(Food-Beverage-News.Com, October 03, 2022 ) According to Precision Business Insights (PBI), the latest report global edible insects market size was valued at USD 490.8 million in 2021 and growing at a CAGR of 19.8% during the forecast period 2022-28. Since edible insects are packed with nutrients including vital minerals and amino acids, they are eaten throughout the world. Some edible insects include wasps, ants, bees, termites, scale insects, roaches, flies, beetles, crickets, and grasshoppers. They are also utilized by the poultry and aquaculture industries. Various low-calorie and nutrient-rich food and beverage products are made by roasting and drying edible insects.
Manufacturers have started commercializing insect farming and protein extraction since insects are commonly available. Some of the readily accessible edible insects that are fueling demand for edible insects and their use in the edible insect industry are crickets, bamboo worms, bagworms, flies, earthworms, beetles, and wasps. The market for edible insects presents manufacturers with a tremendous chance to create a technology or piece of equipment that can assist in processing insects according to a standard protocol since there are no such protocols for processing insects. A cross-reaction, as well as sensitivity, may occur if an arthropod allergy sufferer consumes edible insects. In addition, constant contact with insects during farming or breeding may cause contact allergies in people, which is one of the biggest problems suppliers in the market for edible insects confront.
The Global Edible Insects Market on the basis of Product Type, the market is segregated into Whole Insect, Insect Powder, Insect Meal. Based on Insect Type, the market is divided into Beetles, Caterpillars, Grasshoppers, Bees, Wasps, Ants, Scale Insects, True Bugs and others. Based on Application, the market is fragmented into Human Consumption, Animal Feed and Cosmetics and Pharmaceutical.
Due to increased beer consumption and increasing disposable income in the region throughout the forecast period, the Asia-Pacific region continues to lead the edible insect’s market and will continue to do so throughout the forecast period. On the other hand, North America is anticipated to expand quickly as a result of the rising popularity of novel tastes and the region's expanding number of microbreweries with significant volumetric production.
The major players operating in the Edible Insects Market are AgriProtein Holdings Ltd. (South Africa), EnviroFlight LLC (US), Innovafeed (France), źnsect (France), Hexafly (Ireland), Protix (Netherlands)
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