Insect protein players abuzz with excitement over Singapore regulatory nod

Makers of insect-based food hope that the regulatory approvals and affluent consumers can land them a market in Singapore, while the country’s reputation for food safety helps them reach other markets.

Although insect protein players acknowledged that consumers remain averse to eating bugs, these companies are banking on education and marketing to win them over.

After delays, Singapore’s regulatory framework for human consumption of insects – which allows companies to sell such products here – was released earlier this month.

The Singapore Food Agency (SFA) sought public feedback on the regulation of insects and insect products in December 2022. In April 2023, it announced that 16 species of insects – including crickets and silkworms – would be approved for human consumption in the second half of 2023.

Overseas players jump in

With the framework in place, some overseas insect protein players now plan to enter Singapore, aiming for consumers with higher purchasing power.

Japanese startup Morus intends to bring three silkworm-based products here – protein bars, protein powder and matcha powder. It set up a Singapore subsidiary in April.

Morus CEO Ryo Sato acknowledged that the company’s products are expensive.

“That’s why we’re targeting higher-end consumers in the market here,” he said.

These could include the environmentally conscious, health-focused individuals such as gym-goers, or people with diabetes or lactose intolerance.

Sato has already received some pre-orders for silkworm-based protein bars from Singapore consumers, and he hopes to use the city-state as a springboard to bring his products to Southeast Asia and Europe.

Morus CEO Ryo Sato intends to target higher-end consumers in Singapore with his silkworm-based protein bars, protein powder, and matcha powder. / Photo credit: Morus

On the B2B front, Vietnamese cricket protein company Cricket One has already seen interest from over 30 Singapore-based companies.

Half are ingredient-trading firms looking to distribute its products in the region, while the rest are startups and SMEs that wish to develop products together, said co-founder Bicky Nguyen.

Cricket One and sister retail brand Rec Rec have already signed agreements with two distributors in Singapore, intending to launch cricket protein concentrate, cricket protein powder, and cricket crackers there.

First movers

Education, marketing needed