Edible Insect Market

Edible Insect Market Outlook (2024 to 2034)

A recently updated study by proficient analysts at Fact.MR reveals that the global edible insect market is projected to reach a value of US$ 653.3 million in 2024. Worldwide revenue from the sales of edible insects has been forecasted to rise at a CAGR of 5.3% and reach US$ 1.09 billion by the end of 2034.

Accelerating demand for animal-based food and feed, owing to a larger population base, is pushing the sales of edible insects as a source of food. Growing requirements for edible insects are leading to the development of new technologies, which are utilized for harvesting insects more effectively. In addition to insect harvesting, several companies are also actively working on the storage of edible insects to keep them fresh for a longer duration.

Several insect species contain a substantial amount of lipids, vital proteins, and vitamins, which is contributing to their growing use in different foods, feeds, and drinks. The high nutritional profile of these insects is contributing to their increased consumption as a pivotal part of routine diets. Government bodies are also taking initiatives with rising environmental issues, which are creating greater prospects for manufacturers involved in sustainable insect farming. Increased adoption of wild harvesting, semi-domestication, and advanced farming techniques to produce edible insects will drive the market forward over the coming years.

People have become increasingly cautious about the adverse effects caused on human health because of greenhouse gas emissions. This is further leading to the rising preference for protein options with minimal environmental emission, which is a positive edible insect market trend.

• Global demand for dried edible insects is projected to accelerate at 5.4% CAGR and reach a market worth of US$ 881.4 million by 2034-end.
• Sales of edible insects in Canada are forecasted to rise at a CAGR of 5.8% from 2024 to 2034.
• East Asia is expected to account for 23.1% share of global market revenue by 2034.
• Demand for edible insects in South Korea is analyzed to accelerate at 6% CAGR from 2024 to 2034.

Report Attribute	Detail
Edible Insect Market Size (2024E)	US$ 653.3 Million
Forecasted Market Value (2034F)	US$ 1.09 Billion
Global Market Growth Rate (2024 to 2034)	5.3% CAGR
North America Market Share (2034F)	24.3%
Market Share of Beetles (2034F)	35.2%
Japan Market Growth Rate (2024 to 2034)	5.8% CAGR
Key Companies Profiled	Enviro Flight, LLC; Thailand Unique; Ynsect; Eat Grub Ltd.; Kreca Ento-Food BV; Deli Bugs Ltd.; ENTOTECH; Nordic Insect Economy Ltd.; Protix; Entomo Farms Ltd.; Proti-Farm; Aspire Food Group; Exo Protein.

What is Complementing Global Edible Insect Market Growth?

“Expanding Worldwide Trend of Leading Healthy Lifestyle”

Edible insects are consumed highly in several countries, such as China, Thailand, and others. These insects are also consumed as a part of street food in the abovementioned countries. An increased preference for edible insects is also stimulating companies to offer packed insects as a whole in raw, BBQ, and dried forms. Companies are also focusing on offering food-grade certified insects to increase their consumption. Several activities, such as insect harvesting need comparatively less investment. In addition, it is also considered a new way used by companies to provide insects with improved nutritional value.

“Commercial Benefits Associated with Insect Farming”

Several countries are focusing on imposing certain guidelines on increasing the consumption of edible insects, thereby stimulating their adoption as a vital part of food security. Edible insects are farmed and grown quickly in larger quantities in smaller areas. Furthermore, the accelerating demand for edible insects is because of the several benefits provided by them. Edible insects are manufactured with the adoption of semi-domestication, farming, and harvesting, even with minimal investments.

What Issues are Edible Insect Companies Working On?

“Regulatory Challenges Limiting Demand and Consumption of Edible Insects”

The safety and quality are vital for edible insects. Several edible insect manufacturers need to adhere to outlined principles as per set regulations. Individual food/feed business operators bear responsibilities for the safety of end products, thereby bearing some additional expenses on matching regulations, subsequently increasing the final cost of eatables.

“Concerns Related to Health Risks and Safety of Eating Insects”

Several individuals are consuming insects as a conventional food, but there is very little information about their negative impacts on the human body. However, increasing concerns related to food allergies are creating hesitation about edible insect consumption. For instance,

• As mentioned in a research article in Bioscience Horizons: The International Journal of Student Research in 2018, Thailand observed some people in the country are suffering from allergic reactions due to the consumption of edible insects, which is adversely impacting their demand growth.

What Opportunities Can New Companies Cash in On?

“Use of Advanced Technology Opening New Avenues for Startups”

Some advanced techniques are utilized by producers for edible insects for breeding purposes. Technologies, such as IoT and other emerging technologies are utilized by several new market players for streamlining the insect breeding process for the production of more effective and efficient food. The adoption of several cutting-edge technologies for creating insect-based products and insect breeding is increasing the profit share of startups.

• Protix is an insect farming company that joined forces with the Buhler group in March 2019 to improve its existing portfolio and gain access to several cutting-edge technologies, such as breeding techniques and the Internet of Things.

