Meticulous Research®, a leading global market research company, recently published a 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 report, the crickets market is projected to grow at a CAGR of 28.6% from 2022 to 2029, reaching $3.50 billion by 2029. The market’s growth is driven by increasing greenhouse gas emissions from livestock and poultry, rising demand for cricket-based food products, and the high nutritional value of crickets.
Emerging economies such as Southeast Asia, the Middle East & Africa, and Latin America present significant growth opportunities for cricket stakeholders due to favorable conditions for cricket farming. However, the market growth is hindered by the lack of standardized regulatory frameworks and psychological and ethical barriers to insects as food.
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Market Segmentation:
- By Product
- Whole Crickets: Expected to hold the largest market share in 2022 due to their easy availability, lower cost, and higher demand from food manufacturers.
- Cricket Powder: Projected to grow at the highest CAGR due to its ease of handling and wide range of applications in various food products.
- By Species
- House Cricket (Acheta domesticus): Expected to dominate the market in 2022, attributed to its high nutritional value, low cost, and rising acceptance and production.
- By Application
- Processed Whole Crickets: Anticipated to command the largest market share in 2022 due to wide availability, growing consumption, and high nutritional value.
- Cricket Protein Bars and Protein Shakes: Expected to grow at the fastest CAGR, driven by the demand for protein bars derived from edible insects, growth in health & fitness clubs, and increasing consumer preference for ready-to-eat food products.
- By End Use
- Human Consumption: Predicted to hold the largest share in 2022 due to the growing demand for innovative and sustainable food items, high nutritional value of crickets, demand for eco-friendly protein sources, and rising awareness about high protein foods.
Regional Analysis:
- Asia-Pacific: Expected to account for the largest market share in 2022 due to well-established commercial cricket farming, diverse cricket species, positive attitude towards crickets as food, absence of regulatory barriers, and presence of key market players.
- North America: Expected to record the highest CAGR, driven by the demand for environmentally friendly high protein diets, aversion to highly processed foods, increasing demand for insect-based foods, growing number of cricket-based food manufacturers, and rising environmental concerns about meat production.
Key Players:
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), Cricket Foods (U.K.), Entogama (Lithuania)
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Key Questions Addressed in the Report:
- Which are the high-growth market segments in terms of product, species, application, end use, and countries?
- What is the historical market for crickets across the globe?
- What are the market forecasts and estimates for 2022–2029?
- What are the major drivers, restraints, challenges, and opportunities in the global crickets market?
- Who are the major players in the global crickets market and various countries?
- What are the recent developments and strategies adopted by major players?
- What are the key geographic trends and high-growth countries?
- Who are the local emerging players in the global crickets market and how do they compete with other players?
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