3. Insects as a feed for other creatures Insects have traditionally been an important protein source for cultures worldwide and continue to be in places like Asia, Central America, and South America. But other than Mexico, incorporating insects into North American diets doesn't seem to be working. This is not to say companies aren't trying to change our minds. For the past few years,
Don Bugito has been making cricket flour and snacks. And the UK's
Eat Grub touts bugs as the "original superfood."
Cute branding aside, I don't think that eating bugs is going to be trending in 2021 in the US. Instead, insects' real emerging opportunity is as a feed--for agriculture, aquaculture, and
even pets. In case you missed it, I interviewed the founder of
Oberland Agriscience on the
Evolve.ag podcast earlier this year, and wow, are they doing great things to save the world. They operate a closed-loop system that feeds food waste from local grocery stores to black soldier fly larvae. When the black soldier flies die, they get turned into a high-value feed for animals. They're breaking ground on a new, larger facility in 2021 that will be able to process 10,000 tons of organic waste and by-products per year.
The French company,
Ynsect, also makes pet food, fertilizer, and agricultural feed from insects. They recently
made headlines with their $373 million Series C funding. Like
South Africa's Agriprotein and
Seattle's Beta Hatch, similar companies are successfully expanding across the globe. The rise of bugs in the West is transitioning from a neat idea that people should eat to an all-natural feed for the food we eat and our pets.