A fresh report titled “Edible Insects Market – By Product Type (whole insect, insect powder and insect meal), By Application (dietary supplement, animal feed, confectionery, beverages and others), By Insect Type (beetles, caterpillars, crickets, bees, ants and others) By Distribution Channel (Online Stores and Offline Stores) & Global Region – Market Size, Trends, Opportunity, Forecast 2018-2024” has been presented Fast.MR. It evaluates the key market trends, advantages, and factors that are pushing the overall growth of the market. The report also analyzes the different segments along with major geographies that have more demand for Edible Insects Market. The competition analysis is also a major part of the report.
Edible insects are full of high-quality protein, vitamins, and amino acids. Edible Insects such as beetles, caterpillars, grasshoppers, locusts, crickets, wasps, bees and ants are a nutrient-dense food, high in protein, vitamins, and minerals and offers many potential health benefits. Due to the strong demand for nutritional foods, the global edible insects market reached at a market valuation of USD XX.X Billion in 2018 and is estimated to grow at a CAGR of XX.X% during the forecast period, i.e., 2019-2024.
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Growth Drivers – Edible Insects Market
Insects are nutritious and packed with all essential amino acids, and they have as much calcium as milk and iron as spinach. There are nearly 2,000 edible insects present in the world, and these insects are consumed across the globe. Entomophagy practice is growing strongly around many countries, including China, Africa, Asia, Australia, New Zealand, and some developing regions of Central and South America owing to its health benefits.
Growing Food Security
Scarcities of agricultural land, water, forest, fishery, and biodiversity resources, as well as nutrients and non-renewable energy, are foreseen to encourage the consumption of edible insects in coming years. Edible insect farming is very easy as compared to animal farming, and insect farming needs less soil, less water, and less feed. Edible insect production is likely to increase in the coming years since the world’s resources are diminishing, but the population is growing steadily. Edible insects are poised to become a weapon against food scarcity in the future. As the population is growing enormously, food manufacturers are considering edible insects as the food of the future.
Western Countries are Embracing Edible Insects
World population is poised to surpass 9 billion by 2050, and food production needs to be double to meet that demand. In western countries such as the U.S. & Canada, people have started embracing edible insects in different forms. Even fast-food outlets have started selling edible insect-based food & beverage items. Consumers in western countries are increasingly aware of environmental benefits and need of eating insects, which further have backed the adoption of edible insects in western countries.
The edible insects market is segmented in different categories including by product type, by insect type, by application, and by distribution channel. The market is segmented by product type into whole insect, insect powder, and insect meal. Among this segment, the insect powder is expected to capture significant growth rate during the projected period. Global insect powder segment was totaled at USD XXX.X billion in 2018 and is projected to reach USD XXX.X billion in 2024 at a CAGR of XX.X% from 2019 to 2024.
Moreover, based on the application, the edible insect market is further sub-segmented into a dietary supplement, animal feed, confectionery, beverages, and others. Among which nutritional supplement segment is about to register a remarkable growth rate in upcoming years. The report is further breakdown into two more sections including by insect type (beetles, caterpillars, crickets, bees, ants and others) and by distribution channels (online stores and offline stores).
Regionally, the report offers an analysis of North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. When it comes to edible insect market, Asia Pacific is the leader in edible insect market. The Asia Pacific region has acquired significant market shares and is poised to continue its dominance in the coming years. Asian countries such as Thailand, Vietnam, China, Australia, India are the major consumers of insects around the world.
The report also covers detailed competitive analysis of major market players of the global edible insects market, such as Insectéo, Goffard Sisters Ltd., Chapul Cricket Protein, DeliBugs, Eat Grub, Damhert Nutrition nv, All Things Bugs, LLC, EntomoFarms and other major & notable players. Competitive landscape analysis provides detailed strategic analysis of the company’s business and performance such as financial information, revenue breakup by business segment and by geography, SWOT Analysis, key facts, company overview, business strategy, key product offerings, marketing and distribution strategies, new product development, recent news (acquisition, expansion, technology development, research & development and other market activities).
Browse Full Report Analysis With Impact of COVID -19 on Edible Insects Market – https://www.fastmr.com/report/47/edible-insects-market
Key Questions Answered in the Global Edible Insects Industry Report
-What is the overall market size in 2018? What will be the market growth during the forecast period i.e. 2019-2024?
-Which region would have high demand for product in the upcoming years?
-What are the factors driving the growth of the market?
-Which sub-market will make the most significant contribution to the market?
-What are the market opportunities for existing and entry-level players?
-What are various long-term and short-term strategies adopted by the market players?