The edible insects market - Spain

Worldwide, the market for edible insects is still small. It was estimated at $400 million in 2018, compared to $650 million in 2020. The Asia-Pacific region is the largest revenue generator, ahead of Europe and South America. Market growth is directly related to current regulations. In Europe, novel food regulations will come into force in 2021, which will profoundly alter growth opportunities. Dried larvae of Tenebrio molitor (mealworms), frozen, dried and powdered forms of migratory locust (Locusta migratoria) and frozen, dried and powdered forms of house cricket (Acheta domesticus) will be available for sale. The United Kingdom and France are the two most advanced countries in this market, followed by Germany. Fundraising in the sector is on the rise, with Ynsect raising $372 million in 2020. In Spain, the edible insect market is still in its infancy, but has very high growth potential . Spain is a country conducive to insect farming, thanks to its favorable climate and large expanse of agricultural land. More and more companies are involved in the production of edible insects, offering a variety of species such as crickets, mealworms, crickets and larvae: some local players are emerging, especially in the region ofAragon, where there are several large-scale producers. The market for edible insects in Spain is stimulated by a number of factors, including a growing awareness of the importance of sustainable and environmentally friendly food. Edible insects are seen as a viable alternative to traditional animal proteins, as they require less water, land and feed to raise.