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 Insights

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).

Most nations, including Thailand, Mexico, China, and the Netherlands, now view insects as essential dietary components and functional food ingredients. Compared to many other foods, these nutrients from insects provide a more eco-friendly source of protein. One of the most popular edible insects consumed is the cricket. Protein, vitamins, amino acids, iron, and zinc are all abundant in them. Because of their high nutritional value, crickets are excellent for human food.

The need for meat has indirectly increased due to the growing population, yet hazardous gases produced during animal production have a significant negative influence on the environment, leading some individuals to switch to plant-based meat or meat with less of an ecological impact. Thus, crickets are viewed as a possible meat substitute and alternate source of protein. A rise in the usage of crickets as a protein source has prompted the incorporation of cricket protein into a variety of food items, including whole dried crickets as toppings as well as cricket pasta, burgers, chocolates, lollipops, and beverages.

US Crickets Market is poised to grow at a sustainable CAGR for the next forecast year.

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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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