The Edible Insects Market is expected to reach $16.39 billion by 2032, at a CAGR of 29% during the forecast period of 2023–2032. The growth of this market is driven by the growing greenhouse gas emissions from the livestock and poultry industries, the high nutritional value of insects, the environmental benefits of edible insects, the rising demand for insect protein in the animal feed industry, and the low risk of transmitting zoonotic diseases with the consumption of edible insects.
However, the lack of a standardized regulatory framework, psychological & ethical barriers to consuming insects as food, and the risk of allergies due to insect consumption is expected to restrain the growth of this market. Emerging economies are expected to hold significant growth opportunities for the players operating in this market. However, a lack of awareness regarding the benefits of insect consumption is expected to remain a major challenge for the growth of this market.
The key players operating in the edible insects market include Ÿnsect (SAS) (France), Protix B.V. (Netherlands), Innovafeed SAS (France), EnviroFlight, LLC (U.S.), Nutrition Technologies Group (Singapore), Entomo Farms (Canada), Hargol FoodTech (Israel), Aspire Food Group (U.S.), All Things Bugs LLC (U.S.), Beta Hatch (U.S.), EntoCube OY (Finland), Armstrong Crickets Georgia (U.S.), Global Bugs Asia Co., Ltd (Thailand), JR Unique Foods (Thailand), BIOFLYTECH S.L. (Spain), TEBRIO (Spain), nextProtein SA (France), Enorm Biofactory A/S (Denmark), Hexafly (Ireland), HiProMine S.A. (Poland), SFly Comgraf SAS (France), and Protenga Pte. Ltd. (Singapore).
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Rising Demand for Insect Protein in the Animal Feed Industry Fuels the Growth of the Edible Insects Market
Developing regions, such as Asia, Africa, and Latin America, are expected to witness exponential growth in their human population and changes in dietary patterns in tandem with economic growth, leading to a 70% increase in the demand for livestock products by 2050. The prices of livestock products are increasing due to the rising feed costs. Feed costs generally account for 60–70% of the total livestock production costs. Fish and soybean meal are the major protein sources for animal feed. However, these sources compete with food production for humans. Moreover, the availability of fishmeal has become limited due to the over-exploitation of marine resources, causing a rapid increase in the cost of feed ingredients. Hence, the need for sustainable alternatives has increased interest in using insects as feed ingredients.
Edible insects have high protein content, and their production has a small ecological footprint. Mass-reared insect species such as the black soldier fly (BSF) have drawn significant attention due to their ability to feed on different substrates, including organic waste streams. The ability of the black soldier fly to convert organic waste into high-quality nutrients has rapidly spurred the development of black soldier fly-based products, such as protein meal, which is cheaper than fishmeal or soybean meal and can be used as an alternative source of protein in pig, poultry, and fish feeds. According to the FDA, when soybean and fishmeal were replaced with black soldier fly larvae meal by 10–56%, broiler quail and chicken meat had a satisfactory taste, aroma, and nutritional composition. In addition, the black soldier fly meal was also used as fish feed for Nile tilapia (in different proportions), which resulted in similar growth performance and feed conversion.
Therefore, animal feed manufacturers have started incorporating black soldier fly meal into their products as an alternative source of protein due to high growth performance and the rising prices of fishmeal and soya meal.
Key Findings in the Edible Insects Market Study:
Insect Powder Segment to Grow with the Highest CAGR During the Forecast Period of 2023–2032
Based on product, the edible insects market is segmented into whole insects, insect powder, insect meal, and insect oil. In 2023, the whole insects segment is anticipated to account for the largest share of the global edible insects market. The easy availability of whole insects, their lower cost compared to processed insects, the lack of insect processing facilities in some parts of the world, and the growing demand for insects in the animal feed industry are some of the key factors driving the growth of this segment.
However, the insect powder segment is slated to register the highest CAGR during the forecast period of 2023–2032 due to consumers’ inclination toward fitness & wellness trends, the rising number of health clubs & fitness centers serving insect powder, the emergence of several start-ups producing insect protein bars & shakes, and busy lifestyles demanding highly nutritious & convenient foods, such as insect powder.
Cricket Segment to Dominate the Edible Insects Market in 2023
Based on insect type, the edible insects market is segmented into crickets, mealworms, black soldier flies, buffalo worms, grasshoppers, ants, silkworms, cicadas, and other edible insects. In 2023, the crickets segment is estimated to account for the largest share of the edible insects market. The large share of this segment is attributed to the high nutritional value and easy farming & processing of crickets, their incorporation into various recipes and food products, and the rising demand for cricket-based food products, such as protein powders, protein bars, and snacks.
However, the black soldier flies segment is slated to register the highest growth rate in the global edible insects market during the forecast period of 2023–2032 due to the growing global aquaculture industry and increasing demand for BSF in aquafeed, the rising demand for alternative proteins from the animal feed industry due to the rising prices of soy meal, the increasing government support for the use of insect meal in livestock feed, and the increasing number of investments by key players in the black soldier fly industry.
Food & Beverages Segment to Grow With the Highest CAGR During the Forecast Period of 2023–2032
Based on application, the edible insects market is segmented into food & beverages and feed. The food & beverages segment is expected to register the highest CAGR during the forecast period of 2023–2032. The growth of this segment is driven by the rising food shortage worldwide, the increasing consumption of processed whole insects as food, and the increasing demand for high-quality alternative protein and amino acid sources among end users.
Human Consumption Segment to Dominate the Edible Insects Market in 2023
Based on end use, the edible insects market is segmented into human consumption and animal nutrition. In 2023, the human consumption segment is expected to account for the larger share of the global edible insects market. Moreover, this segment is slated to register the highest CAGR during the forecast period of 2023–2032. This segment's large market share and rapid growth are attributed to the rising demand for insect-based foods to feed the growing global population, the high nutritional value of insects in human nutrition, and the growing demand for environment-friendly alternative protein sources.
North America: Fastest-growing Regional Market
Based on geography, the edible insects market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2023, Asia-Pacific is expected to account for the largest share of the global edible insects market. Asia-Pacific’s major market share is attributed to factors such as the well-established commercial farming markets for edible insects in the region, especially in Thailand, the wide availability of various insects coupled with substantial production, the positive attitude towards insects as food & feed, the absence of regulatory barriers for using insects as food & feed, and the presence of key market players in the region.
However, the market in North America is slated to register the highest CAGR during the forecast period of 2023–2032. The increasing demand for edible insects in this region is due to the growing demand for environment-friendly protein-rich food. Moreover, increasing familiarity with insects-as-food, decreasing food neophobia, and altering attitudes towards insects, both in general and as food, are the key factors responsible for the rising acceptance of edible insects in North America.
Scope of the Report:
Edible Insects Market Assessment, by Product
- Whole Insects
- Insect Powder
- Insect Meal
- Insect Oil
Edible Insects Market Assessment, by Insect Type
- Black Soldier Flies
- Buffalo Worms
- Other Edible Insects
Edible Insects Market Assessment, by Application
- Food & Beverages
- Processed Whole Insect
- Processed Insect Powder
- Protein Bars & Shakes
- Baked Products & Snacks
- Insect Confectioneries
- Insect Beverages
- Other Food & Beverage Applications
- Animal Feed
- Aquaculture Feed
- Pet Food
Edible Insects Market Assessment, by End Use
- Human Consumption
- Animal Nutrition
Edible Insects Market Assessment, by Geography
- North America
- Rest of Europe
- Asia-Pacific (APAC)
- South Korea
- Rest of APAC (RoAPAC)
- Latin America
- Middle East & Africa
Key Questions Answered in the Report-