U.S. is one of the largest markets of edible insect and insect protein in North America region. It contributes around 45% of total North American edible insect market. Strong economy of the country and strong investment structure helps the research institutes to innovate in the edible insect market to develop. Presently, the market is estimated at $47.6 million in 2018. Rising demand of alterative food source in order to preserve environment and to meet sustainability goals is expected to give boost to the insect industry. Moreover, increasing population in the country are gradually switching to insects as a food source in their diets.
Major demand driving factors of rapidly growing edible insect market in the country is growing consumption of proteins and increasing demand for alternative protein types and food sources that are more sustainable and environmental friendly. This edible insect and insect protein market of the U.S. to is forecasted to grow at a CAGR of 17.1% during 2018 to 2023, to capture the value of $104.9 million by 2023. The animal feed industry accounts for major share of the edible insect market. The growth in compound feed industry is expected to maintain the steady rate of consumption of insect protein in the animal feed segment. The application of edible insect across animal feed is expected to grow at a CAGR of 17.1% during the forecasting period.
Food industry in the U.S. has been developing dynamically since past few years. Rising consciousness about the health problems such as diabetes, cardiovascular diseases, heart problems and rising level of obesity has resulted in growing demand for food source that are free of fat and carbohydrates. Moreover, the demand of lactose free and gluten products has also been on the rise since last decade. All these factors in the food industry has created a platform for edible insect and insect protein market. The application of insect protein market in food industry accounts for estimated $7 million in 2018.
There are number of edible insect and insect protein producer in the U.S. Enviroflight, Exco Inc., Chapul Inc., Bitty Foods and Bugeater Foods are some of the leading producers of edible insect-based products. These companies are strategizing to expand their market size by developing innovative product portfolio that meets the demand of consumers in terms of taste, flavor and nutritional value. Insect protein market is still in the initial phase of development. Major players have a challenge to make the product competitive against popular protein types such as whey, soy and wheat. The regulations of the edible insect industry are also vaguely defined in the country. These factors are hindering the growth of edible insect industry but rising awareness among the population about the potential advantage of insect would aid in the growth of the industry.
Key Deliverables
Major demand driving factors of rapidly growing edible insect market in the country is growing consumption of proteins and increasing demand for alternative protein types and food sources that are more sustainable and environmental friendly. This edible insect and insect protein market of the U.S. to is forecasted to grow at a CAGR of 17.1% during 2018 to 2023, to capture the value of $104.9 million by 2023. The animal feed industry accounts for major share of the edible insect market. The growth in compound feed industry is expected to maintain the steady rate of consumption of insect protein in the animal feed segment. The application of edible insect across animal feed is expected to grow at a CAGR of 17.1% during the forecasting period.
Food industry in the U.S. has been developing dynamically since past few years. Rising consciousness about the health problems such as diabetes, cardiovascular diseases, heart problems and rising level of obesity has resulted in growing demand for food source that are free of fat and carbohydrates. Moreover, the demand of lactose free and gluten products has also been on the rise since last decade. All these factors in the food industry has created a platform for edible insect and insect protein market. The application of insect protein market in food industry accounts for estimated $7 million in 2018.
There are number of edible insect and insect protein producer in the U.S. Enviroflight, Exco Inc., Chapul Inc., Bitty Foods and Bugeater Foods are some of the leading producers of edible insect-based products. These companies are strategizing to expand their market size by developing innovative product portfolio that meets the demand of consumers in terms of taste, flavor and nutritional value. Insect protein market is still in the initial phase of development. Major players have a challenge to make the product competitive against popular protein types such as whey, soy and wheat. The regulations of the edible insect industry are also vaguely defined in the country. These factors are hindering the growth of edible insect industry but rising awareness among the population about the potential advantage of insect would aid in the growth of 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
