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Black Soldier Fly Oil Market

Release date:

Apr-2022

Region:

global

Research Code:MRFB -104584

Sku:MRFB -104584

Black Soldier Fly Oil Market by Application (Animal Feed, Pet Food, Cosmetics, Others), End Use (Animal Nutrition, Human Consumption, Others) - Global Forecast to 2029

  • Report ID: MRFB -104584
  • Pages: 130
  • Apr-2022
  • Formats*: PDF
  • Category: Food and Beverages
  • Delivery: 24 to 72 Hours
COVID-19

This report provides pre & post COVID-19 market estimates.

The Black Soldier Fly (BSF) Oil Market is expected to grow at a CAGR of 21.1% from 2022–2029 to reach $72 million by 2029. The growth of this market is driven by the increasing demand from the animal feed industry and the growing expansions in emerging & developed economies. However, psychological and ethical barriers to consuming black soldier fly oil as food are expected to hinder the growth of this market. Additionally, the supply and demand gap of black soldier fly oil for biodiesel production and pricing competition from alternative ingredients in the cosmetic industry are some of the challenges for the growth of this market.

Impact of COVID-19 on the Black Soldier Fly Oil Market

The outbreak of the COVID-19 pandemic has had a significant impact on public health and all stages of the supply chain and various industries. Since the COVID-19 outbreak in December 2019, the disease has spread worldwide, with the World Health Organization declaring it a public health emergency. The global impacts of the COVID-19 significantly affected the black soldier fly oil market in 2020.

As the governments of various countries across the globe implemented nationwide lockdowns and stay-at-home orders, many farmers resorted to panic-buying of animal feed in anticipation of potential shortages. Several concerns, such as truck shortages, reduced deliveries, and employees contracting COVID-19, compelled farmers to stock their animal feed supplies. In addition, truncated air freight capacity, port congestion, roadblocks, and logistic disruptions in Southeast Asia escalated due to governments' strict restrictions and measures to curb the spread of the outbreak. Furthermore, the consumption of fish, poultry, pork, and beef is expected to decline in Southeast Asian economies through the second quarter of 2021. Thus, the decline in fish consumption, poultry, pork, and beef is expected to decrease black soldier fly oil demand in the market.

The nationwide lockdowns to curb the spread of the outbreak impacted the movement of vehicles carrying livestock, feed, and feed ingredients. During the pandemic, farmers were concerned about slowing down or stopping slaughterhouse operations; hence, they kept their animals longer due to lower demand, requiring them to use more feed than usual. Purina Animal Nutrition LLC, which uses black soldier fly as a feed ingredient, witnessed a slight increase in its livestock business sales. In addition, Cargill reported that its global feed sales volume increased by 10% or more in March 2020. Thus, the rising preference for alternative ingredients over other animal-based ingredients and immunity boosters after the outbreak of the COVID-19 pandemic has created a new wave of interest in black soldier fly oil.

Black Soldier Fly Oil Market

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Expansions in Emerging & Developed Economies Drive the Growth of the Black Soldier Fly Oil Market

Over the recent years, there has been a significant increase in the demand for high-quality meat in emerging economies, such as Southeast Asia, the Middle East & Africa, and Latin America, mainly attributed to the population growth in Asia and Africa and increasing urbanization. According to FAO, the global meat production is projected to expand to around 48 metric tons by 2025, predominantly in developing countries, accounting for approximately 73% of the total production. Thus, to fulfill this demand, meat producers are continuously focusing on improving the meat's production and quality with the help of high-quality ingredient-containing feed. Such factors are leading meat producers towards the adoption of BSF-derived oil. Hence, the high demand for BSF feed-in emerging economies encourages BSF oil producers to invest in developing countries.

In addition, the significant growth opportunities presented by emerging economies have resulted in major market players expanding in this market. For instance, in June 2019, Protix (Netherlands) opened the largest insect farm in Bergen, Netherlands, to build insect industry leadership. Furthermore, in March 2021, Nutrition Technologies opened an insect protein factory in Johor, Malaysia.

Thus, growing expansions in the emerging and developed economies are expected to provide lucrative growth opportunities for black soldier fly oil stakeholders.

Key Findings in the Global Black Soldier Fly Oil Market Study:

Animal Feed Segment Dominated the Black Soldier Fly Oil Market in 2021

Based on application, the black soldier fly oil market is segmented into animal feed, pet food, cosmetics, and others. In 2021, the animal feed segment accounted for the largest share of the global black soldier fly oil market. The large market share of this segment is attributed to early regulatory approval of black soldier fly oil for use in animal feed and the increasing demand for black soldier fly oil as an alternative to fishmeal and fish oil in animal feed due to the volatile prices of fish oil. However, the pet food segment is expected to grow at the fastest CAGR during the forecast period. The rapid growth of this segment is driven by the growing interest of leading pet food companies in the edible insect space, the increasing number of product approvals, and the rising number of customers willing to provide high-quality food to their pets.

