Edible Insects Market

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2. EDIBLE INSECTS MARKET ANALYSIS Edible Insects Market, By Product Type (As a Whole (Steam or Fried, Raw, BBQ), As an Ingredient (Drinks, Insect Confectionery, Snack and Backed Products, Others)), By Insect Type (Beetles, Caterpillars, Hymenoptera, Orthoptera, True Bugs, Others), and By Region (North America, Latin America, Asia Pacific, Europe, Middle East & Africa) - Size, Share, Outlook, and Opportunity Analysis, 2020 - 2027

3. Market Overview The global edible insects market is projected to surpass US$ 850 million by the end of 2027, in terms of revenue, growing at CAGR of 6.7% during the forecast period (2020 to 2027). Market Drivers Easy availability coupled with the increasing production of edible insects is expected to accelerate the market growth over the forecast period. Farming and harvesting of edible have significantly increased in the last few years due to rising awareness regarding the health benefits of the edible insects. This is projected to impact market growth positively over the forecast period

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5. Figure 1. Global Edible Insects Market, Revenue Share (%), By Region, 2019

6. Market Restraints & Market Opportunities • Human consumption of edible insects is limited to certain regions since it is considered as a taboo. This is expected to hinder the market growth of the edible insects. • Increasing demand for mixed insect’s packs that entails various edible insects is expected to augment the market growth of the edible insects. The mixed insect's packs usually contain mealworms, crickets, and cockroaches that are packed in deli cups and this is considered under ready-to-eat food products. Thus, the rising demand for mixed insect packs will favor market growth.

7. Figure 2. Global Edible Insects Market – Opportunity Analysis

8. Figure 3. Global Edible Insects Market, Revenue Share (%), By Insect Type, In 2019

9. Competitive Section • Key players are operating in the global edible insects market are Thailand Unique, Kreca, Nordic Insect Economy Ltd., Entomo Farms, Enviro Flight,LLC, Proti-Farm, Exo Inc., Entotech, Deli Bugs Ltd., and Eat Grub Ltd. • Few Recent Developments • Entomo Farms  • In October 2018, Entomo Farms that turns crickets into snacks has announced that it is planning to expand its business. The company is planning to increase its insects-based food catches business worldwide

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