EDIBLE INSECTS MARKET ANALYSIS

Market Challenges And Opportunities

Drivers

The advantage such as low cost of investment as compared to other conventional livestock such as pork, beef, and chicken is expected to augment the market growth of edible insects. Rising demand for protein-rich food products such as protein bars and snacks due to rising health consciousness among consumers is also expected to accelerate the market growth of edible insects over the forecast period.

Easy availability coupled with the increasing production of edible insects is expected to accelerate the market growth over the forecast period. Farming and harvesting of edible have significantly increased in the last few years due to rising awareness regarding the health benefits of the edible insects. This is projected to impact market growth positively over the forecast period. 

Market Restraints

Human consumption of edible insects is limited to certain regions since it is considered as a taboo. This is expected to hinder the market growth of the edible insects.

Lack of a legal blueprint for the consumption of edible insects coupled with the lack of distribution channel is some of the factors expected to restrict the market growth of edible insects.

Market Opportunities

Increasing demand for mixed insect’s packs that entails various edible insects is expected to augment the market growth of the edible insects. The mixed insect's packs usually contain mealworms, crickets, and cockroaches that are packed in deli cups and this is considered under ready-to-eat food products. Thus, the rising demand for mixed insect packs will favor market growth.

The growing use of edible insects as a coloring agent across various food products is projected to foster the market growth of the edible insects over the forecast period. For example, cochineal is an insect used to color strawberry and other food products such as donuts, cakes, and pies. Cochineal extract is a natural ingredient and is FDA approved for use across various food products.