This thesis focuses itself on a case study application of circular economy theories and practices in the modern food industry, from a business perspective. The case refers to the novel business initiative set by the Italian Cricket Farm with Ecodiginsect, a solution for decentralized Tenebrio molitor farming in its acting regions. The case study analysis follows a prior analysis of the concepts and theories behind circular economies and circular business modeling, which have set up the grounds for the current understanding of circular systems and how businesses can design value-adding solutions with positive sustainability impact. The former conceptual analysis paves the way for the description of the circular food economy, where the insect farming industry is introduced as a potential sector for circular bioeconomy flows and its critical market, social and legal drivers are assessed.