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Published June, 2018
Global Edible Insect Market- Size, Trends, Competitive Analysis and Forecasts (2018-2023)

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Many people across the world consume insect which is referred as entomophagy. Since past few years, insect-based food has gained momentum in western countries, especially with respect to crickets. Since 2012, more than 30 startups have been launched in North America that are specializing in crickets for its application across food industry. Of all the startups, some of them are either selling the cricket a as food meal awhile many are farming insects. Some of the products that can be manufactured by using the powder of crickets includes cricket chips, cricket granola bars, cricket crackers, cricket cookies and cricket chocolates.

Consumption of insect is increasingly promoted as an alternative protein source for animals as well as for humans. Many researchers have identified potential nutritional opportunity that is presented by insects because of key micronutrients and protein content. In Asian countries, around 150 different species of insect are being consumed, harvested and are important staple diet. In Thailand, rising demand of whole insect consumption has resulted in development of mass-rearing facilities. Cricket is most commonly reared insect species by the farmers in the country which also provides valuable source of income. Size and availability are two important aspects of insects that determines its popularity in consumption. Along with crickets, some of the most popular consumed insects includes beetles, caterpillars, bees, grasshoppers, locusts, wasps, ants, termites, flies, dragonflies, etc. The global edible insect market revenue was estimated at $224.2 million in 2018 and is forecasted to grow at a CAGR of 16.1% during the forecast period 2018 to 2023.

Live Insects

Though for most of the population eating live insects sounds strange but for some it is quite prevalent in Asian countries. Live mealworms are pan fired and can also be eaten alive and raw. It contains around 20% of protein and 2% of fiber and is considered as good nutritional food for human.

There are many companies across the world who are indulged in the business of supplying live insects for feed as well as for foods. Some of the online websites who supplies live insects includes Reptile Centre (U.K), Livefoods Unlimited (Australia), Reptile Foods, Livefoods Direct Ltd. (U.K) and Josh’s Frogs (U.S.). Wax worms, Mealworms, red Worms, Locusts, Flies, Cockroaches, Grubs, Beetles, Snails, etc.

Dried

Dried Insects are excellent way to include naturally produced insect-based protein in the diet. On average dried insect has around protein content of 40 to 65% with other essential minerals, vitamins and amino acids. Dried insect is used as a food application and also across feed industry. Dried bloodworm containing around 58% of protein is used mainly in dry food mixes and in wet meals to increase protein levels. Similarly, dried cricket also contains same amount of protein content and is used as a part of many food diets. Dried Daphnia, dried Shrimps and dried earthworms are also among the dried insects. The global dried insects market was worth $107 million in 2018.

Frozen

With rising demand of natural and sustainable food, in many cultures the demand of insect-based food is growing. Feeding insects live is preferred by many people, but it is necessary to ensure the nutritional quality of the insects. Many researchers suggest that like live insects, frozen insects also enhances the nutritional as well as functional value of a diet. Hence, the consumption across various industries is estimated to increase at the CAGR of 16.2% during the forecast period.

Freeze Dried

In freeze drying methods, under special condition the moisture is extracted from the insects. The nutritional value and the insect structure are preserved as opposed to dried insects. There are various advantages of freeze-dried insects which includes high nutritional value, high protein content, well preserved taste and color and easy to dose. For animal feed as well, insects are natural protein sources in a food chain. The need of the insects in the animal feed highly depends upon the type of animal. Some animals entirely depend upon the insect-based food. While, for other animal types any form of insects can be used in their feeds.

Freeze dried insects provides high possibility for inclusion in a well-balanced meal, depending upon the animal needs. It is also a valuable supplement for the menu of different animals. It can also be used in all types of fodder including breeding and concentrated fodders. With growing demand from animal feed industry, the freeze dried insects market is expected to reach $27.7 million by 2023.

