Global Edible Insects Market to Rise

24 Nov 2024

According to the Econ Research report, “Global Edible Insects Market – Industry Share, Size, Trends, Competition Forecast & Opportunities, 2033”, the Global Edible Insects Market stood at USD 2.16 billion in 2024 and is projected to exhibit robust growth in the forecast period, with a CAGR of 21.04% through 2032. The edible insects market covers the production, processing, and sales of various species of insects for consumption by humans. There is an available range of products containing crickets, mealworms, grasshoppers, beetles, and others in the form of powders, whole insects, and as ingredients in snacks and protein bars.

Edible insects, with the desirable nutritional benefits, contribution towards reduction of environmental impact, and their potential to be sustainable food sources, has been the driving factor in the edible insects market. The world is now embracing edible insects as a viable and eco-friendly alternative to traditional protein sources that have led to fast growth in the edible insects market.

Key Developments Driving Growth in the Edible Insects Market

In January 2023, Ynsect further deepened its global footprint with the opening of the Ynfarm, in world-class insect farming. This is a strategic development that bridges rising demand for insect-based products with efficient supply to customers. Ynfarm represents an important move in the effort of Ynsect to meet the world's needs for protein through innovative and sustainable food solutions.

In addition, on 10 October 2023, a "Launch of the 'Edible Insects: Food for the Future' cookbook" was conducted at Zimbabwe's Chinhoyi University of Technology, which captured some of that culinary diversity by edible insects. This initiative underscores the increasing acceptance and integration of diets based on insects into the existing cultural cuisines, mainly in Africa, where edible insects have been part of traditional diets for centuries.

Governments and private organizations have also created an environmentally friendly environment for its support in the growth of the market as they increase subventions for insect rearing and tax incentives for companies investing in sustainable diets. The regulation bodies have set high food safety standards to ensure that products of edible insects adhere to high-quality and safety standards. All these measures have boosted consumer confidence and spurred uptake of insect-based foods across the globe.

Sustainability and Nutritional Benefits Propel Market Expansion

Edible insects are experiencing an impressive rise in demand as it is in alignment with the principles of global sustainability goals and increasing demands to reduce the environmental impacts of traditional livestock farming. Edible insects use significantly less land, water, and feed compared to conventional livestock farming; thus, edible insects emerge as one of the environmentally friendly protein sources.

Besides that, insects are excellent sources of essential nutrients, which include protein, vitamins, and minerals, and therefore their consumption is the most nutritious supplement to human diets. Due to the increasing consumer demand for clean and sustainable products that focus on health, over the years, insect-based products such as protein bars, snacks, and powders have elicited a high demand. Companies like Aspire Food Group and Ynsect have further capitalized on this trend by providing innovative products in response to shifting dietary needs.

With such nutritional and environmental benefits attributed to them, edible insects are now recently being integrated into mainstream diets. Such examples include high-protein cricket-based snacks developed by Aspire Food Group or ingredients derived from mealworm by Ynsect that could be sustainable and versatile in nature. It is a reflection of the global push toward sustainable food systems and is probably a valid vector for change within the food industry.

Regulatory Support and Corporate Investments Boost Market Potential

Favorable regulations and corporate investments in the area of advanced food solutions are also supporting the edible insects market. Governments worldwide are progressively discovering edible insects as one of the promising interventions that can help break such barriers and improve food security. For instance, the Food and Agriculture Organization established the Insect Protein Initiative to make sure that foods from insects are safe, sustainable, and in accordance with international standards.

Evaluations of insect farms for both environmental standards of compliance and nutritional and food safety standards also fall into this category. The approach will not only be contributory to increasing transparency within the edible insects market but also enhance consumer protection and fair practice standards. By producing higher production standards, the FAO initiative has helped build consumer confidence and market growth.

Corporate investments in research and development have also been the impetus that has catapulted the edible insects sector forward. Companies are coming up with innovative ways of including insect-based ingredients into a vast array of food stuffs: fast snacks and drinks, to gourmet meals. All these have resulted in the development of various appetizing products meeting the taste and preference of contemporary consumers.

Meeting the Demand for Alternative Protein Sources

The global population will grow to 9.7 billion by 2050 and, with traditional food systems facing significant pressures, edible insects can constitute an attractive, nutrient-rich alternative to such conventional protein sources, thereby effectively contributing toward solutions related to both food security and environmental sustainability. Unlike livestock farming, which generates minimal greenhouse gas emissions, insect farming requires much less land and water.

This makes edible insects one of the most appealing options available to environmentally conscious consumers who might want to curb their carbon footprint. Besides, the high protein content and rich profile of nutrients present in edible insects make it an ideal choice for those looking at a healthy and balanced diet.

This is likely to propel further consumer demand for insect-based products in the coming days. The trend has already been collected as food producers are responding in the wake of their aim to match their sustainability goals with the creation of green products that save natural resources and pave the way for long-term economic growth.

Global Trends and Regional Insights

The edible insects market gains momentum in various regions, and each market will have unique drivers of growth and consumer preferences. Due to strict sustainability regulations and rising eco-friendly diets, Europe acts as a hub in the global market. Protix and Ynsect are pioneers in introducing innovative products made from insects, targeting the health-conscious and environmentally sensitive consumer in Europe.

Asian habits, along with the gradually increasing awareness of the health benefits derived from edible insects, drive the region. Traditional practices, such as using insects as supplementary ingredients, have already been in the system of those countries, including Thailand and Vietnam, for years. Such cultural acceptance paved the way for the growth of the modern insect-based food product market.

Meanwhile, consumer trends in North America are more driven by sustainable initiatives and alternative protein sources. More companies and startups are now entering the U.S. and Canadian edible insects market offering a wide range of these products as the consumer tastes evolve.

The Road Ahead: Challenges and Opportunities

The growth trajectory for the edible insects market is promising, owing to challenging cultural resistance and requirements for more education for consumers. In some regions, such consumption is as acceptable as in other places, but it remains unknown and unappealing for many Western markets. Overcoming this cultural resistance will require specific marketing campaigns and the development of appealing and accessible insect-based products.

Related issues include production scalability and supply chain efficiency in the industry. As companies look to advance farming technologies and infrastructure to meet market needs that are on the rise every day, edible insects are becoming increasingly sought after.

However, the threats edible insects pose are much fewer than the opportunities for development in this market. In line with the sustainable goals of the world, and being nutritional as well as versatile, edible insects promise to be a huge player in food production in the near future. A decisive and long lasting change in the scenario of global food will be led by the edible insects industry if innovation is welcomed and consumer trust is obtained.