As the world faces an escalating protein crisis amid climate change, population growth, and resource scarcity, edible insects have emerged as a transformative solution for sustainable food and feed systems. With over 2000 known edible species, insects offer a nutrient-rich alternative to conventional livestock, providing protein levels between 30% and 85%, essential amino acids, beneficial fats, and bioavailable micronutrients often exceeding those found in meat or fish. Compared to traditional farming, edible insect production emits up to 100 times fewer greenhouse gases and requires 50%–90% less land and water, aligning closely with global circular bioeconomy goals. Economically, the global edible insect protein market was valued at USD 483.1 million in 2023 and is projected to reach USD 2 billion by 2030. Yet, large-scale adoption faces critical barriers, including cultural resistance, food safety concerns, and fragmented regulatory landscapes. Risks such as microbial contamination, allergenicity, and heavy metal accumulation demand stringent food safety protocols and harmonized international standards. Meanwhile, innovations in AI-assisted farming, CRISPR-based breeding, and automated processing are rapidly enhancing production efficiency, though further investment and validation are required. This review provides an overview of the nutritional, environmental, economic, technological, and safety dimensions of insects as food and feed. It also explores consumer perceptions and policy frameworks shaping adoption trends worldwide. By bridging current knowledge gaps and scaling inclusive innovation, edible insects hold immense promise for building resilient, ethical, and climate-smart food systems for the future.