Edible Insects Market Size and Forecasts (2021 - 2031), Global and Regional Share, Trends, and Growth Opportunity Analysis

Coverage: Edible Insects Market covers analysis by Insect Type (Crickets, Mealworms, Black Soldier Flies, Grasshoppers, Silkworm, Others); Product Type (Whole Insects, Insect Powder, Insect Meal, Insect Protein Bars and Protein Shakes, Others) , and Geography (North America, Europe, Asia Pacific, and South and Central America)

Publication Month : Mar 2024

  • Report Code : TIPRE00008144
  • Category : Food and Beverages
  • Status : Upcoming
  • No. of Pages : 150
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MARKET INTRODUCTION

Edible insects are specific insect species used for human consumption. Edible insects contain high-quality protein, vitamins, and amino acids that are necessary for humans. These insects have a high food conversion rate and require lower cost for production. For instance, crickets are a type of edible insects that requires six times less feed as compared to cattle, four times less than sheep, and twice less than pigs and broiler chickens to produce the same amount of protein. Additionally, they emit fewer greenhouse gases and ammonia than conventional livestock. Edible insects can also be grown on organic waste. Therefore, insects are a potential source for the conventional production of protein for direct human consumption.

MARKET DYNAMICS

The edible insects market has witnessed a significant growth owing to factors such as rising health consciousness among the youth, growing awareness about the nutritional benefits offered by insect protein. Moreover, increasing farming of insects in developed and developing countries due to minimum investment is expected to propel the demand for the insect protein product over the forecast period. However, cultural beliefs and negative perception of consuming insects in countries like India are forecast to hinder the edible insect market growth.

MARKET SCOPE

The "Global Edible Insects Market Analysis to 2028" is a specialized and in-depth study of the Food and Beverage industry with a special focus on the global market trend analysis. The report aims to provide an overview of the edible insects market with detailed market segmentation insect type, product type and geography. The global edible insects market is expected to witness high growth during the forecast period. The report provides key statistics on the market status of the leading edible insects market players and offers key trends and opportunities in the market.

MARKET SEGMENTATION

The global edible insects market is segmented on the basis of insect type and product type. On the basis of insect type, the edible insects market is segmented into crickets, mealworms, black soldier flies, grasshoppers, silkworm, and others. The edible insects market on the basis of the product type is classified into whole insects, insect powder, insect meal, insect protein bars and protein shakes, and others.


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REGIONAL FRAMEWORK


The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global edible insects market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The edible insects market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the edible insects market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the edible insects market in these regions.

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MARKET PLAYERS


The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global edible insects market based on various segments. It also provides market size and forecast estimates from the year 2020 to 2028 with respect to five major regions, namely; North America, Europe, Asia-Pacific (APAC), Middle East and Africa (MEA) and South America. The edible insects market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.

The report analyzes factors affecting the edible insects market from both demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trend. The report also provides exhaustive PEST analysis for all five regions namely; North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the edible insects market in these regions.

MARKET PLAYERS

The reports cover key developments in the edible insects market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnership & collaborations. These activities have paved way for the expansion of business and customer base of market players. The market payers from edible insects market are anticipated to lucrative growth opportunities in the future with the rising demand for Edible insects in the global market. Below mentioned is the list of few companies engaged in the Edible insects market.

The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the edible insects market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.

  •  All Things Bugs, LLC
  •  Aspire Food Group
  •  Bitty Foods
  •  Bugsolutely Ltd
  •  Crické
  •  Cricket Lab
  •  EntomoFarms
  •  Exo Inc.
  •  Kreca Ento-Food BV
  •  Protifarm Holding NV

The Insight Partner's dedicated research and analysis team consist of experienced professionals with advanced statistical expertise and offer various customization options in the existing study.
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Report Coverage
Report Coverage

Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends

Segment Covered
Segment Covered

This text is related
to segments covered.

Regional Scope
Regional Scope

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

Country Scope
Country Scope

This text is related
to country scope.

TABLE OF CONTENTS

1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Edible Insects Market - By Insect Type
1.3.2 Edible Insects Market - By Product Type
1.3.3 Edible Insects Market - By Region
1.3.3.1 By Country

2. KEY TAKEAWAYS

3. RESEARCH METHODOLOGY

4. EDIBLE INSECTS MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PEST ANALYSIS
4.2.1 North America - Pest Analysis
4.2.2 Europe - Pest Analysis
4.2.3 Asia-Pacific - Pest Analysis
4.2.4 Middle East and Africa - Pest Analysis
4.2.5 South and Central America - Pest Analysis
4.3. EXPERT OPINIONS

5. EDIBLE INSECTS MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS, RESTRAINTS & EXPECTED INFLUENCE OF COVID-19 PANDEMIC

