Market Synopsis: Market Research Future (MRFR) asserts that the global Edible Insects Market is estimated to project a healthy CAGR during the forecast period (2017-2023) owing to the increasing consumer interest towards edible insects. Edible insects are referred to as insects which are safe for human consumption and are not harmful. They are rich in vitamin protein, and amino acid content and do not produce toxic gases like ammonia which is harmful to the environment. Insects such as edible bees, caterpillars, wasps, ants, scale insects, beetles, crickets and locusts, grasshoppers, and mealworm are used in the food industry.
Market Potential and Pitfalls: With the augmenting interest of the consumers towards edible insects in the food and feed sector due to the presence of essential minerals and amino acids, the market for edible insects is estimated to flourish during the appraisal period. Edible insects are rich in fiber, protein, vitamins, minerals, energy, and fatty acids, which offer a number of health benefits.On the contrary, the absence of regulatory laws and the limited availability of Edible Insects are some of the top barriers likely to vitiate the market growth during the assessment period.
Industry Updates: February 27, 2019: Gyeongsangnam-do Agricultural Research and Extension Services has recently announced that they have developed a low-cost food source in order to minimize the production cost of larvae of Protaetia brevitarsis seulensis. The company has started to enhance the competitiveness of farming the larvae by supplying low-cost food to the farmers.
Competitive Dashboard: The prominent players operating the Global Edible Insects Market are Nutribug Ltd. (U.K), Nordic Insect Economy Ltd. (Finland), Bugsolutely Ltd. (Thailand), Sarl (France), Thailand Unique (Thailand), Haocheng Mealworms Inc. (China), Chapul Inc. (U.S.), and Eap Group.
Segmental Analysis: The global Edible Insects Market has been segmented on the basis of type, application, and distribution channel.
By mode of type, the global edible insects market has been segmented into bees, caterpillars, beetles, ants, crickets, grasshoppers, and mealworm. Among these, the beetle’s type is predicted to occupy the major share as edible beetles are rich in protein and serve as a better alternative for beef and chicken.
By mode of application, the global edible insects market has been segmented into bakery, food & beverages, snacks, and feed. Edible insects are extensively used in savory snacks due to the presence of vitamins, high protein, zinc, potassium, calcium, and amino acid content.
By mode of distribution channel, the global edible insects market has been segmented into store-based and non-store based. Among these, the store-based distribution channel is predicted to dominate the global market due to its one-stop shopping convenience.
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Regional Insights: Geographically, the edible insects market span across regions namely, Europe, North America, Asia Pacific, and Rest-of-the-World (RoW).
food and beverages 