REDDING, Calif., Sept. 3, 2024 /PRNewswire/ -- According to a new market research report titled 'Edible Insects Market [https://www.meticulousresearch.com/product/edible-insects-market-5156?utm_source=PRnewswire&utm_medium=Paid&utm_campaign=Product&utm_content=3-09-2024] by Product (Whole Insects, Insect Powder, Insect Meal, Insect Oil), Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Animal Feed, Protein Bars & Shakes, Bakery, Confectionery, Beverages)--Global Forecast to 2033.
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THE EDIBLE INSECTS MARKET IS PROJECTED TO REACH $17.95 BILLION BY 2033, AT A CAGR OF 28.6% FROM 2024 TO 2033, WHILE IN TERMS OF VOLUME, THE MARKET IS EXPECTED TO REACH 4.7 MILLION TONS BY 2033, AT A CAGR OF 36.3% FROM 2024 TO 2033.
Metric Value (2024-2033) CAGR (2024-2033) Market Value $17.95 billion 28.60 % Market Volume 4.7 million tons 36.30 %
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Increasing greenhouse gas emissions from the livestock and poultry sectors, the growing demand for insect-based protein in animal feed and pet food applications, the high nutritional value and positive environmental impact of edible insects, and the minimal risk of zoonotic disease transmission associated with edible insect consumption are key factors driving the growth of the edible insects. However, the lack of a standardized regulatory framework, psychological & ethical barriers to consuming insects as food, and the risk of allergies due to insect consumption are factors restraining the growth of this market.
Furthermore, business expansion in untapped markets is expected to generate growth opportunities for the players operating in the edible insects market. However, the lack of awareness regarding the benefits of insect consumption and limitations in scaling up production are major challenges impacting market growth.
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INSECT-BASED PRODUCTS: THE NEXT BIG THING IN PET NUTRITION
Edible insects are a promising alternative protein & nutrition source for the manufacture of pet food due to their high content of protein and essential amino acids, as well as antioxidant properties. They also provide pets with antimicrobial peptides and fatty acids that can enhance immune response and support gut microbiota while also improving feed palatability. Insects can be a valuable alternative to fish meal and soybean meal commonly used in pet food production. Moreover, the use of edible insects can also provide environmental and sustainability benefits. Pet owners are becoming increasingly aware that insects are a sustainable and nutritious food option for their pets.
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Insect-based pet food and treats are gaining popularity in the market. Pet treats, such as flavored cricket biscuits, are enriched with crickets and served to dogs during training. These treats are packed with essential proteins and nutrients. Some pet food products containing insects may have labels such as 'natural' or 'grain-free.' Poultry animals are also fed whole freeze-dried crickets. Entomo Farms, a Canadian enterprise specializing in insect-based foods and pet products, offers cricket biscuits for pets. These biscuits feature novel proteins from crickets, chickpeas, blueberries, and other ingredients, making them a low-calorie and hypoallergenic option for dogs.
The pet food industry is witnessing a surge in the adoption of edible insects in the development of innovative pet food products. For instance:
-- A joint venture between Intrexon Corporation, a bio-engineering firm,
and Darling Ingredients Inc., a pet food ingredients maker, is
specifically focused on developing pet food formulations based on BSF
larvae.
-- Smart Vet Group of Companies, a veteran in the manufacture of animal
feeds and products for animals, signed a Formulation Development and
Contract Manufacturing Memorandum of Understanding with Global Bugs Asia
Co., Ltd. for the formulation development & production of pet food and
supplementary pet products containing cricket powder under the brand
ENTOPOWDER and of whole roasted crickets under the brand ENTOCRISP.
-- Netlaa BV (U.K.), a pet food producer, launched the first hypoallergenic
cat food containing BSF protein in the Netherlands under the brand name
TROVET.
-- Protix offers two BSF-based supplements for pets--ProteinX, a BSF
protein meal, and PureeX, containing proteins and oils to complement wet
pet food.
-- In November 2020, Nestlé launched its range of Purina pet food with
insects as an ingredient.
-- Yora, a pet food manufacturer, offers dog food containing a blend of
insect meal and vegetables for a balanced canine diet.
Furthermore, the growing adoption of pets and increasing customer willingness to provide their pets with high-quality food are expected to drive the demand for premium pet food, increasing the demand for insect products as a key ingredient in pet food manufacturing.
