Insects are emerging as a viable alternative protein source due to shifting global consumption patterns and environmental concerns associated with meat production. Despite their nutritional benefits, insects from the orders Coleoptera, Hemiptera, and Lepidoptera are yet to be widely accepted as dietary ingredients globally. This review examines regions of the world where insects are traditionally consumed and the current trends in global consumption patterns. It presents the complex and essential nutrients inherent in the different edible insect orders, potential insect-derived products, their role in ensuring food security as well as food safety concerns. Historically, tropical and some temperate regions of Asia, Africa, North America (including Mexico), South America, and Oceania have incorporated insects into their diets. Edible insects are rich in complex and essential nutrients, including chitin, high quality amino acids, vitamins, minerals, fatty acids, phenolic compounds and flavonoids. Chitin, a dietary fibre in edible insects, offers antimicrobial, cholesterol-lowering properties and serves as an excipient in medicinal compounds. However, the varying amino acid profile of different insect species pose challenges in meeting the human dietary requirements. Nonetheless, innovative insect-derived food products such as meat substitutes and composite baked products are gaining acceptance, thereby positioning edible insects as a sustainable alternative protein source in diets.