Edible Insects Market Size to Register USD 3.13 bn Growth | Technavio

Darling Ingredients Inc., Deli Bugs Ltd., and Enterra Corp. will emerge as major edible insects market participants during the forecast period

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Technavio

Dec 17, 2021, 08:30 ET

NEW YORK, Dec. 17, 2021 /PRNewswire/ -- The edible insects market is driven by factors such as the growing food shortage across the world. According to Food and Agricultural Organization (FAO), around 768 million people faced hunger in 2020. This figure was 118 million more than the previous year. The COVID-19 pandemic also impacted the food supply, which led to an increase in food shortages in 2020. Some of the major regions facing food shortages are APAC and Africa. Hence, to tackle the food shortages in various regions, alternative nutritional food sources such as edible insects are being promoted across the world. 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.

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

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The edible insects market is expected to grow by USD 3.13 billion from 2021 to 2026. The growth momentum of the market will accelerate at a CAGR of 29.55% during this period.

Emerging Opportunities with Key players

Darling Ingredients Inc. - The company offers edible insect products such as Envirobug, Envirooil, Enviromeal, EnviroFrass, and many more.
Deli Bugs Ltd. - The company offers edible insect products such as freeze-dried insects, insect powder, candy and snacks, and many more.
Enterra Corp. - The company offers a wide range of edible insect products such as EnterraGrubs, EnterraProtein, EnterraOil, and many more.
ENTOBEL HOLDING PTE. LTD. - The company offers a wide range of edible insect products such as H-Meal, H-Oil, H-Ferti.
Entomo Farms - The company offers edible insect products such as cricket powder, frozen crickets, and roasted crickets.

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Edible Insects Market 2022-2026: Segmentation

Application

Human Consumption
Animal Nutrition
Cosmetics And Pharmaceuticals

Geography

APAC
North America
Europe
MEA
South America

By application, the human consumption segment is expected to have significant market share growth during the forecast period. There are around 2,300 insect species fit for human consumption. Insects have been consumed for more than 7,000 years in many cultures. They are a good source of protein, fiber, good fats, and vital minerals. These factors make insects an exceptional food source.

By geography, the market is expected to be dominated by APAC. According to Technavio, the region will account for 45% of the market's growth during the forecast period. China, Thailand, and South Korea (Republic of Korea) are the key countries for the edible insects market in APAC. Market growth in APAC is expected to be faster than the growth of the market in other regions. The high food shortage and the tropical climate, which is suitable for edible insect rearing, will drive the growth of the edible insects market in APAC during the forecast period.

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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	USD 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
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 future consumer dynamics, market condition analysis for the forecast period
Customization purview	If our report has not included the data that you are looking for, you can reach out to our analysts and get segments customized.

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