Insects and Their Products as a Potential Source of Food, Feed and Economic Security: A Review

Due to many ways by which they are exploited, insects and their products could be a very big business. They are sold for agricultural protection, crop pollination, as well as human, livestock and pet nutrition. In addition, their products are sold for pharmaceuticals, health, and the implements for research, art works and a host of other uses. This review focused on commercialization of insects and their products with a view of sharing existing knowledge on global commerce of various insects and their products. Available literature revealed that there was an increase in demand for edible insects in the United States of America and prices were as high as $150 kg-1. Similarly, between 2010 and 2015, animal feed market in the United Kingdom grew at 3.5% annually and is currently worth £5 billion. Because of its scarcity, high demand, and recognition of its healing properties, royal jelly, one of the most sought after from bee products commands astronomical price internationally. In addition, no any other industry could generate high level of employment as sericulture, especially in rural areas where it takes 11 workdays to produce a Kg of raw silk. The contribution insects and their products can give to improve the economy of a developing country such as Nigeria is considerable, but underestimated or neglected. Insects are unlikely to make a major contribution in the near future, but the idea that they are potential source of overcoming the economic problems is not as farfetched as it seemed. Therefore, there is the need to adopt an added value approach to insects and their products and sensitize as well as encourage small-scale farmers, who are disadvantaged in international market participation due to lack of access to information, services, technology or the capacity, to produce larger volumes of quality insect products.