6. EDIBLE INSECTS MARKET - GLOBAL MARKET ANALYSIS
6.1. EDIBLE INSECTS - GLOBAL MARKET OVERVIEW
6.2. EDIBLE INSECTS - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING/MARKET SHARE

7. EDIBLE INSECTS MARKET - REVENUE AND FORECASTS TO 2028 - INSECT TYPE
7.1. OVERVIEW
7.2. INSECT TYPE MARKET FORECASTS AND ANALYSIS
7.3. CRICKETS
7.3.1. Overview
7.3.2. Crickets Market Forecast and Analysis
7.4. MEALWORMS
7.4.1. Overview
7.4.2. Mealworms Market Forecast and Analysis
7.5. BLACK SOLDIER FLIES
7.5.1. Overview
7.5.2. Black Soldier Flies Market Forecast and Analysis
7.6. GRASSHOPPERS
7.6.1. Overview
7.6.2. Grasshoppers Market Forecast and Analysis
7.7. SILKWORM
7.7.1. Overview
7.7.2. Silkworm Market Forecast and Analysis
7.8. OTHERS
7.8.1. Overview
7.8.2. Others Market Forecast and Analysis

8. EDIBLE INSECTS MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
8.1. OVERVIEW
8.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
8.3. WHOLE INSECTS
8.3.1. Overview
8.3.2. Whole Insects Market Forecast and Analysis
8.4. INSECT POWDER
8.4.1. Overview
8.4.2. Insect Powder Market Forecast and Analysis
8.5. INSECT MEAL
8.5.1. Overview
8.5.2. Insect Meal Market Forecast and Analysis
8.6. INSECT PROTEIN BARS AND PROTEIN SHAKES
8.6.1. Overview
8.6.2. Insect Protein Bars and Protein Shakes Market Forecast and Analysis
8.7. OTHERS
8.7.1. Overview
8.7.2. Others Market Forecast and Analysis

