Meticulous Research®, a global market research leader, has published a new report entitled 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.”

Projected Growth in the Crickets Industry

According to the report, the crickets market is anticipated to experience significant growth with a projected CAGR of 28.6% from 2022 to 2029, reaching a valuation of $3.50 billion. This growth is driven by increasing environmental concerns associated with livestock farming and the rising consumer demand for cricket-based foods due to their high nutritional content.

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Emerging Economies as Growth Drivers

Emerging markets, particularly in Southeast Asia, the Middle East, Africa, and Latin America, are expected to offer significant opportunities for expansion within the cricket farming industry. However, the report also notes the challenges presented by a lack of standardized regulations and psychological or ethical barriers related to the consumption of insects.

Product Segmentation in the Crickets Market

The global crickets market is segmented by product type into whole crickets, cricket powder, cricket meal, and other forms. Whole crickets are predicted to dominate in 2022, primarily due to their cost-efficiency, wide availability, and increased demand from food manufacturers using these insects in various processed foods.

Cricket Powder Expected to Grow Rapidly

While whole crickets hold a dominant position, the cricket powder segment is projected to grow at the fastest rate over the forecast period. Cricket powder's versatility and ease of incorporation into various food products make it a preferred choice for both human and animal nutrition applications.

Segmentation by Cricket Species

The species segment primarily includes house crickets (Acheta domesticus) and other species such as Gryllus. House crickets are forecasted to hold the largest market share due to their affordability, high protein content, and growing recognition as a sustainable food and feed option.

Diverse Applications of Crickets

The application of crickets spans various industries, including processed whole crickets, animal feed, protein supplements, protein bars, bakery goods, snacks, and beverages. The processed whole crickets segment leads the market due to the wide availability and high nutritional value of crickets, particularly in human consumption.

Fastest Growth in Cricket Protein Bars and Shakes

Cricket protein bars and shakes are poised to experience the highest growth, driven by the rising trend of health and fitness, increasing consumer awareness of high-protein diets, and a growing preference for ready-to-eat, insect-based food products.

End-Use Segmentation

The crickets market is also segmented based on end use, including human consumption, animal nutrition, and other uses. Human consumption is expected to lead the market, propelled by a global shift towards sustainable, eco-friendly protein sources and a growing awareness of the health benefits of crickets.

Regional Insights on the Crickets Market

The market is geographically segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Asia-Pacific is expected to capture the largest share of the market in 2022 due to its well-established cricket farming industry and the cultural acceptance of crickets as food. However, North America is projected to grow at the fastest rate, driven by the increasing popularity of insect-based foods and concerns about the environmental impact of traditional meat production.

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Key Players :

The key players operating in the global crickets market are KRECA (Part of Protifarm Holding NV) (Netherlands), Entomo Farms (copyright), 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).

Key questions answered in the report-

• Which are the high-growth market segments in terms of the 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?
• Who are the major players in various countries?
• How is the competitive landscape?
• What are the recent developments in the global crickets market?
• What are the different strategies adopted by the major players in the market?
• What are the key geographic trends, and which are the high-growth countries?
• Who are the local emerging players in the global crickets market, and how do they compete with the other players?

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