Feasibility Analysis of Incorporating Insects into the Circular Economy

dc.contributor.authorMurphy, Leanne
dc.description.abstractInsects 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
dc.titleFeasibility Analysis of Incorporating Insects into the Circular Economy
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