9. EDIBLE INSECTS MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Edible Insects Market Overview
9.1.2 North America Edible Insects Market Forecasts and Analysis
9.1.3 North America Edible Insects Market Forecasts and Analysis - By Insect Type
9.1.4 North America Edible Insects Market Forecasts and Analysis - By Product Type
9.1.5 North America Edible Insects Market Forecasts and Analysis - By Countries
9.1.5.1 United States Edible Insects Market
9.1.5.1.1 United States Edible Insects Market by Insect Type
9.1.5.1.2 United States Edible Insects Market by Product Type
9.1.5.2 Canada Edible Insects Market
9.1.5.2.1 Canada Edible Insects Market by Insect Type
9.1.5.2.2 Canada Edible Insects Market by Product Type
9.1.5.3 Mexico Edible Insects Market
9.1.5.3.1 Mexico Edible Insects Market by Insect Type
9.1.5.3.2 Mexico Edible Insects Market by Product Type
9.2. EUROPE
9.2.1 Europe Edible Insects Market Overview
9.2.2 Europe Edible Insects Market Forecasts and Analysis
9.2.3 Europe Edible Insects Market Forecasts and Analysis - By Insect Type
9.2.4 Europe Edible Insects Market Forecasts and Analysis - By Product Type
9.2.5 Europe Edible Insects Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Edible Insects Market
9.2.5.1.1 Germany Edible Insects Market by Insect Type
9.2.5.1.2 Germany Edible Insects Market by Product Type
9.2.5.2 France Edible Insects Market
9.2.5.2.1 France Edible Insects Market by Insect Type
9.2.5.2.2 France Edible Insects Market by Product Type
9.2.5.3 Italy Edible Insects Market
9.2.5.3.1 Italy Edible Insects Market by Insect Type
9.2.5.3.2 Italy Edible Insects Market by Product Type
9.2.5.4 United Kingdom Edible Insects Market
9.2.5.4.1 United Kingdom Edible Insects Market by Insect Type
9.2.5.4.2 United Kingdom Edible Insects Market by Product Type
9.2.5.5 Russia Edible Insects Market
9.2.5.5.1 Russia Edible Insects Market by Insect Type
9.2.5.5.2 Russia Edible Insects Market by Product Type
9.2.5.6 Rest of Europe Edible Insects Market
9.2.5.6.1 Rest of Europe Edible Insects Market by Insect Type
9.2.5.6.2 Rest of Europe Edible Insects Market by Product Type
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Edible Insects Market Overview
9.3.2 Asia-Pacific Edible Insects Market Forecasts and Analysis
9.3.3 Asia-Pacific Edible Insects Market Forecasts and Analysis - By Insect Type
9.3.4 Asia-Pacific Edible Insects Market Forecasts and Analysis - By Product Type
9.3.5 Asia-Pacific Edible Insects Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Edible Insects Market
9.3.5.1.1 Australia Edible Insects Market by Insect Type
9.3.5.1.2 Australia Edible Insects Market by Product Type
9.3.5.2 China Edible Insects Market
9.3.5.2.1 China Edible Insects Market by Insect Type
9.3.5.2.2 China Edible Insects Market by Product Type
9.3.5.3 India Edible Insects Market
9.3.5.3.1 India Edible Insects Market by Insect Type
9.3.5.3.2 India Edible Insects Market by Product Type
9.3.5.4 Japan Edible Insects Market
9.3.5.4.1 Japan Edible Insects Market by Insect Type
9.3.5.4.2 Japan Edible Insects Market by Product Type
9.3.5.5 South Korea Edible Insects Market
9.3.5.5.1 South Korea Edible Insects Market by Insect Type
9.3.5.5.2 South Korea Edible Insects Market by Product Type
9.3.5.6 Rest of Asia-Pacific Edible Insects Market
9.3.5.6.1 Rest of Asia-Pacific Edible Insects Market by Insect Type
9.3.5.6.2 Rest of Asia-Pacific Edible Insects Market by Product Type
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Edible Insects Market Overview
9.4.2 Middle East and Africa Edible Insects Market Forecasts and Analysis
9.4.3 Middle East and Africa Edible Insects Market Forecasts and Analysis - By Insect Type
9.4.4 Middle East and Africa Edible Insects Market Forecasts and Analysis - By Product Type
9.4.5 Middle East and Africa Edible Insects Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Edible Insects Market
9.4.5.1.1 South Africa Edible Insects Market by Insect Type
9.4.5.1.2 South Africa Edible Insects Market by Product Type
9.4.5.2 Saudi Arabia Edible Insects Market
9.4.5.2.1 Saudi Arabia Edible Insects Market by Insect Type
9.4.5.2.2 Saudi Arabia Edible Insects Market by Product Type
9.4.5.3 U.A.E Edible Insects Market
9.4.5.3.1 U.A.E Edible Insects Market by Insect Type
9.4.5.3.2 U.A.E Edible Insects Market by Product Type
9.4.5.4 Rest of Middle East and Africa Edible Insects Market
9.4.5.4.1 Rest of Middle East and Africa Edible Insects Market by Insect Type
9.4.5.4.2 Rest of Middle East and Africa Edible Insects Market by Product Type
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Edible Insects Market Overview
9.5.2 South and Central America Edible Insects Market Forecasts and Analysis
9.5.3 South and Central America Edible Insects Market Forecasts and Analysis - By Insect Type
9.5.4 South and Central America Edible Insects Market Forecasts and Analysis - By Product Type
9.5.5 South and Central America Edible Insects Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Edible Insects Market
9.5.5.1.1 Brazil Edible Insects Market by Insect Type
9.5.5.1.2 Brazil Edible Insects Market by Product Type
9.5.5.2 Argentina Edible Insects Market
9.5.5.2.1 Argentina Edible Insects Market by Insect Type
9.5.5.2.2 Argentina Edible Insects Market by Product Type
9.5.5.3 Rest of South and Central America Edible Insects Market
9.5.5.3.1 Rest of South and Central America Edible Insects Market by Insect Type
9.5.5.3.2 Rest of South and Central America Edible Insects Market by Product Type

10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS

11. EDIBLE INSECTS MARKET, KEY COMPANY PROFILES
11.1. ALL THINGS BUGS, LLC
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. ASPIRE FOOD GROUP
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. BITTY FOODS
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. BUGSOLUTELY LTD
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. CRICKE
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. CRICKET LAB
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. ENTOMOFARMS
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. EXO INC.
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. KRECA ENTO-FOOD BV
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. PROTIFARM HOLDING NV
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments

12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
The List of Companies

1. All Things Bugs, LLC
2. Aspire Food Group
3. Bitty Foods
4. Bugsolutely Ltd
5. Cricke
6. Cricket Lab
7. EntomoFarms
8. Exo Inc.
9. Kreca Ento-Food BV
10. Protifarm Holding NV

The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.

  1. Data Collection and Secondary Research:

As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.

Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.

  1. Primary Research:

The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.

For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.

A typical research interview fulfils the following functions:

  • Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
  • Validates and strengthens in-house secondary research findings
  • Develops the analysis team’s expertise and market understanding

Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:

  • Industry participants: VPs, business development managers, market intelligence managers and national sales managers
  • Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.

Below is the breakup of our primary respondents by company, designation, and region:

Research Methodology

Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.

  1. Data Analysis:

Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.

  • 3.1 Macro-Economic Factor Analysis:

We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.

  • 3.2 Country Level Data:

Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.

  • 3.3 Company Profile:

The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.

  • 3.4 Developing Base Number:

Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.

  1. Data Triangulation and Final Review:

The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.

We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.

We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.

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