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Edible Insects Market Analysis: Key Findings
By Product: In terms of value, in 2024, the whole insects segment is expected to account for the largest share of 46.3% of the edible insects market. However, the insect powder segment is expected to register the highest CAGR of 29.7% during the forecast period 2024-2033.
By Insect Type: In terms of value, in 2024, the crickets segment is expected to account for the largest share of 53.3% of the edible insects market. However, the black soldier fly segment is expected to register the highest CAGR of 31.3% during the forecast period 2024-2033.
By Application: In terms of value, in 2024, the food & beverages segment is expected to account for the dominant share of the edible insects market. However, the feed & pet food segment is expected to register a higher CAGR of 30.7% during the forecast period 2024-2033.
By End Use: In terms of value, in 2024, the human consumption segment is expected to account for the major share of 55.4% of the edible insects market. However, the animal nutrition segment is expected to register a higher CAGR during the forecast period 2024-2033.
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Geographic Analysis:
Based on geography, the edible insects market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In terms of value, in 2024, Asia-Pacific is expected to account for the largest share of 34.8% of the edible insects market. This market is projected to reach $5,727.5 million by 2033.
Asia-Pacific's dominant position in the edible insects market is attributed to the well-established edible insect commercial farming markets in the region, especially in Thailand, the wide availability and significant production of various insects, the absence of stigmas related to insect consumption, the absence of regulatory barriers to using insects as food & feed, and the presence of key market players in the region. Asia-Pacific is environmentally and culturally diverse, and each country in the region has different cultures, cuisines, and eating habits. One of the major aspects of this geographical and cultural diversity is how insects are used as food or feed. Many countries in Asia-Pacific do not have a negative perception of insect use in food or feed, which is one of the major factors supporting the growth of the edible insects market in the region.
In Asia-Pacific, the growing use of edible insects in animal feed applications is mainly driven by the emergence of 'insects for feed' businesses, the increasing acceptance of BSF and mealworms as animal feed ingredients, strong growth in the animal feed and aquafeed industries, rising costs of traditional feed, and increasing awareness regarding the use of insects as an alternative protein source for animal feed.
In 2024, Thailand is expected to account for the largest share of 43.9% of the edible insects market in Asia-Pacific. The country's large market share is mainly attributed to consumers' high acceptance of edible insects, the presence of a large number of edible insect farms, the increasing use of BSF (Black Soldier Fly) in animal feed, the growth of the livestock industry, and rising feed prices. With more than 20,000 insect farms, insect farming is prevalent throughout Thailand. The country is one of the largest consumers of edible insects globally. Over 50 species of insects are considered edible and consumed throughout the year in Thailand.
North America: The Fastest-growing Regional Market
The edible insects market in North America is projected to register the highest CAGR of 31.0% during the forecast period. In terms of value, in 2024, the U.S. is expected to account for the major share of 80.8% of the edible insects market in North America. North America has witnessed a surge in entomophagy during the last decade, with insect-based foods, feeds, and derivative products being extensively produced in the region. The increasing consumption of edible insect-based foods in the region is mainly attributed to the growing demand for environment-friendly & protein-rich foods, government approvals for the use of edible insects in food and feed, the growing use of BSF for organic waste valorization, continued expansion by major companies in the edible insect sector, and the proliferation of end-use industries in the region. Moreover, increasing familiarity with the use of insects as food, decreasing food neophobia, and changing attitudes towards insects, both in general and as food, are key factors increasing the acceptance of edible insects in North America.
Major players are expanding their operations in the U.S. to capitalize on the growth opportunities in this dynamic market. Some of the notable developments in this market are as follows:
-- In January 2024, EnviroFlight LLC (U.S.) partnered with Entocycle, a
U.K.-based insect farm and technology provider, to develop and trial
Entosight Neo at EnviroFlight's Innovation Center in Apex, North
Carolina (U.S.).
-- In February 2022, InnovaFeed (France) partnered with
Archer-Daniels-Midland Company (U.S.) to construct the world's largest
insect protein facility in Decatur, Illinois, which is scheduled for
completion in 2024. ADM and InnovaFeed aim to produce up to 60,000
metric tons of animal feed protein annually, along with 20,000 metric
tons of oils for poultry and swine rations and 400,000 tons of
fertilizer.
