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The edible insects market size is valued to increase by USD 11.42 billion, at a CAGR of 46.02% from 2023 to 2028. Growing food shortage across the globe will drive the edible insects market.
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Edible insects have emerged as a promising alternative protein source for the food industry, offering several business advantages. Compared to traditional animal protein sources, insect farming requires significantly less land and water, with a feed conversion ratio of 1:1 versus 10:1 for livestock (FAO, 2013). Furthermore, insects boast impressive amino acid profiles, aligning with human nutritional requirements and surpassing those of soy and rice (FAO, 2013). Innovations in insect farming techniques, such as automated rearing systems and vertical farming, have led to increased production scales and improved production cost efficiency (FAO, 2019). Novel food approval processes have facilitated the entry of insects into mainstream markets, with mealworms and cricket flour gaining consumer acceptance (EFSA, 2018). Insect meal production, including insect flour applications, has seen a surge in interest due to its potential for waste stream utilization and shelf life extension (FAO, 2019). Insect-based pet food has also gained traction, with insect protein isolates offering high protein content and desirable fatty acid compositions (APFED, 2020). Adherence to stringent food safety regulations is crucial in the edible insect market, with insect processing methods ensuring allergen identification, disease management protocols, and pest control strategies (EFSA, 2018). Chitin extraction methods and insect rearing systems further contribute to the industry's sustainable practices and production efficiency.
The global food market is experiencing significant growth due to the escalating food shortage crisis occurring worldwide.
The usage of edible insects in processed foods represents an emerging market trend. This culinary innovation offers numerous benefits, including increased sustainability and diverse sources of protein.
The low acceptance of edible insects as a food source poses a significant challenge to the growth of the industry. Despite their potential nutritional benefits and sustainability, widespread adoption of insect-based food products has been slow due to cultural and consumer preferences. Overcoming this obstacle will require targeted marketing efforts, educational campaigns, and continued innovation to make insect-based foods more palatable and socially acceptable.
The edible insects industry research report provides comprehensive data (region-wise segment analysis), with forecasts and estimates in "USD million" for the period 2024-2028, as well as historical data from 2018-2022 for the following segments.
The human consumption segment is estimated to witness significant growth during the forecast period.
The market continues to evolve, with around 2,300 insect species approved for human consumption, having been a traditional food source for over 7,000 years in various cultures. Insects offer significant nutritional benefits, including high protein content comparable to lean ground beef, essential minerals, fiber, and good fats. Approximately 2 billion people consume insects regularly, and their rearing requires less land than livestock farming, contributing to addressing global food shortages. Insect farming techniques employ automated insect rearing, vertical farming, and recycling farm waste for efficient production. Insect meal production involves processing methods ensuring food safety, microbial contamination control, and allergen identification.
Insects' nutritional composition, including protein isolates and amino acid profiles, undergo rigorous analysis. Consumer acceptance studies and insect-based pet food development are ongoing trends. Insect farming practices adopt sustainable methods, such as pest control strategies, disease management protocols, and fatty acid composition analysis. Insect processing methods include sensory evaluation testing, larval stage harvesting, and shelf life extension. Insect rearing systems employ efficient production cost methods and chitin extraction techniques. The market's future growth is driven by the increasing focus on reducing environmental impact and improving protein conversion ratios.
The Human consumption segment was valued at USD 372.00 billion in 2018 and showed a gradual increase during the forecast period.
APAC is estimated to contribute 43% to the growth of the global market during the forecast period.Technavio’s analysts have elaborately explained the regional trends and drivers that shape the market during the forecast period.
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The market in APAC is experiencing significant growth due to the region's high food shortages and favorable tropical climate, making it the largest consumer of edible insects globally. Insects such as bamboo insects, caterpillar fungus, locusts, ants, termites, bees, wasp larvae, and silkworm pupae are commonly consumed in countries like China, Cambodia, Thailand, and South Korea. Ants, beetles, and wasps are popular in India, Australia, and Sri Lanka. China recognizes over 178 edible insect species, treating them as delicacies. The large size and stable life cycle of tropical insects contribute to operational efficiency gains and cost reductions in insect rearing.
For instance, compared to traditional livestock farming, insect farming uses 10 times less feed and 1,000 times less water. This eco-friendly and sustainable alternative to conventional animal protein sources is driving the market's evolution.
Customer Landscape of Edible Insects Industry
Companies are implementing various strategies, such as strategic alliances, edible insects market forecast, partnerships, mergers and acquisitions, geographical expansion, and product/service launches, to enhance their presence in the industry.
All Things Bugs LLC - The company specializes in producing and marketing edible insect powders, such as Griopro, as a sustainable and nutrient-dense food source. This innovative approach to food production addresses growing consumer demand for alternative protein sources and contributes to reducing environmental impact.
The industry research and growth report includes detailed analyses of the competitive landscape of the market and information about key companies, including:
Qualitative and quantitative analysis of companies has been conducted to help clients understand the wider business environment as well as the strengths and weaknesses of key industry players. Data is qualitatively analyzed to categorize companies as pure play, category-focused, industry-focused, and diversified; it is quantitatively analyzed to categorize companies as dominant, leading, strong, tentative, and weak.
