Global Edible Insects Market Size [2023-2030]

The companies covered in the Edible Insects Market Report are Cricket Lab (UK), JR Unique Foods Ltd., Part (Thailand), Global Bugs Asia Co., Ltd. (Thailand), Haocheng Mealworm Inc. (China), Kreca Ento-Food BV (Netherlands), Coalo Vally Farms (USA), Aspire Food Group (USA), All Things Bugs, LLC (USA), Beta Hatch Inc. (USA ) and The Bühler Holding AG (Switzerland)

PUNE, India, February 21, 2023 (GLOBE NEWSWIRE) — The global Market for edible insects Size is poised to expand at a significant rate due to the numerous health and environmental benefits offered by edible insects, the consumption of which is increasing around the world. According to the Food and Agriculture Organization of the United Nations (FAO), edible insects such as wasps, beetles and grasshoppers contain essential nutrients that the human body needs, including amino acids, vitamins and high-quality proteins. In addition, the FAO notes that these organisms have an exceptionally high rate of food conversion. For example, crickets need four times less food than sheep and six times less than cattle to produce the same amount of protein. As a result, these insects emit less ammonia and fewer greenhouse gases than traditional livestock. This also means that edible insects are a direct source of pure protein and can also be used indirectly in other foods. Thus, the spectrum of benefits of edible insects is wide, which promotes their acceptance in humans.

The edible insects market has received increasing attention in recent years as insects have been identified as a sustainable and environmentally friendly source of protein. Insects are already part of the diet of around 2 billion people worldwide and are a traditional food in many cultures.

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List of Players Profiled in the Edible Insects Market Report:

• Beta Hatch Inc. (USA)

• Aspire Food Group (USA)

• All Things Bugs, LLC (USA)

• Coalo Valley Farms (USA)

• Haocheng Mealworm Inc. (China)

• JR Unique Foods Ltd.

• Kreca Ento-Food BV (Netherlands)

• Bühler Holding AG (Switzerland)

• Global Bugs Asia Co.,Ltd. (Thailand)

The story goes on

Scope and segmentation of the report:

The edible insects market is expected to grow significantly in the coming years, driven by factors such as increasing demand for sustainable and healthy protein sources, increasing concerns about the environmental impact of conventional livestock farming, and growing interest in exotic and novel food products.

Insects are rich in protein, vitamins and minerals and require far less water, land and feed than traditional livestock such as cows and pigs. In addition, insects produce fewer greenhouse gases and generate less waste than conventional livestock.

The most commonly consumed edible insects include crickets, mealworms and grasshoppers, although there are over 1,900 edible insect species and many more are yet to be discovered as potential food sources. The market for edible insects is still in its infancy but is expected to grow rapidly in the coming years, especially in countries like the United States and Europe where insect consumption is still relatively low.

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Market Restriction

Certain risks associated with eating bugs may discourage their consumption

The growth of the edible insects market is based on the fact that eating bugs has proven health benefits and furthers the cause of sustainable food production. However, there are certain risks associated with this practice that can hamper the growth of this market. For example, a study by the European Food Safety Authority (EFSA) found that breeding insects used in animal feed and for human consumption can pose potential chemical and biological hazards if the husbandry technology used to breed them is not appropriate. Another disadvantage of eating insects is the risk of developing allergies to various proteins, which can vary regionally. Additionally, some insects release toxins as a type of defense mechanism, which in some cases can prove deadly to humans. For example, bugs produce steroids, and when humans ingest them in large quantities, it can lead to serious conditions and diseases such as infertility and liver cancer. Therefore, excessive intake of insects or insect-based foods can prove to be extremely harmful and this factor can stall the growth of this market.

Regional Analysis

North America and Europe together dominate the market

By region, North America and Europe are expected to dominate the edible insects market share in the coming years due to the increasing preference for high-protein, eco-friendly diet plans. Additionally, greater awareness of sustainable agriculture and food growing practices in these regions will further strengthen the market. The Asia-Pacific market is expected to grow significantly as insects are part of the staple diet in East and Southeast Asian countries like Vietnam and China. In addition, insect farming is a traditional practice in these countries and together with the growing demand for naturally sourced convenience food items, this factor will drive the Asia-Pacific market.

competitive landscape

Strategic alliances between major players to boost market competition

The competitive landscape of this market will intensify as key competitors increasingly collaborate to expand their offerings. These collaborations enable companies to explore new growth areas and seize opportunities to strengthen their market position both regionally and globally.

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Industry Developments:

• March 2019: Switzerland-based Bühler Insect Technology Solutions has partnered with Sweden-based Alfa Laval to develop and provide advanced insect protein solutions. The collaboration builds on the expertise of the two companies in their respective fields and aims to develop solutions to help insect product manufacturers scale up their production to meet growing demand.

• April 2018: Seattle-based insect production startup Beta Hatch has raised $2 million in a new round of funding from Wilbur-Ellis, Element 8 Fund, Keiretsu Capital, NQV8 and Frontier Angels. This funding will allow Beta Hatch to increase its efforts to produce sustainable protein for animal feed and increase its focus on R&D activities to develop innovative solutions.

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