Edible Insects Market Set for 37.5% CAGR Growth by 2033, PMR Report

The edible insects market has gained significant traction over the last decade due to a combination of rising global population, increasing demand for sustainable food sources, and a growing recognition of insects as a highly nutritious alternative to traditional protein sources. Insects such as crickets, mealworms, locusts, and grasshoppers, which were traditionally consumed in many parts of Asia, Africa, and Latin America, are now making their way into Western markets as both standalone foods and ingredients in various products.

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As of 2023, the edible insects market is experiencing rapid expansion, driven by innovations in food processing, a growing number of startups, and increased investment from food industry giants. Despite its growth, the market also faces challenges related to consumer acceptance, regulatory frameworks, and production scalability. This article provides a comprehensive overview of the edible insects market, its growth drivers, restraints, and recent developments shaping its future trajectory.

Market Overview

Global consumption of market for edible insects stood at around US$ 7,266.4 Mn in 2023, and is slated to increase at a CAGR of 37.5% to reach a valuation of US$ 1,75,392.6 Mn by 2033.This growth is primarily driven by the growing need for sustainable food sources that address environmental concerns such as greenhouse gas emissions, land use, and water consumption associated with traditional livestock farming.

Edible insects are rich in essential nutrients, particularly proteins, fats, vitamins, and minerals. They have been recognized as a sustainable and environmentally friendly source of protein by the United Nations Food and Agriculture Organization (FAO), which has further fueled interest in the market. Insects require significantly less land, water, and feed to produce the same amount of protein as cattle, poultry, or fish, making them a viable solution to global food security challenges.

Key Product Segments

The edible insects market can be divided into several key product segments:

1. Whole Insects: Consumed directly, often as snacks or in traditional dishes.
2. Insect Flour: Ground into powder and used as an ingredient in protein bars, baked goods, and pasta.
3. Insect-Based Animal Feed: Used to replace conventional feed ingredients like soy and fishmeal.
4. Insect Protein Extracts: Used in supplements and functional foods for high-protein diets.
In addition to food applications, edible insects are being explored for their potential in pharmaceuticals, cosmetics, and biofuels, further expanding their market potential.

Market Growth Drivers

Several factors are contributing to the rapid growth of the edible insects market:

1. Sustainability and Environmental Concerns

The environmental benefits of farming insects over traditional livestock are a primary driver of the market. Insects require fewer resources such as water, feed, and land to produce the same amount of protein. For example, crickets need just 1.7 kg of feed to produce 1 kg of meat, compared to 2.5 kg for chickens, 5 kg for pigs, and 10 kg for cattle. Furthermore, insects produce significantly fewer greenhouse gases and can be farmed in vertical farms, reducing their ecological footprint.
As the global population is expected to exceed 9 billion by 2050, there will be increasing pressure on agricultural systems to meet the demand for food. Edible insects present a scalable, low-cost solution to this growing problem, especially in regions facing water scarcity or land degradation.

2. Nutritional Benefits

Edible insects are rich in protein, healthy fats, fiber, and essential vitamins and minerals. For instance, crickets contain about 65-70% protein, which is higher than beef or chicken, and are a good source of omega-3 fatty acids, iron, and zinc. This makes them an attractive option for consumers seeking high-quality protein sources that are also low in cholesterol and saturated fats.

As more consumers shift towards healthier and more natural food options, the nutritional profile of edible insects is becoming a key selling point. Insects are particularly popular among fitness enthusiasts, athletes, and people following paleo or diets, who appreciate their high protein content.

3. Growing Demand for Alternative Proteins

The demand for alternative proteins is rising globally due to concerns over the environmental impact of meat production and the growing popularity of plant-based and insect-based proteins. The plant-based protein market, led by products such as Beyond Meat and Impossible Foods, has paved the way for insects to gain acceptance as a legitimate protein source in Western markets.

Insects are seen as a viable alternative to meat and soy-based products, especially for people who are allergic to soy or gluten. Additionally, as consumers become more aware of the need for sustainable food practices, edible insects are gaining traction as part of a broader trend towards reducing the reliance on conventional animal protein.

