REDDING,
Calif., May 2, 2024 /PRNewswire/ -- According to a
new market research report titled, 'Edible Insects Market
by Product (Whole Insect, Insect Powder, Insect Meal, Insect
Oil), Insect Type (Crickets, Black Soldier Fly, Mealworms),
Application (Animal Feed, Protein Bar & Shakes, Bakery,
Confectionery, Beverages), and Geography—Global Forecast to
2033,' the global edible insects market is projected to reach
$17.9 billion by 2033, at a CAGR of
28.6% from 2024–2033, while in terms of volume, the market is
expected to reach 4.7 million tons by 2033, at a CAGR of 36.3% from
2024 to 2033.
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The growth of this market is driven by rising greenhouse gas
emissions from the livestock & poultry industries, the high
nutritional value and 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 restrain the
growth of this market. Furthermore, business expansion in emerging
& developed economies is expected to generate growth
opportunities for the players operating in this market. However,
the lack of awareness regarding the benefits of insect consumption
and limitations in scaling up production are major challenges
impacting market growth.
Currently, most of the protein produced worldwide comes from
livestock meat. Approximately 70% of agricultural land and 30% of
the total land on earth is used to raise livestock to meet the
world's protein needs. Thus, it is neither feasible nor sustainable
to dedicate more land to livestock production. Moreover, the global
livestock industry has already taken an enormous toll on the
environment through the high use of land and water. The livestock
industry emits more greenhouse gases than planes, trains, and
automobiles combined. Considering people's current eating habits,
the adoption of high-quality alternative protein sources, such as
edible insects, has become imperative in order to reduce pollution,
habitat destruction, and the abuse of natural resources.
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According to the Population Reference Bureau (PRB), the global
human population is expected to grow by 75 million annually (1.1%
per year). By 2050, the world population is expected to reach 9.9
billion, increasing by 25.3% compared to ~7.9 billion in 2021. This
population growth is expected to burden the production and supply
of food. Hence, considering the world's growing population and the
increasing demand for traditional meat products, edible insects
could be an effective solution to many of these problems, as
insects are full of protein and rich in essential micronutrients,
such as iron and zinc.
Moreover, an increasing number of health-conscious consumers are
demanding environmentally safe and chemical-residue-free meat,
encouraging meat producers to adopt insect-derived feed, such as
BSFL protein meal. Furthermore, insects are a cheaper alternative
protein source for animal feed compared to fish and soy meal.
Hence, insects contribute to the production of high-quality and
low-priced feed for livestock, poultry, and fish. Breeding insects
has environmental advantages, such as lowering greenhouse gas
emissions, water pollution, and land use. Crickets need 12x less
feed, 15x less land, 2000x less water, and produce 100x lower
greenhouse gas emissions compared to cattle to produce the same
amount of protein. Crickets can be fed food waste, like banana
peels or rice bran.
Thus, edible insects have emerged as an important alternative
source of protein for livestock production and human consumption,
driving demand and boosting the growth of the edible insects
market.
In recent years, the global edible insects market has witnessed
several product launches, expansions, mergers & acquisitions,
and partnerships, agreements, and collaborations. The key players
operating in the global edible insects market are Protix B.V.
(Netherlands), Ÿnsect (SAS)
(France), InnovaFeed SAS
(France), EnviroFlight, LLC
(U.S.), Nutrition Technologies Group (Singapore), Bioflytech S.L. (Spain), Entomo Farms (Canada), Aspire Food Group (U.S.), Global Bugs
Asia Co., Ltd. (Thailand), Entobel
Holding Pte. Ltd. (Singapore),
Entofood Sdn Bhd (Malaysia), SFly
Comgraf SAS (France), Hexafly
(Ireland), F4F SpA (Chile), Protenga Pte Ltd. (Singapore), nextProtein (France), Enorm Biofactory A/S (Denmark), Hargol FoodTech (Israel), All Things Bugs, Llc (U.S.), Beta
Hatch (U.S.), Armstrong Crickets Georgia (U.S.), JR Unique Foods
Ltd. (Thailand), Tebrio
(Spain), and HiProMine S.A.
