Transparency
Market Research (TMR) announces a new report in its extensive food
and beverage industry intelligence catalog. The report examines the
global
edible insects market and presents eight-year forecasts for the
market’s development till 2024. The report is titled ‘Edible
Insects Market - Global Industry Size, Market Share, Trends,
Analysis, and Forecast 2016 – 2024.’
Entomophagy,
or the consumption of insects for food, is an expanding field and is
gaining importance due to the rising awareness about its various
benefits. Insects have traditionally been considered as pests in most
human societies, and the global spread of the idea of consuming
insects as even a novelty food item, let alone as a staple, is
relatively recent. While insects have sometimes been consumes as
famine or emergency food, the rising global population means that
insects may need to become the food of the future.
The
increasing monetary and environmental costs of raising conventional
meat-producing animals such as cattle, swine, and chicken are the
major driver for the global edible insects market. Edible insects
such as locusts have a much higher protein percentage in their bodies
than any conventionally consumed animals. This leads to much more
efficient use of animal feed into meat; for instance, one kilogram of
feed produces 12 times more protein from edible insects than from
cattle.
Cattle
and other conventional dietary favorites also cause much more
environmental damage than edible insects due not only to their higher
consumption of feed but also higher excretion of greenhouse gases
throughout the production chain. The difference between the water
consumption of edible insects and conventional livestock is also
conspicuous, while many species of edible insects have evolved to be
drought-resistant, which means their water consumption is negligible
in global terms.
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Further
research in the field of edible insects could also lead to the
generation of genetically modified species of insects that require
even less water than usual. Many edible insects can also be raised on
little more than the waste products generated by other livestock,
which is a major driver for the global edible insects market. Edible
insects can also be healthier than traditional meats, as they contain
little fat and high levels of micronutrients and vital minerals such
as iron and zinc.
On
the other hand, the palatability of insects has been the key issue
for the global edible insects market, with consumers choosing to opt
for the tastier and better established conventional protein sources
instead. However, the presence of entomophagy in several local
cultures is helping raise awareness about the palatability of edible
insects, which could be a key factor in the global edible insects
market’s growth in the coming years.
Regionally,
Asia Pacific countries such as India, Sri Lanka, Bangladesh, China,
and Malaysia have contributed immensely to the global edible insects
market in recent years. Southeast Asian and African countries are
expected to remain the major regional players in the global edible
insects market in the coming years due to the presence of several
insectivorous peoples in these regions.
In
terms of the global edible insects market’s competitive dynamics,
the report profiles key players such as EnviroFlight LLC, AgriProtein
Technologies, HaoCheng Mealworm Inc., Reese Finer Foods Inc.
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