The economic situation of Russia has grown significantly due to rising industrialization and support from the Government by developing open policy for the foreign companies. The edible insect and insect protein market is relatively less popular compared to the other protein types such as soy protein, whey protein and pea protein. Intensive awareness campaign especially in the Asian countries has augmented the demand for edible insect and its derivatives across food, beverage and dietary supplements industry. The market revenue of edible insect and insect protein in Russia is estimated at $3.53 million in 2018. The consumption is expected to capture the value of $14.41 million by 2023, registering a CAGR of 15.3% during the period of forecast.
Major demand driving factors for the expanding edible insect industry in the country is growing health consciousness among the consumers, rising awareness about the ill effects of meat and meat derivate products and strengthening demand of dietary supplements products especially among the young & middle-aged population. Shifting consumer focus towards alternative food sources which are more sustainable, natural and contains high nutritional value has created a growth platform for the edible insect industry. These drivers have helped the market to flourish which has resulted in growing application of edible insects such as cricket, locusts, grasshopper and others across bakery items, confectionery products, drinks, flavored drinks and supplement products.
Animal feed captures major market share of the edible insect and insect protein. High affordability, less carbon foot print and less raising period has resulted in growing application of insects across various feed types including poultry feeds, pets’ foods and fish foods. Though, the market of edible insect and insect protein faces many restraints including competition from the popular protein types, low acceptability and less development in terms of effective and efficient processing, cost effectiveness will attract both the manufactures and consumers to the industry.
Key Deliverables
Major demand driving factors for the expanding edible insect industry in the country is growing health consciousness among the consumers, rising awareness about the ill effects of meat and meat derivate products and strengthening demand of dietary supplements products especially among the young & middle-aged population. Shifting consumer focus towards alternative food sources which are more sustainable, natural and contains high nutritional value has created a growth platform for the edible insect industry. These drivers have helped the market to flourish which has resulted in growing application of edible insects such as cricket, locusts, grasshopper and others across bakery items, confectionery products, drinks, flavored drinks and supplement products.
Animal feed captures major market share of the edible insect and insect protein. High affordability, less carbon foot print and less raising period has resulted in growing application of insects across various feed types including poultry feeds, pets’ foods and fish foods. Though, the market of edible insect and insect protein faces many restraints including competition from the popular protein types, low acceptability and less development in terms of effective and efficient processing, cost effectiveness will attract both the manufactures and consumers to the industry.
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
