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Redding, California - April 24, 2024

Black Soldier Fly Market to be Worth 3.96 Billion by 2033

Black Soldier Fly Market Size, Share, Forecast, & Trends Analysis by Product (Protein Meals, Whole Dried Larvae, Biofertilizers {Frass}, Larvae Oil, Others {Cocoons, Pupa}), Application (Aquafeed, Animal Feed, Agriculture, Pet Food), and Geography - Global Forecast to 2033

Meticulous Research^®—a leading global market research company, published a research report titled, ‘Black Soldier Fly Market by Product (Protein Meals, Whole Dried Larvae, Biofertilizers {Frass}, Larvae Oil, Others {Cocoons, Pupa}), Application (Aquafeed, Animal Feed, Agriculture, Pet Food), and Geography - Global Forecast to 2033.’

According to this latest publication from Meticulous Research^®, the black soldier fly market is projected to reach $3.96 billion by 2033, at a CAGR of 31% from 2024–2033, while in terms of volume, the market is expected to reach 8.23 million tons by 2033, at a CAGR of 40.4% from 2024 to 2033. The growth of the black soldier fly market is mainly driven by rising global meat demand, growing aquaculture industry, increasing demand from the animal feed industry for alternative proteins due to rising prices of soymeal and fishmeal, and increasing government support for the application of insect meal in livestock feed. In addition, expansions in developed and emerging economies are expected to offer significant opportunities for the growth of the black soldier fly market.

However, factors such as a non-standardized regulatory framework across the globe and limited acceptance & approvals for BSFL to be incorporated into the human diet hinder the overall black soldier fly market growth. Furthermore, the availability of economical substitutes, the high cost of skilled labor, and the risk of disease transmission from BSF are some of the challenges impeding the market’s growth.

Key Players

The key players operating in the global black soldier fly market are Protix B.V. (Netherlands), InnovaFeed SAS (France), EnviroFlight, LLC (U.S.), Nutrition Technologies Group (Singapore), Bioflytech S.L. (Spain), Entobel Holdings Pte. Ltd. (Singapore), Entofood Sdn Bhd (Malaysia), SFly Comgraf SAS (France), Hexafly (Ireland), F4F SpA (Chile), Protenga Pte Ltd (Singapore), and NextProtein (France).

The global black soldier fly market is segmented by product, application, and geography.

Based on product, the global black soldier fly market is segmented into protein meal, whole dried larvae, biofertilizers (frass), larvae oil, and other BSF products. In terms of value, in 2024, the protein meal segment is expected to account for the largest share of the global black soldier fly market. The large market share of this segment is mainly attributed to the increasing demand for BSF protein meal from the animal feed industry due to the rising awareness & demand for sustainable proteins, the rising prices of fish and soy meals, and supportive government initiatives aimed at promoting the use of insect meal in animal feed.

Based on application, the global black soldier fly market is segmented into aquafeed, animal feed, agriculture, pet food, and other applications. In 2024, the aquafeed segment is expected to account for the largest share of the global black soldier fly market. This segment's large market share is mainly attributed to the early regulatory approval of BSF for aquafeed applications, the growing adoption of BSF ingredients in fish feed, and the volatility observed in fish meal prices.

Based on geography, the global black soldier fly market is divided into five regions, namely, North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2024, Europe is expected to account for the largest share of the global black soldier fly market. Europe's significant market share can be attributed to the growing aquaculture industry, growing awareness of alternative protein sources for animal feed, and rising fish meal prices.

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Key Questions Answered in the Report-

What is the current revenue generated from the black soldier fly market globally?
At what rate is the demand for black soldier flies projected to grow for the next 7–9 years?
What are the historical market sizes and growth rates of the global black soldier fly market?
What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
Which segments in terms of product and application are expected to create major traction for the vendors in this market?
What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the vendors operating in the global black soldier fly market?
Who are the major players in the global black soldier fly market? What are their specific product offerings in this market?
What are the recent strategic developments in the global black soldier fly market? What are the impacts of these strategic developments on the market?

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Redding, California - April 24, 2024

Black Soldier Fly Market to be Worth 3.96 Billion by 2033

Black Soldier Fly Market Size, Share, Forecast, & Trends Analysis by Product (Protein Meals, Whole Dried Larvae, Biofertilizers {Frass}, Larvae Oil, Others {Cocoons, Pupa}), Application (Aquafeed, Animal Feed, Agriculture, Pet Food), and Geography - Global Forecast to 2033

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