Growing Awareness about Nutritional Benefits of Insect Consumption to Fuel Demand for Edible Insects, Reports TMR
A new study by Transparency Market Research (TMR) presents a comprehensive analysis of the global market for edible insects. According to the report, the rise in the awareness level regarding the nutritional benefits of insect consumption has augmented the demand for edible insects remarkably in the recent times.
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The research report, titled “Edible Insects Market – Global Industry Size, Market Share, Trends, Analysis, and Forecast 2016 – 2024,” further states that the growing concerns over health among people across the world are likely to fuel the trend of insect consumption, resulting in significant growth in this market over the forecast period. The surge in the use of insects as pet food is also projected to influence the market’s growth positively in the near future.
For this study, analysts have examined the global market for edible insects on the basis of type of insect, application, and its regional spread. By insect type, this market has been categorized into locusts, termites, grasshoppers, caterpillars, beetles, and other insects. Beetles have been seeing high demand and are likely to remain the most preferred insect for consumption across the world throughout the forecast period. Grasshoppers are also expected to witness a steady rise in demand over the next few years due to the increasing use of dried grasshoppers in pet food.
Based on application, the report classifies the market into animal feed (aquaculture and poultry), human food, and other application. Hitherto, edible insects are mostly utilized in animal feed; however, due to the growing awareness regarding the nutritional value these insects add to the regular diet of a human, their use in human food has also been gaining momentum over the recent years, notes the study.
North America, Asia Pacific, Europe, and the Rest of the World have been identified as the key geographical segments of the global market for edible insects in this research report. Asia Pacific has emerged as the leading consumer of edible insects across the world. Led by Thailand and China, this regional market is likely to remain dominant during the forecast period. The growing demand from India, Bangladesh, Sri Lanka, and Malaysia is also expected to contribute considerably to this market’s growth over the years to come, states the report.
The competitive landscape of the worldwide market for edible insects has also been studied in this report in order to identify the current market hierarchy. Crik Nutrition, Nutribug, Edible Inc., GetSharp, Gathr Foods, Bitty Foods, Six Foods, Thailand Unique, Exo Protein, Chapul Inc., Chapul Inc., EnviroFlight, Kreca, AgriProtein Technologies, and HaoCheng Mealworm Inc. are some of the key players operating in this market, states the research study.