Edible Insects Market size is valued at $323.3m by 2019, and is anticipated to grow at a CAGR of 37.1% during the forecast period 2020-2025. The Edible Insects Market growth rate is attributed to easy availability, protein extraction, high nutritional profile, and economic processing techniques. Edible insects can act as a great solution for this owing to their capability to satisfy the food need with the high nutrition for human consumption, and also, the use as food has ecological advantages over conventional meat and other sources. In addition, insect can be a good source of protein for animals as they are not only able to provide the potential to extract protein from waste material, but also facilitate significant reductions in waste volume. From increasing farming of insects owing to minimum investment along with rising cases of livestock diseases is making consumers opt for safe and economical edible insect products to market players rapidly investing in R&D and marketing to capitalize on emerging trends in food & beverage sector by introducing innovative products is anticipated to propel the Edible Insects Market during the forecast period 2020-2025.

Key Takeaways

North America dominated the Edible Insects Market with a share of 37% in the year 2019.        
The factors such as high cost of animal protein, environmental sustainability with production and consumption of edible insects, high nutritional value of insects, and low risk of transmitting zoonotic diseases are amongst the major factor projected to impel growth of Edible Insects Market.
Low cost of farming, high population growth, and shortages in protein rich food are the key factors owing to the growth in the segment during forecast period 2020-2025.

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Application Type- Segment Analysis

On the basis of Application type, Insect Protein Bar and Shakes segment held the major share of the market in terms of revenue and is poised to grow with a CAGR of 26.6%. The reason may be attributed to the inclination of young generation towards the fitness and wellness with rising number of health clubs and fitness centers. Moreover, protein bars and shakes are generally preferred by athletes and sportspersons owing to its gluten free nature and thus propelling the demand for the product. Apart from these, vast application and easy availability coupled with busy lifestyle and swelled disposable income is anticipated to further expand the consumption rate over the projection period of 2020-2025. 

Drivers – Edible Insects Market

Rising awareness on potential benefits of Edible Insects 

With the rise in awareness on potential benefits of edible insect’s products and increasing demand for naturally fortified ingredients coupled with changing dietary patterns towards low calorie and high protein sources industry players are developing novel techniques to market their products by offering free samples, discounts, and attractive packaging which can be considered as an Edible Insects key driver of the market during the forecast period 2020-2025. 

Edible Insects Market top 10 companies are Beetle Jelly, Bugs in Mugs, Haocheng, Crickester, Eddiebug, Gran Mitla, Insecteo, Bugsy Bros, Bug foundation, Insectables and others.

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