Edible Insects For Human Consumption Market
Global Market Study on Edible Insects for Human Consumption: Rising Popularity as Low-cost & Healthier Alternative to Conventional Protein Sources
Edible Insects for Human Consumption Market Segmented By Beetles, Caterpillars, Hymenoptera, Orthoptera, True Bugs Insects with Steam or Fried, Raw, BBQ whole and Drinks, Insect Confectionery, Snacks & Baked Products
The content of protein in edible insects is twice as compared to any traditional protein products that are animal-based or plant-based. Moreover, edible insects are high in vitamin B12, fiber, iron, omega 3 and 6, protein, vitamins & minerals, healthy fatty acids and antioxidants, and many other micronutrients, and are a great alternative for meeting daily nutritional requirements.
Currently, manufacturers in the edible insects for human consumption market space are focused on utilizing these characteristics as a strength to market their edible insect products. In addition, manufacturers are also participating in national and international exhibitions to promote the benefits of consuming edible insects.
Some of the companies producing pure protein powders are focused on promotion through advertisements, and by appointing athletes and sportspersons as ambassadors of their products and brands. These factors are expected to aid the expansion of the global edible insects for human consumption market size over the coming years.
- Exo Protein, a U.S.-based protein powder and bar manufacturer, has appointed athletes and sportspersons as brand ambassadors to influence consumers regarding the use of edible insect-based protein powder as a part of a healthy diet.
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- Protifarm Holding NV
- HaoCheng Mealworm Inc.
- Kreca Ento-Food BV
- Chapul Cricket Protein
- Exo Protein
- JR Unique Foods Ltd., Part.
- Entomo Farms
- Craft Crickets Inc.
- Crik Nutrition
- Nutribug Ltd.
- Cricket Flours LLC.
- Bugsolutely Ltd.
Edible Insects for Human Consumption Market Trends
Higher Nutritional Content of Edible Insects to Boost Sales: Edible insects and insect based-products contain a high amount of nutritional protein. This makes them an ideal alternative to conventional protein sources for human consumption.
As a dry product, edible insects comprise 50% to 80% of protein, which is more than any animal-based or plant-based protein. Edible insects also contain highly digestible amino acids, and most of the insects contain antimicrobial peptides, chitin, and lauric acid, which have immunity-boosting properties. Thus, these factors are fueling the demand for edible insects for human consumption.
Cost-effective Insect-based Products Propelling Market Growth: The demand-supply gap is high in the global edible insects market. Key players in the edible insects for human consumption market are strategizing on increasing their production capacities. Such initiatives are bridging the gap between the demand and supply of edible insects across the globe, along with reducing the average prices of edible insects and their related products.
Low prices of insect-based products encourage buyers to opt for insect-based nutrition over plant-based nutrition. Thus, demand of edible insects for human consumption products is increasing across the globe.
Lack of Awareness to Restrict Market Growth: The edible insects for human consumption market is still at the initial stage of growth. In Western regions, the market is in the introduction phase due to lack of awareness.
This requires manufacturers to focus on increasing the promotion and awareness of health benefits of consuming edible insect products. Asian countries such as Thailand, China, Japan, and Malaysia, witness high consumption of edible insect-based food and protein products.
Manufacturers in the edible insects for human consumption market need to meet high standards, which puts tremendous pressure on them to maintain quality and ensure the safety of their insect-based products. This may limit them from focusing on expansion, thus restricting the growth of the global edible insects for human consumption market to some extent in the foreseeable future.
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Regional Outlook of Edible Insects for Human Consumption Market
Insect proteins are authenticated by the European Food Safety Authority (EFSA) and EU member states for use in food and nutraceutical products. Manufacturers are increasing their offerings in the commercial market to boost their in the edible insects for human consumption market share. This is being witnessed mainly in Europe, where insect-based food manufacturers are increasing the commercialization of insect-based protein.
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COVID-19 Impact on Edible Insects for Human Consumption Market
Currently, the entire world is suffering from the global COVID-19 pandemic. The outbreak has resulted in an economic slowdown, and rising unemployment and hunger. In this tough situation, consumers may avoid the consumption of edible insects; this factor can hamper the demand for edible insects for human consumption over the next few months.
In addition, disruptions in manufacturing, supply chain, and retail sector have affected the growth of the global edible insects for human consumption market. The growth of the global edible insects for human consumption market is expected to pick pace after containment of the spread of COVID-19.
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The global edible insects for human consumption market is expected to exhibit substantial growth in the coming years, with Asia Pacific and Europe is anticipated to offer lucrative growth opportunities during the forecast period of 2020-2030. The higher nutritional content of edible insects and insect-based protein, bars, and powder is a key factor for the growth of the global edible insects for human consumption market.
Leading market players such as Haocheng Mealworms Inc., Kreca Ento-Food BV., Protifarm Holding NV, Exo Protein, Protix, Cricket Flours LLC., and others are focusing on producing flavored, nutritionally-rich, and consumer-oriented edible insect products for human consumption to reach more consumers across the globe. They are also focusing on producing edible insect-based nutritional rich snacks and snack ingredients to serve the foodservice and snack industry.
Key Segments of Global Edible Insects for Human Consumption Market
PMR’s report on the global edible insects for human consumption market offers information divided into three segments - insect, product, and region.
Key Questions Answered in PMR’s Global Edible Insects for Human Consumption Market Report
- Which region will hold the highest market share in the global edible insects for human consumption market during the forecast period?
- Which region is experiencing the highest growth (CAGR)?
- Which factors are impacting the global edible insects for human consumption market?
- What are the global trends impacting the edible insects for human consumption market?
- What strategies must emerging players adopt to capture opportunities in various regions in the edible insects for human consumption market?
- What is the market structure of the global edible insects for human consumption market?