Meticulous Research®—a leading global market research company published a research report titled, “Crickets Market by Product (Whole Crickets, Cricket Powder), Species (House Cricket), Application (Processed Whole Crickets, Protein Supplement Powder, Cricket Protein Bars, Beverages), End Use (Human Nutrition, Animal Nutrition) — Global Forecasts to 2029”.
According to this latest publication from Meticulous Research®, the crickets market is expected to grow at a CAGR of 28.6% from 2022–2029 to reach $3.50 billion by 2029. This market is driven by the increasing emission of greenhouse gases from livestock and poultry, the rising demand for cricket-based food products, and the high nutritional value of crickets.
In addition, emerging economies such as Southeast Asia, the Middle East & Africa, and Latin America offer significant growth opportunities for crickets stakeholders as these regions are more suitable for cricket farming. However, the lack of a standardized regulatory framework and psychological and ethical barriers to insects as a food hinders the growth of the crickets market to a notable extent.
The global crickets market is segmented based on product, species, application, end use, and geography. The study also evaluates industry competitors and analyses the market at a country level.
Based on product, the crickets market is segmented into whole crickets, cricket powder, cricket meal, and other products. The whole crickets segment is estimated to account for the largest share of the global crickets market in 2022. The large share of this segment is attributed to the easy availability of whole crickets, the lower cost of these insects than processed forms, and the higher demand for whole insects from protein ingredients and food manufacturers for further processing and use in various applications.
However, the cricket powder segment is expected to grow at the highest CAGR during the forecast period. The high growth rate of this segment is mainly attributed to the ease of handling during the incorporation of various food products and the wide range of applications in various food and animal food products.
Based on species, the crickets market is mainly segmented into house cricket (Acheta domesticus) and other species (Gryllus and others). In 2022, the house crickets segment is expected to account for the largest share of the global crickets market. The large share of this segment is mainly attributed to the high nutritional value of house crickets in human and animal nutrition, low cost, and the rising acceptance, approval, and production for this cricket species as food and feed.
Based on application, the global crickets market is mainly divided into processed whole crickets, animal feed and pet food products, protein supplement powder, cricket protein bars and protein shakes, bakery products, snacks, beverages, and other applications. The processed whole crickets segment is expected to command the largest share of the global crickets market in 2022. The large share of this segment is mainly attributed to the wide availability of whole crickets, growing consumption of cricket-based foods, and the high nutritional value of crickets in human consumption.
However, the cricket protein bars and protein shakes segment is expected to grow at the fastest CAGR during the forecast period. The increasing demand for protein bars derived from edible insects, especially crickets, is mainly attributed to the rapid proliferation of health & fitness clubs, the growing awareness regarding healthy lifestyles, and the increasing consumer preference towards ready-to-eat food products.
Based on end use, the global crickets market is segmented into human consumption, animal nutrition, and other end uses. In 2022, the human consumption segment is expected to account for the largest share of the crickets market. The large share of this segment is attributed to the increasing demand for innovative & sustainable food items to meet the exponentially growing global population, the high nutritional value of crickets, the growing demand for eco-friendly alternative sources of protein, and the rising awareness about the benefits & need for high protein foods.
Based on geography, the crickets market is segmented into five major regions: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2022, Asia-Pacific is estimated to account for the largest share of the global crickets market. The large market share of this region is attributed to the well-established commercial cricket farming, especially in Thailand, the availability of diverse cricket species & huge production, the positive attitude towards crickets as food & feed, absence of regulatory barriers on using crickets as food & feed, and the presence of key market players.
However, the North American crickets market is expected to record the highest CAGR during the forecast period. The rapid market growth in this region is mainly attributed to the growing demand for environment-friendly high protein diets, aversion to highly processed foods, the increasing demand for insect-based foods, a growing number of crickets-based food product manufacturers, and the rising environmental concerns about meat production.
The key players operating in the global crickets market are KRECA (Part of Protifarm Holding NV) (Netherlands), Entomo Farms (Canada), Aspire Food Group (U.S.), All Things Bugs, LLC (U.S.), Armstrong Cricket Farm Georgia (U.S.), Cricket Lab Limited (U.K.), Global Bugs Asia Co. Ltd. (Thailand), JR Unique Foods Ltd. (Thailand), Protix B.V. (Netherlands), and Cricket Foods (U.K.), and Entogama (Lithuania).
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