Edible
insects have gone through a huge transition from being famine food to
a food included in the daily diet. At present, insects are not just
consumed during scarcity of conventional food products but are also
part of the food culture of many countries. Edible insects are not
only used as human food but also as animal feed due to the presence
of amino acids and essential minerals in them.
Edible
insects such as ants, wasps, bees, flies, scale insects, termites,
cockroaches, crickets, beetles, and grasshoppers are rich sources of
nutrition for poultry. By type, the global edible insects market is
segmented into beetles, termites, caterpillar, locusts, grasshoppers,
mealworm, and others. Based on application the market is classified
into animal feed (aquaculture and poultry), human food, and others.
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The
research report provides an in-depth analysis of the growth
trajectory of the global edible insects market and the opportunities
that are likely to benefit the vendors of edible insects in future.
It evaluates the key segments and highlights their share in the
global edible insects market. The report further delves into the
competitive landscape of the market and provides information about
the degree of barriers to entry and exit in the market by utilizing
the Porter’s five forces analysis. The study also presents
projections on the volume and revenue growth of the global edible
insects market. The dynamics that are likely to restrain or drive the
growth of the market are also mentioned in the report.
The
growth of the global edible insects market can be attributed to the
increasing demand for food products with high protein value among
middle class consumers and the rising population across the world.
Feed and food insecurity and the high cost of animal protein are
factors that have lifted the consumption of edible insects as feed
and food. Entomophagy or consumption of insects is considered to have
a positive impact on the livelihood and health of consumers.
The
global edible
insects market is anticipated to be steered by the growing
practice of consuming edible in various local food cultures across
the globe. In many developing countries, insects are an important
source of food supplement for malnourished children as they can be
easily digested. In Europe, the demand for edible insects is
considerably high owing to the minimal risk of disease transfer as
compared to animals and the presence of micronutrients and nutrients
such as fatty acids, zinc, selenium, phosphorus, manganese,
magnesium, iron, and copper.
However,
the dearth of distribution and networking channels and absence of a
legal framework regarding the consumption of edible insects are
factors that are likely to inhibit the growth of the global edible
insect market. Furthermore, negative perceptions about insect
consumption among consumers and lack of awareness are also likely to
impede the growth of the market over the forthcoming years.
The
global edible insect market is segmented into Europe, Asia Pacific,
North America, and the Rest of the World. Asia Pacific emerged as the
leading region in terms of consumption of edible insects. Countries
such as Sri Lanka, Malaysia, India, Bangladesh, and China are the
major consumers of edible insects in the region. The edible insect
market in Africa is also expected to witness strong growth owing to
the demand for edible insects for nutritional value.
Leading
companies operating in the global edible insect market are focusing
on large scale publicity of their products and innovative packaging
for increasing their consumer base. Some of the companies mentioned
in the report are HaoCheng Mealworm Inc., Reese Finer Foods Inc.,
AgriProtein Technologies, Kreca V.O.F., LLC, and EnviroFlight.
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