Persistence Market Research Pvt. Ltd is released new forthcoming report on title "Global Market Study on Edible Insects: Owing To Increasing Cost of Animal Protein and Increasing Consumption of Sustainable Food to Drive Market Growth By 2024"
New York, NY -- (SBWIRE) -- 10/20/2016 -- Persistence Market Research (PMR) delivers key insights on the global edible insects market in its upcoming outlook titled, "Edible Insects Market: Global Industry Analysis and Forecast, 2016 – 2024". In terms of value, the global edible insects market is projected to register a healthy CAGR of 6.1% during the forecast period due to various factors, regarding which PMR offers vital insights in detail.
On the basis of product type, the market is segmented into a product as a whole and product as an ingredient. Product as a whole segment is further sub-segmented into steam or fried, raw and BBQ. As an ingredient segment is sub-segmented into drinks, insect confectionery, snack and baked products, and others. The global market is driven by low capital investment, rapid growth in global population, alternatives for egg and dairy proteins, ease of harvesting and processing, low disease risk and food safety, less land for farming, and lower water consumption.
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On the basis of insect type, the market is segmented into beetles, caterpillar, hymenoptera, orthoptera, tree bugs, and others. Orthoptera and tree bugs segments are expected to account for relatively high CAGRs of 8.1% and 7.3% respectively during the forecast period.
Insect rearing involves low capital investment as compared to that needed for another conventional livestock rearing such as cattle, swine, and chicken. Substantial increase in global population and decreasing resources are other factors expected to drive demand for alternative food sources. According to United Nations, global population in 2050 is expected to reach 9 billion, significantly outgrowing existing food resources. Insects contain high protein and amino acids and can be a sustainable food source in future.
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Insects are a highly nutritious and a healthy food source with a high content of nutrients (fats, proteins, vitamins, fiber, and minerals) required by humans. Some individuals cannot palate egg, milk, or soy- derived protein due to allergic reactions. For example, milk sugar or lactose can cause severe allergic reactions that result in gastrointestinal side effects such as nausea, bloating, diarrhea etc. Insects contain high protein and amino acids, due to which some manufacturers add insect protein to various food products. Insect protein is organic and contains no artificial colors, sweeteners or fillers. Insects have high growth and feed conversion rates and low environmental footprint over their entire lifecycle. Insects are found across the globe and reproduce very rapidly. Farming and harvesting of edible insects provide farmers entrepreneurship opportunities across all economies. Insects provide a cheap source of food and can be reared to cater to the low-income population growth. These activities can directly improve diets and provide cash income through sales of excess produce as street food.
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