Animal Nutrition Segment Dominated the Black Soldier Fly Oil Market in 2021

Based on end use, the black soldier fly oil market is segmented into animal consumption, human consumption, and others. In 2021, the animal nutrition segment accounted for the largest share of the black soldier fly oil market. The large share of this segment is attributed to the increasing demand for meat products and innovative & sustainable feed ingredients. However, the human nutrition segment is expected to grow at the fastest CAGR during the forecast period due to the rising demand for insect-based foods to feed the growing global population, the high nutritional value of black soldier fly oil in human nutrition, and the growing demand for environment-friendly alternative sources of edible oil.

Europe Dominated the Black Soldier Fly Oil Market in 2022

Based on geography, the black soldier fly oil market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2021, Europe accounted for the major share of the black soldier fly oil market. The large market share of Europe is attributed to factors such as the high demand for animal feed and pet food products, the large supply of pre-consumer food waste from the agriculture and food & beverage sectors, government approvals for black soldier fly products to be used in animal feed and pet food, increased focus on product innovation in the cosmetics and food industries, and the presence of supportive policies for black soldier fly oil farming. This regional market is also expected to witness significant growth during the forecast period.

Key Players

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

Scope of the report

Black Soldier Fly Oil Market, by Application

  • Animal Feed
  • Pet Food
  • Cosmetics
  • Others

Black Soldier Fly Oil Market, by End Use

  • Animal Nutrition
  • Human Consumption
  • Others

Black Soldier Fly Oil Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Netherlands
    • France
    • U.K.
    • Germany
    • Finland
    • Denmark
    • Belgium
    • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
    • China
    • South Korea
    • Japan
    • Malaysia
    • Vietnam
    • Thailand
    • Rest of Asia-Pacific (RoAPAC)
  • Latin America
  • Middle East & Africa

Key Questions Answered in the Report-

Which are the High-growth Countries/Regions in the Market?

Europe is expected to witness significant growth during the forecast period. The growth of this regional market is driven by the high demand for animal feed and pet food products, the large supply of pre-consumer food waste from agriculture and food and beverage sectors, government approvals for BSF products to be used in animal feed and pet food, increased focus on product innovation in cosmetics and food industry, and the presence of supportive policies for black soldier fly oil farming.

What is the value of revenue generated from black soldier fly oil sales across the globe? At what rate is their demand expected to grow for the next 5–7 years?

The black soldier fly oil market is expected to grow at a CAGR of 21.1% from 2022–2029 to reach $72 million by 2029.

Which application segment is projected to create more traction in the black soldier fly oil market?

The pet food segment is expected to offer more traction in the black soldier fly oil market. This segment is expected to grow at the highest CAGR during the forecast period of 2022–2029. The rapid growth of this segment is driven by the growing interest of leading pet food companies in the edible insect space, the increasing number of product approvals, and the rising number of customers willing to provide high-quality food to their pets

What are the key factors supporting the growth of this market? What are the major challenges for existing market players and new entrants in the black soldier fly oil market?

This market is driven by increasing demand from the animal feed industry and growing expansions in emerging & developed economies. However, psychological and ethical barriers to consuming black soldier fly oil as food are expected to hinder the growth of this market to a notable extent. Additionally, the supply and demand gap of black soldier fly oil for biodiesel production and pricing competition from alternative ingredients in the cosmetic industry are major challenges for the growth of this market.

Who are the major players operating in the black soldier fly oil market?

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

1.    Introduction
       1.1.    Market Definition
       1.1.    Market Ecosystem
       1.2.    Currency
       1.3.    Key Stakeholders

2.    Research Methodology
       2.1.    Research Approach
       2.2.    Data Collection & Validation
                 2.2.1.    Secondary Research
                 2.2.2.    Primary Research
       2.3.    Market Assessment
                 2.3.1.   Market Size Estimation
                             2.3.1.1.    Bottom-up Approach
                             2.3.1.2.    Top-down Approach
                             2.3.1.3.    Growth Forecast
       2.4.    Assumptions for the Study
       2.5.    Limitations of the Study

