Pune, India, January 30, 2019 -- /360iResearch/ -- The report "Global Edible Insects Market - Premium Insight, Industry Trends, FPNV Positioning Matrix, Competitive News Feed Analysis, Company Usability Profiles, Market Sizing & Forecasts to 2024 (Q4 2018 Update)", published by 360iResearch, states that the global market was valued at USD 0.25 billion in 2017 and is projected to reach USD 1.39 billion by 2024, growing at a CAGR of 27.80% from 2017 to 2024.
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The major forces driving the growth of the edible insects market include the rising popularity of canned edible insects due to high nutrition value that it carries and increasing demand in feed usage considering most resource-intensive parts of livestock farming. Moreover, positioning as a superfood by the leading end-use product manufactures and emerging as a comparatively cheaper protein source are also some of the factors that are driving the market growth. However keeping cost low, and lack of know-how and standardization towards mass production may hinder the market growth. In the middle of difficulty lies opportunity such as the booming insect-food start-ups, and increasing market prospects for non-gmo and organic certified products. The possible challenges for the market growth are stereotypes discouraging consumption in developed economies, and ambiguously defined regulatory framework. But key players in the market are overcoming the challenges with continual improvement and innovation.
Based on form, the global edible insects market is studied across Deep Frozen Insects, Freeze-Dried Insects, Live Insects, and Roasted. Based on type, the global edible insects market is studied across Ants, Beetles, Crickets, Grasshoppers, Mealworms, Palm weevils, Sago worms, Scorpions, Silk Moth Pupae, Super warms, Tarantula, and Waxworms. Based on application, the global edible insects market is studied across Animal Feed, Insect Catering, Nutritional Bars & Drinks, and Pet Food. Based on distribution channel, the global edible insects market is studied across Offline Mode, and Online Mode. Based on geography, the global edible insects market is studied across Americas, Europe, Middle East & Africa, and Asia-Pacific.
The report features a competitive scenario of the edible insects market and provides inclusive analysis of key growth strategies adopted by major players. Key company profiled in the study are Beetlejelly, Bitty Foods, Bugsolutely Ltd., Deli Bugs Ltd., Eat Grub Ltd, Ento Tech, Entomo Farms Ltd., Enviro Flight LLC, Essento, Exo Inc., Kreca Ento - Food BV, Proti - Farm, and Thailand Unique.
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Miss. Shikha Sachan
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