New product developments and trends of Edible Insects Market during 2018-2024
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Edible insects are full of high-quality protein, vitamins, and amino acids. Edible Insects such as beetles, caterpillars, grasshoppers, locusts, crickets, wasps, bees and ants are a nutrient-dense food, high in protein, vitamins, and minerals and offers many potential health benefits. Due to the strong demand for nutritional foods, the global edible insects market reached at a market valuation of USD XX.X Billion in 2018 and is estimated to grow at a CAGR of XX.X% during the forecast period, i.e., 2019-2024.
Market Insights
Growth Drivers – Edible Insects Market
Health Benefits
Insects are nutritious and packed with all essential amino acids, and they have as much calcium as milk and iron as spinach. There are nearly 2,000 edible insects present in the world, and these insects are consumed across the globe. Entomophagy practice is growing strongly around many countries, including China, Africa, Asia, Australia, New Zealand, and some developing regions of Central and South America owing to its health benefits.
Growing Food Security
Scarcities of agricultural land, water, forest, fishery, and biodiversity resources, as well as nutrients and non-renewable energy, are foreseen to encourage the consumption of edible insects in coming years. Edible insect farming is very easy as compared to animal farming, and insect farming needs less soil, less water, and less feed. Edible insect production is likely to increase in the coming years since the world’s resources are diminishing, but the population is growing steadily. Edible insects are poised to become a weapon against food scarcity in the future. As the population is growing enormously, food manufacturers are considering edible insects as the food of the future.
Western Countries are Embracing Edible Insects
World population is poised to surpass 9 billion by 2050, and food production needs to be double to meet that demand. In western countries such as the U.S. & Canada, people have started embracing edible insects in different forms. Even fast-food outlets have started selling edible insect-based food & beverage items. Consumers in western countries are increasingly aware of environmental benefits and need of eating insects, which further have backed the adoption of edible insects in western countries.
Barriers – Edible Insects Market
Low awareness among the population regarding edible insects and its environmental & health benefits is a critical challenge in global edible insect market. Apart from this, the organized market of edible insects is at a growing stage, and major sales is generated through unorganized markets, especially in Asian countries, which is another major issue in global edible insect market.
Market Trends – Edible Insects Market
Organic Insects
With intense hype of organic food, consumers are willing to see more and more food & beverage products with organic labels. In the case of edible insects, consumers hesitate to eat insects, especially in those areas where eating insects is not a common thing. Thus, edible insect producers are growing these edible insects in an organic environment to attract more consumers.
Segmentation Analysis
The edible insects market is segmented in different categories including by product type, by insect type, by application, and by distribution channel. The market is segmented by product type into whole insect, insect powder, and insect meal. Among this segment, the insect powder is expected to capture significant growth rate during the projected period. Global insect powder segment was totaled at USD XXX.X billion in 2018 and is projected to reach USD XXX.X billion in 2024 at a CAGR of XX.X% from 2019 to 2024.
Moreover, based on the application, the edible insect market is further sub-segmented into a dietary supplement, animal feed, confectionery, beverages, and others. Among which nutritional supplement segment is about to register a remarkable growth rate in upcoming years. The report is further breakdown into two more sections including by insect type (beetles, caterpillars, crickets, bees, ants and others) and by distribution channels (online stores and offline stores).
Geographical Analysis
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. When it comes to edible insect market, Asia Pacific is the leader in edible insect market. The Asia Pacific region has acquired significant market shares and is poised to continue its dominance in the coming years. Asian countries such as Thailand, Vietnam, China, Australia, India are the major consumers of insects around the world.
Competitive Analysis
The report also covers detailed competitive analysis of major market players of the global edible insects market, such as Insectéo, Goffard Sisters Ltd., Chapul Cricket Protein, DeliBugs, Eat Grub, Damhert Nutrition nv, All Things Bugs, LLC, EntomoFarms and other major & notable players. Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by business segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
Segmentation
By Product Type
- Whole Insect
- Insect Powder
- Insect Meal
By Insect Type
- Beetles
- Caterpillars
- Crickets
- Bees
- Ants
- Others
By Application
- Dietary supplement
- Animal Feed
- Confectionery
- Beverages
- Others
By Distribution Channel:
- Online Stores
- Offline Stores
By Geography
- North America (U.S. & Canada)
- Europe (Germany, United Kingdom, France, Italy, Spain, Russia and Rest of Europe)
- Asia Pacific (China, India, Japan, South Korea, Indonesia, Taiwan, Australia, New Zealand and Rest of Asia Pacific)
- Latin America (Brazil, Mexico, Argentina and Rest of Latin America)
- Middle East & Africa (GCC, North Africa, South Africa and Rest of Middle East & Africa)
Competitive Landscape
The report profiles various major market players such as
Insectéo
Goffard Sisters Ltd.
Chapul Cricket Protein
DeliBugs
Eat Grub
Damhert Nutrition nv
All Things Bugs, LLC
EntomoFarms
Other Major & Niche Players
The study also provides a company’s positioning and market share in Edible Insects market.
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Table Of Content
Research Methodology
Market Definition and List of Abbreviations
- Executive Summary
- Growth Drivers & Issues in Global Edible Insects Market
2.2. Europe
2.3. Asia Pacific
2.4. Europe
2.5. Middle East & Africa
- Global Edible Insects Market Trends
- Opportunities in Global Edible Insects Market
- Recent Industry Activities, 2018
- Porter's Five Forces Analysis
- Macro-Economic Trends
- PEST Analysis
- Market Value Chain and Supply Chain Analysis
- Global Edible Insects Market Value (USD Million), 2018-2024
- Global Edible Insects Market Segmentation Analysis, By Insect Type
11.2. Market Attractiveness, By Insect Type
11.3. BPS Analysis, By Insect Type
11.4. Beetles Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
11.5. Caterpillars Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
11.6. Crickets Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
11.7. Bees Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
11.8. Ants Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
11.9. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
- Global Edible Insects Market Segmentation Analysis, By Product Type
12.2. Market Attractiveness, By Product Type
12.3. BPS Analysis, By Product Type
12.4. Whole Insect Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
12.5. Insect Powder Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
12.6. Insect Meal Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
- Global Edible Insects Market Segmentation Analysis, By Application
13.2. Market Attractiveness, By Application
13.3. BPS Analysis, By Application
13.4. Dietary supplement Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018- 2024
13.5. Animal Feed Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
13.6. Confectionery Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
13.7. Beverages Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
13.8. Others Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
- Global Edible Insects Market Segmentation Analysis, By Distribution Channel
14.2. Market Attractiveness, By Distribution Channel
14.3. BPS Analysis, By Distribution Channel
14.4. Online Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
14.5. Offline Stores Market Value (USD Million) Forecast & Y-o-Y Growth Analysis (%), 2018-2024
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