The edible insects industry is gaining momentum in Thailand
More than 1,900 species of insects around the world are considered edible and are consumed in countries in Central America, Asia and Africa. Insects have long been grown for food in Thailand and are often served at street stalls.
Over the years, eating edible insects has grown in popularity in Thailand, even reaching upscale restaurants. More and more insect-based products are now being developed for human consumption, served in restaurants, sold in supermarkets and offered as part of in-flight meals. From edible canned insect food to dried packaged snacks, tourists and locals alike can sample a wide variety of insect-based products in Thailand.
Photo by Quang Nguyen Vinh/Pexels
US company Meticulous Market Research Inc expects the global edible insects industry to grow at a CAGR of 28.3% and reach $9.6 billion in revenue by 2030. Instability in food production due to climate change and raging wars are the major driving factors affecting the growth of the edible insects market.
Thailand-based edible insect companies also reported an increase in sales, particularly during the peak of the pandemic. Some companies, such as For example, frozen cricket maker Lan Farm Hug Co is continually expanding their farms and product varieties to meet the demands of the global market.
Despite its increasing popularity, the global edible insects market continues to be disrupted by the lack of standardized laws and regulations, as well as psychological and ethical barriers to insect consumption. However, increasing awareness of the nutritional and environmental value of insect consumption, particularly in emerging markets, can help keep the edible insect industry dynamic.
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Read more about farming and gardening at agribusiness.com.ph
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