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

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Asia-Pacific region is the fastest growing economic region in the world. The economy of most of the countries in the region is growing at a steady pace. China and India are two of the major countries both in terms of population and economic growth rate. Other countries such as Indonesia, Thailand, and Philippines are also growing at a decent rate due to rapid industrialization and infrastructure development in last decade. The food and beverage industry in APAC region has changed significantly since last few years due to rising concern about the health, and growing demand of quality and nutritious products.

The protein industry in the region is growing at a fastest rate compared to other regions across the world. The popularity of whey protein and soy protein is highest particularly among the gym goers and fitness enthusiast. However, due to rising concern about the lactose sensitivity & gluten intolerance, increasing demand for sustainable sources of protein, the competition between food and feed industry for raw materials, the demand of insects as a food source is growing at a rapid pace since past few years. China is one of the largest markets of edible insect and insect protein in the region which is followed by Japan, Australia and Thailand. HaoChen Mealworn Inc, (China), Ento foods (Malaysia), Edible Inc, (South Korea), Bugsolutely (Thailand), Thailand Unique (Thailand) and Nutrition technologies (Vietnam) are some of the leading edible insect and insect protein producers in the region. Many of these companies are actively expanding their product portfolio to serve wide range of customers across various industry segments.  

Major drivers of edible insect in China, Japan and Thailand are growing concern about the environment and unethical treatment of factory farmed animals, rising population affected by lactose intolerance and gluten sensitivity thereby demanding for lactose free and gluten free products and increasing youngsters indulging in fitness and sports activity. Moreover, in some Asian countries, the practice of eating insects is routine which has resulted in ready acceptability of edible insect products across wide range of bakery, confectionery, meat substitute and snacks products. Many major companies in this industry are trying to capitalize on these drivers. Capacity and product line expansion are the major strategies adopted by these players. Investment in R&D to innovate new products which meets the demand of channel partners across the supply chain in terms of cost, taste and flavors is another widely adopted strategy.

The protein market is growing at rapid pace since past few years due to growing demand of supplements products. Whey protein and soy protein are widely popular among the sports person and body builders which could pose major restraint to the adoption of insect protein in the region. The regulations related to the edible insect industry are not defined in many countries in APAC region, which makes it difficult for the new players to introduce new product into the market. The rising awareness about the health benefits and affordability, consumers which falls in middle and lower class category are expected to provide huge opportunity for the insect producers to expand their market reach.

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
  • 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 Asia-Pacific                                                                           

                   5.1.1 China                                                             

                   5.1.2 India                                                             

                   5.1.3 Japan                                                            

                   5.1.4 South Korea                                                             

                   5.1.5 Australia                                                         

                   5.1.6 Thailand                                                         

                   5.1.7 Malaysia                                                                  

                   5.1.8 Saudi Arabia                                                             

                   5.1.9 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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