Edible Insects Market Trend

Global Edible Insects Market size was USD 16.35 billion in 2023 and the market is projected to touch USD 57.63 billion by 2032, at a CAGR of 17.06% during the forecast period.

Insects for human consumption are called edible insects and include crickets, mealworms, grasshoppers, and ants. These bugs are now valued for their health benefits, resource use, and effects on the environment compared with conventional agriculture animals. Due to the increasing rate at which food insecurity and environmental degradation is looming large, entomophagy is one way of obtaining protein food with even lesser space and water, feed than what is required in producing other animals.

Its market is growing rapidly because of more and more consciousness about the nutritional efficiency of insects as they are containing protein, vitamins, and minerals. Another argument is that insects you are also a better solution in terms of greenhouse gas emissions and feed them on organic waste thus solving the problem of unutilized food substances. As indicated by the above studies, there is an increasing trend in the consumption of edible insects in several places due to changing consumer preferences and approved technologization and legalization of the food processing industry. Therefore, the edible insects market around the world is expected to grow rapidly within the next few years due to prospects in many food sectors as well as in animal feed. Besides the nutritional purposes, this market shift also contributes to better and more sustainable food solutions, so edible insects are solve future food issues.

Edible Insects Report Scope and Segmentation.

Dynamic Insights

One of the key factors is the need for other forms of protein, especially given the looming world’s population growth. While consuming insects offer 65 percent less dependent on land, 82 percent less dependent on water, and 81 percent less dependent on feed than conventional livestock. Further, the benefits of consuming insects are that these nutritionally rich insects are source of protein, vitamin and mineral. The various benefits of consuming the edible insects are slowly getting to the conscience of the consumer through awareness and the uptake of edible insects hence the increased demand.

However, the market also has its challenges. There are restrictions and prohibitions, there are existing or potential cultural taboos for some people in some countries, where they do not eat insects. One of the important barriers to market development is a lack of knowledge of edible insects as well as their usefulness in terms of safety and nutrient content. Further, the issues related to cleanliness and the conditions for their product processing are crucial to meet the needs of every buyer. Nevertheless, novel trends including the use of insects for making protein powder, Insect-based snacks, and other insect-based foods are being realized because the food industry is struggling to find options for new protein products. These trends, together with a transition towards the more sustainable production of food products, suggest the further development of the growth and investment prospects for the edible insects market.

Drivers Insights

• Sustainability and Environmental Benefits

One of the most significant drivers for the global edible insects market is the increasing emphasis on sustainability in food production. Edible insects are highly efficient in converting feed into protein, requiring significantly less land, water, and energy compared to traditional livestock. For instance, crickets require about 12 times less feed than cattle to produce the same amount of protein. As the world grapples with climate change and resource depletion, consumers and manufacturers are turning to insects as an eco-friendly protein source. This shift aligns with the broader trends in sustainability, promoting a more resilient and environmentally friendly food system, thereby increasing market demand.

• Nutritional Value and Health Benefits

Diversity of nutrition is yet another driving force behind the market expansion. Edible insects contain high-quality protein and are extremely rich in essential amino acids, vitamins-such as B12 and riboflavin-and minerals, which include iron and zinc. Thus, these insects make an attractive option for health-conscious consumers who are in search of alternative protein sources. Moreover, with greater awareness of the positive contribution of high-protein diets among athletes and those fit, edible insects have gained popularity. Their presence in other food products-store-bought protein bars and snacks-will only make them more approachable and wholesome for a larger audience.

Restraints Insights

• Cultural Acceptance and Consumer Perception

A significant restraint for the edible insects market is the cultural perception surrounding insect consumption. In many Western countries, the idea of eating insects is met with resistance and disgust, as entomophagy is not a traditional practice. Overcoming this ingrained bias requires substantial efforts in education and marketing to shift consumer attitudes and highlight the benefits of insect consumption. Without widespread acceptance, market penetration in these regions may be slow, limiting the overall growth of the industry.

• Regulatory Challenges

The regulatory policies governing edible insects' production and distribution represent another serious restraint on their producing countries. Not every country has the same food safety regulations, labeling requirements, and production standards for insect-based foods. These conflicting regulations can be hindering barriers for manufacturers, slowing down the market forces putting pressure on new products. Compliance assurance with safety and hygiene standards is paramount for consumer trust and ultimately product acceptance. Clear and consistent regulatory frameworks will be needed when the industry matures to hasten growth.

Opportunities Insights

• Innovation and Product Development

The edible insects market is seen as an opportunity to innovate and develop products. As consumers become acclimatized to insect food, the demand for varied and convenient insect-based products is increasing. This suggests opportunities for firms to generate novel food items like protein snacks, flour, and other supplements that contain insect protein. Innovations in processing technology also lead to improvements in the sensory attributes of insect products, which could make them commendable for wider audience appeal. The development of such products would not only attend to the niche markets but might also help develop mainstream acceptance.

Segment Analysis

• By Product

The edible insects market is segmented by product, which includes grasshoppers, bees, wasps, ants, scale insects, beetles, caterpillars, and tree bugs. Each insect has a different nutritional profile and culinary application. The grasshopper is one of the most widely consumed edible insect species due to its high protein content and palatable taste. Honey and protein-rich larva from bees and wasps are consumed in many different meals. Ants have a tangy flavor and are loved in different regions. Scale insects such as cochineal are known mainly for their color and can be found in foods and cosmetics. Beetles, especially mealworms, are generally preferable because of their efficient feed conversion as a sustainable source of protein. Caterpillars have long been eaten in many cultures, providing protein and other nutrients. Tree bugs are relatively exotic foods available in specific countries, with each type of tree bug being appreciated for its distinctive flavor or texture.

