Global Crickets Market

Crickets Market Size, Share, Growth Analysis, By Product(Whole cricket, cricket powder, cricket meal), By End user(Human consumption, animal nutrition), By Application(Processed Whole Crickets, Protein Supplement Powder, Animal Feed, Pet Food Products), By Region - Industry Forecast 2024-2031


Report ID: SQMIG30B2019 | Region: Global | Published Date: April, 2024
Pages: 157 | Tables: 95 | Figures: 67

Crickets Market Dynamics

Crickets Market Driver

  • Crickets are High Source of Protein

Cricket products are well-known for providing more energy than traditional animal-based protein products. Cricket protein powder contains more essential amino acids than conventional meat products, suggesting that consuming cricket protein powder may allow for adequate amino acid intake. Vitamin B12, which is only found in animal-based foods, is abundant in house crickets. This vitamin is necessary for human health development in general.

Crickets Market Restraint

  • Lack of Standardized Regulatory Framework

Insect farming has long been hailed by environmentalists as a highly effective substitute for the production of beef, poultry, and swine. There are no legal restrictions on the production, selling, or consumption of insects in several nations, including Thailand and Vietnam. Regulators in western nations, however, pose a serious obstacle to the use of insects in food and feed. Western regulators disagree on whether insects should be covered by the current food laws or whether they should be treated as a unique food product that needs substantial testing. That’s why uncertain and non-standardized regulatory scenario for the use and consumption of insects as food and feed across regions is expected to hindering the growth of the crickets market.

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Crickets Market was valued at USD 2.3 billion in 2019, andit is expected to grow from USD 2.9 billion and reach a value of USD 22.13 billion by 2031, at a CAGR of 28.6% over the forecast period (2024-2031).

Crickets Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. '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.)', 'Bugs Asia Co. Ltd. (Thailand)', 'JR Unique Foods Ltd. (Thailand)', 'Protix B.V. (Netherlands)', 'Cricket Foods (U.K.)', 'Entogama (Lithuania).'

Crickets are High Source of Protein

Growing Health Awareness to Surge Market Growth

Asia Pacific region dominated the Crickets Marketing 2021. The substantial market share of this region can be attributed to the region’s long history of commercial cricket farming, particularly in Thailand, its abundance of different species of crickets and high production, its favourable perception of using crickets as food and feed, the lack of legal restrictions on this use, and the presence of significant market players.

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Global Crickets Market

Report ID: SQMIG30B2019

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