The global edible insect products market was valued at USD 8.5 billion in 2022 and is projected to expand at a CAGR of 19.2% from 2023 to 2030. Edible insects are becoming increasingly popular due to their high nutritional value and environmental sustainability. They are rich in protein and minerals, such as iron, zinc, magnesium, and calcium, and are a great source of essential fatty acids. Insects, such as grasshoppers, ants, beetles, wasps, and caterpillars, are used in the production of edible insect products. They are also used to make a wide range of food items such as burgers, sausages, chips, and cookies.

The increasing demand for sustainable food sources is expected to drive the market growth. A growing number of people are looking for sustainable food sources, owing to their high nutritional value, environmental sustainability, and low carbon footprint. Additionally, the increasing health awareness among people is expected to boost the demand for edible insect products. Furthermore, the rising demand for convenience food is likely to drive the market growth.

The increasing number of food and beverage companies that are launching new edible insect products is further driving the market growth. For instance, in April 2021, Jimini’s, a French edible insect company, announced the launch of a new range of edible insect products, including chili-flavored cricket burgers and roasted mealworm snacks. Aside from that, the rising trend of premiumization in the food and beverage industry is expected to support the growth of the market.

Moreover, the increasing number of collaborations among market participants is further contributing to market growth. For instance, in April 2021, Aspire Food Group, an edible insect farming company, announced a collaboration with Dormei, a food technology company, to launch a new range of edible insect-based products. This collaboration will help the company to expand its product portfolio and reach out to more customers.

Furthermore, the rising trend of health-conscious consumers is further boosting the growth of the market. Consumers are increasingly looking for healthier alternatives to traditional food items. Owing to their high nutritional value, edible insect products are becoming increasingly popular among health-conscious consumers. In addition, the increasing awareness about the benefits of edible insect products is further driving the market growth.

The edible cricket segment led the market and accounted for a share of around 30.7% in 2022. The increasing demand for edible insects can be attributed to the rising awareness about the health benefits of edible insects, such as high protein content, low fat content, and essential vitamins & minerals. According to a study published by the Entomological Society of America in June 2019, edible insects are highly sustainable as compared to traditional sources of proteins. Furthermore, the increasing demand for organic insect proteins and the growing popularity of edible insect-based snacks are some of the key factors driving the growth of the market.

The grasshopper segment is anticipated to expand at the fastest CAGR of 7.6% over the forecast period. The rising demand for grasshoppers as a source of sustainable protein and the increasing use of grasshoppers as a healthy snack are some of the key factors driving the growth of the market. Additionally, grasshoppers are also gaining popularity in the vegan community as a sustainable source of protein. According to an article published by the American Food Journal, in June 2020, the demand for grasshopper-based snacks is on the rise due to their high protein content and low calories.

The supermarkets and hypermarkets segment held the largest share of over 34.0% in 2020. The growth of the segment is mainly driven by the increasing number of supermarkets and hypermarkets across the world, which allows customers to purchase their desired edible insect products at a single window. Furthermore, the availability of a wide range of edible insect products in supermarkets and hypermarkets, coupled with convenience and discounts, has further enhanced the segment’s growth.

The online segment is anticipated to expand at the highest CAGR of 12.3% over the forecast period. The rising number of internet users and the increasing penetration of smartphones across the globe is driving the growth of the segment. In addition, the availability of products at discounted prices, convenience of online shopping, and the availability of multiple payment options are further driving the growth of the online segment. Furthermore, the development of online platforms by food retailers to sell edible insect products is likely to further boost the segment’s growth.

The live segment is expected to hold the largest revenue share of 87.2% in 2022, owing to the increasing preference for consumption of live insects. The rising popularity of edible insects has resulted in the development of new products such as cricket flour, cricket powder, chapul bars, and chocolate-covered crickets. For instance, in March 2021, Exo, a start-up based in New York City, launched an energy bar with cricket flour as the primary ingredient, which is aimed at providing a protein-rich snack for athletes and health-conscious consumers.

The processed segment is expected to expand at the highest CAGR of 8.3% over the forecast period. The surge in the demand for processed insect-based products has resulted in the development of new products such as burgers, sauces, and snacks. For instance, in 2019, Aspire Food Group, a Texas-based start-up, launched a cricket flour-based burger patty, which is designed to provide a protein-rich meal. Furthermore, the rising trend of online shopping is contributing to the growth of the segment.