Canned Insects

Canned food increases the shelf life from one to five years and in some cases under specific condition it can extend even longer. The transport and storage of fresh insects is a very big problem when large distance is involved, thus canned food is one of the best methods to prevent any damage and preserve the insects. Canned insects’ foods take very less time and is stored for many months. Hence, many street food stalls prefer to use canned items over the fresh ones. Before canning the insects, they are processed, lab tested, checked regularly and undergo intensive processing and packing to ensure quality and safety. Some of the popular canned insect-based products includes black ants, diving beetle, tarantula, mealworms, crickets, sago worms, silkworms, super worms, squash bugs, Scorpio, etc.

Key Deliverables

  • Market trends since 2014 and five year forecasts of market growth 
  • Detailed analysis of the micro and macro elements influencing demand trends
  • Identifying opportunity spaces across segments and countries  
  • Supply & demand side trend and analysis
  • Price trend analysis, investment prospects and competition pattern
  • Insights on growth potential of the market in key countries 
  • Detailed analysis of major producers covering financial investments & strategies adopted
  • Competitive landscape of the industry

 

1. Introduction                                                                                              

          1.1 Research Methodology                                                                               

          1.2 Scope of the Study                                                                                   

          1.3 Assumptions                                                                                  

2. Summary                                                                                        

          2.1 Market Summary by Type                                                                                    

          2.2 Market Summary by Application                                                                  

          2.3 Market Summary by Geography                                                                  

3. Industry Dynamics                                                                                      

          3.1 Drivers                                                                                 

                   3.1.1 Growing demand for sustainable sources of protein                                      

                   3.1.2 Rising health consciousness especially in developing countries               

                   3.1.3 Increasing environmental impacts of factory farming of animals            

                   3.1.4 Strengthening demand for dietary Supplements                                  

                   3.1.5 Search for additional sources of protein for animal feed                       

          3.2 Restraints                                                                             

                   3.2.1 Lack of commercially feasible extraction process                      

                   3.2.2 Less commercial viability and consumer acceptance                                     

                   3.2.3 Low awareness about the product                                                   

                   3.2.4 Regulatory Hurdles                                                                        

          3.3 Opportunities                                                                                 

                   3.3.1 Rising global demand for protein                                                     

                   3.3.2 Growth in functional food & nutraceuticals industry                              

                   3.3.3 Increasing demand for lactose-free, gluten free protein products 

          3.4 Porter’s Five Forces Analysis                                                                       

                   3.4.1 Bargaining power of Suppliers                                                         

                   3.4.2 Bargaining power of Buyers                                                            

                   3.4.3 Degree of Competition                                                                  

                   3.4.4 Threat of Substitution                                                                    

                   3.4.5 Threat of new entrants                                                                            

          3.5 Future Trends in Insect Protein Industry                                                        

          3.6 Value Chain Analysis                                                                                  

          3.7 Industry Policies & Regulations                                                                    

          3.8 Market Innovations                                                                                   

4. Market Size and Forecast                                                                                       

          4.1 Market Share, Product Type                                                                        

                   4.1.1 Whole Insect                                                                      

                             4.1.1.1 Live                                                            

                             4.1.1.2 Dried                                                           

                             4.1.1.3 Frozen                                                                  

                             4.1.1.4 Freeze Dried                                                          

                             4.1.1.5 Canned                                                                 

          4.2 Market Share, Insect Type                                                                         

                   4.2.1 Beetles                                                                    

                   4.2.2 Caterpillar                                                                          

                   4.2.3 Bees, ants and wasps                                                                    

                   4.2.4 Locust                                                                     

                   4.2.5 Grasshopper                                                                      

                   4.2.6 Cricket                                                                     

                   4.2.7 Cicadas                                                                    

                   4.2.8 Others (Termites, Dragon flies, Flies)                                      

          4.3 Market Share, Application                                                                                    

                   4.3.1 Food                                                                       

                             4.3.1.1 Confectionary                                                                  

                             4.3.1.2 Bakery                                                                  

                             4.3.1.3 Snacks                                                                  

                             4.3.1.4 Dairy Alternative                                                               

                             4.3.1.5 Meat Analogues and Extenders                                  

                             4.3.1.6 Others                                                                  

                   4.3.2 Beverages                                                                        

                   4.3.3 Dietary Supplements                                                                     

                   4.3.4 Animal Feed                                                                       

                             4.3.4.1 Poultry Feed                                                          

                             4.3.4.2 Swine Feed                                                            

                             4.3.4.3 Pet Food                                                               

                             4.3.4.4 Aquafeed                                                               

                   4.3.5 Fertilizers                                                                           