3.    Executive Summary
       3.1.    Introduction
       3.2.    Segment Analysis
                 3.2.1.    Black Soldier Fly Oil Market: Application Analysis
                 3.2.2.    Black Soldier Fly Oil Market: End Use Analysis
       3.3.    Black Soldier Fly Oil Market: Regional Analysis
       3.4.    Competitive Landscape & Market Competitors

4.    Market Insights
       4.1.    Introduction
       4.2.    Drivers
                 4.2.1.    Increasing Demand from Animal Feed Industry 
                 4.2.2.    Growing Expansions in Emerging & Developed Economies
       4.3.    Restraints
                 4.3.1.    Psychological and Ethical Barriers to Consuming BSF Oil as Food 
       4.4.    Challenges
                 4.4.1.    Supply and Demand Gap of BSF Oil for Biodiesel Production 
                 4.4.2.    Pricing Competition from Alternative Ingredients in the Cosmetic Industry 
       4.5.    Regulatory Analysis
                 4.5.1.    U.S.
                 4.5.2.    Europe
                 4.5.3.    Japan
                 4.5.4.    China
       4.6.    Cost Analysis
                 4.6.1.   BSF Products Production Cost Assessment
                             4.6.1.1.    Production Cost
                             4.6.1.2.    Equipment Maintenance
                 4.6.2.   Cost of BSF Oil Vs.. Synthetic/Natural Equivalents
       4.7.    BSF Oil Production Assessment
                 4.7.1.    Organic Waste Required Vs. BSF Oil Yield Ratio (Tons/Ton)
                 4.7.2.    BSF Oil Yield Vs. Land Area Ratio (Tons/Hectare)
       4.8.    Key BSF Oil Manufacturing Companies and their Production Capacities (Tons/Year)
       4.9.    Challenges With the BSF Insect Oil Business Model
                 4.9.1.    Lower Quality Products
                 4.9.2.    High Cost of Skilled Labor
                 4.9.3.    Ambiguous Regulatory Legislation
       4.10.    Characteristics of the Oil Produced- Saturated Vs. Unsaturated, Linear Vs. Branched Chain
       4.11.    Application Areas of BSF Products (Other than Insect Oil), by Product
                   4.11.1.    Protein Meal
                   4.11.2.    Chitin
                   4.11.3.    Fertilizer
                   4.11.4.    Others
       4.12.    Insights on Animal Rights Issues Assessment for Insects
       4.13.    Insights on Risk of Disease Transmission from BSF

5.    Life Cycle Analysis
        5.1.    BSF Rearing & Processing (Life Cycle Analysis) Vs.. Palm & Other Crop Oil Productions
                  5.1.1.    BSF Rearing & Processing
                  5.1.2.    Palm & Other Crop Oil Productions

6.    Impact of COVID-19 On the Black Soldier Fly Oil Market

7.    Black Soldier Fly Oil Market, by Application
       7.1.    Introduction
       7.2.    Animal Feed
       7.3.    Pet Food
       7.4.    Cosmetics
       7.5.    Others

8.    Black Soldier Fly Oil Market, by End Use
       8.1.    Introduction
       8.2.    Animal Nutrition
       8.3.    Human Consumption
       8.5.    Others

9.    Black Soldier Fly Oil Market, by Geography
       9.1.    North America
                 9.1.1.    U.S.
                 9.1.2.    Canada
       9.2.    Europe
                 9.2.1.    Netherlands 
                 9.2.2.    France
                 9.2.3.    U.K.
                 9.2.4.    Germany
                 9.2.5.    Finland
                 9.2.6.    Denmark
                 9.2.7.    Belgium
                 9.2.8.    Rest of Europe (RoE)
       9.3.    Asia-Pacific (APAC)
                 9.3.1.    China
                 9.3.2.    South Korea
                 9.3.3.    Japan
                 9.3.4.    Malaysia
                 9.3.5.    Vietnam
                 9.3.6.    Thailand
                 9.3.7.    Rest of Asia-Pacific (RoAPAC)
       9.4.    Latin America
       9.5.    Middle East & Africa

10.    Competitive Landscape
         10.1.    Introduction
         10.2.    Key Growth Strategies 
         10.3.    Competitive Benchmarking

11.    Company Profiles (Includes Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
         11.1.    Protix B.V. 
         11.2.    Enterra Feed Corporation
         11.3.    InnovaFeed
         11.4.    Enviroflight LLC
         11.5.    Nutrition Technologies Group
         11.6.    Bioflytech
         11.7.    Entobel Holding PTE. Ltd.
         11.8.    Entofood Sdn Bhd
         11.9.    SFly
         11.10.  Hexafly
         11.11.  F4F
         11.12.  Protenga Pte Ltd

