With increased demand for animal-based food and to feed the large population, insects are being used as a source of food. Owing to the lower ecological footprint required for the production of insects. Consumption of insects also depends on human health issue and culture. Increased demand for edible insects is also resulting in the development of new technologies used to harvest insects in a more efficient way. Along with harvesting of insects, companies are also focusing on storing edible insects to keep them fresh for a long time. However , there are still some major factors hampering the market growth including safety and health issues, and legislative requirements. Companies are also focusing on developing various edible insect ingredients. Edible insects are also being offered along with the information on their nutrient contents.
According to the report by Persistence Market Research, the global edible insects market is expected to see a significant growth between 2017 and 2024. The global market for edible insects is estimated to reach US$ 722.9 Million revenue. Many countries are also focusing on imposing guidelines on edible insects. Edible insects are also being considered as an important part of food security. Insects are also said to be grown quickly and can be farmed in large quantities in a small area.
Edible Insects as a Whole to Gain Maximum Traction in the Market
Compared to the ingredients, edible insects as a whole is likely to be consumed on a large scale. In Asian countries such as Thailand and China, edible insects are sold as a whole to be consumed by people. Moreover, they are also the part of street food in these countries. With the rising preference for edible insects as a whole, companies are also providing packed edible insects as a whole in dried, BBQ, and raw form. Companies are also moving towards providing food-grade certified insects for consumption. Moreover, activities such as insect harvesting requires very less investment and it is considered as the best way to earn for the poorest section of society. However, companies are finding new ways to offer edible insects with maximum nutrition value.
Moreover, the demand for edible insects is also growing due to the number of benefits offered by them. The demand for edible insects has also increased owing to the rise in globalization. Edible insects are being produced by adopting wild harvesting, farming and semi-domestication. These methods also require very minimal investment. Asia Pacific is considered to be the largest region accounting for maximum edible species, with increasing population and rising food demand, the dependency on edible insects is also increasing. The availability of insects also depends on geographical regions, while some of the countries in Asia Pacific are dominated by the particular type of edible insects.
Harvesting, gathering, and processing insects is also becoming an important business in some countries especially for locals as very little investment is required. Various types of insects are considered edible including caterpillar, orthoptera, beetles, true bugs, etc. However, among these, beetles are likely to be consumed on a large scale in the near future.
Persistence Market Research (PMR) provides forecast and in-depth insights on the global edible insects market from 2017 to 2024. The report offers data In terms of volume and value. The main objective of the report is to provide insights on the developments in the global market for edible insects. The study also offers details on the market dynamics including driving factors, trends, opportunities that influence the growth of the global edible insects market throughout 2017 to 2024. The report also provides updates on the factors resulting in opportunities for growth in the global market for edible insects.
The report also provides details on all the factors influencing the market growth. The market is segmented on the basis of insects type, product, and region. All these segments are further divided into sub-segments and all the key regions are segmented into countries. The market segments help in identifying growth opportunities for suppliers in the market. The report also provides details on all the latest techniques used in insect breeding. The containers used for breeding insects is also discussed in the report.
The report focuses on the market share by each segment including the data in the form of basis point share. One of the sections in the report also sheds light on the demand and supply of edible insects based on the region. The report also provides an overall view of the global edible insects market during 2017–2024 and the forecast on the market, including new developments in terms of technology and also on the types of product available in the global market for edible insects. All the latest trends contributing to the growth of the global edible insects market along with the drivers resulting in the growth of the market across different regions. The regions included in the report are Asia-Pacific, Latin America, the Middle East and Africa (MEA), Europe, and North America. .
In the last section of the report provides details on all the leading companies operating in the market along with the dashboard view. Detailed profile of all the major players is provided including business overview, latest development, trends, product portfolio, short-term and long-term strategies. New product offerings and latest developments and regulations in the global edible insect market is provided in the report.
All the data including qualitative and quantitative is provided based on the primary and secondary research done. Interviews were conducted with market experts, and the opinions provided by them were cross-checked with the valid data sources. The secondary research including collecting essential information from annual and financial reports_bk_01_01_2020, investor’s presentation, and other available documents with important data. The report also provides Porter’s five force analysis and SWOT analysis. This helps in understanding the market and identify growth opportunities. Market attractiveness analysis is also done to provide market attractiveness index. It plays an important role in identifying opportunities for both manufacturers and suppliers. The data is provided in form of CAGR, revenue, and year-on-year growth.