Representing over $120 Million invested. One farms mealworms, the other two farm Black Soldier Fly larvae.
There’s that Black Soldier Fly again. It is certainly making its mark on the feed market, and with all of the other possible applications via the oils and extracts and ice cream and other such things, it seems we are just beginning to tap into the benefits of bugs to people and planet.
And let me tell you, $120 million invested in just the top three insect start-ups barely scratches the surface of the total amount waiting to being spent world-wide on insect farming over the next decade.
There are a few obstacles to overcome, but we’ll get there.
The slug for the AgFunder News article says “Slow start despite demand”…there’s that big “D” again.
So we have a large demand for these insects, but a lack of supply…
Ding!
You can tell that the public is captivated by a particular food, when its mere existence on a menu makes the news. Insects are one such ingredient. Cricket ice cream, cricket granola, cricket meatballs, cricket bars, cricket pasta, cricket chips, silkworm chips mealworm burgers, and fruit fly oil have all made headlines all over the world. Insect farming is frequently touted as a more sustainable alternative to animal protein, particularly as the quality of the protein insects offer is actually quite high.
There’s a long road ahead to realize the possible environmental benefits that could come from insect consumption gaining marketshare in either human or animal nutrition. Technological advancements are necessary to scale the production of insects to a place where the critters could compete with existing sources of food, and there are a few insect farming startups claiming to have very high-tech operations using robotics, to create automated insect farming factories. These operations are capital intensive and will require significant investment before we can expect to see the widespread adoption of insect-based foods and feed.
There you go, baby. Guess who’s going to be there every step of the way? 🙂
