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Edible Insects Market size was over USD 1.28 billion in 2023 and is poised to exceed USD 14.15 billion by 2036, growing at over 20.3% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of edible insects is estimated at USD 1.49 billion.
Growth Drivers
Insect Farming
Insect farming would likely be able to produce lower greenhouse gases than that of a livestock. Insects feed on bio-waste, uses considerably less water than that of a livestock, and can be farmed more effortlessly. These are the factors contributing towards the insect farming and has a huge global potential for both animal feed and food production, which, in turn, will lead to the overall market growth of edible insects. Additionally, insect farming also provides essential livelihoods to people in rural areas as minimal technical and capital investment is necessary for basic harvesting and rearing equipment.
Rising Health And Fitness Consciousness
Edible insects are extensively used in the manufacturing of low calorie and high protein bars in order to increase the muscle growth. Their easy solubility, neutral taste, and performance-enhancing characteristics making it well-suited with several kinds of protein bar products in the market which is likely to boost the edible insects market growth.
Furthermore, the escalating geriatric population and growing demand for lean protein sources is projected to positively impact the market growth. Furthermore, increasing usability of edible insects in keto diets and raising awareness on the high amino acid, mineral, and vitamin concentration are likely to boost the demand for edible insects.
Challenges
Safety and health issues, legislative requirements, negative perceptions related to insect consumption among consumers, lack of distribution and networking channels, and lack of awareness are a few of the key factors that might hamper the growth of the global edible insect market.
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Base Year |
2023 |
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Forecast Year |
2024-2036 |
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CAGR |
20.3% |
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Base Year Market Size (2023) |
USD 1.28 billion |
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Forecast Year Market Size (2036) |
USD 14.15 billion |
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Regional Scope |
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The edible insects market is segmented by insect type, product type, application, and region. Amongst the product type, the powder segment is estimated to hold the leading market share. The huge application, easy availability of the powder form, consumption in any form, and easy usability as flour are driving the growth of the market. In European regions, edible insects are consumed by mixing it with pizza, cheese, and various other food items in order to enrich their taste. Cricket flour is used in producing many food products, thereby propelling the demand for this segment. The protein bars segment holds the second largest market share owing to the increasing demand for high-quality protein and amino acid sources among the end-users. Further, growing competition in the market is compelling the manufacturers to go for high quality, economical, easily available, and nutrition-rich components to achieve the competitive edge in the global market.
Our in-depth analysis of the global market includes the following segments
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By Insect Type |
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By Product Type |
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By Application
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By Region
Geographically, the edible insects market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America, and the Middle East & Africa region. North America industry is likely to hold largest revenue share by 2036, impelled by increased awareness amongst the population and increasing prices of commercial and residential spaces.
In the European region, the demand for edible insects is substantially high on account of minimal risk of disease transfer as matched to animals and the existence of micronutrients and nutrients such as fatty acids, zinc, selenium, phosphorus, manganese, magnesium, iron, and copper.
The Asia Pacific is expected to be the largest region accounting for maximum edible species of insects, with a growing population and rising food demand, the reliance on edible insects is also increasing. Geographical regions play an important role in the availability of insects and some countries in the Asia-Pacific region are dominated by the particular type of edible insects. In countries such as Thailand and China, edible insects are likely to be sold as a whole to be consumed by people. Also, they are part of street food in these countries. Insect trading is flourishing in cities such as Bangkok and Kinshasa, and there is a higher demand from metropolitan consumers.
January 22, 2020: AgriProtein a leading British agricultural and biotechnology company, was named a 2020 Global Cleantech 100 company by Cleantech Group for the fourth year in a row for commercializing black soldier fly technology to transform food waste into sustainable products.
December 18, 2019: AgriProtein, with the help of the Singapore Economic Development Board, opened a new hub in Singapore as their R&D centre and global project management office. The team will conduct research using local organic waste streams which exist in the Asia region along with the hub serving as their global analytical chemistry reference lab.
Author Credits: Parul Atri
Copyright © 2024 Research Nester. All Rights Reserved
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