                   4.3.6 Others                                                                     

5. Country Market Share                                                                                           

          5.1 North America                                                                                

                   5.1.1 U.S.                                                                        

                   5.1.2 Canada                                                                    

                   5.1.3 Mexico                                                                     

                   5.1.4 Others                                                                     

          5.2 Europe                                                                                

                   5.2.1 U.K.                                                                        

                   5.2.2 Germany                                                                           

                   5.2.3 France                                                                     

                   5.2.4 Italy                                                                        

                   5.2.5 Belgium                                                                   

                   5.2.6 Switzerland                                                                        

                   5.2.7 Russia                                                                     

                   5.2.8 Finland                                                                    

                   5.2.9 Others                                                                     

          5.3 Asia-Pacific                                                                                     

                   5.3.1 China                                                                      

                   5.3.2 India                                                                       

                   5.3.3 Japan                                                                      

                   5.3.4 South Korea                                                                       

                   5.3.5 Australia                                                                  

                   5.3.6 Thailand                                                                   

                   5.3.7 Malaysia                                                                            

                   5.3.8 Saudi Arabia                                                                       

                   5.3.9 Others                                                                     

          5.4 South America                                                                                

                   5.4.1 Brazil                                                                       

                   5.4.2 Argentina                                                                           

                   5.4.3 Colombia                                                                           

                   5.4.4 Others                                                                     

          5.5 Africa                                                                                  

                   5.5.1 South Africa                                                                       

                   5.5.2 Egypt                                                                      

                   5.5.3 Nigeria                                                                     

                   5.5.4 Others                                                                     

6. Competitive Analysis                                                                                             

          6.1 Market Share Analysis                                                                                

          6.2 Growth Strategies of leading players                                                   

          6.3 Investment and Development Prospects                                                       

                   6.3.1 Investment in past five years                                                

                   6.3.2 Investment Opportunities                                                     

          6.4 Competition Pattern                                                                                  

                   6.4.1 Concentration Ratio                                                                       

                   6.4.2 Industry Competition                                                                     

          6.5 Price Trend Analysis                                                                                   

                   6.5.1 Product Classifications and Their Prices                                             

                   6.5.2 Factors Influencing Prices                                                               

7. Company Profiles                                                                                       

          7.1 HaoCheng Mealworm Inc.                                                                           

          7.2 Proti-Farm Holding NV                                                                                

          7.3 Enviroflight                                                                                     

          7.4 Exo Inc.                                                                               

          7.5 Agriprotein Technologies                                                                            

          7.6 nextProtien                                                                                     

          7.7 Nutrition Technologies                                                                               

          7.8 Ynsect                                                                                 

          7.9 Entocycle                                                                             

          7.10 Agroloop                                                                            

          7.11 Enterra Feed Corporation                                                                          

          7.12 Protix                                                                                 

          7.13 Flying SpArk                                                                                 

          7.14 Chapul Inc.                                                                                   

          7.15 Entofood                                                                            

          7.16 Innovafeed                                                                                   

          7.17 Insectum                                                                                     

          7.18 Thailand Unique                                                                             

          7.19 Kreca                                                                                 

          7.20 Bitty Foods                                                                                   

          7.21 Gathr Foods                                                                                 

          7.22 Unique                                                                               

          7.23 Edible Inc.                                                                                    

          7.24 Nutribug                                                                             

          7.25 Crik Nutrition                                                                                 

          7.26 Bugsolutely                                                                                   

          7.27 Bugeater Foods                                                                             

          7.28 Micronutris                                                                                   

Appendix                                                                                            

          Sources                                                                                     

          Disclaimer                                                                                  

 

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