Edible Insect Market Growth, Development Factors, Top Company Share, and Revenue by Forecast 2032 | IMR
Edible Insect Market Methodology:
Edible Insect Market Size Was Valued at USD 293.12 Million in 2023, and is Projected to Reach USD 1973.38 Billion by 2032, Growing at a CAGR of 23.6% From 2024-2032.
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Our study also discusses the complete keyword market ecosystem, explaining the various market stakeholders, their functions and interdependencies between them. Further, with an emphasis on comprehensive segmentation analysis and geographical coverage, the study enables a profound understanding of regional trends. Moreover, we explore external factors providing a comprehensive view of the market dynamics.
Edible Insect Market Dynamics:
The increasing need for environmentally friendly and high-protein food options is fuelling the edible insect industry. Insects are very effective at turning feed into protein, using less land, water, and resources than regular livestock. With the increasing global population and rising environmental concerns, edible insects are being seen more and more as a feasible alternative to traditional animal protein. The market is also being boosted by an increasing approval of products made from insects, especially in areas where food security is a worry. Advancements in processing and packaging are also contributing to the market's growth.
Market Trends:
Insect-based protein powders, snacks, and pet food are growing in popularity in the edible insect market trends. With growing health and environmental awareness, there is a rising need for alternative proteins like insects among consumers. The market is experiencing an increase in the production of high-quality insect-based foods, catering to a small yet expanding consumer group. Furthermore, cooperation between food companies and start-up companies is leading to the development of new insect-based products that are flavourful and healthy, broadening the market's scope.
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Market Opportunities:
The market for edible insects offers great potential, especially in tackling worldwide issues related to food security and sustainability. As consumer demand for sustainable and ethical food sources grows, companies can seize the opportunity to develop insect-based products that align with these values. Potential for growth remains untapped in emerging markets in Asia, Africa, and Latin America, where insect consumption is customary. Moreover, approval from regulators and assistance from the government in Western nations for insect-based food items may lead to the opening of fresh markets and enhance trust among consumers, which will aid in the growth of the industry.
Edible Insect Market Segmentation:
By Insect Type
- Rhinoceros Beetles
- Ants
- Grasshopper
- Silkworms
- Crickets
- Others
By Product
- Whole Insect
- Powder
- Bar
- Others
By Application
- Human Consumption
- Animal Feed
- Cosmetics
- Pharmaceuticals
- Others
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Edible Insect Market Key Players:
- Coalo Vally Farms (US)
- Cricket Lab (U.K.)
- JR Unique Foods Ltd., Part(Thailand)
- Global Bugs Asia Co., Ltd. (Thailand)
- Haocheng Mealworm Inc. (China)
- Kreca Ento-Food BV (The Netherlands)
- Aspire Food Group (US)
- All Things Bugs, Llc (US)
- Beta Hatch Inc. (US)
- The Bühler Holding Ag (Switzerland)
- Agriprotien Technologies (South Africa)
- Chapul (US)
- Thailand Unique (Thailand)
- Six Foods (US)
- Crowbar Protein (Iceland)
- Gathr Foods (United Kingdom)
- Protix (Netherlands)
- Ynsect (France) and other major players.
Edible Insect Market Regional Analysis:
Asia-Pacific region is currently undergoing substantial growth. Countries in the Asia-Pacific region such as China, Thailand, Vietnam, and Cambodia have seen a rise in the consumption of edible insects in the recent years. These insects are becoming more popular as a sustainable and nutritious food source due to their high protein and essential nutrient content. The cultural approval of eating insects is crucial in numerous Asian countries. In certain cultures, insects have long been consumed as part of traditional diets, facilitating their acceptance as a staple food. Moreover, the increasing recognition of the environmental advantages of insect cultivation, such as lower greenhouse gas emissions and effective land utilization, has sparked a greater interest in consuming edible insects.
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Company Profiles and Competitive Analysis:
COMPANY PROFILES AND COMPETITIVE ANALYSIS
- COMPETITIVE LANDSCAPE
- Competitive Positioning
- Edible Insect Market Share By Manufacturer (2024)
- Industry BCG Matrix
- Heat Map Analysis
- Mergers & Acquisitions
- ARIEL CORPORATION
- Company Overview
- Key Executives
- Company Snapshot
- Role of the Company in the Market
- Sustainability and Social Responsibility
- Operating Business Segments
- Product Portfolio
- Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
- Key Strategic Moves and Recent Developments
- SWOT Analysis
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