May 19, 2022 12:48 ET | Source: Facts & Factors Facts & Factors
NEW YORK, NY, May 19, 2022 (GLOBE NEWSWIRE) -- Facts and Factors has published a new research report titled “Edible Insects Market - Global and Regional Industry Trends, Competitive Intelligence, Analysis of Data, Statistical Data, and Forecast 2022-2028” in its research database.
“According to the latest research study, the demand of global Edible Insects Market size & share was witnessed USD 0.51billion in 2021and it is expected to surpass around USD 1.8 billion Mark, by 2028, at a compound annual growth rate (CAGR) of about 18.2% during the forecast period 2022 to 2028.”
What are Edible Insects? How big is the Edible Insects Industry?
Edible insects are insect species that are consumed by humans. Edible insects provide high-quality vitamins, protein, and amino acids that humans require. These insects have a greater food conversion rate and a lower production cost. Furthermore, they produce fewer greenhouse gases and ammonia than conventional farm animals.
Organic waste can also be used to grow edible insects. As a result, insects are a significant source of conventional protein production for direct human consumption.
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Global Edible Insects Market: Dynamics
With increased awareness of the potential benefits of edible insect products and increasing demand for naturally fortified ingredients, industry players are creating innovative methods to sell their products by offering discounts, free samples, and attractive packaging, which can be considered a key driver of the global edible insects market during the forecast period.
In countries such as India, cultural beliefs and negative consumer perceptions can stifle market growth. Insufficient distribution channels and the lack of a legal framework governing the use of insects are expected to limit market growth during the forecast period.
Browse the full “Edible Insects Market By Type of Product (Insect Oil, Insect Meal, Insect Powder, and Whole Insect), By Type of Insect (Mealworms, Flies, Black Soldiers, Crickets, and Others), By Application (Food & Beverage and Animal Feed), and By Region - Global and Regional Industry Trends, Competitive Intelligence, Analysis of Data, Statistical Data, and Forecast 2022-2028” Report at https://www.fnfresearch.com/edible-insects-market
Edible Insects Market: COVID-19 Impact Analysis
The COVID-19 pandemic caused various hurdles to the food industry, notably meat producers around the world. The meat processing sector has encountered numerous obstacles, including the threat of halting production, distribution, mass transit, and other supply chain operations such as a shortage of labour, and product development delays.
The planned change in private capital investment and public finance plans further impeded the food sector's development. These variables are projected to have an impact on the meat-processing business, driving up demand for alternative protein sources such as edible insects.
Edible Insects Market: Segmentation Analysis
The global edible insects market is segmented on the basis of type of product, type of insect, application, and region.
Type of Product Segment Analysis
Type of Insect Segment Analysis
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Some of the main competitors dominating the global edible insects market include -
Key Insights from Primary Research:
Key questions answered in this report:
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During the forecast period, North America is expected to grow at the highest CAGR for the global edible insects market. The increasing adoption of environmentally friendly protein-rich food products is driving up demand for edible insect foods in this region.
Furthermore, increasing acquaintance with insects as food, reducing food neophobia, and changing attitudes toward insects overall and as food are the primary drivers of the edible insects market in North America.
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The global edible insects market is segmented as follows:
To know an additional revised 2022 list of market players, request a sample report: https://www.fnfresearch.com/sample/edible-insects-market
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