The Global Market for Edible Insects, 2019-2030: Anticipating a CAGR of 24.4% by Market Value - Growing Population and Decreasing Food Resources are Driving Demand
DUBLIN, March 27, 2019 /PRNewswire/ -- The "Edible Insects Market by Product Type (Whole Insect, Insect Powder, Insect Meal, Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Animal Feed, Protein Bar and Shakes, Bakery, Confectionery, Beverages) - Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
In terms of value, the global edible insects market is expected to reach USD 7,956.7 million by 2030, supported by a CAGR of 24.4% during the forecast period of 2019 to 2030. Also, in terms of volume, this market is poised to grow at a CAGR of 27.8% during the forecast period to reach 732,684.1 tonnes by 2030.
The factors such as growing population and decreasing food resources, increasing demand for protein-rich food, the high cost of animal protein, environment sustainability with production and consumption of edible insects, the high nutritional value of insects, and low risk of transmitting zoonotic diseases are driving the growth of the global edible insects market.
However, non-standardized regulatory framework across the globe, lack of awareness, psychological and ethical barriers, and allergies due to insect's consumption are the major factors restraining the growth of this market to some extent.
Based on insect type, crickets commanded the largest share in 2018 and expected to dominate the global edible insects market during the forecast period. The growth of this type is primarily attributed to its high nutritional value, easy farming, easy processing, and growing use in various food recipes & products. Also, increasing demand for cricket-based products, such as protein powder, protein bars, and snacks, among others further supports the growth of this segment.
Based on application, the insect protein bars and protein shake application segment is expected to grow at the highest CAGR during the forecast period. The fast growth of this segment is mainly attributed to the increasing inclination of young generation towards the fitness and wellness, the rising number of health clubs and fitness centers, and busy lifestyle and swelled disposable income which demands highly nutritious and convenient food.
An in-depth analysis of the geographical scenario of the industry provides detailed qualitative and quantitative insights about the five major geographies (North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa) along with the coverage of major countries in each region. Asia-Pacific commanded the largest share of the global edible insects market in 2018, followed by Europe and North America. The largest share of this region is mainly attributed to the insect's diversity and huge production, positive attitude towards the insect as food and feed, and no regulatory barrier to use insect in food and feed.
The key players operating in the global edible insects market are Kreca Ento-Food Bv (A Proti-Farm Company), Entomo Farms, Haocheng Mealworm Inc, Agriprotein, Ynsect, Deli Bugs Ltd., Hargol Foodtech, Aspire Food Group, All Things Bugs, LLC, Tiny Farms, Beta Hatch, Entocube, Nordic Insect Economy, Rocky Mountain Micro Ranch, Coalo Vally Farms, Armstrong Cricket Farm Georgia, Cowboy Cricket Farms, Global Bugs Asia Co., Ltd., Jr Unique Foods Ltd., Part, and The Cricket Lab among others.
Key Topics Covered
1. Introduction
1.1. Market Ecosystem
1.2. Currency and Limitations
1.2.1. Currency
1.2.2. Limitations
1.3. Key Stakeholders
2. Research Methodology
2.1. Research Process
2.1.1. Secondary Research
2.1.2. Primary Research
2.1.3. Market Size Estimation
3. Executive Summary
4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Growing Population and Decreasing Food Resources
4.2.2. High Nutritional Value of Insects
4.2.3. Environmental Sustainability with Production and Consumption of Edible Insects
4.2.4. Low Risk of Transmitting Zoonotic Diseases
4.3. Restraints
4.3.1. Non-Standardized Regulatory Framework
4.3.2. Lack of Awareness
4.3.3 Psychological and Ethical Barriers to Insects as Food
4.4.4. Allergies due to Consumption of Insects
4.4. Regulatory Analysis
4.4.1. North America
4.4.1.1. U.S.
4.4.1.2. Canada
4.4.2. Europe
4.4.2.1. Belgium
4.4.2.2. Denmark
4.4.2.3. Finland
4.4.2.4. Germany
4.4.3. Asia-Pacific
4.4.4. Rest of World
4.5. Pricing Analysis, by Product Type
4.5.1. Introduction
4.5.2. Whole Insects
4.5.3. Insect Powder
4.5.4. Insect Meal
5. Global Edible Insects Market, by Product Type
5.1. Introduction
5.2. Whole Insects
5.3. Insect Powder
5.4. Insect Meal
6. Global Edible Insects Market, by Insect Type
6.1. Introduction
6.2. Crickets
6.3. Black Soldier Flies
6.4. Mealworms
6.5. Buffalos
6.6. Grasshoppers
6.7. Ants
6.8. Silkworm
6.9. Cicadas
6.10. Others
7. Global Edible Insects Market, by Application
7.1. Introduction
7.2. Processed Whole Insects
7.3. Animal and Pet Feed Products
7.4. Processed Insect Powder
7.5. Insect Protein Bars and Protein Shakes
7.6. Insect Baked Products and Snacks
7.7. Insect Confectioneries
7.8. Insect Beverages
7.9. Others
8. Global Edible Insects Market, by End Use
8.1. Introduction
8.2. Human Consumption
8.3. Animal Nutrition
9. Geographic Analysis
9.1. Introduction
9.2. North America
9.2.1. U.S.
9.2.2. Canada
9.3. Europe
9.3.1. The Netherlands
9.3.2. Belgium
9.3.3. France
9.3.4. U.K.
9.3.5. Denmark
9.3.6. Finland
9.3.7. Germany
9.3.8. Rest of Europe
9.4. Asia-Pacific
9.4.1. Thailand
9.4.2. China
9.4.3. South Korea
9.4.4. Vietnam
9.4.5. Rest of APAC
9.5. Latin America
9.6. Middle East and Africa
10. Company Profiles (Includes Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
10.1. Kreca Ento-Food BV (A Proti-Farm Company)
10.2. Entomo Farms
10.3. Haocheng Mealworm Inc.
10.4. Agriprotein
10.5. Ynsect
10.6. Deli Bugs Ltd.
10.7. Hargol Foodtech
10.8. Aspire Food Group
10.9. All Things Bugs LLC
10.10. Tiny Farms
10.11. Beta Hatch
10.12. Entocube
10.13. Nordic Insect Economy
10.14. Rocky Mountain Micro Ranch
10.15. Coalo Vally Farms
10.16. Armstrong Cricket Farm Georgia
10.17. Cowboy Cricket Farms
10.18. Global Bugs Asia Co. Ltd.
10.19. Jr Unique Foods Ltd.
10.20. The Cricket Lab
For more information about this report visit https://www.researchandmarkets.com/research/srb6m8/the_global_market?w=5
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