Insect Protein – a small but growing market

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Source: NOSH (https://www.projectnosh.com/)

Insect protein is a small but growing market in the U.S., expected to exceed $50 million within the next five years, according to a report from Global Market Insights.

Last month, Aspire Food Group, a cricket farmer and insect protein ingredient supplier for food products, announced that it had acquired cricket-based protein bar Exo. Considered one of the best-known brands in the fairly new market for edible insects, Exo gives the supply company a recognizable addition.

Currently, Aspire’s 25,000-square-foot farm can raise more than 22 million crickets in a month — that translates to roughly 30,000-35,000 pounds (13,600 to 15,900 kg) of cricket protein powder annually — but that total output has already been spoken for over the next two years with current customers, excluding Exo. Aspire cofounder and CEO Mohammed Ashour said they are in the process of growing their capacity to meet that excess demand, especially since Exo has more demand for powder than Aketta, both in terms of what’s needed to actually manufacture the bars and in how many bars they’re selling.

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