Edible Insects Market by Application and Geography - Forecast and Analysis 2022-2026

  • Published: Dec 2021
  • Pages: 120
  • SKU: IRTNTR71637
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The edible insects market share is expected to increase by USD 3.13 billion from 2021 to 2026, and the market’s growth momentum will accelerate at a CAGR of 29.55%.

This edible insects market research report provides valuable insights on the post COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers edible insects market segmentation by application (human consumption, animal nutrition, and cosmetics and pharmaceuticals) and geography (APAC, North America, Europe, MEA, and South America). The edible insects market report also offers information on several market vendors, including Darling Ingredients Inc., Deli Bugs Ltd., Enterra Corp., ENTOBEL HOLDING PTE. LTD., Entomo Farms, Global Bugs Asia Co. Ltd., Innovafeed, Insect Technology Group Holdings UK Ltd., Kreca Ento-Food BV, and Ynsect SAS among others.

What will the Edible Insects Market Size be During the Forecast Period?

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Edible Insects Market: Key Drivers and Trends

The growing food shortage across the globe is notably driving the edible insects market growth, although factors such as low acceptance for edible insects as a food source may impede the market growth. Our research analysts have studied the historical data and deduced the key market drivers and the COVID-19 pandemic impact on the edible insects industry. The holistic analysis of the drivers will help in deducing end goals and refining marketing strategies to gain a competitive edge.

Key Edible Insects Market Driver

One of the key factors driving growth in the edible insects market is the growing food shortage across the globe. According to Food and Agricultural Organization (FAO), there were around 768 million people who suffered from hunger in 2020, which was 118 million more than the previous year. The COVID-19 pandemic also impacted the food supply, which led to an increase in the number of people facing food shortages in 2020. Major regions suffering from food shortages are APAC and Africa. To tackle the food shortages in various regions, alternative nutritional food sources such as edible insects are being promoted across the globe. The edible insects can be easily reared in tropical regions such as Africa without the need for excessive land use. Hence, the demand for edible insects is expected to grow to meet food shortages during the forecast period.

Key Edible Insects Market Challenge

The low acceptance of edible insects as a food source will be a major challenge for the edible insects market during the forecast period. Edible insects are considered unfit and unacceptable food sources in many cultures. This creates a barrier to the acceptance of edible insects in the food market. Moreover, edible insects are not considered hygienic, and people may only consume them when there is an extreme food shortage. The COVID-19 pandemic in 2020 was believed to be started by the consumption of bats, which has strengthened people’s believes in the unhygienic nature of edible insects. Hence, the market is expected to decline.

This edible insects market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.

Who are the Major Edible Insects Market Vendors?

The report analyzes the market’s competitive landscape and offers information on several market vendors, including:

 

  • Darling Ingredients Inc.
  • Deli Bugs Ltd.
  • Enterra Corp.
  • ENTOBEL HOLDING PTE. LTD.
  • Entomo Farms
  • Global Bugs Asia Co. Ltd.
  • Innovafeed
  • Insect Technology Group Holdings UK Ltd.
  • Kreca Ento-Food BV
  • Ynsect SAS

 

This statistical study of the edible insects market encompasses successful business strategies deployed by the key vendors. The edible insects market is fragmented and the vendors are deploying various organic and inorganic growth strategies to compete in the market.

To make the most of the opportunities and recover from post COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments, while maintaining their positions in the slow-growing segments.

The edible insects market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the production, sustainability, and prospects of the leading companies. 

Which are the Key Regions for Edible Insects Market?

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45% of the market’s growth will originate from APAC during the forecast period. China, Thailand, and South Korea (Republic of Korea) are the key markets for edible insects in APAC. Market growth in APAC will be faster than the growth of the market in other regions.

The high food shortages and the tropical climate, which is suitable for edible insect rearing will facilitate the edible insects market growth in APAC over the forecast period. This market research report entails detailed information on the competitive intelligence, marketing gaps, and regional opportunities in store for vendors, which will assist in creating efficient business plans.

What are the Revenue-generating Application Segments in the Edible Insects Market?

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The edible insects market share growth by the human consumption segment will be significant during the forecast period. There are around 2,300 insect species fit for human consumption. Insects are being consumed for more than 7,000 years in many cultures. Insects have a high source of protein, fiber, good fats, and vital minerals, making them an exceptional food source.

This report provides an accurate prediction of the contribution of all the segments to the growth of the edible insects market size and actionable market insights on post COVID-19 impact on each segment.

 

Edible Insects Market Scope

Report Coverage

Details

Page number

120

Base year

2021

Forecast period

2022-2026

Growth momentum & CAGR

Accelerate at a CAGR of 29.55%

Market growth 2022-2026

$ 3.13 billion

Market structure

Fragmented

YoY growth (%)

28.87

Regional analysis

APAC, North America, Europe, MEA, and South America

Performing market contribution

APAC at 45%

Key consumer countries

US, China, Thailand, UK, and South Korea (Republic of Korea)

Competitive landscape

Leading companies, Competitive strategies, Consumer engagement scope

Key companies profiled

Darling Ingredients Inc., Deli Bugs Ltd., Enterra Corp., ENTOBEL HOLDING PTE. LTD., Entomo Farms, Global Bugs Asia Co. Ltd., Innovafeed, Insect Technology Group Holdings UK Ltd., Kreca Ento-Food BV, and Ynsect SAS

Market dynamics

Parent market analysis, Market growth inducers and obstacles, Fast-growing and slow-growing segment analysis, COVID-19 impact and recovery analysis and future consumer dynamics, Market condition analysis for the forecast period

Customization purview

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What are the Key Data Covered in this Edible Insects Market Report?