12.    Appendix
         12.1.  Questionnaire 
         12.2.  Available Customization 

List of Tables

Table 1    Black Soldier Fly Oil Market Drivers: Impact Analysis (2021–2028) 
Table 2    Black Soldier Fly Oil Market Restraints: Impact Analysis (2021–2028) 
Table 3    Average Cost of Daily Production for BSF Products, by Farm Capacity, by Region, 2021 (USD)
Table 4    Average Cost of Equipment Maintenance of BSF Oil, by Farm Capacity, by Region, 2021 (USD)
Table 5    Cost of BSF Oil Vs. Synthetic/Natural Equivalents, 2020–2021 (USD/Ton)
Table 6    Average Selling Prices of BSF Oil, by Country/Region, 2018–2030 (USD/Ton)
Table 7    Tons of BSF Oil Production by BSF Farms Per Capacity of Organic Waste Processing Per Day (In Ton)
Table 8    Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 9    Black Soldier Fly Oil Market Size for Animal Feed, by Country/Region, 2019–2028 (USD Thousand)
Table 10    Black Soldier Fly Oil Market Size for Pet Food, by Country/Region, 2019–2028 (USD Thousand)
Table 11    Black Soldier Fly Oil Market Size for Cosmetics, by Country/Region, 2019–2028 (USD Thousand)
Table 12    Black Soldier Fly Oil Market Size for Other Applications, by Country/Region, 2019–2028 (USD Thousand)
Table 13    Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 14    Black Soldier Fly Oil Market Size for Animal Nutrition, by Country/Region, 2019–2028 (USD Thousand)
Table 15    Black Soldier Fly Oil Market Size for Human Consumption, by Country/Region, 2019–2028 (USD Thousand)
Table 16    Black Soldier Fly Oil Market Size for Other End Uses, by Country/Region, 2019–2028 (USD Thousand)
Table 17    Black Soldier Fly Oil Market Size, by Country/Region, 2019–2028 (USD Thousand)
Table 18    North America: Black Soldier Fly Oil Market Size, by Country, 2019–2028 (USD Thousand)
Table 19    North America: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 20    North America: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 21    U.S.: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 22    U.S.: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 23    Canada: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 24    Canada: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 25    Europe: Black Soldier Fly Oil Market Size, by Country, 2019–2028 (USD Thousand)
Table 26    Europe: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 27    Europe: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 28    Netherlands: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 29    Netherlands: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 30    France: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 31    France: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 32    U.K.: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 33    U.K.: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 34    Germany: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 35    Germany: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 36    Finland: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 37    Finland: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 38    Denmark: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 39    Denmark: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 40    Belgium: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 41    Belgium: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 42    Rest of Europe: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 43    Rest of Europe: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 44    Asia-Pacific: Black Soldier Fly Oil Market Size, by Country, 2019–2028 (USD Thousand)
Table 45    Asia-Pacific: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 46    Asia-Pacific: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 47    China: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 48    China: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 49    South Korea: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 50    South Korea: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 51    Japan: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 52    Japan: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 53    Malaysia: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 54    Malaysia: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 55    Vietnam: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 56    Vietnam: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 57    Thailand: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 58    Thailand: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 59    Rest of Asia-Pacific: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 60    Rest of Asia-Pacific: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 61    Latin America: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 62    Latin America: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 63    Middle East & Africa: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 64    Middle East & Africa: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
    
List of Figures

Figure 1    Market Ecosystem
Figure 2    Research Process
Figure 3    Key Secondary Sources
Figure 4    Primary Research Techniques
Figure 5    Key Executives Interviewed
Figure 6    Breakdown of Primary Interviews (Supply-side & Demand-side)
Figure 7    Market Sizing and Growth Forecast Approach
Figure 8    Pet Food to Witness Significant Growth in the Black Soldier Fly Oil Market during 2021–2028
Figure 9    Human Consumption to Witness Significant Growth in the Black Soldier Fly Oil Market during 2021–2028
Figure 10    Black Soldier Fly Oil Market Scenario, by Geography, 2021
Figure 11    Market Dynamics 
Figure 12    Regulation Status for the use of BSF Insect Oil in Animal Feed and Other Emerging Applications, by Country/Region
Figure 13    Cost of BSF Oil Vs. Synthetic/Natural Equivalents, 2020–2021 (USD/Ton)
Figure 14    Percentage of Saturated and Unsaturated Fatty Acid in Larvae, in Relation to Larval Weight.
Figure 15    BSF Oil Saturated Vs. Unsaturated Fatty Acid Content (In Percentage)
Figure 16    Application Areas of BSF, by Product
Figure 17    Steps Involved in BSF Rearing & Processing
Figure 18    Life Cycle Analysis of the BSF
Figure 19    Processing of BSF Insect Oil
Figure 20    Oil Palm Tree Life Cycle Analysis
Figure 21    Animal Welfare Standards in the Europe, 2019
Figure 22    Black Soldier Fly Oil Market Size, by Application, 2021–2028 (USD Thousand)
Figure 23    Black Soldier Fly Oil Market Size, by End Use, 2021–2028 (USD Thousand)
Figure 24    Black Soldier Fly Oil Market Size, by Region, 2021–2028 (USD Thousand)
Figure 25    Key Growth Strategies Adopted by Leading Players, 2019–2022
Figure 26    Black Soldier Fly Oil Market: Competitive Benchmarking, by Application 

