Edible Insects Market Driven By ncreasing sports & dietary supplements consumption by sportspersons & athletes owing to presence of protein, vitamins, and amino acids
Ocean View, DE -- (SBWIRE) -- 04/10/2020 -- Insects in general have high protein content as well as exceptional product efficiency as compared to other conventional food groups. The most commonly eaten insects are bees, ants, locusts, beetles, grasshoppers, and caterpillars. In places like Nigeria, Zimbabwe, and Zambia, edibles insects are most commonly available in open markets, and school cafeterias, thereby forming a profitable business. Up to 50% of dietary protein is obtained from insects, and these insects have a higher market value than other protein sources.
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Company Profiles
1. Ÿnsect
2. Micronutris
3. AgriProtein
4. Entomo Farms
5. Protifarm
6. Bugsolutely
7. EnviroFlight, LLC
8. Exo Protein
9. Chapul
10. Thirty Six Foods Nigeria Ltd
11. Gathr Foods
12. Flukers Cricket Farm Inc
13. Insectescomestibles.fr (Entotech SAS)
14. Crowbar Protein Company
15. Edible, Inc. A Daniel J. Edelman Company
16. Bugeater Foods
17. Crik Nutrition
18. NUTRIBUG LTD
19. Crickers
20. BenSBugS
21. ECOBARS Pty Ltd
22. Thailand Unique
Rapid penetration of bee extracts is manufacturing high protein enriched honey and changing dietary needs for low calorie products is further boosting the bees, ants, and wasps segment share.
The other product segment includes larva, house fly, and edible spiders. Share of other segment was 4% in 2019 and is further expected to register continuous growth during the analysis timeframe. Edible spiders are prepared as fried snacks in Cambodia, sold in restaurants as well as local markets.
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Insect protein gummies are also sold specifically for kids, where insects are grounded up before being mixed into a liquid mixture of fruit flavors, gelatin, corn syrup, sugar, and food coloring. The finished product resembles the insect that they contain.
From a regional frame of reference, the Middle East & Africa edible insects market is set to witness gains owing to increasing cases of livestock diseases along with rapid adoption of insect powders in snacks. People across Africa have been eating insects since a long time, since insects are a healthier alternative to red meat, and could contain up to three times more protein than chicken or beef.
Rise in consumption of insects has resulted in increase of sustainable food due to low environmental effect. Sustainable foods are safe and healthy, inexpensive, nutritious and easily available for consumption. Insects have great nutritional value which includes fatty acids, protein, dietary energy, vitamins, minerals and fibres. Intake of minerals increases resistance power of the body against diseases. Further, eatable insects are source of oils & fats rich in polyunsaturated fatty acids. As per reports of FAO (Food & Agricultural Organization) of United Nations (UN), insects emit low proportion of greenhouse gases and can be consumed as sustainable diet. All these aspects are predicted to drive the industry growth during forecast timeframe.
Bug consumption has led to rise in demand due to reasonable price of raw materials, transportation and deployment. Low raw material price can result in production increase and directly affect edible insect market price trend. Capital investment by firms to increase their product portfolio can drive the industry demand. Insects can be hazardous if not harvested properly. Limited guidelines and rules for edible insects rearing can hinder the industry expansion.
APAC was the biggest region which produced more than $10 million revenue for 2015. It was led by Thailand and China edible insects market. In Thailand, more than 201 insects are consumed while in China produces raw silk as sericulture is originated there. Both these countries sell both fresh and cooked eatable insects in local as well as wholesale markets.
Europe edible insects market share, dominated by France, UK and Holland is predicted to experience high rate of expansion during forecast timeframe. Most of the European Union nations consume or intake mealworms and crickets in their pet or regular diet.
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Latin America, dominated by Brazil, is predicted to expand substantially in future. Brazil is predicted to register more than 42.4% of CAGR and surpass $55 million mark by end of forecast timeframe.
Key industry participants profiled in the report include Chapul Incorporation,Bugsolutely, Insectitos, Bodhi, Exo Protein, Gathr Foods, Six Foods,ECOBARS, Edible Incorporation,Crik Nutrition, Bitty Foods, EnviroFlight, Micronutris, HaoCheng Mealworm Incorporation, Thailand Unique, Proti-Farm, GetSharp, Kreca, Cricket Flours, Entomo Farms, LaViewEye, Nutribug,Bugeater Foods, AgriProtein Technologies,Crickers,Bensbugs and Fluker farms.