Country-wise Insights

According to the recently updated analysis by Fact.MR, a market research and competitive intelligence provider, North America is evaluated to hold 24.3% of the global edible insect market share by 2034-end. The rising consumer shift to alternative protein sources for fulfilling nutritional requirements for maintaining healthy functioning of the body is creating prospects for market players in the region. Increasing emphasis on diet optimization is also resulting in increased consumption of edible insects as high-protein options.

What is Pushing Consumption of Edible Insects in the United States?

“Government Initiatives Promoting Edible Insects as Excellent Protein Source”

Attribute	United States
Market Value (2024E)	US$ 69.5 Million
Growth Rate (2024 to 2034)	5.7% CAGR
Projected Value (2034F)	US$ 121.3 Million

The United States is projected to contribute 45.6% share of the North American market by the end of 2034. The government in the country is promoting insect consumption among more consumers owing to their high nutritional profile. These initiatives are further paving the way for the increased adoption of edible insects in the country.

Why is China Considered a Gold Mine for Edible Insect Manufacturers?

“Higher Acceptance Rate of Edible Insects for Their Nutritional Value”

Attribute	China
Market Value (2024E)	US$ 71.6 Million
Growth Rate (2024 to 2034)	5.3% CAGR
Projected Value (2034F)	US$ 120.1 Million

China is forecasted to occupy a share of 47.5% of East Asia by 2034. There is an increased acceptance of edible insects among a larger consumer base for their higher nutritional profile. More than 174 species, such as feed, medical, and edible are accessible to consumers, which is further contributing to the expanding edible insect market size in the country. Further, growing consumption of these insects as cultural or conventional meals in the country is exhibiting noteworthy growth.

How is Japan Offering Moneymaking Opportunities for Market Players?

“Accelerating Consumption of Functional Foods across the Country”

Attribute	Japan
Market Value (2024E)	US$ 42.3 Million
Growth Rate (2024 to 2034)	5.8% CAGR
Projected Value (2034F)	US$ 74.4 Million

Japan is approximated to account for 29.4% share of East Asia by the end of 2034. More people in Japan are consuming functional food products for their high nutritional value. An increasing demand for edible insects as protein supplements is creating prospects for market players in Japan.

Category-wise Insights

As mentioned in Fact.MR report, the growing consumption of beetles by more individuals is attributed to their high mineral, vitamins, proteins, and good fat profile. Compared to conventional livestock, such as poultry or cattle, they are promoted as one of the alternative sustainable protein sources.

Which Edible Insect is Most Widely Consumed?

“Increasing Preference for Dried Edible Insects for Low Carbohydrates and Rich Protein Profile”

Attribute	Dried Edible Insects
Segment Value (2024E)	US$ 521.3 Million
Growth Rate (2024 to 2034)	5.4% CAGR
Projected Value (2034F)	US$ 881.4 Million

Dried edible insects are analyzed to hold a share of 80.5% of the global market by 2034. Several people benefit from the consumption of dried edible insects as they are low in carbohydrates and rich in protein. In addition, certain essential minerals, such as zinc, iron, magnesium, and calcium are contained in these eatables, thereby contributing to rising popularity. Moreover, they are also rich sources of unsaturated fat, which is believed to be a healthier fat source than saturated fat.

Which Type of Edible Insects Have Garnered High Interest?

“Surging Consumption of Beetles for High Nutritional Profile”

Attribute	Beetles
Market Value (2024E)	US$ 229.3 Million
Growth Rate (2024 to 2034)	5.3% CAGR
Projected Value (2034F)	US$ 385.4 Million

Beetles are projected to possess 35.2% of the global market revenue share by the end of 2034. A wide variety of raw and cooked insects are consumed at a larger scale. Their rich profile of fiber, essential minerals, protein, and healthy fats is contributing to increased consumption. Among several available insect options, beetles and their larvae are consumed at a significant rate owing to the presence of high amounts of vitamins, minerals, and proteins same as meat and fish.

Competitive Landscape

Key players in the edible insect market are aiming for cutting-edge approaches and global expansion for insect breeding. They are involved in the introduction of flexible and competitive insect processing and production technologies and investing in extensive R&D activities for increasing the productivity and quality of edible insects.

For instance :

• Aspire Food Group is from Canada. In October 2021, the company announced the development of a new automated plant for cricket processing. This newly developed facility will help in the production of 9,000 metric tons of edible crickets for animal and human consumption.
• Ynsect is one of the prominent global market leaders offering natural insect proteins. In April 2021, the company acquired Protifarm, which led to the addition of two new mealworm species to its offerings. This will also help in increasing the production capacity of Ynsect.

Fact.MR provides detailed information about the price points of key companies in the edible insect market positioned across the world, sales growth, production capacity, and speculative technological expansion, in this recently updated market report.

Segmentation of Edible Insect Market Research

• By Insect Type :

  • Beetles
  • Caterpillars
  • True Bugs
  • Hymenoptera
  • Orthoptera

• By Product Type :

  • Dried
  • Fresh/Chilled

• By Region :

  • North America
  • Latin America
  • Western Europe
  • Eastern Europe
  • East Asia
  • South Asia & Pacific
  • MEA