Feasibility Analysis of Incorporating Insects into the Circular Economy

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Murphy, Leanne
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Insects became an innovative food source when in 2013 a report entitled "Edible
Insects: The Future Perspectives of Food and Nutrition Safety" was released by the
United Nations Food and Agriculture Organization. Due to the minimal necessity
for water and land, low ecological footprint, and high-quality protein provision,
insects have been highlighted as a potential food source. Insects can transform lowvalue waste streams into high-quality proteins. Despite increased interest from
entrepreneurs, there is little information on the economics of commercial-scale insect
farming. Farmers trying to create "mini livestock" enterprises, banks seeking to offer
finance, and governments considering policy interventions all need insight into the
potentially lucrative realities of insect farming. Recent peer reviewed papers were
examined. Limitations existed due to the scarcity of financial based papers related to
insect farming. Regulatory frameworks are evaluated and identified as a possible
stumbling block. The limited profitability and underlying economic data to produce
Hermetia illucens, Alphitobius diaperinus, Tenebrio molitor, and Acheta domesticus
are discussed in this thesis. An overview of the worldwide insect industry is provided
to aid data interpretation, with special focus paid to the present state of insect farming,
health and environmental advantages, barriers that exist, and the integration of edible
insects within a Circular Business Model. The major goal was to figure out how insect
farming might promote virtuous circular economic processes given their many
nutritional and environmental benefits and circular economic concepts. From a
circular economic standpoint, a circular business model strategy was presented to
cover the full insect-based feed and food supply chain. The results highlight that
insects are a feasible food and feed source, but certain pressing economic research
concerns may need to be tailored to boost cost effectiveness and economical
effectiveness from a circular economic viewpoint. Additional investigations on the
financial component of the insect production industry are required to enhance food
security for future generations, minimize waste, and offer a sustainable and nutritious
protein alternative to conventional sources