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  • Number of pages : 30 pages
  • Format : Digital and PDF versions
  • Last update : 02/03/2023
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Summary and extracts

1 Market overview

1.1 Definition and presentation of the market for edible insects

Insects are a rich source of protein, vitamins and minerals, while requiring fewer resources to raise than other animal protein sources. The edible insects market has two main pillars :

  • animal feed : insects can be incorporated into farm animal feed, providing an alternative to plant proteins and chemical fertilization ;
  • human food: edible insects can open up new culinary and nutritional possibilities (a highly regulated field).

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.

1.2 World market

The edible insect market could grow tenfold over the decade. In fact, the market is expected to grow at a rate of **.*%. Also, total sales are estimated to grow from $*.* billion in **** to $*.* billion in ****. It should be noted that *.* billion people consume insects every day[***]

edible insects market revenue evolution Global, ...

1.3 Domestic market

As Europeans have a reluctance to eat insects, it is difficult to foresee an increase in human consumption of insects. It is likely to remain limited over the next decade. However, the growth of insects for animal feed is very promising. According to estimates, they could replace at least **% of the ...

2 Demand analysis

2.1 Meat substitute

In the coming years, insects could become an important alternative to meat consumption. They are a very good source of protein and some species, such as the green grasshopper can provide up to ** grams of protein which is twice as much as beef (***).

Protein content by type of animal World, ****, grams Source: ...

2.2 Reluctance to eat insects

A quarter of Spaniards have already consumed insects and half said they might do so again. Most pointed to the ecological argument to justify their decision. However, according to a survey conducted by Nestlé, the proportion of Spaniards willing to try insects(***).

Food preferences of Spaniards Spain, ****, % Source: ****

On the other ...

2.3 Demand for feed

From INE data, the size of the meat production market in Spain can be estimated. Animals need protein products to grow, something that insects could replace, especially soybeans. The good health of that sector, which grew throughout the decade, bodes well for the insect feed sector. In ****, turnover was €** billion. The ...

3 Market structure

3.1 The insect food chain

The edible insect and derived products industry consists of four main stages: breeding, primary processing (***) and distribution. Market players operate in one or more of these stages.

Therefore, * types of agents can be identified: farmers, processors and distributors. However, many companies operate in several stages and are thus farmers-processors, processors-distributors or ...

3.2 The insect food chain

The feed insect industry is similar to the food insect industry, but is more developed and has global players.

Source: ****

The use of insects for animal feed has several advantages, especially environmental, as insects can feed on organic waste.

As a result, many actors are innovating in insect feeding. The use ...

4 Offer analysis

4.1 Award

In Spain, most large supermarket chains do not offer edible insects for sale. However, consumers can turn to specialized websites. Whole insects usually cost less than * euros for ** grams.

Source: ****

4.2 The supply of insect-based food products

The following two graphs illustrate the trends in the supply of insect-based products in Europe. It can be seen that the most popular products in Europe are also those whose market share will decrease in the coming years in favor of other products that are currently less widespread.

In ****, whole insects ...

5 Regulation

5.1 European Regulation

The marketing of insects for human consumption falls within the scope of European Commission Regulation (***). This regulation requires that any food considered "novel food" must be authorized by the Community before being placed on the market. A "novel food" is defined as "any food which was of negligible importance for human ...

6 Stakeholder positioning

6.1 Segmentation

The companies in this segment are mostly start-ups in the growth phase. No data on turnover is available.

List of charts

  • Geographical distribution of European entomocultural agents
  • Evolution of turnover in the edible insects market
  • Edible insects market size by region
  • Protein content by type of animal
  • Distribution of Spaniards according to diet
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Latest news

Ynsect reinvents the way animals are fed. - 17/05/2022
  • Ynsect raises $372 million to build its future production site
  • Start-up prepares to open the world's largest insect farm
  • Ynsect to eventually reach a production capacity of 200,000 tons of ingredients per year
  • 250 people working in the plant
  • Ynsect invests 10 million euros in a genomic selection program with several partners, including the French Atomic Energy Commission (CEA) and artificial intelligence image analysis tool provider Aprex Solutions
Ynsect continues its expansion with the acquisition of Jord in the United States - 30/03/2022
  • Specialist in insects for animal feed
  • New plant in Tarare
  • According to ADM, the insect market is worth $100 billion, with an annual growth rate of 4.5%
  • Ÿnsect valued at nearly $4 billion
  • Acquisition of Protifarm in 2021
  • Acquisition of Jord Producers in 2022
  • Jord Producer markets its products whole or dried, mainly to private individuals

Companies quoted in this study

This study contains a complete overview of the companies in the market, with the latest figures and news for each company. :

Ynsect
Accro (Nxtfood)
Jimini's - Entoma
Insectum
BCN Insects

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