 
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Related Research

The Black Soldier Fly (BSF) Oil Market is expected to grow at a CAGR of 21.1% from 2022–2029 to reach $72 million by 2029. The growth of this market is driven by the increasing demand from the animal feed industry and the growing expansions in emerging & developed economies. However, psychological and ethical barriers to consuming black soldier fly oil as food are expected to hinder the growth of this market. Additionally, the supply and demand gap of black soldier fly oil for biodiesel production and pricing competition from alternative ingredients in the cosmetic industry are some of the challenges for the growth of this market.

Impact of COVID-19 on the Black Soldier Fly Oil Market

The outbreak of the COVID-19 pandemic has had a significant impact on public health and all stages of the supply chain and various industries. Since the COVID-19 outbreak in December 2019, the disease has spread worldwide, with the World Health Organization declaring it a public health emergency. The global impacts of the COVID-19 significantly affected the black soldier fly oil market in 2020.

As the governments of various countries across the globe implemented nationwide lockdowns and stay-at-home orders, many farmers resorted to panic-buying of animal feed in anticipation of potential shortages. Several concerns, such as truck shortages, reduced deliveries, and employees contracting COVID-19, compelled farmers to stock their animal feed supplies. In addition, truncated air freight capacity, port congestion, roadblocks, and logistic disruptions in Southeast Asia escalated due to governments' strict restrictions and measures to curb the spread of the outbreak. Furthermore, the consumption of fish, poultry, pork, and beef is expected to decline in Southeast Asian economies through the second quarter of 2021. Thus, the decline in fish consumption, poultry, pork, and beef is expected to decrease black soldier fly oil demand in the market.

The nationwide lockdowns to curb the spread of the outbreak impacted the movement of vehicles carrying livestock, feed, and feed ingredients. During the pandemic, farmers were concerned about slowing down or stopping slaughterhouse operations; hence, they kept their animals longer due to lower demand, requiring them to use more feed than usual. Purina Animal Nutrition LLC, which uses black soldier fly as a feed ingredient, witnessed a slight increase in its livestock business sales. In addition, Cargill reported that its global feed sales volume increased by 10% or more in March 2020. Thus, the rising preference for alternative ingredients over other animal-based ingredients and immunity boosters after the outbreak of the COVID-19 pandemic has created a new wave of interest in black soldier fly oil.

Black Soldier Fly Oil Market

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Expansions in Emerging & Developed Economies Drive the Growth of the Black Soldier Fly Oil Market

Over the recent years, there has been a significant increase in the demand for high-quality meat in emerging economies, such as Southeast Asia, the Middle East & Africa, and Latin America, mainly attributed to the population growth in Asia and Africa and increasing urbanization. According to FAO, the global meat production is projected to expand to around 48 metric tons by 2025, predominantly in developing countries, accounting for approximately 73% of the total production. Thus, to fulfill this demand, meat producers are continuously focusing on improving the meat's production and quality with the help of high-quality ingredient-containing feed. Such factors are leading meat producers towards the adoption of BSF-derived oil. Hence, the high demand for BSF feed-in emerging economies encourages BSF oil producers to invest in developing countries.

In addition, the significant growth opportunities presented by emerging economies have resulted in major market players expanding in this market. For instance, in June 2019, Protix (Netherlands) opened the largest insect farm in Bergen, Netherlands, to build insect industry leadership. Furthermore, in March 2021, Nutrition Technologies opened an insect protein factory in Johor, Malaysia.

Thus, growing expansions in the emerging and developed economies are expected to provide lucrative growth opportunities for black soldier fly oil stakeholders.