Dive into Technavio’s robust research methodology, blending expert interviews, extensive data synthesis, and validated models for unparalleled Edible Insects Market insights. See full methodology.
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Market Scope |
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Report Coverage |
Details |
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Page number |
164 |
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Base year |
2023 |
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Historic period |
2018-2022 |
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Forecast period |
2024-2028 |
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Growth momentum & CAGR |
Accelerate at a CAGR of 46.02% |
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Market growth 2024-2028 |
USD 11422.9 million |
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Market structure |
Fragmented |
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YoY growth 2023-2024(%) |
32.78 |
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Key countries |
US, China, Thailand, UK, South Korea, India, Japan, Spain, Brazil, and UAE |
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Competitive landscape |
Leading Companies, Market Positioning of Companies, Competitive Strategies, and Industry Risks |
"Leverage Technavio's unparalleled research methodology and expert analysis for accurate, actionable market intelligence."
The market has gained significant traction in recent years due to its potential as a sustainable and nutritious protein source. One key aspect of optimizing insect rearing density in insect farming is the impact of feed composition on insect growth. Efficient feed utilization is crucial for profitability, with some studies suggesting that improving feed conversion ratios by 10% could lead to a 25% reduction in production costs. Insect farming waste water treatment is another critical factor in the industry's sustainability metrics. Vertical farming systems for insect production have emerged as a solution to enhance production efficiency, reduce water usage, and minimize environmental impact. Consumer perception plays a significant role in the market's growth, with edible insect products gaining acceptance as nutritious and eco-friendly alternatives to traditional protein sources. The nutritional value of insect protein sources is comparable to that of animal-derived proteins, with a similar essential amino acid profile. Rearing conditions significantly impact insect quality, with optimal temperature, humidity, and lighting conditions essential for maintaining insect health and ensuring food safety standards. Processing methods also influence the nutritional value and allergenic potential of insect-derived products. Sustainability metrics are a crucial consideration in insect farming systems, with environmental benefits including reduced greenhouse gas emissions, minimal land usage, and low water requirements. Economic feasibility is another essential factor, with insect farming projects requiring careful planning and waste management practices to minimize operational costs. Developing regulatory frameworks for insect farming is necessary to ensure compliance with food safety standards and assessing the scalability of insect farming at different scales. Comparative analysis of farming practices and their impact on insect health is essential for optimizing production and improving product quality. In conclusion, the market offers a promising opportunity for businesses seeking sustainable and nutritious protein sources. By focusing on optimization of insect rearing density, impact of feed composition, insect farming waste water treatment, vertical farming production efficiency, consumer perception, nutritional value, effect of rearing conditions, processing methods, food safety standards, allergenic potential, sustainability metrics, environmental benefits, economic feasibility, insect farming waste management practices, and developing regulatory frameworks, businesses can position themselves at the forefront of this growing industry.
What is the expected growth of the Edible Insects Market between 2024 and 2028?
USD 11.42 billion, at a CAGR of 46.02%
What segmentation does the market report cover?
The report is segmented by Application (Human consumption, Animal nutrition, and Cosmetics and pharmaceuticals), Product Type (Whole insects, Insect powder, and Insect meal), Geography (APAC, North America, Europe, Middle East and Africa, and South America), End-User (Food and Beverage, Animal Feed, Pet Food, Nutraceuticals, and Cosmetics), and Distribution Channel (Supermarkets and Hypermarkets, Online Retail, Specialty Stores, and Direct Sales)
Which regions are analyzed in the report?
APAC, North America, Europe, Middle East and Africa, and South America
What are the key growth drivers and market challenges?
Growing food shortage across the globe, Low acceptance of edible insects as a food source
Who are the major players in the Edible Insects Market?
All Things Bugs LLC, Armstrong Crickets Georgia, Aspire Food Group, Beta Hatch, Bioflytech, Darling Ingredients Inc., Eat Grub, Edible Bug Shop, Entomo Farms, Global Bugs Asia Co. Ltd., Hargol FoodTech, HEXAFLY, Innovafeed SAS, JR Unique Foods Ltd., MealFood Europe SL, nextProtein SA, Nutrition Technologies, Protenga Pte. Ltd., Protix BV, and Ynsect SAS
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1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Historic Market Size
5 Five Forces Analysis
6 Market Segmentation by Application
7 Market Segmentation by Product Type
8 Market Segmentation by End-User
9 Market Segmentation by Distribution Channel
10 Customer Landscape
11 Geographic Landscape
12 Drivers, Challenges, and Opportunity/Restraints
13 Competitive Landscape
14 Competitive Analysis
15 Appendix
Research Framework
Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.
INFORMATION SOURCES
Primary sources
Secondary sources
DATA ANALYSIS
Data Synthesis
Data Validation
REPORT WRITING
Qualitative
Quantitative
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