Black Soldier Fly Market Worth $3.96 Billion by 2033

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

Meticulous Research^® – 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 (Animal Feed, Agriculture, Pet Food, Others), and Geography– Global Forecast to 2033.”

According to this latest publication from Meticulous Research®, in terms of value, the global black soldier fly market is expected to grow 30.5% CAGR from 2022 to reach $3.96 billion by 2033. In terms of volume, this market is expected to grow 36.9% CAGR from 2022 to reach 8,003.7 thousand tons by 2033. This 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 provide significant opportunities for the growth of the black soldier fly market.

However, factors such as a non-standardized regulatory framework across Europe and limited acceptance & approvals for BSFL to be incorporated into the human diet hinder the growth of the overall black soldier fly market. Further, the availability of cheaper substitutes, the high cost of skilled labor, and the risk of disease transmission from BSF challenge the growth of this market.

The black soldier fly market is mainly segmented based on product, application, and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Based on product, the global black soldier fly market is segmented into protein meal, biofertilizer (frass), whole dried larvae, larvae oil, and others. In terms of value, the protein meals segment is estimated to account for the largest share of the global black soldier fly market in 2022. The large share of this market is mainly attributed to the increasing demand for protein meals from the animal feed industry, increased fish meal and soy meal prices, and government support and approval for an insect meal to be used in animal feed. Moreover, in terms of volume, the biofertilizers segment is expected to command the largest share of the global black soldier fly market in 2022.

Based on application, the global black soldier fly market is mainly segmented into animal feed, agriculture, pet food, and others. The animal feed segment is estimated to witness rapid growth during the forecast period. The large share of this market is mainly attributed to the growing demand for meat products and subsequent increase in the demand for protein-rich animal feed, rising soy meal prices, and government approval for the BSF to be used as a feed ingredient. However, this segment is also expected to grow at the highest CAGR during the forecast period due to the entry of leading animal feed companies in the edible insects’ space and the expected rise in the number of product approvals in upcoming years.

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Geographic Review:

Geographically, Europe is estimated to account for the largest share of the global black soldier fly market in 2022. The major share of this market is mainly attributed to the growing aquaculture industry, rising awareness of an alternative protein source for use in animal feed, and increased fish meal prices. This region is expected to grow at the fastest CAGR during the forecast period.

Key Players

The key players operating in the global black soldier fly market are Protix B.V. (Netherlands), Enterra Feed Corporation (Canada), InnovaFeed (France), EnviroFlight LLC (U.S.), Bioflytech (Spain), Entobel Holding PTE. Ltd. (Singapore), Entofood (Malaysia), Sfly (France), Hexafly (Ireland), F4F (Chile), Nutrition Technologies Group (Malaysia), nextProtein (France), and Protenga Pte Ltd (Singapore), among others.

Key questions answered in the report-

Which are the high-growth market segments in terms of the product, application, and countries/regions?
What is the historical market for black soldier flies across the globe?
What are the market forecasts and estimates for the period of 2022-2033?
What are the major drivers, restraints, and opportunities in the global black soldier fly market?
Who are the major players in the global market, and what share of the market do they hold?
Who are the major players in various countries, and what share of the market do they hold?
How is the competitive landscape?
What recent developments have taken place in the global black soldier fly market?
What are the different strategies adopted by the major players in this market?
What are the key geographic trends, and which are the high-growth countries?
Who are the local emerging players in the global black soldier fly market, and how do they compete with the other market players?