Protein
is not only a must for those who build muscles but is also essential
for a human body conducting daily life, as it is a vital component of
every cell in the body and is used to build and repair tissues. And
certain insects make for a delicious protein-rich diet. As the
awareness regarding the edible insects expands, the demand in the
market for the same is projected to expand at a formidable CAGR
during the forecast period of 2016 to 2024, according to a recent
business intelligence study by Transparency Market Research (TMR).
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For
this research report, titled “Edible Insects Market - Global
Industry Size, Market Share, Trends, Analysis, and Forecast 2016 –
2024,” extensive study was conducted by the analyst who utilized
industry standard methodologies, which included primary and secondary
assessments, compilation of data from reliable sources, and
interviews with industry experts. The report has been developed to
aid as a business tool for a pool of clientele including growers of
edible insects, importers, exporters, and suppliers of edible
insects, government, research organizations, and universities, and
other industry bodies.
The
report includes chapters that segments the market for edible insects
into smaller aspects and throws light on the magnitude of demand that
can be expected out of different regions and countries. Figurative
data for each of the segments and regions has been provided in terms
of US dollar million. The report also analyzes different factors such
as drivers, restraints, and challenges that will determine the future
of the edible insects market as well as identifies some of the trends
that are emerging.
Expanding
awareness level among the urban populations regarding the nutritious
values of insects in terms of human consumption, availability of raw
materials and transportation methods, and mushrooming of
organizations who farm these specific insects are some of the key
factors driving the demand in the global edible insects market. On
the other hand, strong lack of knowledge outside the geographical
boundaries, limitation in technology, and lack of a clear regulatory
are some of the obstructing hindering the prosperity of this market.
Based
on product type, the market for edible insects can be segmented into
grasshopers, locusts, and crickets, caterpillars, beetles, bees,
wasps, and ants, sacle insects and true bugs, and others. As of now,
beetle edible bugs account for the majority of the demand share,
primarily gaining traction from customer’s shift off protein from
other sources such as beef and chicken. In addition to protein,
edible insects also contain essential amino acids, and product
innovation by the players is promising great for the future of this
market. Application-wise, the market can be bifurcated into snacks,
bars, flours, and others.
Geographically,
China and Thailand currently dominate the demand in terms of
countries, making Asia Pacific the key region for the stockholders
connected to the value chain of the edible
insects market.
In Thailand alone, more than 200 different bugs are consumed! The
European edible insects market is driven by the countries of the
U.K., France, and Netherlands.
Kreca,
EnviroFlight, HaoCheng Mealworm Inc., and AgriProtein are some of the
notable players in the global edible insects market.
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