The insect protein market could expand from $8bn at present to $1bn by 2030, according to a report by Barclays. The analysis claims that eating insects is set to become increasingly popular due to population growth, turning the market into an attractive investment opportunity for food companies and grocery chains. Sainsbury's, Loblaws and Amazon-owned Whole Foods already stock insect items. Nestle is researching the market and has launched a pet food made from crickets. PepsiCo will include insect snack brands in its accelerator initiative for emerging brands, and Tyson has included cricket protein in its 2019 food trends list.
The insect protein market could expand from $1bn at present to $8bn by 2030, according to a report by Barclays. The analysis claims that eating insects is set to become increasingly popular due to population growth, turning the market into an attractive investment opportunity for food companies and grocery chains. Sainsbury's, Loblaws and Amazon-owned Whole Foods already stock insect items. Nestle is researching the market and has launched a pet food made from crickets. PepsiCo will include insect snack brands in its accelerator initiative for emerging brands, and Tyson has included cricket protein in its 2019 food trends list.