Edible Insect Market Getting Stronger By The Day

Markets are projected to rise above 1 Billion By 2023

(Via Globe Newswire)

LONDON, March 21, 2018 – According to this latest publication from Meticulous Research™, the global edible insects market is expected to be valued at USD 1,181.6 million by 2023, growing at a CAGR of 23.8% from 2018, mainly due to “Growing population and decreasing food resources, increasing demand for protein rich food, high cost of animal protein, environmental sustainability with production and consumption of edible insects, high nutritional value of insects, and low risk of transmitting zoonotic disease.”

The report also notes that, crickets commanded the largest of the global edible insects market in 2017, primarily attributed to “Its high nutritional value, easy farming, easy processing and incorporation into various food recipes & products, and increasing demand for cricket-based products, such as protein powder, protein bars, and snacks, among others”.

Geographically, North America is slated to register the highest growth during the forecast period, primarily due to “Growing demand for environmental friendly high protein diets, aversion to highly processed foods, increasing demand for insect based foods, presence of large number of insect based food manufactures, and growing concerns about meat production”.