4. Technological Innovations and Product Development

Technological advancements in insect farming, processing, and product formulation are making it easier to incorporate insects into everyday food products. For example, startups are developing automated insect farming systems that reduce labor costs and increase production efficiency. Additionally, companies are exploring ways to mask the appearance and taste of insects in processed foods to overcome consumer hesitation.

Recent product innovations include cricket protein bars, pasta made from insect flour, and even burgers and sausages containing insect protein. Such products are designed to appeal to consumers who may be hesitant to eat whole insects but are willing to try insect-based foods in familiar formats.

Market Restraints

Despite the promising growth of the edible insects market, several challenges must be addressed to unlock its full potential:

1. Consumer Acceptance and Cultural Barriers

One of the biggest hurdles to widespread adoption of edible insects in Western markets is the "yuck factor." Many consumers in Europe, North America, and other developed regions are not accustomed to eating insects and may find the idea unappealing. Overcoming these cultural and psychological barriers will be crucial for the market's growth.
However, there are signs that attitudes are shifting, particularly among younger, environmentally conscious consumers. Education campaigns highlighting the environmental and nutritional benefits of edible insects, along with clever marketing and product branding, will play a

key role in changing perceptions.

2. Regulatory Hurdles

The regulatory landscape for edible insects is still evolving, and in many regions, there are significant barriers to market entry. In the European Union, for example, edible insects fall under the Novel Food Regulation, which requires extensive safety assessments before new food products can be approved for sale. The process can be time-consuming and costly, limiting the ability of smaller companies to enter the market.

In contrast, some countries in Asia and Africa have long histories of insect consumption and more lenient regulations, which makes it easier for companies to operate. However, harmonizing regulations across different regions will be important for the global growth of the market.

3. Supply Chain and Scalability Issues

The edible insect industry is still in its infancy, and scaling up production to meet growing demand presents significant challenges. Insect farming is currently a labor-intensive process, and many farms are small-scale operations. To meet global demand, there will need to be significant investments in automation, supply chain infrastructure, and research into improving farming efficiency.

Additionally, ensuring the quality and safety of insect products will be crucial, as contamination or disease outbreaks could severely damage consumer trust in the market.

Recent Developments

The edible insects market has seen several notable developments in recent years:

1. Increased Investment and M&A Activity

Major food companies and venture capital firms are increasingly investing in edible insect startups, signaling confidence in the market's long-term potential. In 2021, French insect farming startup Ÿnsect raised $372 million in a Series C funding round, one of the largest investments in the alternative protein space to date. Similarly, companies like Aspire Food Group and Entomo Farms have attracted significant investments to expand their production capacities.

Additionally, mergers and acquisitions are beginning to take place as larger companies seek to diversify their protein portfolios. For example, Cargill, one of the largest agricultural companies in the world, has invested in insect-based animal feed startups.

2. Expansion into Mainstream Retail

Insect-based products are increasingly appearing on the shelves of mainstream grocery stores and online platforms. In the United States, companies like EXO and Chirps are selling cricket-based protein bars and chips in national retail chains like Whole Foods and Sprouts. Similarly, in Europe, products such as insect-based pasta and snacks are becoming more widely available in supermarkets.

3. Insect-Based Pet and Animal Feed

While the focus of the edible insects market has largely been on human consumption, there is growing interest in using insects for pet and animal feed. Insects are a sustainable and nutritious alternative to conventional feed ingredients like soy and fishmeal, which are linked to environmental degradation. Companies like Protix and InnovaFeed are leading the way in producing insect-based feed for poultry, fish, and pets.

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Conclusion

The edible insects market is poised for significant growth over the next decade, driven by increasing demand for sustainable and nutritious protein sources, technological advancements, and growing consumer awareness. However, the market also faces challenges related to consumer acceptance, regulatory frameworks, and production scalability. As the market evolves, continued investment in research, education, and infrastructure will be crucial to unlocking its full potential and ensuring that edible insects become a mainstream part of the global food system.

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This release was published on openPR.