Edible Insects Market size was over USD 33 million in 2015 with global industry gains expected at more than 40% CAGR up to 2023.
Shift in focus towards adopting bug consumption for both human and animal is likely to drive global edible insects market. Increase in bugs consumption owing to growing health concerns and avoiding unhealthy foods may favor product demand. Bugs finds applications animal feed mainly in poultry and fish.
It is estimated that one hectare of land could produce at least 150 tons of insect protein per year. Eatable bug production may increase over the due course, particularly in U.S., UK, China, and Brazil. Consumer awareness regarding health benefits and rising application in food industry has led to increase in edible insects market growth. Climate change has a major role over desired product farming.
Nutritional value bugs includes protein, fibres, dietary energy, minerals, vitamins, and fatty acids. Increase in bug consumption has led to rise in sustainable diet owing to low environmental impact to food and leading healthy life. Sustainable diets are healthy and safe, easily accessible, affordable and nutritious for human consumption.
Protein content depends on feed such as vegetables or waste and it varies by species. Bugs have mineral content which is important in biological process. These bugs are rich in iron, zinc, magnesium, sodium and potassium. Consumption of mineral diet has a positive influence in fighting against diseases. Eatable bugs are source of fat, oils are rich in polyunsaturated fatty acids. These factors may drive insect proteins market over the forecast timeframe.
Bugs play a vital role in plant ecosystems and have lower emissions along with consuming significantly less water and natural resources compared to cattle and swine which has driven industry penetration. Cricket farming is inexpensive, non-toxic, non-hazardous, environment friendly and non-chemical. Increase in bug farming has led to increase in employment owing to rise in income coupled with growth of poor in urban and rural areas.
Insect consumption has led to increase in demand growth owing to economical cost of raw materials, transportation, transaction and set up. The industry may witness high growth opportunities for market linkages. Raw material cost is low which has led to rise in production and directly influence edible insect market price trend. Investment by companies to enhance product portolio may drive demand. Cockroach oil can be used in a paint or industrial lubricant, which may provide growth opportunities for industry participants in expanding their product application base.
Bugs can be harmful to health if not reared or harvested properly. Limited regulatory guidelines for edible insects may challenge industry growth over the forseeable period. The Food and Agricultural Organization (FAO) of the UN, has published reports of bugs, rich in proteins, minerals, emit less greenhouse gases and may be used as sustainable food.
Beetle edible bugs market was over USD 9 million in 2015. Replacement of tradition source of protein fromsources such as chicken and beef may drive beeltle demand over the foreseeable period.
Food products use cricket and mealworm powders which are high in protein source containing all the essential amino acids. Cricket and mealworm bars are used as snack bar, protein bar and energy bar. Grasshoppers is considered as natural food for feeding.
Grasshoper insects as food market may grow significantly and register over 42.5% CAGR. These products are rich in protein source and prove beneficial for repacing meat and poultry consumption.
Snacks dominated the application landscape and was valued at over USD 11 million in 2015. Snacks are high in protein, vitamin, potassium, zinc, calcium, amino acid. This factor may drive edible insects market size.Cricket based protein products are used as healthy snacks. Cricket snack are used to reduce saturated fats and carbohydrates.
Insect Protein bars market is expected to grow significantly at over 42% CAGR up to 2023. Protein bars mainly use cricket, mealworm, and grasshopper and are promoted as energy bars.
Bug based flour applications may observe 42% CAGR and surpass USD 165 million by 2023. They are primarily used in making biscuits, cookies, bread, muffin, desserts, soups, smoothies, and others. Cricket and mealworm are used in powder form and is found in flour products.
Other major application includes chocolates, chips,live feeder insect, roasted food, pasta, biscotti, and insect protein shake. They are also used in alcoholic beverages such as centipede and scorpion vodka and whiskey.
APAC, led by China and Thailand edible insects market size, was the largest region, with over USD 10 million revenue generation in 2015. Sericulture is originated in China for the production of raw silk. In Thailand, over 200 bugs are consumed. They sell both cooked and fresh eatable bugs in wholesale and local markets.
Europe edible insects market share, led by UK, Netherlands and France is set to witness high growth rate during the forecast period. Many of the European Union countries use crickets and mealworms as pet food.
LATAM, led by Brazil, may grow significantly. Brazil may witness over 42% CAGR and exeed USD 55 million revenue by 2023.
Competitive Market Share
The global edible insects market share is competitive with major playerssuch as EnviroFlight, Kreca, AgriProtein, HaoCheng Mealworm Inc.These companies are expanding edible insects application during the forecast period.
Companies such as Thailand Unique, Entomo Farms, Proti-Farm, Micronutris, and Fluker Farms are involved in insect farming and produces organic insect products to distributors, consumers and wholesalers.
Other notable industries include Chapul Inc, Exo Protein, Six Foods, Bitty Foods, Gathr Foods, Edible Inc, Bodhi, Nutribug.
Bugs are considered as feed for both human and animal consumption. Edible insects emit less greenhouse gas and require less water for rearing process. They are considered to be a high nutrition and sustainable food source.
Bug farming includes process and preparation method by using hygiene raw materials and equipment with skilled labors.Processed and unprocessed insect consumption has led to increase in product sale at village markets, supermarkets, street vendors, and restaurants.
Companies invest significantly in raw materials and markets edible insects for human and animal feed consumption. Companies also emphasize on acquiring manufacturers primarily engaged in bug production for consumption.
Few regulatory standards such as Codex Alimentarius use insects as food and feed ingredients. Codex Alimentarius doesn’t contain specific standards on processed or fresh insects for feed and food.
The European Food Safety Agency (EFSA) started to collect information about eatable bugs and include them in normal diet for both animal and human feed. Food insect based products fall under the Federal Food, Drug, and Cosmetic Act (FFDCA). Edible insects are available either uncooked in frozen packets or precooked in food stalls. They are also marketed in ready to eat and microwave packages
Global Market Insights