• By Application

The market can also be segmented by application, primarily including protein bars, flour, and snacks. Protein bars are increasingly popular among health-conscious consumers and athletes seeking convenient, high-protein snacks. The inclusion of insect protein in these bars not only enhances their nutritional value, but is also in keeping with growing trends toward sustainable eating. Another innovative application is insect flour, formed by grinding various insect species into a fine powder. This flour can be incorporated into various cooking and baking dishes, presenting a nutritious alternative to conventional flours while promoting sustainable food practices. Snacks made of edible insects, such as chips or roasted insects, are gaining an increasing foothold among crunchy, flavourful alternatives to conventional snack foods. These applications underline the flexibility of edible insects within the food industry, meeting the needs of diverse consumers with the backdrop of promoting sustainable sources of protein.

• By End-Use

The edible insects market is segmented by its end-use such as human consumption, animal feed, and agricultural use. Human consumption is a big wheel driving the market as consumers look for nutrition- and sustainability-attuned food. Edible insects, as an ingredient in food products, are gaining ground with the wider audience keen on alternative protein sources. The use of edible insects in animal feed is picking up, especially oils and aquaculture sectors, presenting protein-packed food supplements for livestock. The nutritional value of animal feeds is improved with this and contributes toward an ecologically safe method of livestock farming. Furthermore, in agriculture, insects work as natural pest control as well as soil enhancers. They can be included in organic farming to restore soil health and cut down on dependency on chemical fertilizers.

Regional Analysis

In Asia, particularly Thailand, China, and Vietnam, edible insects have formed a part of the traditional diet for centuries. The variety of insects present in these regions, which include crickets, grasshoppers, and mealworms, ensures that there is an established supply chain for harvesting and processing. Interest in sustainable sources of food further boosts the Asian market, as consumers and food manufacturers seek alternatives to traditional sources of protein.

North America and Europe are new entrants in the edible insects market, led by rising health consciousness and sustainability trends. Although consumption of insects was not historically common in these regions, growing awareness of the environmental benefits of edible insects is changing consumer perceptions. Companies are innovating with insect-based snacks, protein bars, and flour in mainstream markets. Regulatory frameworks for safe commercialization of edible insects are evolving in the regions, which would undoubtedly create a favourable environment for the development of markets in these regions. Africa and Latin America also look promising-despite some differences among regions-where traditional practices related to the consumption of insects exist. Insects are being viewed as viable options to counter food security concerns, particularly from the angles of malnutrition.

Competitive Landscape

The key players in the market include established food manufacturers all the way to start-ups dealing solely with insect farming and processing. Exo Protein, Cricket Flours, and Ynsect have succeeded in launching protein bars, snacks, and flours made from edible insects. These companies are riding on their food science and technology expertise to produce very high-quality, tasty insect-based products that have a broader appeal with the consumers.

Aside from these companies, many more small and start-up firms are emerging, making competition much more varied. Those companies focus on niche markets predominantly targeted at health-conscious consumers or specialty diets, which in return, gives those producers a sense of uniqueness within the market. Many companies also invest in research and development or try to improve efficiencies in production and newer species of insects for human consumption. Besides, food manufacturers, retailers, and research institutions are increasingly forging alliances and collaborations as a common strategy to boost distribution and expand market reach. Many other corporate strategies are emerging in recent years as regulatory frameworks are modified to accommodate the commercialization of edible insects, giving rise to dynamic and competitive marketplaces driven by players that continuously reflect changing consumer preferences and sustainability goals.

List of Key Players:

• Insecteo
• Eddiebug
• Bugsy Bros
• Crickester
• Beetle Jelly
• Bug foundation
• Bugs in Mugs
• Gran Mitla
• Insectables
• Haocheng  

Recent Developments:

• In January 2024, EnviroFlight LLC, based in the U.S., formed a partnership with Entocycle, a U.K. provider specializing in insect farms and farming technology. Together, they aim to develop and test Entosight Neo, Entocycle's innovative breeding technology solution designed for counting and dosing neonates, with the goal of enhancing production efficiencies.
• Oct 2023, Tyson Foods, Inc., a leading global food company, has finalized a dual investment agreement with Protix, the foremost company in the insect ingredients sector. This strategic investment aims to promote the growth of the emerging insect ingredient industry and enhance the use of insect-based solutions to produce more efficient and sustainable proteins and lipids for the global food system. By leveraging Tyson Foods' extensive scale, expertise, and network alongside Protix's technological advancements and market leadership, the partnership seeks to address current market demands and scale up the production of insect ingredients.

Global Edible Insects Report Segmentation:

Objectives of the Study

The objectives of the study are summarized in 5 stages. They are as mentioned below:

• Global Edible Insects size and forecast: To identify and estimate the market size for global Edible Insects market segmented By Product, By Application, By End-use, and by region. Also, to understand the consumption/ demand created by consumers between 2024 and 2032.
• Market Landscape and Trends: To identify and infer the drivers, restraints, opportunities, and challenges for global Edible Insects
• Market Influencing Factors: To find out the factors which are affecting the market of global Edible Insects among consumers.
• Company Profiling:  To provide a detailed insight into the major companies operating in the market. The profiling will include the financial health of the company's past 2-3 years with segmental and regional revenue breakup, product offering, recent developments, SWOT analysis, and key strategies.