Global Edible Insects Market Research Report: Forecast (2024-2030)

Market Definition

Insects that are safe and suited for human consumption are known as edible insects. Insects have long been a staple food and source of protein for people in many different cultures & historical periods. Many different species of insects, including crickets, mealworms, grasshoppers, ants, beetles, and caterpillars, are edible. They can be eaten whole or in many forms, such as dried, roasted, or powdered, and added to foods like protein bars, snacks, or even high-end recipes.

Market Insights & Analysis: Global Edible Insects Market (2024-30):

The Global Edible Insects Market size is estimated to grow at a CAGR of around 25.2% during the forecast period, i.e., 2024-30. The market's growth is driven primarily by the burgeoning requirements for high-protein & low-fat foods worldwide. Besides, the easy availability, high nutritional value, and low-cost production methods associated with edible insects further drive the global market. The increasing number of insect farming practices due to low costs and the rising instances of livestock diseases are other crucial aspects leading to the mounting adoption of insect-based food products globally. Furthermore, massive R&D investments by the leading players in the industry are coming up with innovative products projecting profitable opportunities for the market over the forthcoming years.

Moreover, despite having a positive business outlook, the Edible Insects Industry faces obstacles to investment and innovation due to the lack of well-defined regulatory frameworks. Investors may be hesitant to allocate funds to companies that operate in an unpredictable and unclear regulatory environment. In a similar vein, businesses would find it difficult to comply with legal obligations in the absence of clear regulatory authority, and they might be reluctant to fund R&D projects that try to enhance production methods, create new goods, or carry out nutritional analyses.

Additionally, the adoption of technology is expected to create fresh opportunities for enhancing breeding methods in edible insects. Therefore, governments, business partners, and regulatory agencies work together to address the issue of regulatory uncertainty in the Global Edible Insects Market. To build customer trust & promote market expansion, it is imperative to establish uniform & well-defined rules that guarantee food safety, quality, and labeling requirements.

Also, the growing health consciousness among people and their flourishing awareness about the significance & nutritional benefits of insect-based food augments the growth & expansion of the Edible Insects Industry. Moreover, since insects are richer in protein than other well-known sources, their demand is surging rapidly among the young generation who work out, which, in turn, is anticipated to augment the size & volume of the Global Edible Insects Market during the forecast period.

Global Edible Insects Market Driver:

Rising Awareness about Various Health Benefits of Edible Insects – One of the main factors propelling the Global Edible Insects Market is growing consumer awareness of the numerous health advantages of edible insects. Insects are becoming more popular as alternative protein sources because people are becoming more aware of traditional livestock husbandry's negative effects on the environment and sustainability. In addition, edible insects are a nutrient-dense food choice since they are high in protein, good fats, vitamins, and minerals.

Moreover, compared to traditional livestock, insects require less land, water, and feed, which adds to their allure as a sustainable food source. The demand for insect-based goods is rising globally as people become more aware of the possible health advantages of including edible insects in their diets and are becoming more concerned about environmental sustainability & food security.

Global Edible Insects Market Opportunity:

Surge in Demand for Black Soldier Fly (BSF)-based Products to Present Profitable Opportunities – Emerging regions such as Asia, Africa, and Latin America, are expected to witness exponential growth in dietary patterns in tandem with economic growth, leading to a 70% increase in the demand for Black Soldier Fly (BSF) Based Products by 2050. The demand for BSF products is increasing due to affordable feed costs, as feed costs generally account for 15-20% of the total livestock production costs. Hence, the need for sustainable BSF products has increased interest in using insects as feed (edible) ingredients.

Moreover, the ability of the black soldier fly (BSF), a highly demanded livestock product has rapidly spurred protein meal, which is cheaper than fish meal & soya bean. According to the FDA, when soya bean and fishmeal were replaced with BSF Larvae meal by 10-56% broiler quail, had a satisfactory aroma and nutritional composition, resulting in market growth performance with feed conversion. Thus, rising demand for black soldier flies (BSF)-based products is estimated to present profitable opportunities to the Edible Insects Industry in future years.

Global Edible Insects Market Challenge:

Lack of Clear & Consistent Regulatory Frameworks to Hinder Market Growth – A major obstacle confronting the Global Edible Insects Market is the absence of well-defined and uniform regulatory structures. In numerous regions across the globe, the edible insect industry functions inside a regulatory gray area, in contrast to traditional food sources subject to well-defined rules regarding their cultivation, handling, and dissemination. Businesses that grow, prepare, and sell edible insects face major challenges due to this uncertainty.

Moreover, different regions have inconsistent safety standards because there are no common regulations in place. Therefore, customers are reluctant to accept insects as a food source owing to worries about their safety and quality if there are unclear regulations such as hygienic procedures, food safety, and labeling requirements. Thus, because of this inconsistent approach, businesses are less convinced that they will comply with the various regulatory standards across nations, which further impedes their attempts to expand the Edible Insects Market and engage in international trade.

