This study covers the latent demand outlook for edible insects across the states and zip codes of the US. Latent demand (in millions of U.S. dollars), or potential industry earnings (P.I.E.) estimates are given across some 10,833 zip codes in the US. For each zip code in question, the percent share the zip code is of its state and of the US as a whole is reported. These comparative benchmarks allow the reader to quickly gauge a zip code vis-à-vis others. This statistical approach can prove very useful to distribution and/or sales force strategies. The use of econometric models which project fundamental economic dynamics within each state and zip code, latent demand estimates are created for edible insects. This report does not discuss the specific players available in the market serving the latent demand, nor specific details at the product level. The study also does not imagine short-term cyclicalities that might have an effect on realized sales. The study, subsequently, is strategic in nature, taking an aggregate and long-run view, without reference to the players or products involved.
In this report we define the sales of edible insects as including all commonly understood products falling within this broad category, without reference to product packaging, formulation, size, or form. Companies participating in this industry include Beetle Jelly, Bug Foundation, Crickster, Deli Bugs, Ltd., Eat Grub, Ltd., EddieBug, Ento TEch, ENTOTECH, Enviro Flight, Exo, Gran Mitla, Haocheng, Insectables, Insecteo, Kreca Ento – Food BV, Nordic Insect Economy, Proti – Farm, and Thailand Unique. Along with the sources indicated, additional information available to the public via news and/or press releases published by players in the industry was considered in defining and calibrating this category. All figures are in a common currency (U.S. dollars, millions) and aren’t adjusted for inflation (i.e., they are current values). Exchange rates used to convert to U.S. dollars are averages for the year in question. Future exchange rates are assumed to be constant someday at the current level (the average of the year of this publication’s release in 2022).
