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

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Global edible insects and insect protein market is currently estimated at $495.5 million in 2018. Growing demand for alternate sources of protein which are sustainable, rising consciousness about the health-related problems and ever rising awareness about the harmful impact of the animal farming are some of the major reasons behind rapidly rising market of insect protein across the world. Though, the acceptability of consuming insects is one of the major restraint that insect protein market face, however it is expected that in coming years more and more consumers would switch to eating insects because of its various advantages over other food sources.

Market Dynamics

Insect production is a budding agricultural industry because insects have a high nutritional value and their rearing has a low environmental impact. The insect industry is gaining support from Government bodies due to its clean image. The rising anti-animal farming global narrative has triggered intensive investments and research in insect farming and processing. Insects are already used as a natural ingredient for human food applications. For example, the red colorant carmine used in yogurt is an extract of the female cochineal insect. In most developed countries people have aversion towards eating insects due to inhibitions and ick factor. For consumer acceptance, protein extracts from insects for further use in food products may be particularly relevant for countries that have no history of consuming insects, such as Europe and North America.

Insect industry is gaining prominence as a solution to food security. The global demand for animal protein is expected to increase 70% by 2050. The key challenge for the livestock industry is to produce sustainable meat with limited resources and create less pressure on the environment. Insect protein has evolved as a perfect sustainable substitute for the animal protein. Another demand driving factor of insect protein is growing hue and cry over use of chemical fertilizers and its harmful effects. The growing application of bio-fertilizers and organic products has also paved way for insect industry.

North America & Europe-Hotspots of opportunities

The edible insect and insect protein market is forecasted to be worth over $1033.7 million by 2023, registering a CAGR of 15.8% during the forecasting period of 2018 to 2023. Asia-Pacific shares highest share of the market accounting for 38% of market share. China is one of the leading countries with highest consumption share followed by Japan, Australia and Thailand. The practice of consuming insects as a food has been prevailing for long in these countries. And with growing research, this trend is further going to be intensified.

North America shares around one-fifth of the market share. Low acceptability due to the ick factor is the major reason behind less development of insect market in the region. However, in recent years, increasing consumers are becoming aware about the health as well as environmental benefits of the insects as a food source. This would help more and more consumers to turn themselves to prefer eating insects and its products over other food types. U.S. is one of the leading markets of insects in the region which is followed by Canada and Mexico. 

Europe shares around 12% of global insect markets. European insect market shares many similarities to the market of North America in terms of drivers, restraints and opportunities. Switzerland and Belgium are largest producers and consumers of insect market in the Europe which is followed by Finland, France, U.K and Russia. The approval of Insects across animal feed by European commission provided the European insect market a major boost. In coming years, the European Commissions is expected to regulate the insect market which would aid its growth.

South American edible insect and insect protein market is comparatively highly developed to that of North American and European market. The reasons behind this is the familiarity to insect products. Brazil is the largest consumer of edible insect & insect products market share in the region. While Argentina and Colombia are the opportunity segment with its large consumer base. The trend of adopting sustainable food source would help the edible insect market to grow further in the region. Africa accounts for 14% of market share. The low cost of insect products and established acceptability among the masses has made Africa the hotspot for the manufacturers. Most of population in Africa is below global average poverty line. And since insect can provide affordable option for food source, its demand is rising rapidly in many countries across the region. South Africa shares highest edible insect market share followed by Egypt and Nigeria.

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                                                                           

                   4.1.2 Powder                                                                              

                   4.1.3 Extracted Protein                                                                          

                             4.1.3.1 Protein Isolate                                                                           

                             4.1.3.2 Textured Protein                                                               

                             4.1.3.3 Powder Capsules                                                              

                   4.1.4 Meal                                                                                 

                   4.1.5 Oil                                                                                    

                   4.1.6 Others                                                                              

          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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