A recent report issued by Reports & Insights titled “Edible Insects Market: Opportunity Analysis and Future Assessment 2022-2030” outlines the market size, potential and deep understanding of the statistics geared towards the development of the respective market in an absolute meticulous and thorough manner. The base year considered for the study is 2021, and the market size is projected from 2022-2030. To make it more intriguing, the report further mentions extensive know-how of the market, conceptual framework, and prevailing trends of the market along with the precise textual and graphical representation over the forecast period 2022-2030, developed by the acknowledged market expertise using verified research methodologies and proven analytical approaches.
The edible insects market is estimated to reach at a value of US$ 911.7 Mn by the end of 2022 and expected to reach at a value of US$ 3,430.1 Mn by 2030 with a significant CAGR of 18.1%.
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Edible Insects Introduction
Insects in the form of food or edible insects are primarily class of insects served as human foodstuff. The edible insects are used in both ways, for instance, as a whole or in the form of ingredient in processed food items such as pasta, patties, burgers or other snacks.
Edible insects are by and large collected from the wild, in certain instances via semi-cultivation, which is the approach of amending natural habitats to improve the quantity and/or quality of gathered insects.
Edible Insects Market Dynamics
Insects are habitually believed to be a nuisance or matter of inconvenience to the humankind and are considered useful for mere pests for animals and crops. Despite that, this is far off the mark.
Insects allow food at decreased environmental cost, as well as it bestow categorically to means of subsistence, and ultimately represent a crucial role in nature. On top of that, it is universally acknowledged that the world will be hosting 9 billion people by the year 2050. To conform this count, the ongoing food production surely needs to nearly double. In the future, there is a sheer need of re-evaluation of how and what we produce and what we eat.
The food wastage needs to be reduced and inefficiencies should necessarily be rectified. Such factors are playing a major role in driving the idea of edible insects across the world, owing to which the global edible insects market is projected to rise substantially in the future years.
In addition to that, the newer alternatives to explore and rising degree of health consciousness among the population is further positive fueling the growth in the demand of edible insects in the market, as the edible insects are considered rich in protein and beneficial for overall well-being of humans.
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Edible Insects Market Segmentation
The global edible insects market is segmented on the basis of insect type, product type and regions. On the basis of insect type, the edible insects market is segmented into beetles, caterpillars, hymenoptera, orthoptera, true bugs, orthoptera and others. On the basis of product type, the market is categorized into as a whole or as an ingredient. Further, as a whole segment of the edible insects market is bifurcated into steam or fried, raw or BBQ. Furthermore, as an ingredient segment is divided into drinks, insect confectionery, snacks and baked products, and others.
The research report classifies the global edible insects market based on insect type, product type and regions.
By Insect Type
- Beetles
- Caterpillars
- Hymenoptera
- Orthoptera
- Others
By Product Type
- As a whole
- Steam or fried
- Raw
- BBQ
- An an ingredient
- Drinks
- Insect Confectionery
- Snacks and baked products
- Others
By Region
- North America
- Latin America
- Africa
- Europe
- Asia Pacific
- Middle East
Edible Insects Market Key Players
The global edible insects market is dominated by Thailand Unique, Kreca Ento-Food BV, Nordic Insect Economy Ltd., Entomo Farms Ltd., Enviro Flight, LLC, Proti-Farm, Exo Inc., ENTOTECH, Deli Bugs Ltd., and Eat Grub Ltd., among others.
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