Promising sustainability and nutritional benefits to open up many opportunities for edible insect suppliers
/EIN News/ — Rockville MD, United States, Sept. 12, 2022 (GLOBE NEWSWIRE) — Fact.MR, a market research and competitive intelligence provider, has revealed that the global edible insect market is now worth US$3.2 billion. puts and is expected to expand at a high CAGR of 18.5% between 2022 and 2032.
Entotarians (with insects in their diet but no other meats) are a new concept that emerged a few years later as a solution to the problem of feeding the world’s 10 billion people. The increase in the number of entotars has fueled the demand for edible insects. In addition, due to consumer demand for more sustainable and alternative food and feed products, the use of edible insects is gradually developing. For example, due to their high protein, healthy fat, mineral and vitamin content, around 2,000 species of insects are now regularly consumed by humans and pets around the world.
Fakt.MR has analyzed that food manufacturers are using this opportunity to enter the market and create various products. The availability of a variety of products, including protein bars, edible insect snacks, mealworm cookies, cricket pasta and honey caterpillar croquettes, attracts consumer attention.
In addition, the medical and production benefits associated with edible insects encourage their adoption among both producers and consumers. For example, raising insects for protein production requires less land and water, which results in fewer greenhouse gases. The nutritional difference between insect protein and conventional protein powder is another important factor driving the market for edible insects in the protein sector.
Get PDF Sample of this Research Report with Detailed Table of Contents:
Health Benefits of Edible Insects It was acknowledged By more people”
In the coming years, people’s eating habits will change completely. With effective, sustainable solutions, the world will be able to ensure both healthy lifestyles and a healthy planet. So, in the near future, edible worms, crickets, ants, etc. Edible insects will be in great demand as food, as they are high in protein and an environmentally friendly alternative to conventional animal products such as beef and meat. pork.
Furthermore, the difference in nutritional content between edible insect protein powder and conventional protein powder is a key trend driving the market growth. As for production, raising edible insects for protein production requires 8-10 times less land, 5 times less water, and emits 5-10 times less greenhouse gases, which are important factors that are attracting more people and governments’ attention. all over the world. The rise of the alternative proteins market will create a niche for edible insects, which will drive the market growth from 2025 to 2028.
Key Takeaways from Market Research
- The global edible insects market is projected to grow at a CAGR of 18.5% to reach USD 17.6 billion by 2032.
- Edible insects sales grew at a CAGR of 12.2% from 2017 to 2021.
- By product type, all edible insects dominate the market and is estimated to be worth USD 2.1 billion in 2022.
- Europe leads the global market with a 25.9% share in 2021.
- Consumption of edible insects is expected to grow at CAGRs of 24.6% and 18% in East Asia and North America, respectively.
Talk to an analyst:
A competitive landscape
Prominent edible insect suppliers Thailand is unique, Kreja Ento-Food BV, Nordic Insect Economy Ltd., Entomo Farms Ltd., Enviro Flight, LLC, if weExo protein, Protix, Deli Bugs Ltd. and Eat Grub Ltd.
The global edible insects market is primarily characterized by a large number of multinational players controlling the majority of the market share. Edible insect producers are aiming for global expansion and bringing advanced approaches to insect breeding and breeding to increase both productivity and quality. Businesses are investing in research and development operations to implement competitive and flexible insect production and processing technologies.
- In April 2021, Ynsect completed its acquisition of Protifarm, the market leader in natural insect proteins. The integration has increased Ynsect’s mealworm production capacity by adding two new types of mealworm to its offering.
- In October 2021, Aspire Food Group in Canada announced the construction of a new automated plant for the processing of crickets. Aspire’s new facility will produce 9,000 metric tons of edible crickets for human and animal consumption annually.
Segmentation of Edible Insects Industry Research
By insect species:
- Black Soldier Flies
- The real Bugs
- By product type:
According to the form:
- All Frozen
- Fully Dried
According to last use:
- Human consumption
- Animal nutrition
By distribution channel:
- Brand Websites
- e-commerce platforms
- Retail Stores
- Specialty Stores
- Direct Selling
- North America
- Latin America
- East Asia
- South Asia and ASEAN
Quick buy: Edible Insects Market Research Report
Despite challenging economic conditions, the business environment in the edible insects market reflects consolidation in the sector. With the growing preference for edible insects as a whole, companies are offering the same in dried, frozen and raw form.