-- In 2022, EnviroFlight LLC (U.S.) opened a Black Soldier Fly Larvae
(BSFL) research and development facility in North Carolina's Research
Triangle. This R&D facility enabled the company to optimize BSFL
efficiency and ensure top nutritional quality across its products.
-- In March 2022, Ynsect acquired Jord Producers (U.S.) to strengthen its
presence in North America's mealworm production and backyard chicken
feed markets.
-- In November 2021, Ynsect partnered with Pure Simple True LLC to sell
high-value protein products, including edible insects, in the U.S.
-- In September 2021, Ynsect launched Molitor larvae protein as an
ingredient for dog treats. This product was launched in the U.S. through
a collaboration with Pure Simple True LLC, a U.S.-based dog food
manufacturer.
The Netherlands Continues to Dominate the Edible Insects Market in Europe
In 2024, the Netherlands is expected to account for the largest share of 26.1% of the edible insects market in Europe. Factors such as the growing demand for animal protein, the early adoption of insects as food and feed, the increasing use of edible insects as an alternative protein source for animal feed, the presence of several insect processing companies, and increasing waste disposal issues contribute to the country's largest market share. The Dutch government, with support from research institutes, is developing an innovative supply chain for industrial insect processing, including large-scale insect farming and the marketing of insect-derived products for food, feed, and pet food applications. The edible insect supply chain design is circular, based on farming insects on organic waste and using them as food or feed ingredients.
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Edible Insects Market: Competition Analysis
This report offers a competitive analysis based on an extensive assessment of the leading players' product portfolios, geographic presence, and key growth strategies adopted over the past 3-4 years. Major companies in the edible insects market have implemented various strategies to expand their product offerings and global footprints and augment their market shares. The key strategies followed by most companies in the edible insects market were product launches, expansions, mergers & acquisitions, agreements, collaborations, and partnerships. The key players operating in the edible insects market include Protix B.V. (Netherlands), Ynsect (SAS) (France), InnovaFeed SAS (France), EnviroFlight, LLC (U.S.), Nutrition Technologies Group (Singapore), Bioflytech S.L. (Spain), Entomo Farms (Canada), Aspire Food Group (U.S.), Global Bugs Asia Co., Ltd. (Thailand), Entobel Holding Pte. Ltd. (Singapore), Entofood Sdn Bhd (Malaysia), SFly Comgraf SAS (France), Hexafly (Ireland), F4F SpA (Chile), Protenga Pte Ltd. (Singapore), nextProtein (France), Enorm Biofactory A/S (Denmark), Hargol FoodTech (Israel), All Things Bugs, Llc (U.S.), Beta Hatch (U.S.), Armstrong Crickets Georgia (U.S.), JR Unique Foods Ltd. (Thailand), Tebrio (Spain), and HiProMine S.A. (Poland).
Edible Insects Industry Overview: Latest Developments from Key Industry Players
-- In March 2024, Ynsect signed a Memorandum of Understanding (MOU) with
the LOTTE R&D center, a Korean leader in the Tech industry. The
agreement includes conducting joint research to develop insect-based
food products, working together to increase knowledge on edible insects'
health claims, and conducting and sharing surveys on 'insects in human
food' among consumers in Europe and South Korea. This partnership will
enable Ynsect to accelerate product development for human consumption
and expand its activity in Asia.
-- In February 2024, InnovaFeed SAS (France) launched a new brand, Hilucia,
with two new products-Protein for Monogastrics and Oil for Aqua.
-- In January 2024, EnviroFlight LLC (U.S.) partnered with Entocycle, a
U.K.-based provider of insect farms and insect farming technology, to
develop and trial Entosight Neo, Entocycle's Edible Insects breeding
technology solution for neonate counting and dosing to optimize
production efficiencies.
-- In December 2023, Entobel opened a new insect meal production factory in
Vietnam. The facility can produce 10,000 metric tons of H-meal per year.
-- In October 2023, Protix B.V. (Netherlands) partnered with Tyson Foods,
Inc. (U.S.) to produce more sustainable protein. This strategic
development is expected to support the growth of the insect ingredients
industry and expand the use of insect ingredient solutions in creating
efficient, sustainable proteins and lipids.
-- In May 2023, Ynsect launched Sprÿng, its new B2B2C brand for the pet
food market.
