Edible Insect market size was valued at $293.12 Million in 2023 and is projected to reach $USD 1291.73 Million by 2030, registering a CAGR of 23.7% from 2023 to 2030.
Insects that are consumed by humans and animals for sustenance are considered edible. Insects come in a variety of forms in nature that humans can eat for food and snacks. Insects are being exploited as a source of food and protein due to the growing demand for animal-based food and protein to support big populations. Mealworms, grasshoppers, and crickets are examples of edible insects that are high in protein, vitamins, and minerals, making them a wholesome and sustainable food source. There is an urgent need for effective and environmentally sustainable protein sources as the world's population continues to rise. Insects require less land, water, and feed to generate the same quantity of protein as traditional livestock, meaning they leave a far smaller ecological impact.
The market for edible insects is expanding as people become more conscious of how food production affects the environment. Compared to conventional cattle, insects produce less waste, use less water, and release fewer greenhouse gases, all of which help to create a more sustainable and environmentally friendly food system. Edible insects fit into the narrative of consumers who are drawn to products that reflect their principles of ethical consumption and environmental responsibility. Edible insects' growing popularity can be attributed to the health and well-being movement. In addition to providing a sustainable source of protein, these insects have special nutritional advantages, including high-quality protein, good lipids, and vital vitamins and minerals. The nutritional profile of edible insects becomes a compelling element in their adoption as people become more aware of what they put in their bodies.
The need for alternative protein sources is rising globally as people become more aware of the protein-rich edible insect products available. Conventional protein sources like dairy and beef are linked to issues with the environment such as water use, greenhouse gas emissions, and deforestation. Conversely, insects require less space, water, and other resources to produce because of their great efficiency in turning feed into protein. The food scene is changing, and chefs are experimenting with using edible insects in creative and mouth-watering recipes. Customer acceptance of these insect-based products as a regular component of their diet is increasing as they become more widely available and tasty.
High-quality protein, necessary amino acids, vitamins, and minerals can all be found in abundance in edible insects. Insect farming often uses less space, water, and feed than cattle farming, making it an environmentally benign and sustainable alternative to traditional protein sources. This is consistent with the sports industry's growing focus on ethical and sustainable practices. A balanced, nutrient-dense diet is becoming more and more important to athletes as a way to improve performance, aid in muscle recovery, and preserve general health. In addition to offering a nutrient-dense profile, edible insects broaden the range of available food options. For athletes who might have dietary preferences or limits, this diversity is essential since it enables them to customize their nutrition regimens to achieve particular objectives. Because insect-based products are portable and have a long shelf life, they are a convenient option for athletes who have demanding training and competition schedules and need immediate and long-lasting nutrition.
Edible Insect Market, Segmentation
The edible insect market is segmented based on Insect Type, product, application, and region.
By Insect Type:
The market is anticipated to be dominated by the grasshopper segment throughout the forecast period. Grasshoppers are a wholesome and sustainable food source since they are high in protein, vital amino acids, and minerals. Grasshoppers are becoming more and more popular due to their nutritional profile as the demand for alternative protein sources grows globally. In addition, grasshoppers are better for the environment than conventional cattle since they use less feed and water. Their quick life cycle and high rate of reproduction make production more effective and sustainable. Furthermore, grasshoppers are adaptable in the kitchen and can be simply added to a wide range of recipes, which appeals to customers looking for a variety of protein sources that are also environmentally beneficial.
Product:
The bar category had the biggest share. The advantages of eating insects for the environment and sustainability are becoming more well-known. Since edible insects have a smaller environmental impact than traditional protein sources, they are a desirable substitute because of their high protein, vitamin, and mineral content. By removing the mental barrier associated with eating entire insects, bars provide consumers with a practical and appetizing option to include insects in their diets. In addition, snack bars suit the needs of those who lead busy lives and follow contemporary nutritional trends. Insect-based bars are becoming a popular and environmentally friendly option for customers looking for novel and sustainable protein sources, which is driving the expansion of this market sector.
Region:
Asia-Pacific area is growing significantly. Asia-Pacific nations including China, Thailand, Vietnam, and Cambodia have seen a sharp increase in the eating of edible insects in recent years. These insects are becoming more and more well-liked as a sustainable and wholesome food source because they are high in protein and other vital components. An important factor is the cultural acceptance of eating insects in many Asian countries. It is easier for certain populations to accept insects as a common food item since they have historically been a component of their diets. In addition, interest in edible insects has increased as more people become aware of the advantages insect farming offers the environment, such as lowered greenhouse gas emissions and effective land use.
Some of The Leading/Active Market Players Are-
- Coalo Vally Farms (US)
- Cricket Lab (U.K.)
- Aspire Food Group (US)
- All Things Bugs, LLC (US)
- Beta Hatch Inc. (US)
- JR Unique Foods Ltd., Part (Thailand)
- Global Bugs Asia Co., Ltd. (Thailand)
- Haocheng Mealworm Inc. (China)
- Kreca Ento-Food BV (The Netherlands)
- The Bühler Holding Ag (Switzerland)
- Agriprotien Technologies (South Africa), and other major players.
Key Industry Developments
- In January 2023, Ynsect expanded its reach internationally by building Ynfarm, which is acknowledged as the largest insect farm in the world. An important step in Ynsect's mission to satisfy the rising demand for insect-based products, this strategic expansion intends to improve the company's ability to effectively deliver its products to customers.
- In September 2022, the distribution and marketing of crickets as food are officially formalized by the signing of an MOU by LOTTE Confectionary Co. Ltd. ("LOTTE") and Aspire Food Group Ltd. ("Aspire"). The MOU reaffirms Aspire's wish for LOTTE to serve as its sole distributor for the distribution and sale of goods made by Aspire and LOTTE Confectionary in important European and Asian markets.
Key Findings of the Study
- The global edible insect market is booming, driven by the dominant grasshopper segment.
- Businesses are capitalizing on increasing consumer awareness of environmental sustainability and the nutritional benefits of insect-based protein.
- The Asia-Pacific region shows significant growth potential due to cultural acceptance and rising environmental consciousness.