Global Edible Insects Market Trend:

Increasing Popularity of Biotechnology & Genetic Engineering to be a trending Aspect – Genetic engineering and biotechnology are becoming major trends in the Edible Insects Industry. These technologies present chances to improve several facets of product creation and insect production. The optimization of insect-rearing procedures, including breeding programs targeted at enhancing desired features, including growth rate, nutritional content, and disease resistance, is made possible by biotechnology.

Furthermore, modifying insect genomes to accomplish particular objectives, like raising protein content or changing allergenic qualities, is possible because of genetic engineering tools. Furthermore, biotechnology makes it easier to create unique food products made from insects that have better nutritional profiles and sensory qualities. Hence, biotechnology and genetic engineering are anticipated to become more important in stimulating innovation and expansion in the Global Edible Insects Market as the need for sustainable protein sources rises.

Global Edible Insects Market (2024-30): Segmentation Analysis

The Global Edible Insects Market study by MarkNtel Advisors evaluates & highlights the major trends & influencing factors in each segment & includes predictions for the period 2024-2030 at the global level. In accordance to the analysis, the market has been further classified as:

Based on Insect Type:

• Crickets
• Mealworms
• Black Soldier Flies
• Buffalo’s Worm
• Grasshoppers
• Ants
• Silkworms
• Cicadas
• Beetles
• Caterpillar
• Others

The Crickets insects type segment held the major share of the Global Edible Insects Market in 2023. Crickets are a popular food insect around the world because of their high nutritional content, delicious flavor, and range of culinary uses. They are a desirable choice for consumers looking for nutrient-dense, sustainable food sources as they are high in protein, vitamins, and minerals. Additionally, crickets are becoming more & more popular in a variety of food product categories, such as protein bars, snacks, and baked goods, which is increasing demand from a wide range of customer demographics.

Furthermore, consumers are choosing cricket-based foods over conventional livestock products due to rising knowledge of the environmental benefits of farming this insect, including low greenhouse gas emissions and low resource requirements.

Based on Product Type:

• Whole Insects
• Insect Powder
• Protein Bars

Both Insect powder & protein bars altogether accounted for the largest share of the Edible Insects Market over the past few years, owing prominently to their hassle-free transportation, storage, handling, & application. Insects in powdered form are convenient to consume, easily available worldwide, and can be stored at room temperature. In many countries, people usually consume insect powder by mixing it with various other food items for enhanced taste.

Moreover, the increasing number of health clubs & gyms serving insect powder, the increasing consumer inclination toward fitness & wellness, and the growing requirements of people for highly nutritious & convenient foods, owing to busy lifestyles are other crucial aspects expected to accelerate demand for insect powder globally in the coming years.

On the other hand, gluten-free 'Protein Bars,' mainly preferred by athletes & sports enthusiasts, are expecting a notable growth rate in the global market over the coming years. It is due to the burgeoning awareness among people regarding healthy lifestyles and the growing inclination of many toward ready-to-eat food products owing to changing living standards.

Global Edible Insects Market (2024-30): Regional Projection

Geographically, the Global Edible Insects Market expands across:

• North America
• South America
• Europe
• Asia-Pacific
• The Middle East & Africa

The Asia-Pacific region is dominating the Edible Insects Market in 2024 and is expecting consequential growth during the forecast period. The region's higher growth is attributed to a confluence of factors, including regulatory settings conducive to growth, cultural acceptance, and increasing knowledge of the environmental and nutritional advantages of eating insects.

Edible insects have long been a staple of traditional diets in many Asian nations, such as Thailand, Vietnam, China, etc. These countries respect the nutritional value and accessibility of these insects. The Asia-Pacific Edible Insect Market is poised for further growth & expansion due to this cultural acceptance. Additionally, several Asia-Pacific nations have established explicit legal frameworks and offered incentives for research & innovation to actively assist the Edible Insect Industry's growth.

Global Edible Insects Industry Recent Development:

• 2023: Ÿnsect, a leading player in insect production, created a genotyping chip named Axiom® YNS_Mol1, a world-first for insect breeding and a noteworthy step in the evolution of the selection of larvae lines to produce insect-based proteins.
• 2022: By investing USD 250 million and boosting the production facility of black soldier flies farming in Decatur, Illinois, InnovaFeed, a French company with support from ADM and Cargill, expanded its presence in the edible insect industry.
• 2022: All Things Bugs LLC announced that it had become the first in the US to receive a US patent for its unique production method regarding the use of insects in sustainable food production.

Gain a Competitive Edge with Our Global Edible Insects Market Report

• Global Edible Insects Market Report by MarkNtel Advisors provides a detailed & thorough analysis of market size & share, growth rate, competitive landscape, and key players. This comprehensive analysis helps businesses gain a holistic understanding of the market dynamics & make informed decisions.
• This report also highlights current market trends & future projections, allowing businesses to identify emerging opportunities & potential challenges. By understanding market forecasts, companies can align their strategies & stay ahead of the competition.
• Global Edible Insects Market Report aids in assessing & mitigating risks associated with entering or operating in the market. By understanding market dynamics, regulatory frameworks, and potential challenges, businesses can develop strategies to minimize risks & optimize their operations.