Dateline Thailand…
The company’s name is Global Bugs and they will be marketing under the brand name Entopowder.
They plan to make $400,000 (USD) in sales of cricket products in 2018.
We will be interviewing co-founder of Global Bugs Peter Arndt in an upcoming podcast.
“We spent five years on research and development into how to feed crickets in a closed-end farm and on developing products from them, until we succeeded in developing our pilot project for the processing of whole crickets and cricket powder that enabled exports to begin this year,” she said. According to the company’s research, the market value of protein sourced from bugs will grow by up to 7 per cent this year, compared with last year. This would see the global market value for this niche sector reach about US$400 million this year, before hitting US$700 million in 2024. The main markets for insect-based protein are the Asia-Pacific, with a share of 33.7 per cent, the Middle East with 28.4 per cent, Latin America with 19.4 per cent, and Europe 12.3 per cent.
