A
new study by Transparency Market Research (TMR) presents a
comprehensive analysis of the global market for edible insects.
According to the report, the rise in the awareness level regarding
the nutritional benefits of insect consumption has augmented the
demand for edible insects remarkably in the recent times.
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The
research report, titled “Edible Insects Market - Global Industry
Size, Market Share, Trends, Analysis, and Forecast 2016 - 2024,”
further states that the growing concerns over health among people
across the world are likely to fuel the trend of insect consumption,
resulting in significant growth in this market over the forecast
period. The surge in the use of insects as pet food is also projected
to influence the market’s growth positively in the near future.
For
this study, analysts have examined the global market for edible
insects on the basis of type of insect, application, and its regional
spread. By insect type, this market has been categorized into
locusts, termites, grasshoppers, caterpillars, beetles, and other
insects. Beetles have been seeing high demand and are likely to
remain the most preferred insect for consumption across the world
throughout the forecast period. Grasshoppers are also expected to
witness a steady rise in demand over the next few years due to the
increasing use of dried grasshoppers in pet food.
Based
on application, the report classifies the market into animal feed
(aquaculture and poultry), human food, and other application.
Hitherto, edible insects are mostly utilized in animal feed; however,
due to the growing awareness regarding the nutritional value these
insects add to the regular diet of a human, their use in human food
has also been gaining momentum over the recent years, notes the
study.
North
America, Asia Pacific, Europe, and the Rest of the World have been
identified as the key geographical segments of the global market for
edible
insects in this research report. Asia Pacific has emerged as the
leading consumer of edible insects across the world. Led by Thailand
and China, this regional market is likely to remain dominant during
the forecast period. The growing demand from India, Bangladesh, Sri
Lanka, and Malaysia is also expected to contribute considerably to
this market’s growth over the years to come, states the report.
The
competitive landscape of the worldwide market for edible insects has
also been studied in this report in order to identify the current
market hierarchy. Crik Nutrition, Nutribug, Edible Inc., GetSharp,
Gathr Foods, Bitty Foods, Six Foods, Thailand Unique, Exo Protein,
Chapul Inc., Chapul Inc., EnviroFlight, Kreca, AgriProtein
Technologies, and HaoCheng Mealworm Inc. are some of the key players
operating in this market, states the research study.
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