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- We believe that the opportunity to rapidly expand the commercialisation of edible insects is there.
About
Project summary
Introduction and Background
- Edible insect products have been a feasibility topic that Wingfield Consultants Ltd have been researching for over a year. As a management consultancy company that specialises in supporting companies within the FMCG sector (predominantly food and drinks) we are always looking to define, determine, differentiate, and deliver innovative concepts and plans in partnership with clients (public, private, or third sector).
- We have already been in discussion with our research associates (MRQual) on the commercial possibilities of insects in the UK (sourcing, production, and application of insects in a number of different food categories, sub-categories, and products).
Key Benefits
The Opportunity
- We believe that the opportunity to rapidly expand the commercialisation of edible insects.
- We have assessed that the product innovation and market penetration in the UK is under-utilised.
- We believe that the edible insects category has the opportunity to support and drive:
- Healthy eating (insects are high in protein).
- Environment impact (less than other farmed animals).
Applications
Feasibility Study Details
Define
- Review the market and category landscapes for edible insects and associated/aligned industries (e.g. animal feed).
- Define the structure, size, and dynamics of the category in the UK.
- Review the data, research, and insights relating to the category in the UK.
Determine
- Insects have multiple applications in food, fertilisers, and animal feed.
- The proposed feasibility study's (market assessment) intention to review and recommend the opportunities for the application of insects in the food sector.
Differentiate
- Provide innovative brand, range, and products recommendations via the application of insects to the core category opportunities in the UK (e.g. healthy snacks and snacking alternatives).
Deliver
- Provide a clear, comprehensive, and compelling feasibility study on the commercial application of insects in the food sector.
- Provide clear opportunities based on market analysis, competitor analysis, future forecasting, competitor benchmarking, core 'winning strategies' (what), 'brilliant basics' of product, price, promotion, people, and place (how), mobilisation plans, and metric scorecards and dashboards.