Dried, roasted, and powdered edible insects are powdered into a high protein, low-calorie flour for making it suitable for human consumption. Locusts, beetles, locusts, crickets, and ants constitute commonly edible insects that are available in the market. Because of their suitability with numerous organic ingredients and varieties, these powders are widely used for manufacturing low-calorie energy snacks and bars. The market for edible insects is expected to be driven by rising health enthusiasm among the youth, growing awareness about its nutritional benefits, and the willingness to try new food and beverage products. As insects are high in protein, their popularity is growing among young people who exercise and are open to new experiences. This is projected to increase the sales projections of the global edible insects market during the forecast period, set between 2021 and 2031.
The global edible insects market is categorized on the basis of product, insect type, application, end use, and geography. The product segment is grouped into insect oil, insect meal, insect powder, and whole insects. With respect to insect type, the market is categorized into cicadas, silkworms, ants, grasshoppers, buffalo worms, mealworms, black soldier files, crickets, and other edible insects. Based on application, the market is grouped into feed and food & beverages. Among these, the food & beverages sector is further sub-categorized into insect beverages, insect confectioneries, baked products & snacks, protein bars & shakes, processed insect powder, processed whole insect, and other food & beverage applications. The feed segment is again sub-segmented into pet food, aquaculture feed, and animal feed. With respect to segmentation by end use, the market is bifurcated into animal nutrition, and human consumption.
The research report on edible insects market provides a comprehensive overview of the market and factors attributing to its growth such as drivers, restraints, challenges, and upcoming growth opportunities. It also highlights the impact of the novel COVID19 pandemic prevalent from 2020 on this market and how can players gain benefit from this situation. Additionally, the list of all players and their key contribution to the overall market in the form of product innovation and launches is also provided in the report.
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The nature of the global edible insects market is consolidated on account of the presence of a few players. The entry of new players during the forecast period is projected to intensify the overall market competition. Leading players of the global edible insects market are investing in product improvement for better revenue generation. Others are investing in R&D strategies to generate notable revenue during the forecast period.
Some of the key players of the global Edible Insects market include:
The rising demand for food products that has a high protein value among middle-class consumers, coupled with the continuously rising world population, are driving the sales growth of the global edible insects market. Feed and food insecurity, as well as the high cost of animal protein, have boosted the use of edible insects as feed and food. Entomophagy, or the consumption of insects, is thought to benefit consumers' livelihoods and health. The rising inclination towards healthy consumption of food among health conscious people will propel them to try new food items, thereby creating new growth opportunities for the global edible insects market in the forecast period.
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Regionwise, the global edible insects market is segmented into the regions of North America, Latin America, Asia Pacific, Europe, and the Middle East and Africa. These regions are further fragmented into nations. Among these, Europe emerged as the largest revenue generator for the global edible insects market in account of the increasing presence of malnourished children. Insects can serve as a key source of food supplement for such children as it will quickly fulfill the nutritional requirements in malnourished bodies. Besides this, the presence of other important nutrients in insects such as phosphorous, fatty acids, iron, copper, manganese, iron, and other micronutrients will also help increase the popularity of food products consisting of edible insect content in the region.
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