Insect Snacks Market Share

The insect snack market is a new and viable option to the existing sources of animal proteins in the market and is capable of capturing the growing population with the need for eco-friendly and nutritious food products. In a rapidly changing environment, companies operating in the market of InsectSnacks have to utilize different market share positioning strategies to stand out from the competition and hence attain a competitive advantage.
Our major issue may be the fact that there is a tremendous growth in veganism. As the data presented by the Food Revolution Network indicates, since 2004, the number of Americans self-identifying as vegans has risen by an astounding 600%. This surge has allowed the vegan consumer numbers to represent 6% of all shoppers' population, which is a huge leap from the 1% they had back in 2014. The UK has also found itself on this curve with an eye-catching 350% boost in the number of vegans. This change of many people from meat to plant-based diets is just a small part of larger global shift towards plant-based meals and ethical shopping habits. While this trend brings a tough encounter for traditional industries like dairy or meat products that are dependent on animal raw materials, they must adapt their business strategies with time and develop new vegan-oriented products. With the movement spurred up, it becomes a big challenge for the businesses to reestablish their products appealing and communicating strategies that would target increasingly plant-centered market.
Product innovation that creates differentiation is the key tactic in the insect snacks market. Consumer companies are busy formulating new products, including insects-based snacks, with different edible insects, and trying flavors and textures. The company aims to attract consumers who want a wide variety of insect-based products such as protein packed snacks which have different flavors to the normal snacks.

The phenomenon of cost leadership is the second positioning strategy of the Insect Snacks market realized by market share. Others are in the business of perfecting the farming processes, coming up with more affordable insect product, with the aim of penetrating the market and offering the snack at a lower price. The strategy uses a wide group of consumers first and usually the ones who are looking for sustainable protein but still pay attention to prices.

Sustainability and health as leading contributing factors of Insect Snacks market. Companies point out insect protein being rich with essential amino acids, vitamins, and minerals, which is a great source of nutrients. In parallel, they put emphasis on the environmental benefits of the growing of insects, e.g. low carbon dioxide emissions and less use of land and water resources.