human Consumption

  • Cosmetics & Pharmaceuticals

  • Others

By Product Type

  • Insect Protein Bars & Shakes

  • Insect Powder

  • Insect Oil

  • Insect Beverages

  • Whole Insects

  • Others

By Insect Type

  • Bees

  • Ants

  • Tree Bugs

  • Caterpillars

  • Beetles

  • Grasshoppers

  • Others

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Key Companies Dominating the Global Edible Insect Food Market

Our report has covered detailed company profiling comprising company overview, business strategies, key product offerings, financial performance, key performance indicators, risk analysis, recent developments, regional presence, and SWOT analysis among other notable indicators for competitive positioning. Some of the prominent industry leaders in the global edible insect food market that are included in our report are EnviroFlight Corporation, Nutrition Technologies, Reese (World Finer Foods), InnovaFeed SAS, Protix B.V., Ynsect (SAS), Entomo Farms, HiProMine S.A., Protenga Pte Ltd, JR Unique Foods Ltd., and others.

Global Edible Insect Food Market: Latest Developments

  • June, 2022: InnovaFeed SAS, announced the extension of partnership with Cargill in order to bring healthy novel ingredients to aquafarmers.

  • July, 2020: Protenga Pte Ltd announced the close of its last round of seed investment with raising US$1.6 million with UK agritech company Roslin Technologies and Enterprise Singapore's investment arm, SEEDS Capital.

Key Reasons to Buy Our Report

  • The report covers detailed analysis comprising market share attained by each market segment and its sub-segments.

  • It covers market dynamics including growth drivers, trends, potential opportunities, price trend analysis and challenges that impact the market growth.

  • The report includes detailed company profiles of the major players dominating the market.

  • We use effective research methodologies to calculate the market numbers and provide value-added assessment for overall growth.

  • We provide customized reports as per the clients’ requirement helping them to see possible and unexpected challenges and unforeseen opportunities in order to help them reach their goal. 


Geography Analysis:


The report further discusses the market opportunity, compound annual growth rate (CAGR) growth rate, competition, new technology innovations, market players analysis, government guidelines, export and import (EXIM) analysis, historical revenues, future forecasts etc. in the following regions and/or countries:

  • North America (U.S. & Canada) Market Size, Y-O-Y Growth, Market Players Analysis & Opportunity Outlook
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC(Finland, Sweden, Norway, Denmark), Ireland, Switzerland, Austria, Poland, Turkey, Russia, Rest of Europe), Poland, Turkey, Russia, Rest of Europe) Market Size, Y-O-Y Growth Market Players Analys  & Opportunity Outlook
  • Asia-Pacific (China, India, Japan, South Korea, Singapore, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market Size, Y-O-Y Growth & Market Players Analysis & Opportunity Outlook
  • Middle East and Africa  (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market Size, Y-O-Y Growth Market Players Analysis & Opportunity Outlook

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  1. EnviroFlight Corporation
  2. Nutrition Technologies 
  3. Reese (World Finer Foods) 
  4. InnovaFeed SAS 
  5. Protix B.V. 
  6. Ynsect (SAS) 
  7. Entomo Farms 
  8. HiProMine S.A. 
  9. Protenga Pte Ltd 
  10. JR Unique Foods Ltd
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