Top Facts You Didn’t Know About Edible Insects market & Impact of COVID-19Posted by Mrudula Karmarkar on June 20th, 2022 The global edible insects market size is expected to reach 1.4 BILLION 1.4 Billion by 2025, according to a new report by Grand View Research, Inc., expanding at a CAGR of 19.7% over the forecast period. Growing consumer awareness regarding health due to unhealthy food consumption and shifting trend towards protein-rich diets with the convenience of ready-to-eat meals are expected to drive the market in the coming years. Increasing awareness about the health benefits associated with the product such as lowering obesity and calories and high nutritional value is expected to propel the market growth. In many countries such as South Africa, the product is used as a medicine to cure malnutrition as they are easy to digest. This is also one of the prominent factors anticipated to drive the market in the coming years. Globally, beetles are the most preferred insects for consumption and they accounted for more than 30.0% share of the overall revenue in 2018. Beetles find their role in biodegradation as their larvae clean up the dead plants by breaking them into organic matter, thereby driving the segment in the forecast period. Cricket is anticipated to expand at the fastest CAGR of 20.9% in the forecast period. High protein content and easy farming procedure are the prominent factors for the growth of the segment. Insect powder is the most preferred way for consumption and it accounted for more than 40.0% share of the overall revenue in 2018. Easy availability, low cost, and wide application of the product are the prominent factors driving the segment. They are easy to store and last longer as compared to protein bars. Protein bars require a certain temperature to remain fresh and they come with immediate consumption or 2-3 months of expiry but powder form can be kept at room temperature and can last long. Download Free Sample Report @ https://www.grandviewresearch.com/industry-analysis/edible-insects-market/request/rs1 North America is the leading contributor to the market growth and it accounted for more than 25.0% share in 2018. Growing demand for high protein foods and reduction in the consumption of processed food are the key driving factors in the region. Europe is the fastest growing region and is anticipated to expand at a CAGR of 21.5% in the forecast period. Increasing farming of the invertebrates and awareness among the consumers about their health benefits are driving the edible insects market in the region. Edible Insects Market Report Highlights
Increasing farming of insects due to minimum investment, along with a decrease in seafood due to restrictions imposed by many countries on fishing, is expected to propel the demand for the product. Demand for these invertebrates is increasing due to their low cost, high nutritional benefits, and requirement of minimal cost for farming, thus impacting the market growth positively. Bugsy Bros, Beetle Jelly, Bugs in Mugs, Haocheng, Crickester, Insecteo, Bug foundation, Eddiebug, Gran Mitla, and Insectables are some of the prominent players in the market. The market presents moderate to low entry barriers due to lack of proper regulations and low production costs. The market is further driven by research and development by the market players. For instance, manufacturing companies such as Bitty Foods and Grilo have been focusing on R&D to serve the consumers with more suitable options, which will positively impact the industry growth over the forecast period. Grand View Research has segmented the global edible insects market on the basis of product, application: Edible Insects Product Outlook (Revenue, 1.4 BILLION Billion, 2015 - 2025)
Edible Insects Application Outlook (Revenue, 1.4 BILLION Billion, 2015 - 2025)
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