Global Insect Snack Market Overview:
Insects Snacks as food or edible insects are insect species consumed by humans. More than 2,000 insect species are considered edible globally. However, a much smaller number is discussed for industrialized mass production and partially approved for use in food locally. Insects are commonly eaten whole or ground up and used for cooking and in processed foods such as burger patties, pasta, or snacks. Insect snacks are the best alternative source of protein and nutrients which drives the market growth.
Attributes | Details |
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Study Period | 2018-2028 |
Base Year | 2022 |
Forecast Period | 2023-2028 |
Historical Period | 2018-2022 |
Unit | Value (USD Million) |
Customization Scope | Avail customization with purchase of this report. Add or modify country, region & or narrow down segments in the final scope subject to feasibility |
Market Growth Drivers:
Highly Rich in Protein and Nutrient., High-Feed-Conversion Efficiencies., Require Less Land And Water Than Other Species Of Livestock. and Insects Emit Fewer Greenhouse Gases And Less Ammonia.
Challenges:
Zoonotic/ Foodborne Diseases Vulnerable To Chemical Contamination.
Restraints:
Food Safety Concerns and Considerations., Biological Hazards and Bacteria Cause Foodborne Diseases. and Spread of Pathogenic Microorganisms and Foodborne Pathogens.
Opportunities:
Develop Sustainable Insect-Based Technologies.
Competitive Landscape:
Insect Snacks Market is a fragmented market due to the presence of various players. The players are focusing on developing and originating innovative flavors to enhance the taste of snacks. The companies are also planning strategic activities such as product launches, collaborations, mergers, and acquisitions to sustain in the market and maintain their competitive edge.
Some of the key players profiled in the report are Ynsect (SAS) (France), Protix B.V. (Netherlands), Entomo Farms (Canada), Aspire Food Group (U.S.), All Things Bugs LLC (U.S.), Global Bugs Asia Co., Ltd (Thailand), JR Unique Foods Ltd (Thailand), InnovaFeed (France), EnviroFlight, LLC (U.S.) and Nutrition Technologies Group (Singapore). Considering Market by End Use, the sub-segment i.e. Human Consumption will boost the Insect Snack market.
Latest Market Insights:
On September 2022, Aaron T. Dossey, Ph.D., President, founder, and owner of All Things Bugs, LLC, received a patent from the US Patent and Trademark Office that pertains to making insect products for food in a way that is more cost-effective and results in a higher quality product, according to the patent., and On June 2022, the aquaculture industry is focused on its role in ocean stewardship and addressing the sustainability of food systems. Cargill and InnovaFeed are committed to actions that identify and grow planet-friendly ingredients, find new ways to reuse by-products, and develop fish nutrition that promotes and enhances the health of farmed fish.
On March 2023, Nutrition Technologies hails the UK and EU's decision to green light Malaysian insect products as a third-party importer of insect-based ingredients, allowing insect protein manufacturer Nutrition Technologies to use its insect meal as a feed ingredient for aqua feed, livestock, and pet food.
What Can be Explored with the Insect Snack Market Study
Gain Market Understanding
Identify Growth Opportunities
Analyze and Measure the Global Insect Snack Market by Identifying Investment across various Industry Verticals
Understand the Trends that will drive Future Changes in Insect Snack
Understand the Competitive Scenario
- Track Right Markets
- Identify the Right Verticals
Research Methodology:
The top-down and bottom-up approaches are used to estimate and validate the size of the Global Insect Snack market.
In order to reach an exhaustive list of functional and relevant players various industry classification standards are closely followed such as NAICS, ICB, SIC to penetrate deep in important geographies by players and a thorough validation test is conducted to reach most relevant players for survey in Insect Snack market.
In order to make priority list sorting is done based on revenue generated based on latest reporting with the help of paid databases such as Factiva, Bloomberg etc.
Finally the questionnaire is set and specifically designed to address all the necessities for primary data collection after getting prior appointment.
This helps us to gather the data related to players revenue, operating cycle and expense, profit along with product or service growth etc.
Almost 70-80% of data is collected through primary medium and further validation is done through various secondary sources that includes Regulators, World Bank, Association, Company Website, SEC filings, OTC BB, USPTO, EPO, Annual reports, press releases etc.