Argentina is among the largest economies in the South America region. Since past few years, the economy of the country is expanding rapidly due to increase in effort from the Government to boost industrialization and infrastructure development. The food and beverage industry of the country is also growing rapidly with changing dietary pattern. Companies are seeking for an affordable and sustainable food source that meets the present demand scenario and fulfils the needs and requirement of the consumers. Edible insect industry is very recent in Argentina with the market share of around one-fifth of South American edible insect and insect protein market. Growing level of disposable income, rapid rate of urbanization and high concern about the health and environment are some of the general factors that are estimated to drive the edible insect industry of Argentina.
In terms of market revenue, Argentina currently holds the value of $20.17 million in 2018. Animal feed industry shares highest market share of edible insect and insect protein application which is followed by food and fertilizer industries. Increasing population in the country are affected by obesity due to high consumption of meat and its derivative products. However, the awareness about health-related issues is growing due to high effort from the Government and the non-Governmental organization which has resulted in rising demand for edible insect and insect protein in the country. Moreover, due to rising trend of hitting gym and fitness clubs particularly among young and middle-aged population, the demand of supplement products such as drinks, juices, shakes, smoothies and other related products is growing. Hence, there is huge opportunity for the insect producers to capitalize on this trend and expand the edible insect and insect protein application.
Factors which restraints the edible insect industry are ever growing consumption of alternative protein types such as whey, soy wheat and rice proteins, low acceptability among consumers and less effort to explore effective and efficient processing techniques of insects for commercial purposes. However, many major insect producers are estimated to enter into the South American industry which would not only increase the supply but will also help to raise the awareness about edible insect-based products across various industry segments. Moreover, local new entrants would also benefit from the research and development. The market is expected to reach $39.5 million by 2023, registering a CAGR of 14.4% during the period 2018 to 2023.
Key Deliverables
In terms of market revenue, Argentina currently holds the value of $20.17 million in 2018. Animal feed industry shares highest market share of edible insect and insect protein application which is followed by food and fertilizer industries. Increasing population in the country are affected by obesity due to high consumption of meat and its derivative products. However, the awareness about health-related issues is growing due to high effort from the Government and the non-Governmental organization which has resulted in rising demand for edible insect and insect protein in the country. Moreover, due to rising trend of hitting gym and fitness clubs particularly among young and middle-aged population, the demand of supplement products such as drinks, juices, shakes, smoothies and other related products is growing. Hence, there is huge opportunity for the insect producers to capitalize on this trend and expand the edible insect and insect protein application.
Factors which restraints the edible insect industry are ever growing consumption of alternative protein types such as whey, soy wheat and rice proteins, low acceptability among consumers and less effort to explore effective and efficient processing techniques of insects for commercial purposes. However, many major insect producers are estimated to enter into the South American industry which would not only increase the supply but will also help to raise the awareness about edible insect-based products across various industry segments. Moreover, local new entrants would also benefit from the research and development. The market is expected to reach $39.5 million by 2023, registering a CAGR of 14.4% during the period 2018 to 2023.
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
2. Summary
3. Industry Dynamics
4. Market Size and Forecast
5. Competitive Analysis
6. Company Profiles
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