(Poland).
The edible insects market is segmented by product, insect type,
application, end use, and geography.
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Key Findings in the Global Edible Insects Market
Study:
On the basis of product, the edible insects market is segmented
into whole insects, insect powder, insect meal, and insect oil. In
terms of value, in 2024, the whole insects segment is expected to
account for the largest share of 46% of the global
edible insects market. The large market share of this segment is
mainly attributed to the high adoption of whole insects due to
their easy availability and lower cost compared to processed
insects, the absence of insect processing facilities in some parts
of the world, and the high demand for whole insects in the animal
feed industry. Moreover, in terms of volume, in 2024, the
insect meal segment is expected to account for the largest share of
55% of the global edible insects market.
On the basis of insect type, the edible insects market is
segmented into crickets, black soldier flies, mealworms, buffalo
worms, grasshoppers, ants, silkworms, cicadas, and other edible
insects. In 2024, the crickets segment is expected to account for
the largest share of the global edible insects market. This
segment's large share is mainly attributed to the high
nutritional value of crickets, the ease of farming and processing
them, growing acceptance among consumers, their increasing use in
various food recipes and products, and the rising demand for
cricket-based products such as protein powders, protein bars, and
snacks. However, the black soldier fly segment is expected to
register the highest CAGR of 31.3% during the forecast
period.
On the basis of application, the edible insects market is mainly
segmented into food & beverage and feed & pet food. In
2024, the food & beverages segment is expected to account for
the larger share of the global edible insects market. This segment
is projected to reach a market value of around
USD 7 billion by
2033.
On the basis of application, the edible insects market is
segmented into human consumption and animal nutrition. In 2024, the
human consumption segment is expected to account for the larger
share of 55.4% of the global edible insects market. The
large market share of this segment is attributed to the rising
demand for insect-based foods to feed the ever-growing global
population, the high nutritional value of insects in human
nutrition, and the increasing demand for environmentally friendly
alternative sources of protein.
Based on geography, the edible insects market is divided into
five regions, namely North
America, Europe,
Asia-Pacific, Latin America, and the Middle East & Africa. In terms of value, in 2024,
Asia-Pacific is expected to
account for the largest share of 35% of the global edible
insects market. The Asia-Pacific
edible insects market is estimated to be around USD 6 billion by 2033. Asia-Pacific's significant market share is
attributed to the well-established commercial farming market for
edible insects, especially in Thailand, the wide availability of various
insects coupled with huge production, the positive attitude towards
insects as food & feed, the absence of regulatory barriers to
using insects as food & feed, and the presence of key market
players in the region.
However, North America is
projected to register the highest CAGR of 31.0% during the
forecast period. The growth of this regional market is mainly
attributed to government approval for edible insects to be used in
food and feed, the rising use of BSF for organic waste
valorization, continued expansion by major companies in the edible
insect sector, and the proliferation of end-use industries in the
region.
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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
- Crickets
- Black Soldier Flies
- Mealworms
- Buffalo Worms
- Grasshoppers
- Ants
- Silkworms
- Cicadas
- Other Edible Insects
Edible Insects Market Assessment—by
Application
- Food & Beverage
- Feed & Pet Food
Edible Insects Market Assessment—by End Use
- Human Consumption
- Animal Nutrition
Edible Insects Market Assessment —by Geography
- North America
- Europe
- Netherlands
- Belgium
- France
- Denmark
- Finland
- Germany
- Rest of Europe
- U.K.
- Spain
- Poland
- Ireland
- Sweden
- Italy
- Other European Countries
- Asia-Pacific
- Thailand
- China
- South Korea
- Vietnam
- Japan
- Australia
- Rest of Asia-Pacific
- Malaysia
- India
- Singapore
- Other Countries in RoAPAC
- Latin America
- Middle East & Africa
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