Press Release

Global Edible Insects Market Size to Expand at a CAGR of 25.2% Through 2030

The Global Edible Insects Market size is projected to grow at a CAGR of around 25.2% during the forecast period, i.e., 2024-30, cites MarkNtel Advisors in their recent research report. The growing health consciousness among people & their mounting inclination toward high-protein & low-fat food products are the key aspects driving the Edible Insects Market. Moreover, the high nutritional value of edible insects, coupled with their easy availability & low-cost production, is further boosting the market.

In addition, the surging prevalence of livestock diseases and an upsurge in insect farming practices are also augmenting the demand for insect-based food globally. Besides, the increasing awareness among people about the various health benefits of edible insects is further propelling the growth of the global market. Insects are richer in protein than other well-known sources, owing to which the young generation who work out & athletes are inclined toward insect-based food products across the globe. Hence, all these aspects project remunerative prospects for the Global Edible Insects Market in the coming years.

Moreover, the Edible Insects Market is transforming because of biotechnology and genetic engineering. These developments are making it possible to create unique insect strains with desired characteristics, including increased protein content, quicker growth rates, and better feed conversion efficiency. Researchers and companies can customize insect species to satisfy certain market demands, such as optimal nutritional profiles or increased production yields, by selectively breeding or genetically modifying insects.

Additionally, biotechnology methods are making it easier to produce food products and ingredients based on insects on a large scale through fermentation processes, providing more economical and environmentally friendly options to conventional insect farming techniques. Consequently, biotechnology is propelling innovation and expansion in the edible insect industry, opening up fresh avenues for sustainable protein production, and tackling issues related to global food security, further states the research report, “Global Edible Insects Market Analysis, 2024.”

Global Edible Insects Market Segmentation Analysis

Crickets Insects Type Segment to Dominate the Edible Insects Industry

Based on insect type, the market is further bifurcated into Crickets, Mealworms, Black Soldier Flies, Buffalo's Worm, Grasshoppers, Ants, Silkworms, Cicadas, Beetles, Caterpillar, and Others. Among them, the crickets segment has acquired a considerable market share of the Global Edible Insects Market in recent years, and is anticipated to gain swift momentum during the forecast period as well.

Crickets have become one of the most well-liked and extensively eaten edible insect species. They are a nutrient-dense food source since they are high in protein, vitamins, minerals, and good fats. Their popularity is partly fueled by their mild, nutty flavor, which many customers find pleasant. Additionally, compared to other edible insects, crickets are comparatively simple to raise on a farm, needing little room, water, and feed. The commercial availability and affordability of cricket-based products are partly attributed to their scalability and production efficiency.

Asia-Pacific to Present Bright Growth Prospects

The Global Edible Insects Market is dominated by the Asia-Pacific region, as in many Asian nations, the acceptance of insect-based meals is rooted in historical consumption patterns and cultural norms. As a great source of nourishment, insects have been included in the diets of many Asian nations throughout history. The region's general acceptance of edible insects as a food source has been made easier by this cultural familiarity and acceptance.

Moreover, the region's dominance in the Edible Insects Industry can be attributed to the existence of well-established supply chains and insect farming operations in nations like China, Vietnam, and Thailand. Together, these elements have established the Asia-Pacific region as a major engine of investment, innovation, and market expansion in the Global Edible Insects Market.

Global Edible Insects Market Competitive Landscape

With strategic initiatives, such as mergers, collaborations, and acquisitions, the leading market players, including 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 looking forward to strengthening their market position.

Key Questions Answered in the Research Report

1. What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
2. What are the trends influencing the current scenario of the Global Edible Insects Market?
3. What key factors would propel and impede the industry across the globe?
4. How has the industry been evolving in terms of geography and solution adoption?
5. How has the competition been shaping across the regions?
6. How has the buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2019-30?
7. Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?