Market Overview
Edible insects are particularly those insects, which are not harmful and are considered safe for human consumption. These insects are rich in protein, vitamin, and amino acid content. Also, they do not produce toxic gases such as ammonia, which is harmful to the environment.
These insects are widely used in preparation of food & beverages, and animal feed. Some of the edible insects used in food industry are caterpillars, bees, ants, and wasps, beetles, scale insects, grasshoppers, crickets and locusts, and mealworm.
Increasing preference for natural ingredients in food & beverage products has surged the demand for edible insects in the global market. Edible insects contains high amount of protein, fibre, energy, minerals, vitamins, and fatty acids, which has shown a high inclination towards the edible insect’s products.
Furthermore, growing environmental impact on the crop field by the use of chemical fertilizers has surged the demand for sustainable food owing to low environmental impact, which is likely to increase the global edible insects market over the review period.
Competitive Landscape
The major players in the edible insects market
- Nordic Insect Economy Ltd. (Finland)
- Thailand Unique (Thiland)
- Haocheng Mealworms Inc. (China)
- Chapul Inc. (U.S.)
- Nutribug Ltd. (U.K)
- Bugsolutely Ltd. (Thiland)
- Eap Group, Sarl (France)
Market Segmentation
Edible insects are segmented on the basis of type, which includes caterpillars, bees, ants and wasps, beetles, scale insects, grasshoppers, crickets and locusts, mealworm, and others. Among all, beetles hold the major market share followed by crickets. Edible beetles are rich source of protein and serves as a better alternative for chicken and beef. Also, extensive use of edible cricket and mealworm in preparation of snack bar, protein bar and energy bar is driving the growth of the edible insects in this segment.
On the basis of the application, the edible insects market is segmented into food & beverages, bakery products, savory snacks, animal feed, and others. Increasing use of edible insects in the savory snacks is dominating this segment owing to presence of high protein, vitamin, potassium, zinc, calcium, and amino acid content. Furthermore, rising demand for convenience food and savory snacks is adding fuel to the growth of the global edible insects market over the review period.
On the basis of the distribution channel, the market is segmented into the store-based and non-store based distribution channel. However, the store-based distribution channel is dominating the market based on the one-stop shopping experience.
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Regional Analysis
The global edible insects market is segmented into North America, Europe, Asia Pacific, and rest of the world (RoW). Asia Pacific is dominating the edible insects market followed by rest of the world. Thailand is a leading consumer of edible insects owing to increasing awareness about the benefits of consuming edible insect products. Also, mounting awareness towards insect farming is considered to be the key driving factor in this region.
Furthermore, increasing demand for natural ingredients in convenience food in Asia Pacific countries like China, India, and Japan are likely to boost the growth of the edible insects market during the review period. Additionally, Brazil and South Africa are experiencing higher consumption of edible cricket & beetle insects in food preparation, which is expected to drive the global edible insects market.
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