Animal-based and plant-based protein such as soy protein, pea protein, pulse protein, and others are conventional nutrition sources for human consumption. Plant-based and animal-based protein products represent 60-70% of production cost, which makes these alternatives significantly costlier than insect-based protein. As such, the popularity of insect-based protein is increasing across Asia Pacific and Europe. This is anticipated to boost the growth of the global edible insects for human consumption market over the next few years.
The global edible insects for the human consumption market has witnessed substantial growth in the past few years, and this trend is expected to continue throughout the forecast period. The market is estimated to rise at a steady CAGR of over 5% from 2020 to 2030.
Key Takeaways from Edible Insects for Human Consumption Market Study
- By insect type, beetles are dominating the global edible insects for human consumption market with the highest market value share.
- The demand for whole insect is expected to hold the highest share, including steam or fried insects, raw insects, and insect ingredients, during the forecast period.
- The Middle East and Africa is expected to hold the highest value share of the global edible insects for human consumption market during the forecast period. Low cost of producing insect proteins is boosting the sales of edible insects across the Middle East and Africa.
- Edible insects for have proven to be naturally gluten-free and come with many other health benefits. These factors will support the demand for edible insects for human consumption in the near future.
- The COVID-19 pandemic is having a moderate impact on the growth of the edible insects for human consumption market, as consumers are looking to avoid edible insect-based products during this period. Manufacturing and supply chain disruptions have further slowed down the growth of the global edible insects for human consumption market this year.
“Manufacture in the edible insects for human consumption market could gain broad profits by producing nutritional products such as protein bars, protein powder, protein drinks, etc. In addition, they can collaborate with foodservice and snack outlets to increase overall sales,” says a PMR analyst.
Edible Insects for Human Consumption Market: Competitive Landscape
Key players need to be focused on manufacturers in end-use industries such as snacks, nutraceuticals, and ready-to-eat meals to expand their businesses. Insects are comparatively high in nutrients and proteins, and manufacturers need to increase awareness about the benefits of insect proteins and their nutritional value to end users. Many edible insect protein manufacturers are executing these strategies to increase their sales revenue.
- Kreca Ento-Food BV, a Netherlands-based company, provides premium quality premium insects as ingredients for brands such as Isaac Nutrition, Eat Grub, Jimini’s, Insekt KBH, XDutch- Clean Protein, Enorm, Bugzz, Snack Insect, Din Insekt Butik, and others.
Explore More Valuable Insights on Global Edible Insects for Human Consumption Market
Persistence Market Research, in its new report, offers an impartial analysis of the global edible insects for human consumption market, presenting historical data (2015-2019) and estimation statistics for the forecast period of 2020-2030. The study offers compelling insights on the edible insects for human consumption market based on insect (beetles, caterpillars, hymenoptera, orthoptera, true bugs, and others) and product (whole and ingredients), across seven regions.
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