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2016-2024 Global Edible Insects Market Segmentations

Edible Insects Market | Orthoptera and tree bugs segments are expected to account for relatively high CAGRs of 8.1% and 7.3% respectively during the forecast period.
Global Market Study on Edible Insects: Owing To
Increasing Cost of Animal Protein and Increasing
Consumption of Sustainable Food to Drive Market
Growth by 2024
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Edible Insects Market 2016-2024
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Report Media Releases
Global Edible Insects Market Value to Increase from US$
423.8 Mn in 2016 to US$ 722.9 Mn by 2024, Due to Low
Production Cost of Insect Products as Compared to Beef,
Chicken, or Pork
Persistence Market Research (PMR) delivers key insights on the global edible insects
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market in its upcoming outlook titled, “Edible Insects Market: Global Industry Analysis and
Forecast, 2016 – 2024”. In terms of value, the global edible insects market is projected to
register a healthy CAGR of 6.1% during the forecast period due to various factors, regarding
which PMR offers vital insights in detail.
On the basis of product type, the market is segmented into a product as a whole and
product as an ingredient. Product as a whole segment is further sub-segmented into steam
or fried, raw and BBQ. As an ingredient segment is sub-segmented into drinks, insect
confectionery, snack and baked products, and others. The global market is driven by low
capital investment, rapid growth in global population, alternatives for egg and dairy proteins,
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ease of harvesting and processing, low disease risk and food safety, less land for farming,
and lower water consumption.
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On the basis of insect type, the market is segmented into beetles, caterpillar, hymenoptera,
orthoptera, tree bugs, and others. Orthoptera and tree bugs segments are expected to
account for relatively high CAGRs of 8.1% and 7.3% respectively during the forecast period.
Insect rearing involves low capital investment as compared to that needed for another
conventional livestock rearing such as cattle, swine, and chicken. Substantial increase in
global population and decreasing resources are other factors expected to drive demand for
alternative food sources. According to United Nations, global population in 2050 is expected
to reach 9 billion, significantly outgrowing existing food resources. Insects contain high
protein and amino acids and can be a sustainable food source in future.
Edible Insects Market 2016-2024
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Insects are a highly nutritious and a healthy food source with a high content of nutrients
(fats, proteins, vitamins, fiber, and minerals) required by humans. Some individuals cannot
palate egg, milk, or soy- derived protein due to allergic reactions. For example, milk sugar or
lactose can cause severe allergic reactions that result in gastrointestinal side effects such as
nausea, bloating, diarrhea etc. Insects contain high protein and amino acids, due to which
some manufacturers add insect protein to various food products. Insect protein is organic
and contains no artificial colors, sweeteners or fillers. Insects have high growth and feed
conversion rates and low environmental footprint over their entire lifecycle. Insects are found
across the globe and reproduce very rapidly. Farming and harvesting of edible insects
provide farmers entrepreneurship opportunities across all economies. Insects provide a
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cheap source of food and can be reared to cater to the low-income population growth.
These activities can directly improve diets and provide cash income through sales of excess
produce as street food.
This report covers trends driving segments and offers analysis and insights of the potential
of the edible insects market in specific regions. Markets in Europe and North America are
expected to register highest CAGR between 2016 and 2024, accounting for 7.3% and 6.9%
respectively. In value terms, APAC contributed the highest revenue to the global edible
insects market, while MEA accounted for 28.4% market share in 2015 and is expected to
account for 28.9% market share by 2024. Increasing consumer awareness in MEA about
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the benefits attached with consumption of edible insects is increasing fueling demand for
such products over the forecast period.
View Report Table of Content, Figures, and Tables
Key players in the global edible insects market include Thailand Unique, Kreca, Nordic
Insect Economy Ltd., Entomo Farms (Formerly Next Millennium Farms), Enviro Flight, LLC,
Proti-Farm, Exo Inc., Entotech, Deli Bugs Ltd., and Eat Grub Ltd.
Browse through the full Global Edible Insects Market Report
Edible Insects Market 2016-2024
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Edible Insects Market 2016-2024
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