Edible Insects Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast 2016 - 2024
Albany, NY -- (SBWIRE) -- 06/19/2017 -- While previously, famines and other reasons causing shortage of food compelled people to include edible insects in their diet, today, these insects are being consumed owing to their nutritious properties. Transparency Market Research (TMR) in its latest report, studies the global edible insects market. The report is titled "Edible Insects Market - Global Industry Size, Market Share, Trends, Analysis, and Forecast 2016 - 2024Top of Form." Edible insects are not just being consumed by humans but are also being used as animal feed, and this is expected to drive the global edible insects market in the forecast period. Some of the edible insects that are expected to remain in demand are bees, ants, flies, wasps, scale insects, cockroaches, termites, beetles, crickets, and grasshoppers. These insects are rich sources of nutrition and used in poultry.
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The report studies the global edible insects market on the basis of geography, type, and application. On the basis of application, the market is segmented into human food, animal feed, and others. Today edible insects have become a part of food culture in many countries. This is boosting the prospects of the global edible insects market. The report also studies the key challenges faced by this industry so as to give readers an insight into what are the obstacles that they may encounter while investing in this market. Some of the challenges are, absence of legal framework pertaining to the consumption of these insects and a lack of distribution and networking channels. Moreover, there are negative perceptions regarding the consumption of edible insects owing to a lack of awareness. All these factors are restraining the growth of the global edible insects market.
However, the demand for protein continues and this will push consumers, especially the middle class population base, to shift to edible insects as animal protein is expensive. The malnourished children in developing nations are being fed with edible insects since they can be digested easily. This is increasing their importance in the food chain. Europe is expected to witness a high demand for these insects as insects have minimal risk of disease transfer when compared to other animals. Moreover, the presence of nutrients and micronutrients in edible insects such as iron, magnesium, copper, fatty acids, iron, zinc, phosphorus selenium, and manganese is another key factor for the rise in consumption of these insects in Europe. However, Sri Lanka, Malaysia, and China are expected to be major consumers of edible insects, making Asia Pacific the most lucrative regional market. African countries are also anticipated to see a growth in the edicble insects market in the years to come on account of their nutritional value.
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The players operating in the global edible insect market are Kreca V.O.F., LLC, AgriProtein Technologies, HaoCheng Mealworm Inc., Reese Finer Foods Inc., and EnviroFlight.