Key Findings in the Global Black Soldier Fly Oil Market Study:

Animal Feed Segment Dominated the Black Soldier Fly Oil Market in 2021

Based on application, the black soldier fly oil market is segmented into animal feed, pet food, cosmetics, and others. In 2021, the animal feed segment accounted for the largest share of the global black soldier fly oil market. The large market share of this segment is attributed to early regulatory approval of black soldier fly oil for use in animal feed and the increasing demand for black soldier fly oil as an alternative to fishmeal and fish oil in animal feed due to the volatile prices of fish oil. However, the pet food segment is expected to grow at the fastest CAGR during the forecast period. The rapid growth of this segment is driven by the growing interest of leading pet food companies in the edible insect space, the increasing number of product approvals, and the rising number of customers willing to provide high-quality food to their pets.

Animal Nutrition Segment Dominated the Black Soldier Fly Oil Market in 2021

Based on end use, the black soldier fly oil market is segmented into animal consumption, human consumption, and others. In 2021, the animal nutrition segment accounted for the largest share of the black soldier fly oil market. The large share of this segment is attributed to the increasing demand for meat products and innovative & sustainable feed ingredients. However, the human nutrition segment is expected to grow at the fastest CAGR during the forecast period due to the rising demand for insect-based foods to feed the growing global population, the high nutritional value of black soldier fly oil in human nutrition, and the growing demand for environment-friendly alternative sources of edible oil.

Europe Dominated the Black Soldier Fly Oil Market in 2022

Based on geography, the black soldier fly oil market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. In 2021, Europe accounted for the major share of the black soldier fly oil market. The large market share of Europe is attributed to factors such as the high demand for animal feed and pet food products, the large supply of pre-consumer food waste from the agriculture and food & beverage sectors, government approvals for black soldier fly products to be used in animal feed and pet food, increased focus on product innovation in the cosmetics and food industries, and the presence of supportive policies for black soldier fly oil farming. This regional market is also expected to witness significant growth during the forecast period.

Key Players

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

Scope of the report

Black Soldier Fly Oil Market, by Application

  • Animal Feed
  • Pet Food
  • Cosmetics
  • Others

Black Soldier Fly Oil Market, by End Use

  • Animal Nutrition
  • Human Consumption
  • Others

Black Soldier Fly Oil Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Netherlands
    • France
    • U.K.
    • Germany
    • Finland
    • Denmark
    • Belgium
    • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
    • China
    • South Korea
    • Japan
    • Malaysia
    • Vietnam
    • Thailand
    • Rest of Asia-Pacific (RoAPAC)
  • Latin America
  • Middle East & Africa

Key Questions Answered in the Report-

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1.    Introduction
       1.1.    Market Definition
       1.1.    Market Ecosystem
       1.2.    Currency
       1.3.    Key Stakeholders

2.    Research Methodology
       2.1.    Research Approach
       2.2.    Data Collection & Validation
                 2.2.1.    Secondary Research
                 2.2.2.    Primary Research
       2.3.    Market Assessment
                 2.3.1.   Market Size Estimation
                             2.3.1.1.    Bottom-up Approach
                             2.3.1.2.    Top-down Approach
                             2.3.1.3.    Growth Forecast
       2.4.    Assumptions for the Study
       2.5.    Limitations of the Study

3.    Executive Summary
       3.1.    Introduction
       3.2.    Segment Analysis
                 3.2.1.    Black Soldier Fly Oil Market: Application Analysis
                 3.2.2.    Black Soldier Fly Oil Market: End Use Analysis
       3.3.    Black Soldier Fly Oil Market: Regional Analysis
       3.4.    Competitive Landscape & Market Competitors

4.    Market Insights
       4.1.    Introduction
       4.2.    Drivers
                 4.2.1.    Increasing Demand from Animal Feed Industry 
                 4.2.2.    Growing Expansions in Emerging & Developed Economies
       4.3.    Restraints
                 4.3.1.    Psychological and Ethical Barriers to Consuming BSF Oil as Food 
       4.4.    Challenges
                 4.4.1.    Supply and Demand Gap of BSF Oil for Biodiesel Production 
                 4.4.2.    Pricing Competition from Alternative Ingredients in the Cosmetic Industry 
       4.5.    Regulatory Analysis
                 4.5.1.    U.S.
                 4.5.2.    Europe
                 4.5.3.    Japan
                 4.5.4.    China
       4.6.    Cost Analysis
                 4.6.1.   BSF Products Production Cost Assessment
                             4.6.1.1.    Production Cost
                             4.6.1.2.    Equipment Maintenance
                 4.6.2.   Cost of BSF Oil Vs.. Synthetic/Natural Equivalents
       4.7.    BSF Oil Production Assessment
                 4.7.1.    Organic Waste Required Vs. BSF Oil Yield Ratio (Tons/Ton)
                 4.7.2.    BSF Oil Yield Vs. Land Area Ratio (Tons/Hectare)
       4.8.    Key BSF Oil Manufacturing Companies and their Production Capacities (Tons/Year)
       4.9.    Challenges With the BSF Insect Oil Business Model
                 4.9.1.    Lower Quality Products
                 4.9.2.    High Cost of Skilled Labor
                 4.9.3.    Ambiguous Regulatory Legislation
       4.10.    Characteristics of the Oil Produced- Saturated Vs. Unsaturated, Linear Vs. Branched Chain
       4.11.    Application Areas of BSF Products (Other than Insect Oil), by Product
                   4.11.1.    Protein Meal
                   4.11.2.    Chitin
                   4.11.3.    Fertilizer
                   4.11.4.    Others
       4.12.    Insights on Animal Rights Issues Assessment for Insects
       4.13.    Insights on Risk of Disease Transmission from BSF

