Edible Insects Market to Reach $3.04 Billion by 2031, Growing at 16.90% CAGR

Whats Happening:

Verified Market Research has released a report on the Global Edible Insects Market, projecting significant growth from $0.87 billion in 2023 to $3.04 billion by 2031, with a CAGR of 16.90%. The market is driven by increasing demand for alternative protein sources, lower environmental impact, and growing government support. However, challenges include consumer acceptance issues, lack of regulatory clarity, and limited processing infrastructure.

Key Moves:

• Global Edible Insects Market projected to grow at 16.90% CAGR from 2024 to 2031

• Market value expected to increase from $0.87 billion in 2023 to $3.04 billion by 2031

• Rising demand for alternative protein sources and lower environmental footprints driving growth

By The Numbers:

• Market valued at $0.87 billion in 2023

• Projected to reach $3.04 billion by 2031

• 16.90% CAGR from 2024 to 2031

Key Quotes:

• "The Edible Insects Market is experiencing significant traction driven by rising demand for alternative protein sources, lower environmental footprints, and increasing government support."

• "With increasing awareness of the environmental and nutritional benefits of insect-based protein, the market is witnessing a surge in investments, especially in food, feed, and nutraceutical sectors."

Bottom Line:

The Global Edible Insects Market is poised for substantial growth, driven by the increasing demand for sustainable protein sources and environmental concerns. Despite challenges in consumer acceptance and regulatory clarity, the market presents significant opportunities for investors, food companies, and sustainability-focused organizations. As the market evolves, it could play a crucial role in addressing global food security and environmental sustainability challenges.

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