Insect
are often considered as pest for animals and crops. However they are
fundamental part of nature and are a source of food at low cost.
Insects are not merely famine food eaten at times of scarcity or
situation when harvesting of conventional food becomes difficult.
Edible insect as food and feed has emerged as agile issue due to
rising cost of animal protein, food and feed insecurity, growing
population and rising demand for protein among the middle class. The
consumption of insects or entomophagy contributes to positive health
and livelihood.
The
edible
insect market can be segmented by type as- Mealworm,
Grasshoppers, Locusts, Caterpillar, Termites, Beetles and Others.
Moreover it can also be segmented by application type such as- Human
food, Animal feed (Poultry and Aquaculture) and Others.
Geographically the market can be segmented as- North America, APAC,
Europe and Rest of the World (RoW) regions.
Palatability
of insect and presence of edible insects in local food culture are
the driving forces which are shaping the global edible insects
market. Moreover insects are rich source of protein and are low cost
substitute for animal proteins. Lack of legal framework governing the
insect consumption and deficit of networking and distribution channel
among producers are the restraining factors hindering the growth of
edible insects market. Moreover consumer awareness and negative
perception about insect consumption is another growth barrier.
Asia-
Pacific region has shown growth in edible insects sector. Countries
such as China, Bangladesh, India, Malaysia and Sri Lanka contribute
to this growth along with Africa (Rest of the World (RoW)). The
global edible insect market is expected to grow over next six years
with a significant growth rate.
Some
of the key player of the edible insects market are- EnviroFlight,
LLC, Kreca V.O.F., AgriProtein Technologies, Reese Finer Foods Inc,
HaoCheng Mealworm Inc.
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