Edible Insects Market Worth 1,181.6 Million USD by 2023

Wednesday, March 21, 2018 8:12 AM UTC

LONDON, March 21, 2018 -- According to this latest publication from Meticulous Research™, the global edible insects market is expected to be valued at USD 1,181.6 million by 2023, growing at a CAGR of 23.8% from 2018, mainly due to “growing population and decreasing food resources, increasing demand for protein rich food, high cost of animal protein, environmental sustainability with production and consumption of edible insects, high nutritional value of insects, and low risk of transmitting zoonotic disease.”

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The report also notes that, crickets commanded the largest of the global edible insects market in 2017, primarily attributed to “its high nutritional value, easy farming, easy processing and incorporation into various food recipes & products, and increasing demand for cricket-based products, such as protein powder, protein bars, and snacks, among others”.

Geographically, North America (U.S and Canada) is slated to register the highest growth during the forecast period, primarily due to “growing demand for environmental friendly high protein diets, aversion to highly processed foods, increasing demand for insect based foods, presence of large number of insect based food manufactures, and growing concerns about meat production”.

The key players operating in this market are KrecaEnto-Food BV, Thailand Unique, Entomo Farms, Haocheng Mealworm Inc., AgriProtein Holdings Ltd, JIMINI’S (ENTOMA LTD), EnormApS, Chapul Inc., Ynsect, Eat Grub Ltd., Bitty Foods, LLC, EAP GROUP - MICRONUTRIS, Edible Inc., Bugs Solutely, Crik Nutrition, Enviro Flight, LLC, Exo Inc., Entotech SAS, Deli Bugs Ltd., Hargol Food Tech, Aspire Food Group, and All Things Bugs, LLC.

Browse in-depth report on: https://www.meticulousresearch.com/product/edible-insects-market-forecast/

Scope

Insect Type