-- In April 2023, InnovaFeed SAS (France) opened an extension of its Nesle
production site in northern France. This expansion was aimed at
increasing the company's insect protein production capacity by 15,000
tons per year.
-- In April 2023, Nutrition Technologies Group (Singapore) signed a $100
million trade deal MoU with trading firm Sumitomo Corporation to expand
pet food and aquafeed products' distribution in the Japanese market.
-- In February 2023, Entomo Farms acquired Snackyard BSF (Canada), a Black
Soldier Fly (BSF) company specializing in producing BSF larvae for the
pet food market. This acquisition allowed Entomo Farms to expand its
reach into the pet food market.
-- In March 2022, Nutrition Technologies Group and Evonik Industries
(Germany) signed an agreement to jointly conduct research & development
on the amino acid requirements of Black Soldier Flies (BSF) in Southeast
Asia.
-- In October 2021, Entobel Holding Pte. Ltd. (Singapore) partnered with
Vinh Hoan Corp. (Vietnam) to explore sustainable ways to produce
insect-fed seafood with a reduced carbon footprint.
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Scope of the Report:
Edible Insects Market Assessment--by Product
-- Whole Insects
-- Insect Powder
-- Insect Meal
-- Insect Oil
Edible Insects Market Assessment--by Insect Type
-- Crickets
-- Black Soldier Flies
-- Mealworms
-- Buffalo Worms
-- Grasshoppers
-- Ants
-- Silkworms
-- Cicadas
-- Other Edible Insects
Edible Insects Market Assessment--by Application
-- Food & Beverages
-- Feed & Pet Food
Edible Insects Market Assessment--by End Use
-- Human Consumption
-- Animal Nutrition
Edible Insects Market Assessment--by Geography
-- North America
-- U.S.
-- Canada
-- Europe
-- Netherlands
-- Belgium
-- France
-- Denmark
-- Finland
-- Germany
-- Rest of Europe (RoE)
-- U.K.
-- Spain
-- Poland
-- Ireland
-- Sweden
-- Italy
-- Other RoE Countries
-- Asia-Pacific
-- Thailand
-- China
-- South Korea
-- Vietnam
-- Japan
-- Australia
-- Rest of Asia-Pacific (RoAPAC)
-- Malaysia
-- India
-- Singapore
-- Other RoAPAC Countries
-- Latin America
-- Middle East & Africa
Edible Insects Market Research Summary:
Particulars Details --- Page No. 298 Format PDF Forecast Period 2024-2033 Base Year 2023 CAGR (Value) 28.60 % Market Size (Value) USD 17.9 Billion by 2033 CAGR (Volume) 36.30 % Market Size (Volume) 4.7 Million Tons by 2033 Countries Covered North America (U.S. and Canada), Europe (Netherlands, Belgium, France, Denmark, Finland, Germany, and Rest of Europe), Asia-Pacific , Latin America, and the Middle East & Africa.
Edible Insects Market Related Press Release:
Middle East & Africa Edible Insects Market to be Worth $282.9 Million by 2030
https://www.meticulousresearch.com/pressrelease/948/middle-east-and-africa-edible-insects-market-2030 [https://www.meticulousresearch.com/pressrelease/948/middle-east-and-africa-edible-insects-market-2030?utm_source=PRnewswire&utm_medium=Paid&utm_campaign=Product&utm_content=3-09-2024]
South East Asia Edible Insects Market to Reach $1.58 Billion by 2030
https://www.meticulousresearch.com/pressrelease/791/south-east-asia-edible-insects-market-2030 [https://www.meticulousresearch.com/pressrelease/791/south-east-asia-edible-insects-market-2030?utm_source=PRnewswire&utm_medium=Paid&utm_campaign=Product&utm_content=3-09-2024]
Europe Edible Insects Market to Reach $2.98 Billion by 2030
https://www.meticulousresearch.com/pressrelease/795/europe-edible-insects-market-2030 [https://www.meticulousresearch.com/pressrelease/795/europe-edible-insects-market-2030?utm_source=PRnewswire&utm_medium=Paid&utm_campaign=Product&utm_content=3-09-2024]
Edible Insects Market to be Worth $17.9 Billion by 2033
https://www.meticulousresearch.com/pressrelease/184/edible-insects-market-2033 [https://www.meticulousresearch.com/pressrelease/184/edible-insects-market-2033]
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