Edible Insects Market size to exceed $1.5bn by 2026
Published Date: February 20, 2020 Authors: Kunal Ahuja, Kritika Mamtani
Edible Insects Market size is set to surpass USD 1.5 billion by 2026; according to a new research report by Global Market Insights, Inc.
Edible insects products are roasted, dried and powdered to form low calorie and nutritious food & beverage preparations. Most common edible insects include ants, crickets, grasshoppers, bees, and wasps. They are widely used in preparing healthy snacks, protein bars, and trans-fat flours owing to their neutral taste and effective bounding properties. Also, their easy availability, economic farming and processing techniques is making them popular among consumers which is likely to stimulate edible insects market demand.
Edible insects industry shall register significant gains from 2020 to 2026 owing to changing dietary needs and rapid penetration of edible insects preparations in market place. Changing business scenario owing to rapid investment by industry players to introduce innovative products to gain brand recognition and maximum business share is likely to boost the global market growth.
Increasing demand for nutritious and low-calorie protein sources is making consumers opt for edible insect products in their daily dietary needs. The market is also gaining strength owing to rising cases of livestock diseases which is making consumers shift towards edible insect preparations. Changing consumer perceptions towards nutrition and rising demand for healthy alternatives should boost edible insects market outlook.
Rising awareness towards nutritional benefits of scale insects and tree bugs to boost market trends
Rising consumer awareness towards protentional benefits of consuming scale insect & tree bug powders is likely to boost market share. Increasing investment by industry players to market their products to millennials by offering free samples, attractive packaging, and discounts is likely to encourage consumption and boost the industry outlook.
The demand for edible insects has also increased owing to rise in globalization and urbanization trends. Edible insects are being produced by adopting economical wild harvesting, semi-domestication, and sustainable farming techniques. Also, edible insects can be sustainably manufactured as they produce less emissions during manufacturing process and require less water which should boost product demand.
“Edible insects industry statistics is forecast to witness substantial growth of 47% at the end of 2026 owing to rapid shift towards high protein and low-calorie products”.
Browse key industry insights spread across 170 pages with 84 market data tables and 37 figures & charts from the report, “Edible Insects Market Statistics By Product (Beetles, Caterpillars, Grasshoppers, Bees, Wasps, Ants, Scale Insects & True Bugs), By Application (Flour, Protein Bars, Snacks), Industry Analysis Report, Regional Outlook (U.S., Belgium, Netherlands, UK, France, China, Thailand, Vietnam, Brazil, Mexico), Application Potential, Price Trends, Competitive Market Share & Forecast, 2015 – 2026” in detail along with the table of contents:
Rising trends to opt for edible insect flour in bakery products to boost market share
Increasing trends to opt for edible insect flour in bakery preparations to increase protein and amino acid concentration is likely to boost product demand. Edible insects flours are compatible with various bakery preparations, have natural taste, enhance texture and nutritional profile. Changing consumer perceptions towards nutrition and dietary needs is likely to accelerate edible insects market demand.
Industry players are introducing new bakery preparations such as multi grain bread using grasshopper flour and edible insect extracts to boost market share. Rapid penetration of edible insect bakery preparations such as biscuits, cakes, and croissants are making industry players to introduce application specific products which is likely to boost market share. Changing consumer perceptions towards adopting high performance and low-calorie ingredients is expected to drive the global industry landscape.
“As per the analysis, edible insect flour is forecast to grow at over 43% up to 2026 owing to increasing adoption of amino acid rich and low trans-fat ingredients in bakery preparations”
Rapid adoption of edible insects products in daily dietary needs to boost demand in Asia Pacific
Rising geriatric population, increasing rates of obesity and cardiovascular diseases owing to unhealthy food habits and busy schedules is likely to boost edible insects market share. Consumers are adopting edible insect products in daily diets to meet their daily requirement of protein consumption. Also, edible insects provide a healthier, low calorie, and nutrition rich substitute which aids in weight and cholesterol management which is likely to boost global industry share.
Industry players are rapidly investing in introducing new product lines to diversify product portfolio & capitalize on changing dietary and nutrition trends. Industry players are also engaging in strategic joint ventures to offer new inventions and creative products to gain brand recognition and market share is developing economies. Some key players engaged in edible insects market include HaoCheng Mealworms, Agroprotein Technologies, Kreca, EnviroFlight, Proti-Farm, Chapul, Exo Protein, Thailand Unique, Six Foods, Crowbar Protein, Gathr Foods, Crik Nutrition, Nutribug, Crickers, Bugsolutely and Cricket Flours.
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