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Saudi Arabia Edible Insect & Insect Protein Market- Size, Trends, Competitive Analysis and Forecasts (2018-2023)

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    Report

  • 121 Pages
  • June 2018
  • Region: Saudi Arabia
  • Hypercube Insights
  • ID: 4650660
Saudi Arabia is among the strongest economies in the world. The country has recorded considerable growth since past few years in terms of infrastructure growth and industrialization. The protein industry in the country is growing at a healthy rate due to rising awareness about its health benefits and growing consumption of supplement products to maintain healthy body. Consumption of meat and its derivative products in Saudi Arabia is very high and there is relatively low awareness about the edible insect and insect protein-based products. Thus, Saudi Arabia contributes just around 2% of edible insect and insect protein market in the region.

Market revenue of Saudi Arabia currently captures the value of $3.9 million in 2018. The industry of edible insect and insect protein is expected to grow at a CAGR of 15.3% during the forecasting period in order to attain the level of $7.9 million by 2023. Major drivers of edible insect and insect protein industry in the country is growing population asking for affordable and protein rich food sources, rising awareness about the health disadvantages of meat and its derivative products and rising population affected by gluten intolerance. The application of edible insects across food, beverage and dietary supplements industry is still very low compared to its application across animal feed industry. Animal feed industry shares highest market share of all the applications of edible insect. The minerals, vitamins and other important substances that insects increases the nutritive level of soil for crop growth. Rising bio fertilizer companies are considering to use insects’ ingredients.

There are many restraints that the market of edible insect face in the country which includes, growing demand of alternate protein sources, rising trend of veganism and vegetarianism, low acceptability among the population to consume edible insects as a food source and less knowledge about the effective and efficient processing of insects to produce various products. However, due to rising global trend of insect consumption as a viable alternative to other food source, growing population in Saudi Arabia are making efforts to change their taste and opt for more sustainable and healthy food sources. Other than traditional industries of application of edible insects and insect protein, chemical, pharmaceuticals, medical and cosmetics presents huge opportunity for the growth of the market in coming years.

Key Deliverables

  • Market trends since 2014 and five year forecasts of market growth

  • Detailed analysis of the micro and macro elements influencing demand trends

  • Identifying opportunity spaces across segments and countries

  • Supply & demand side trend and analysis

  • Price trend analysis, investment prospects and competition pattern

  • Insights on growth potential of the market

  • Detailed analysis of major producers covering financial investments & strategies adopted

  • Competitive landscape of the industry

Table of Contents

1. Introduction
1.1 Research Methodology
1.2 Scope of the Study
1.3 Assumptions
2. Summary
2.1 Market Summary By Type
2.2 Market Summary By Application
2.3 Market Summary by Geography
3. Industry Dynamics
3.1 Drivers
3.1.1 Growing demand for sustainable sources of protein
3.1.2 Rising health consciousness especially in developing countries
3.1.3 Increasing environmental impacts of factory farming of animals
3.1.4 Strengthening demand for dietary Supplements
3.1.5 Search for additional sources of protein for animal feed
3.2 Restraints
3.2.1 Lack of commercially feasible extraction process
3.2.2 Less commercial viability and consumer acceptance
3.2.3 Low awareness about the product
3.2.4 Regulatory Hurdles
3.3 Opportunities
3.3.1 Rising global demand for protein
3.3.2 Growth in functional food & nutraceuticals industry
3.3.3 Increasing demand for lactose-free, gluten free protein products
3.4 Porter’s Five Forces Analysis
3.4.1 Bargaining power of Suppliers
3.4.2 Bargaining power of Buyers
3.4.3 Degree of Competition
3.4.4 Threat of Substitution
3.4.5 Threat of new entrants
3.5 Future Trends in Insect Protein Industry
3.6 Value Chain Analysis
3.7 Industry Policies & Regulations
3.8 Market Innovations
4. Market Size and Forecast
4.1 Market Share, Product Type
4.1.1 Whole Insect
4.1.1.1 Live
4.1.1.2 Dried
4.1.1.3 Frozen
4.1.1.4 Freeze Dried
4.1.1.5 Canned
4.1.2 Powder
4.1.3 Extracted Protein
4.1.3.1 Protein Isolate
4.1.3.2 Textured Protein
4.1.3.3 Powder Capsules
4.1.4 Meal
4.1.5 Oil
4.1.6 Others
4.2 Market Share, Insect Type
4.2.1 Beetles
4.2.2 Caterpillar
4.2.3 Bees, ants and wasps
4.2.4 Locust
4.2.5 Grasshopper
4.2.6 Cricket
4.2.7 Cicadas
4.2.8 Others (Termites, Dragon flies, Flies)
4.3 Market Share, Application
4.3.1 Food
4.3.1.1 Confectionary
4.3.1.2 Bakery
4.3.1.3 Snacks
4.3.1.4 Dairy Alternative
4.3.1.5 Meat Analogues and Extenders
4.3.1.6 Others
4.3.2 Beverages
4.3.3 Dietary Supplements
4.3.4 Animal Feed
4.3.4.1 Poultry Feed
4.3.4.2 Swine Feed
4.3.4.3 Pet Food
4.3.4.4 Aquafeed
4.3.5 Fertilizers
4.3.6 Others
5. Competitive Analysis
5.1 Market Share Analysis
5.2 Growth Strategies of leading players
5.3 Investment and Development Prospects
5.3.1 Investment in past five years
5.3.2 Investment Opportunities
5.4 Competition Pattern
5.4.1 Concentration Ratio
5.4.2 Industry Competition
5.5 Price Trend Analysis
5.5.1 Product Classifications and Their Prices
5.5.2 Factors Influencing Prices
6. Company Profiles
6.1 HaoCheng Mealworm Inc.
6.2 Proti-Farm Holding NV
6.3 Enviroflight
6.4 Exo Inc.
6.5 Agriprotein Technologies
6.6 nextProtien
6.7 Nutrition Technologies
6.8 Ynsect
6.9 Entocycle
6.10 Agroloop
6.11 Enterra Feed Corporation
6.12 Protix
6.13 Flying SpArk
6.14 Chapul Inc.
6.15 Entofood
6.16 Innovafeed
6.17 Insectum
6.18 Thailand Unique
6.19 Kreca
6.20 Bitty Foods
6.21 Gathr Foods
6.22 Unique
6.23 Edible Inc.
6.24 Nutribug
6.25 Crik Nutrition
6.26 Bugsolutely
6.27 Bugeater Foods
6.28 Micronutris
Appendix
Sources
Disclaimer

Companies Mentioned

  • Proti-Farm Holding NV

  • Enviroflight

  • Exo Inc.

  • Agriprotein Technologies

  • nextProtien

  • Ynsect

  • Entocycle

  • Enterra Feed Corporation

  • Protix

  • Chapul Inc.

  • Innovafeed

  • Thailand Unique

  • Kreca

  • Edible Inc.

  • Crik Nutrition

  • Bugso