Businesses also engage in inorganic transactions such as partnerships, acquisitions, and mergers.
- For example, in the US, Ynsect worked with Pure Simple True LLC to launch its first product. The introduction of this product was an important step for the business to expand into the US market.
More valuable ideas about the proposal
In its new offering, Fact.MR presents an unbiased analysis of the global edible insects market, providing historical market data (2017-2021) and forecast statistics for 2022-2032.
The study reveals key concepts based on insect type (black soldier flies, beetles, caterpillars, hymenoptera, orthoptera, true bugs and others), product type (whole, ingredients), form (whole frozen, whole dried, powder), end. usage (human consumption, animal nutrition) and distribution channel (online, offline) in major regions of the world (North America, Latin America, Europe, East Asia, South Asia and ASEAN, Oceania and Middle East and Africa).
Check out more related studies published by Fact.MR Research:
Black Soldier Fly Market: According to a recent study by Fact.MR, the black soldier fly market will witness significant growth during the forecast period of 2021-2031. The growing demand for high protein sources in the feed industry and the growing need for sustainable and affordable nutrition for the same service will provide high growth opportunities for the market.
Fish Oil Market: The global fish oil market is assessed 2.1 USD Bnand is expected to witness a significant growth rate at CAGR 5.5% reach its value 3.6 USD Bn Until 2031. According to the survey, about 8% of adults and 1.1% of children aged 4-17 had recently taken a fish oil supplement. Adoption of fish oil supplements by health conscious consumers is driving the market growth.
Fish Meal Market: The latest published industry analysis on the global fish meal market by Fact.MR, the industry 4.73 USD Bn currently and is expected to witness significant growth at CAGR 6.3% reach the price 8.7 USD Bn Until 2031. In the coming years, the demand for organic fish meal will grow faster than the conventional form.
Vegetable Protein Market: With the growing vegan population, more and more companies are trying to adapt to the changing food culture and are launching more plant-based protein products in the market. Another segment of vegetable protein that is seeing an increase in demand is textured plant proteins.
Protein-rich foods market: The protein-rich foods market has witnessed a paradigm shift in focus from developed regions to developing countries. As for the possibility of static markets in developed countries, players have begun to focus on emerging economies, where changing consumer preferences and increasing disposable income are favorable factors.
Soy Protein Hydrolyzate Market: The global soy protein hydrolyzate market is projected to embark on a positive growth trajectory at value CAGR. 5% During the forecast period 2021-2031. From 2021, Fact.MR expects to be valued above sales of soy protein hydrolysates. 1 USD Bnit is expected to reach even more 1.64 USD Bn by the end of the aforementioned decade.
Rice Protein Market: Enhanced efforts by rice protein manufacturers to introduce new products and commensurately increased demand are expected to drive the market growth, which is expected to exceed the absolute dollar opportunity. 100 USD Mn during the forecast period.
Dried Egg Market: The latest report released by Fact.MR on the global dried egg market predicts that the market will gain more share. 2 USD Bn According to the study, the dried egg market is expected to witness an outstanding CAGR. 8.2% reach the price 4.56 USD Bn Until 2031.
Protein Ice Cream Market: Fact.MR’s latest research shows that the protein ice cream market will grow by double digits during the period 2021-2031. There is an average demand for regular ice cream consumption and a new breed of customers who love nutritious snacks. in the last few years, they have increased the demand for protein ice cream. The increasing penetration of protein ice cream in cafe chains, restaurants and leisure places has led to the expectation of prominent growth paths of the market throughout the forecast period.
A market research and consulting agency with a difference! That’s why 80% of Fortune 1000 companies trust us to make their most critical decisions. While our experienced consultants use the latest technologies to capture hard-to-find insights, we believe our USP is our clients’ trust in our expertise. From automotive and industry 4.0 to healthcare and retail, our scope is broad, but we ensure that even the most niche categories are analyzed. Our sales offices in the USA and Dublin, Ireland. Headquartered in Dubai, UAE. Contact us with your goals and let us be your competent research partner.
US Sales Office:
11140 Rockville Pike
Rockville, MD 20852
Phone: +1 (628) 251-158