The fastest growth of this region is mainly attributed to the growing demand for environment-friendly high-protein diets, aversion to highly processed foods, increasing demand for insect-based foods, presence of a large number of insect-based food product manufacturers, and growing concerns about meat production. The North American region is expected to register the fastest CAGR during the forecast period (In terms of value). This growth is mainly due to the increasing demand for protein-rich food to feed the exponentially growing global population, the high nutritional value of insects in human nutrition, and the growing demand for environment-friendly alternative sources of protein.Īn in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights about the five geographic regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The large share of this segment is mainly attributed to the huge availability of whole insects, growing consumption of insect-based foods, the high nutritional value of insects, and the growing demand for environment-friendly, alternative protein sources.īased on end use, the human consumption segment is slated to grow with the fastest CAGR during the forecast period (In terms of value). Also, this segment is expected to register the highest CAGR during the forecast period owing to the high nutritional value, easy farming, and easy processing of crickets their incorporation into various food recipes and products, and the increasing demand for cricket-based products, such as protein powders, protein bars, and snacks.īased on application, the processed whole insects segment is expected to command the largest share of the edible insects market during the forecast period (In terms of value).
The increasing inclination towards fitness and wellness, rising number of health clubs and fitness centers preferring and serving insect powder, the emergence of several start-ups producing insect protein bars and shakes, and busy lifestyles that demand highly nutritious and convenient foods are also some of the major drivers for the growth of this segment.īased on insect type, the crickets segment is expected to dominate the edible insects market during the forecast period of 2020-2027 (In terms of value). The fast growth of this segment is mainly attributed to its ease of handling, transportation, storage, and application. However, non-standardized regulatory framework, psychological and ethical barriers to insects as food, and allergies due to insect consumption are expected to restrain the future growth of this market marginally.īased on product, the insect powder segment is estimated to grow at the fastest CAGR during the forecast period (In terms of value). Emerging economies provide significant opportunities for manufacturers in the edible insects market. This market is characterized by more diversified operations, which offer shelf-stable and healthy products, mainly due to the growing emission of greenhouse gases from livestock and poultry, high nutritional value of insects, low environmental impact over their entire life cycle, and low risk of transmitting zoonotic diseases, indicating the strong growth potential of the edible insects market. Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, and challenges. Moreover, in terms of volume, the edible insects market is expected to grow at a CAGR of 28.5% from 2020 to 2027 to reach 13,98,862.6 tonnes by 2027. In terms of value, the edible insects market is expected to grow at a CAGR of 26.5% from 2020 to 2027 to reach $4.63 billion by 2027. This report provides an in-depth analysis of the edible insects market across the globe emphasizing on the current market trends, market size, recent developments, and providing the forecast till 2027. 08, 2021 (GLOBE NEWSWIRE) - The "Edible Insects Market by Product (Whole Insect, Insect Powder, Insect Meal, Insect Oil) Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Animal Feed, Protein Bar and Shakes, Bakery, Confectionery, Beverages) - Global Forecast to 2027" report has been added to 's offering.