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Edible Insects Market Size & Growth, 2025 | Industry Analysis Report

Edible Insects Market Analysis Report By Product, By Application, By Region And Segment Forecasts From 2019 To 2025

Report ID: MN17619576  |  Published: April 2020  |  No of Pages: 80
Format: Electronic (PDF)  |  Industry: Consumer Goods  |  Publisher: Grand View Research

Industry Insights

The global edible insects market size was accounted for USD 0.41 billion in 2018. The market is expected to witness a significant growth rate with a CAGR of 19.7%, from 2019 to 2025. This growth can be attributed to the rising health consciousness among the millennials, the presence of essential nutrients and willingness to taste a new variety of flavors. These insects are protein-rich, their demand among the sportsmen and athletes is anticipated to increase in the upcoming years.

Due to the rise in the insect farming owing to the requirement of minimum initial investment and the restrictions on activities like fishing, the edible insect market is expected to show significant growth in the upcoming years, 2019 to 2025. The demand for such insects is also increasing due to their high nutritional content and less cost thereby positively impacting the market growth.

North America edible insects market size

The statutory governing bodies across various countries like India and China are spreading awareness and educating the people about the health benefits through the consumption of these products. These insects require less feed, land and are around 12 times richer in proteins than any other food product. Such factors are anticipated to drive the market growth during the forecasted years, 2019 to 2025.

But, in countries like India, the negative perception of consumption of such insects coupled with the cultural beliefs can hamper the market growth. The scarcity of the distribution network and the absence of blueprint regarding the consumption of insects is expected to act as a hindrance in the market growth. But edible insects are considered to be the best food for patients suffering from malnutrition as they are easily digestible. Also, they act as resistant in the disease transfer as compared to the rest of the animals. Moreover, the presence of other ingredients such as iron, zinc, fatty acids, and magnesium is also expected to drive the market growth in the upcoming years.

The product type of beetles is anticipated to be the most consumed edible insect due to its higher nutritional content. For instance, 13 gm of protein can be obtained from 3.5 ounces of the June beetle while 20 gm can be obtained from 3.5 ounces of water beetle. As they are rich in zinc, calcium, and iron, they are being preferred by consumers across all age groups. The protein content of cricket is much more than beef and is cost-effective. Thus, they can be considered as the preferable source for proteins.

Product Insights

The edible insects market can be further classified into beetles, caterpillars, and cricket. During 2018, the product type of beetles held the largest share of 30% in the global market. Many factors such as nutritional content and changing taste preferences are expected to drive the market growth in the upcoming years.

The product segment of cricket is expected to grow at the fastest CAGR of 20.9% during the forecasted period, 2019 to 2025. This can be attributed to the low cost, ease of availability and higher protein content. Thus, it is also being used as an ingredient in the manufacturing of protein supplements. As cricket has less emission in the production process, low cost for production and requires less water, it can be easily produced and consumed. Thus, the market for edible insects is anticipated to increase at a significant growth rate in the upcoming years. 

Application Insights

In 2018, the powder application segment held a share of more than 40% and is anticipated to witness the fastest growth during the forecasted period, 2019 to 2025. The rising availability of powdered form coupled with the increasing number of applications is expected to drive the market demand in the upcoming years. It can also be used as a mixture of flour and can be consumed. For instance, across the European region, this powder is mixed with cheese, burger, pizza or any other food product to added taste and flavor. Also, cricket flour is being used in the manufacturing of various food products owing to its gluten-free nature.

Global edible insects market share

The segment of protein bars held the second-largest share during the year 2018. They are majorly being preferred by the athletes, sports enthusiasts as well as health-conscious people thereby driving the market demand. Moreover, due to the low expiration date associated with the protein bars, they should be consumed immediately. But the powder can be stored for a longer time. This powder form can be stored easily at room temperature as well thereby propelling the market demand.

Regional Insights

In 2018, the region of North America was the largest regional market holding a share of 25%. In this region, the U.S. accounted for more than 40% of the total share. This growth can be attributed to the rising awareness about the health benefits associated with the consumption of such products.

The region of the Middle East and Africa held the second-largest share of around 20% across the global edible insects’ market. Higher consumption of such products in countries like South Africa is expected to drive the market demand in this region. Since, the last few years, the consumption of such products has also increased across Saudi Arabia thereby fueling the market growth in the upcoming years.

The region of Europe is anticipated to witness the fastest CAGR of 20.5% during the forecasted period, from 2019 to 2025. The demand for such products for curing diseases like malnutrition owing to their ease of digestibility is expected to drive the market demand in the upcoming years.

Edible Insects Market Share Insights

The key players in the market of edible insects are Beetle Jelly, Bugsy Bros, Haocheng, Bugs in Mugs, Bug foundation, Crickester, Eddiebug, Insectables, Insecteo, and Gran Mitla. The entry barrier for new entrants willing to enter the market can be classified from low to moderate due to low production cost and lack of rules and regulations. The manufacturers of such products are continuously investing in R&Ds to increase the nutritional value of the products using various techniques and by adding additives.

Report Scope

Attribute

Details

Base year for estimation

2018

Actual estimates/Historical data

2015 - 2017

Forecast period

2019 - 2025

Market representation

Revenue in USD Billion and CAGR from 2019 to 2025

Regional scope

North America, Europe, Asia Pacific, Central & South America, Middle East & Africa

Country scope

U.S., Mexico, U.K., Germany, China, Brazil, UAE and South Africa

Report coverage

Revenue forecast, company share, competitive landscape, and growth factors and trends

15% free customization scope (equivalent to 5 analyst working days)

If you need specific information, which is not currently within the scope of the report, we will provide it to you as a part of customization


Segments Covered in the Report

This report forecasts revenue growth at global, regional, and country levels, and provides an analysis on latest industry trends in each of the sub-segments from 2015 to 2025. For the purpose of this study, Million Insights has segmented the global edible insects market report based on product, application and region:

• Product Outlook (Revenue, USD Million, 2015 - 2025)
    • Caterpillar
    • Beetles
    • Cricket
    • Others

• Application Outlook (Revenue, USD Million, 2015 - 2025)
    • Powder
    • Protein Bars
    • Others

• Regional Outlook (Revenue, USD Million, 2015 - 2025)
    • North America
        • U.S.
        • Mexico
    • Europe
        • Germany
        • U.K.
    • Asia Pacific
        • China
    • Central & South America
        • Brazil
    • Middle East & Africa
        • UAE
        • South Africa

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