  • CAGR of the market during the forecast period 2022-2026
  • Detailed information on factors that will drive edible insects market growth during the next five years
  • Precise estimation of the edible insects market size and its contribution to the parent market
  • Accurate predictions on upcoming trends and changes in consumer behavior
  • The growth of the edible insects industry across APAC, North America, Europe, MEA, and South America
  • A thorough analysis of the market’s competitive landscape and detailed information on vendors
  • Comprehensive details of factors that will challenge the growth of edible insects market vendors

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Executive Summary

    Market Landscape

    • Market ecosystem
    • Value chain analysis

    Market Sizing

    • Market definition
    • Market segment analysis
    • Market size 2021
    • Market outlook: Forecast for 2021 - 2026

    Five Forces Analysis

    • Five forces summary
    • Bargaining power of buyers
    • Bargaining power of suppliers
    • Threat of new entrants
    • Threat of substitutes
    • Threat of rivalry
    • Market condition

    Market Segmentation by Application

    • Market segments
    • Comparison by Application
    • Human consumption - Market size and forecast 2021-2026
    • Animal nutrition - Market size and forecast 2021-2026
    • Cosmetics and pharmaceuticals - Market size and forecast 2021-2026
    • Market opportunity by Application

    Customer landscape

      Geographic Landscape

      • Geographic segmentation
      • Geographic comparison
      • APAC - Market size and forecast 2021-2026
      • North America - Market size and forecast 2021-2026
      • Europe - Market size and forecast 2021-2026
      • MEA - Market size and forecast 2021-2026
      • South America - Market size and forecast 2021-2026
      • Key leading countries
      • Market opportunity by geography
      • Market drivers
      • Market challenges
      • Market trends

      Vendor Landscape

      • Vendor landscape
      • Landscape disruption

      Vendor Analysis

      • Vendors covered
      • Market positioning of vendors
      • Darling Ingredients Inc.
      • Deli Bugs Ltd.
      • Enterra Corp.
      • ENTOBEL HOLDING PTE. LTD.
      • Entomo Farms
      • Global Bugs Asia Co. Ltd.
      • Innovafeed
      • Insect Technology Group Holdings UK Ltd.
      • Kreca Ento-Food BV
      • Ynsect SAS

      Appendix

      • Scope of the report
      • Currency conversion rates for US$
      • Research methodology
      • List of abbreviations

      Research Framework

      Technavio presents a detailed picture of the market by way of study, synthesis, and summation of data from multiple sources. The analysts have presented the various facets of the market with a particular focus on identifying the key industry influencers. The data thus presented is comprehensive, reliable, and the result of extensive research, both primary and secondary.

      TechnavioINFORMATION SOURCES

      Primary sources

      • Manufacturers and suppliers
      • Channel partners
      • Industry experts
      • Strategic decision makers

      Secondary sources

      • Industry journals and periodicals
      • Government data
      • Financial reports of key industry players
      • Historical data
      • Press releases
      Technavio

      TechnavioDATA ANALYSIS

      Data Synthesis

      • Collation of data
      • Estimation of key figures
      • Analysis of derived insights

      Data Validation

      • Triangulation with data models
      • Reference against proprietary databases
      • Corroboration with industry experts
      Technavio

      TechnavioREPORT WRITING

      Qualitative

      • Market drivers
      • Market challenges
      • Market trends
      • Five forces analysis

      Quantitative

      • Market size and forecast
      • Market segmentation
      • Geographical insights
      • Competitive landscape
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      The edible insects market growth will increase by $3131.21 million during 2021-2026.
      The edible insects market is expected to grow at a CAGR of 29.55% during 2021-2026.
      Technavio has segmented the edible insects market by application (Human consumption, Animal nutrition, and Cosmetics and pharmaceuticals) and geographic (APAC, North America, Europe, MEA, and South America).
      Darling Ingredients Inc., Deli Bugs Ltd., Enterra Corp., ENTOBEL HOLDING PTE. LTD., Entomo Farms, Global Bugs Asia Co. Ltd., Innovafeed, Insect Technology Group Holdings UK Ltd., Kreca Ento-Food BV, Ynsect SAS are a few of the key vendors in the edible insects market.
      APAC will register the highest growth rate of 44.80% among the other regions. Therefore, the edible insects market in APAC is expected to garner significant business opportunities for the vendors during the forecast period.
      • US
      • China
      • Thailand
      • UK
      • South Korea (Republic of Korea)
      The key factors driving the edible insects market growth are:
      • Growing food shortage across the globe
      The edible insects market vendors should focus on grabbing business opportunities from the human consumption segment as it accounted for the largest market share in the base year.
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