5.    Life Cycle Analysis
        5.1.    BSF Rearing & Processing (Life Cycle Analysis) Vs.. Palm & Other Crop Oil Productions
                  5.1.1.    BSF Rearing & Processing
                  5.1.2.    Palm & Other Crop Oil Productions

6.    Impact of COVID-19 On the Black Soldier Fly Oil Market

7.    Black Soldier Fly Oil Market, by Application
       7.1.    Introduction
       7.2.    Animal Feed
       7.3.    Pet Food
       7.4.    Cosmetics
       7.5.    Others

8.    Black Soldier Fly Oil Market, by End Use
       8.1.    Introduction
       8.2.    Animal Nutrition
       8.3.    Human Consumption
       8.5.    Others

9.    Black Soldier Fly Oil Market, by Geography
       9.1.    North America
                 9.1.1.    U.S.
                 9.1.2.    Canada
       9.2.    Europe
                 9.2.1.    Netherlands 
                 9.2.2.    France
                 9.2.3.    U.K.
                 9.2.4.    Germany
                 9.2.5.    Finland
                 9.2.6.    Denmark
                 9.2.7.    Belgium
                 9.2.8.    Rest of Europe (RoE)
       9.3.    Asia-Pacific (APAC)
                 9.3.1.    China
                 9.3.2.    South Korea
                 9.3.3.    Japan
                 9.3.4.    Malaysia
                 9.3.5.    Vietnam
                 9.3.6.    Thailand
                 9.3.7.    Rest of Asia-Pacific (RoAPAC)
       9.4.    Latin America
       9.5.    Middle East & Africa

10.    Competitive Landscape
         10.1.    Introduction
         10.2.    Key Growth Strategies 
         10.3.    Competitive Benchmarking

11.    Company Profiles (Includes Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
         11.1.    Protix B.V. 
         11.2.    Enterra Feed Corporation
         11.3.    InnovaFeed
         11.4.    Enviroflight LLC
         11.5.    Nutrition Technologies Group
         11.6.    Bioflytech
         11.7.    Entobel Holding PTE. Ltd.
         11.8.    Entofood Sdn Bhd
         11.9.    SFly
         11.10.  Hexafly
         11.11.  F4F
         11.12.  Protenga Pte Ltd

