Edible Insects Market Continues to Expand as Canadian Meat Producer Maple Leaf Foods Invests in Edible Insect Producer Entomo Farms for Sustainable Production of Protein
Edible insect species are broadly distributed across the world, with the most common species found in North America, Europe, and Asia. There are many methods of cultivation of edible insects that have been developed throughout history. The production of mass production of these products has made them more widely available to consumers. Many mass production insect products are commercially available in the U.S. today such as crickets, meal, cricket chow, and cricket chowder. In recent years, insects have gained a reputation as healthy and effective dietary protein sources, and their wide variety of uses make them a popular choice for both vegetarian and non-vegetarian diets alike. In addition, many insects offer multiple nutritional benefits and have been used as natural drug therapies, with documented success rates of over 90% in certain African and Asian countries such as India and China.
Increasing demand for edible insects due to high nutritional value and applications in functional foods, especially in the Asia Pacific is expected to drive the growth of the global edible insects market. Edible insects such as beetles, grasshoppers, ants, wasps, crickets, and stinkbugs are highly nutritious in terms of protein content. Insects have a high content of mono- and polyunsaturated fatty acids and are rich in iron, copper, manganese, magnesium, zinc, phosphorus, and selenium. Besides, the protein content in edible insects ranges from 35-60% dry weight or 10-25% fresh weight, which is higher than soybeans, lentils, and cereal. Key players in the market are launching innovative products, in order to cater to rising demand. For instance, in January 2021, Hargol FoodTech, an Israeli food startup, introduced a new line of grasshopper protein. Thus, these factors are expected to drive the growth of the global edible insects market. Furthermore, the low cost of raw materials and increasing adoption of edible insects as protein supplements is expected to boost the growth of the global edible insects market.
However, a lack of awareness regarding health benefits of edible insects combined with a lack of regulatory clarity is expected to restrain growth of the global edible insects market. Among regions, North America is expected to witness significant growth in the global edible insects market. This is owing to rising awareness among consumers regarding the nutritional benefits of edible insects in the region. Furthermore, Middle East & Africa is expected to register a robust growth rate, owing to high consumption of edible insects in Africa.
Key players operating in the global edible insects market are HaoCheng Mealworms, Inc., Entotech, Agriprotein Technologies, Entomo Farms, EnviroFlight, Thailand Unique, Crowbar Protein, Cricket Flours, Fluker’s Cricket Farm Inc., Bugsolutely, Gathr Foods, Crik Nutrition, Bugeater Foods, and Ynsect.
For instance, in April 2018, Maple Leaf Foods, a Canadian meat company, invested in edible insect producer Entomo Farms.
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