About Edible Insects
Edible insects are insects including beetles, dragonflies, crickets, stink bugs, grasshoppers, locusts, grubs, bee comb, and honey were utilized as food and considered to the highly important role in the diet of the different ethnic groups. According to the U.N. Food and Agriculture Organization, nearly 2 billion people eat bugs across the globe. Though, most of the Western part regards eating insects with unwillingness.
Attributes | Details |
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Study Period | 2018-2030 |
Base Year | 2023 |
Unit | Value (USD Million) |
The global Edible Insects market is a highly fragmented market and consists of some major players. In terms of market share, some of the key manufacturers presently dominate the global market. These market players are focusing on strategic collaborative initiatives to enhance their market share and improve their profitability. Analyst at AMA Research estimates that United States Vendors will contribute the maximum growth to Global Edible Insects market throughout the forecasted period. Established and emerging Vendors should take a closer view at their existing organizations and reinvent traditional business and operating models to adapt to the future.
Thailand Unique (Thailand), Kreca Ento-Food BV (Netherlands), Entomo Farms (Canada), Enviro Flight (United States), Proti-Farm (Netherlands), EXO (United States), ENTOTECH (United Kingdom), Deli Bugs (United Kingdom), Eat Grub (United Kingdom) and Bitty (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research coverage are Chapul (United States), Chirps Chips (United States) and Cricket Flours LLC (United States).
Segmentation Overview
AMA Research has segmented the market of Global Edible Insects market by Type (Caterpillar, Orthoptera, Beetles, True Bugs and Others), Application (Powder, Protein Bars and Others) and Region.
On the basis of geography, the market of Edible Insects has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Taiwan, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). If we see Market by Distribution Channels, the sub-segment i.e. Hypermarkets/Supermarkets will boost the Edible Insects market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth. If we see Market by Packaging, the sub-segment i.e. Canned will boost the Edible Insects market. Additionally, the rising demand from SMEs and various industry verticals gives enough cushion to market growth.
Influencing Trend:
Technology Development in Packaging Techniques
Market Growth Drivers:
Growing Demand for the Animal-Based Products
Challenges:
Increase Concern Regarding Human Health and The Rising Number of Vegan People
Restraints:
Lack of Storage Infrastructure
Opportunities:
Development in Technology for Harvesting Insect
In Dec 2020, one Swedish startup known as Tebrito announced that they had raised around USD 966,305 for the enhancement of their operation. Through this initiative, the company is aiming to gain a major market share in the market.
Key Target Audience
Venture Capitalists and Private Equity Firms, New Entrants/Investors, Analysts and Strategic Business Planners, Edible Insects Manufacturers, Suppliers, and Distributors, Raw Material Suppliers, Government Regulatory and Research Organizations and End-Use Industries
About Approach
To evaluate and validate the market size various sources including primary and secondary analysis is utilized. AMA Research follows regulatory standards such as NAICS/SIC/ICB/TRCB, to have a better understanding of the market. The market study is conducted on basis of more than 200 companies dealing in the market regional as well as global areas with the purpose to understand the companies positioning regarding the market value, volume, and their market share for regional as well as global.
Further to bring relevance specific to any niche market we set and apply a number of criteria like Geographic Footprints, Regional Segments of Revenue, Operational Centres, etc. The next step is to finalize a team (In-House + Data Agencies) who then starts collecting C & D level executives and profiles, Industry experts, Opinion leaders, etc., and work towards appointment generation.
The primary research is performed by taking the interviews of executives of various companies dealing in the market as well as using the survey reports, research institute, and latest research reports. Meanwhile, the analyst team keeps preparing a set of questionnaires, and after getting the appointee list; the target audience is then tapped and segregated with various mediums and channels that are feasible for making connections that including email communication, telephonic, skype, LinkedIn Group & InMail, Community Forums, Community Forums, open Survey, SurveyMonkey, etc.