Global edible insect food market is anticipated to showcase a tremendous CAGR of 42.1 % during the forecast period i.e. 2015-2021. Moreover, the global edible insect food market is projected to account exponential sales of USD 522.5 Million by the end of 2021. Additionally, the market is riding on the back of increasing health concerns among the consumers.
The flour segment is projected to attain a maximum number of shares in overall edible insect food market. In terms of geography, With USD 13.0 Million, Asia-Pacific region accounted for the lion share in the global edible insect food market aided by China, Thailand and others. Further, wide availability of edible insect food in this region is predicted to upsurge the growth of edible insect food market. Apart from this, Europe edible insect food market is anticipated to grow at robust CAGR and reach USD 46.2 Million by 2023.
High Cost of Other livestock
Rising monetary cost of conventional livestock such as pigs, chicken and others are projected to uplift the sales of edible insect food market. Moreover, rising awareness regarding the benefits of edible insect food such as high protein content loaded with numerous vitamins is also predicted to fuel the demand for edible insect food.
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Rising Health Consciousness
Increasing inclination of young generation towards the fitness and wellness and swelled disposable income are projected to flourish the growth of edible insect food market. Moreover, growing adoption of edible insect food due to presence of essential amino acids vitamin, potassium, zinc and calcium is also believed to bolster the growth of edible insect food market.
On the contrary, presence of other livestock edible foods such as chicken is anticipated to hamper the growth of edible insect food market across the globe.
The report titled “Edible Insect Food Market: Global Demand Analysis & Opportunity Outlook 2021” delivers detailed overview of the global edible insect food market in terms of market segmentation by type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
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This report also provides the existing competitive scenario of some of the key players of the global edible insect food market which includes company profiling of HaoCheng Mealworm Inc., Reese Finer Foods Inc., Kreca, AgriProtein Technologies, EnviroFlight LLC. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global edible insect food market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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