Insect based food refers to the insect species which are being consumed by human as a whole or in the form of processed food like snacks, pasta, and burger patties. The process of eating the insects by animals or humans is known as entomophagy. Our teenagers or the young generation loves to eat sushi that is pure insect-based. Insect based food contains high protein, minerals, vitamins, and less carbohydrates, and it helps them to be healthy. One of the main reasons is insects contain more protein, but if they eat in processed form, insects are not visible, and they can easily consume and enjoy the high protein food.
Aspire Food Group (US), Entomo Farms (Canada), Protifarm (Netherlands), Jimini’s (UK), Chapul Cricket Protein (US), and Swarm Nutrition GmbH (Germany), AgriProtein Holdings Ltd. (South Africa), EnviroFlight LLC (US), Innovafeed (France), Ÿnsect (France), Hexafly (Ireland), and Protix (Netherlands).
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COVID-19 Scenario Analysis:
Due to COVID-19, the demand for insect-based food has declined because of viral infection caused by such products, meat, seafood. Consumers have perception in their mind that the virus is generated by eating some of the insect. So, the industry has to face downfall, and maybe after this COVID 19, the industry will see the upward surge.
Top Impacting Factors: Market Scenario Analysis, Trends, Drivers and Impact Analysis
Demand for insect-based food is increasing because consumers are getting aware of the benefits of eating insect-based food as people want to eat healthy food only, which contains more protein. As in few countries, people eat insects directly, but in some countries, they cannot consume it directly so, manufacturers are providing in the form of powder, roasted, and dried in edible insect food. It is low in calories and contain high protein. The case of the disease in livestock is increasing, so people want safe edible insect-based food. With the increase in population, consumers are more interested in eating animal protein such as chicken meat, pork, and beef, and which has increased the demand for insect-based food.
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Key Benefits of the Report:
This study presents the analytical depiction of the insect based food market along with the current trends and future estimations to determine the imminent investment pockets.
The report presents information related to key drivers, restraints, and opportunities along with detailed analysis of the insect based food market share.
The current market is quantitatively analyzed from 2020 to 2027 to highlight the insect-based food market growth scenario.
Porter’s five forces analysis illustrates the potency of buyers & suppliers in the market.
The report provides a detailed Insect based food market analysis based on competitive intensity and how the competition will take shape in coming years.
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