Asia Pacific is the largest market for edible insects and is expected to remain so during the forecast period. Growing consumer awareness regarding the health benefits of edible insect products is a major factor driving the growth of the market in this region. Apart from this, increasing demand for sustainable protein sources is also expected to drive the growth of the market in Asia Pacific. For instance, in April 2021, Ento Foods, based in India, launched a range of cricket-based protein snacks.

Europe is expected to witness the second-fastest growth in the coming years. Increasing demand for sustainable food sources and rising consumer awareness regarding the health benefits of edible insect products are some of the key factors driving the growth of the market in this region. For instance, in March 2021, the UK-based Exo Protein launched a range of cricket-based protein snacks.

In this part of the edible insect products business plan we will provide a detailed breakdown of all income and expense categories of the business. These forecasts include cash flow projections and capital requirements for your edible insect products business. Usually, these projections are drafted for a 5-year period.

Revenue Assumptions

The main source of revenues for an edible insect products business comes from the sale of products, catering services, and contracts with other businesses. Here you will find a list with a description of each of them and other possible sources of profit such as fundraising, the sale of merchandise, and events.

Projecting Expenses

In this section, all the regular expenses related to keeping the edible insect products business running will be described. The list of operating expenses includes marketing and advertising, wages, maintenance and repairs, utilities, insurance policies, licensing fees, and others.

Some of the key companies operating in the edible insect products market are increasingly focusing on product launches and expansion of the distribution channel to gain prominent visibility among consumers. Some of the initiatives are:

– In June 2022, Entomo Farms launched a line of cricket-based snacks, featuring flavors such as Sweet & Spicy and BBQ.

– In August 2022, Aspire Food Group launched a line of cricket-based protein bars, featuring flavors such as Dark Chocolate & Coconut and Peanut Butter & Honey.

– In October 2022, Bitty Foods launched a line of cricket-based baking mixes, featuring flavors such as Chocolate Chip and Peanut Butter.

Some of the prominent players in the edible insect products market include:

– Entomo Farms
– Aspire Food Group
– Bitty Foods
– World Ento
– Tiny Farms
– Jimini’s
– Aketta
– Exo
– Chapul
– Six Foods

This report forecasts growth at global, regional, and country levels and provides an analysis of the latest industry trends in each of the sub-segments from 2017 to 2030. For this study, Grand View Research has segmented the global edible insects products market based on product type, distribution channel, and region:

1. Product Type Outlook (Revenue, USD Million, 2017 – 2030)

– Mealworms
– Crickets
– Grasshoppers
– Others

2. Distribution Channel Outlook (Revenue, USD Million, 2017 – 2030)

– Supermarkets & Hypermarkets
– Online
– Others

3. Regional Outlook (Revenue, USD Million, 2017 – 2030)

– North America
– Europe
– Asia Pacific
– Central & South America
– Middle East & Africa

[Q]: What are the Main Drivers of the Edible Insects Market?
[A]: The global edible insects market is driven by widespread acceptance of edible insects as a sustainable protein alternative, growing demand for protein-rich diets, and rising health consciousness among consumers. Additionally, the increasing health benefits associated with edible insects, such as high protein content, low calorie content, and essential amino acids, have further contributed to the growth of the global edible insects market.

[Q]: Who are the Key Players in the Edible Insects Market?
[A]: The key players in the global edible insects market are Bugsolutely LLC, Entomo Farms, Meunerie Milenis, All Things Bugs, BUGS GmbH, Aspire Food Group, Tiny Farms, and Ento-Foods B.V.

[Q]: What are the Different Types of Edible Insects?
[A]: Common edible insects include crickets, grasshoppers, mealworms, beetles, ants, caterpillars, and cicadas.

[Q]: Which Region Accounts for the Largest Share of the Edible Insects Market?
[A]: Asia-Pacific is expected to be the largest market for edible insects, with China and Thailand being the key markets for the product. This is attributed to the rising demand for protein-rich diets, coupled with the widespread acceptance of edible insects as a sustainable protein alternative.

[Q]: What are the Challenges Faced by the Edible Insects Market?
[A]: Some of the key challenges faced by the edible insects market include stringent regulations pertaining to the sale and production of edible insects, low acceptance among consumers, and the high cost of production.