Insects Snacks Market Scope
Insect snakes are insect species used for human consumption. More than 2000 insect species worldwide are considered edible. Insects are nutrient-efficient compared to other meat sources. Insects such as crickets are a complete protein and contain a useful amount of protein. Increasing consumption of convenience snacks due to the busy lifestyle of people is yet another determinant fuelling the market growth. In a few years, consumer preference has moved towards healthy snacks including insects. Consumers prefer more information on the packaging of the products. The growing inclination of the population towards a health-conscious lifestyle this factor is driving the market and the High cost of insect snacks this factor may restrain the market.
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|Key Companies Profiled||ENTOSENSE, LLC (United States), Essento (Switzerland), JR Unique Foods Ltd., (Thailand), Eat Grub (United Kingdom), Jiminiís (France), Thailand Unique (Thailand), Entomo Farms (Canada), Chapul Cricket Protein (United States), Edible Inc. (Korea) and Cricket Flours (United States)|
Competition among existing players is due to the stiff market share occupied by leading players. The industry leader is engaged in offering innovative and superior-quality products to cater to the ever-growing demand for Insect snacks. The companies are implementing strategic activities such as acquisitions and mergers along with collaboration with companies in other industries to aid them in improving sustenance and maintaining their competitive advantage. Research Analyst at AMA estimates that United States Vendors will contribute to the maximum growth of Global Insects Snacks market throughout the predicted period.
ENTOSENSE, LLC (United States), Essento (Switzerland), JR Unique Foods Ltd., (Thailand), Eat Grub (United Kingdom), Jiminiís (France), Thailand Unique (Thailand), Entomo Farms (Canada), Chapul Cricket Protein (United States), Edible Inc. (Korea) and Cricket Flours (United States) are some of the key players that are part of study coverage. Additionally, the Vendors which are also part of the research are EXO (United States), Six Foods (United States), EAT CRAWLERS (New Zealand), InnovaFeed (France) and Crunchy Critters (United Kingdom).
The research aims to propose a patent-based approach in searching for potential technology partners as a supporting tool for enabling open innovation. The study also proposes a systematic searching process of technology partners as a preliminary step to select the emerging and key players that are involved in implementing market estimations. While patent analysis is employed to overcome the aforementioned data- and process-related limitations, as expenses occurred in that technology allows us to estimate the market size by evolving segments as target market from the total available market.
The study have segmented the market of Global Insects Snacks market by Type , by Application (Crisps, Small snacks (bites), Insectís bars, Pasta, Bread and Others) and Region with country level break-up.
On the basis of geography, the market of Insects Snacks has been segmented into South America (Brazil, Argentina, Rest of South America), Asia Pacific (China, Japan, India, South Korea, Australia, Rest of Asia-Pacific), Europe (Germany, France, Italy, United Kingdom, Netherlands, Rest of Europe), MEA (Middle East, Africa), North America (United States, Canada, Mexico). region held largest market share in the year 2021.
Market Leaders and their expansionary development strategiesIn March 2018, Aspire Food Group, which manufactures a variety of food products made from crickets, announced that it has acquired Exo, its protein bars made from crickets.
In September 2022, Essetia launched a highly nutritious and eco-friendly protein made from crickets. Crickets contain high-quality protein, vitamins, and an appropriate amount of all 9 essential amino acids critical for natural metabolism in the human body.
Influencing Trend:Rising demand for Omega-3 nutrient-dense snacks
Market Growth Drivers:Growing inclination of the population toward a health-conscious lifestyle
Challenges:Rising vegan food-eating population
Restraints:High cost of insects snacks
Opportunities:Insects are a good source of protein, hence their popularity is growing
Key Target AudienceInsects Snacks Manufacturers Suppliers and Distributors, Venture Capitalists and Private Equity Firms, New Entrants/Investors, Strategic Business Planners, Government Regulatory, Research Organizations and End-Use Industries