12.    Appendix
         12.1.  Questionnaire 
         12.2.  Available Customization 

List of Tables

Table 1    Black Soldier Fly Oil Market Drivers: Impact Analysis (2021–2028) 
Table 2    Black Soldier Fly Oil Market Restraints: Impact Analysis (2021–2028) 
Table 3    Average Cost of Daily Production for BSF Products, by Farm Capacity, by Region, 2021 (USD)
Table 4    Average Cost of Equipment Maintenance of BSF Oil, by Farm Capacity, by Region, 2021 (USD)
Table 5    Cost of BSF Oil Vs. Synthetic/Natural Equivalents, 2020–2021 (USD/Ton)
Table 6    Average Selling Prices of BSF Oil, by Country/Region, 2018–2030 (USD/Ton)
Table 7    Tons of BSF Oil Production by BSF Farms Per Capacity of Organic Waste Processing Per Day (In Ton)
Table 8    Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 9    Black Soldier Fly Oil Market Size for Animal Feed, by Country/Region, 2019–2028 (USD Thousand)
Table 10    Black Soldier Fly Oil Market Size for Pet Food, by Country/Region, 2019–2028 (USD Thousand)
Table 11    Black Soldier Fly Oil Market Size for Cosmetics, by Country/Region, 2019–2028 (USD Thousand)
Table 12    Black Soldier Fly Oil Market Size for Other Applications, by Country/Region, 2019–2028 (USD Thousand)
Table 13    Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 14    Black Soldier Fly Oil Market Size for Animal Nutrition, by Country/Region, 2019–2028 (USD Thousand)
Table 15    Black Soldier Fly Oil Market Size for Human Consumption, by Country/Region, 2019–2028 (USD Thousand)
Table 16    Black Soldier Fly Oil Market Size for Other End Uses, by Country/Region, 2019–2028 (USD Thousand)
Table 17    Black Soldier Fly Oil Market Size, by Country/Region, 2019–2028 (USD Thousand)
Table 18    North America: Black Soldier Fly Oil Market Size, by Country, 2019–2028 (USD Thousand)
Table 19    North America: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 20    North America: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 21    U.S.: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 22    U.S.: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 23    Canada: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 24    Canada: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 25    Europe: Black Soldier Fly Oil Market Size, by Country, 2019–2028 (USD Thousand)
Table 26    Europe: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 27    Europe: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 28    Netherlands: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 29    Netherlands: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 30    France: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 31    France: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 32    U.K.: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 33    U.K.: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 34    Germany: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 35    Germany: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 36    Finland: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 37    Finland: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 38    Denmark: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 39    Denmark: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 40    Belgium: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 41    Belgium: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 42    Rest of Europe: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 43    Rest of Europe: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 44    Asia-Pacific: Black Soldier Fly Oil Market Size, by Country, 2019–2028 (USD Thousand)
Table 45    Asia-Pacific: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 46    Asia-Pacific: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 47    China: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 48    China: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 49    South Korea: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 50    South Korea: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 51    Japan: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 52    Japan: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 53    Malaysia: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 54    Malaysia: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 55    Vietnam: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 56    Vietnam: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 57    Thailand: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 58    Thailand: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 59    Rest of Asia-Pacific: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 60    Rest of Asia-Pacific: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 61    Latin America: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 62    Latin America: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 63    Middle East & Africa: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 64    Middle East & Africa: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
    
List of Figures

Figure 1    Market Ecosystem
Figure 2    Research Process
Figure 3    Key Secondary Sources
Figure 4    Primary Research Techniques
Figure 5    Key Executives Interviewed
Figure 6    Breakdown of Primary Interviews (Supply-side & Demand-side)
Figure 7    Market Sizing and Growth Forecast Approach
Figure 8    Pet Food to Witness Significant Growth in the Black Soldier Fly Oil Market during 2021–2028
Figure 9    Human Consumption to Witness Significant Growth in the Black Soldier Fly Oil Market during 2021–2028
Figure 10    Black Soldier Fly Oil Market Scenario, by Geography, 2021
Figure 11    Market Dynamics 
Figure 12    Regulation Status for the use of BSF Insect Oil in Animal Feed and Other Emerging Applications, by Country/Region
Figure 13    Cost of BSF Oil Vs. Synthetic/Natural Equivalents, 2020–2021 (USD/Ton)
Figure 14    Percentage of Saturated and Unsaturated Fatty Acid in Larvae, in Relation to Larval Weight.
Figure 15    BSF Oil Saturated Vs. Unsaturated Fatty Acid Content (In Percentage)
Figure 16    Application Areas of BSF, by Product
Figure 17    Steps Involved in BSF Rearing & Processing
Figure 18    Life Cycle Analysis of the BSF
Figure 19    Processing of BSF Insect Oil
Figure 20    Oil Palm Tree Life Cycle Analysis
Figure 21    Animal Welfare Standards in the Europe, 2019
Figure 22    Black Soldier Fly Oil Market Size, by Application, 2021–2028 (USD Thousand)
Figure 23    Black Soldier Fly Oil Market Size, by End Use, 2021–2028 (USD Thousand)
Figure 24    Black Soldier Fly Oil Market Size, by Region, 2021–2028 (USD Thousand)
Figure 25    Key Growth Strategies Adopted by Leading Players, 2019–2022
Figure 26    Black Soldier Fly Oil Market: Competitive Benchmarking, by Application 

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1.    Introduction
       1.1.    Market Definition
       1.1.    Market Ecosystem
       1.2.    Currency
       1.3.    Key Stakeholders

2.    Research Methodology
       2.1.    Research Approach
       2.2.    Data Collection & Validation
                 2.2.1.    Secondary Research
                 2.2.2.    Primary Research
       2.3.    Market Assessment
                 2.3.1.   Market Size Estimation
                             2.3.1.1.    Bottom-up Approach
                             2.3.1.2.    Top-down Approach
                             2.3.1.3.    Growth Forecast
       2.4.    Assumptions for the Study
       2.5.    Limitations of the Study

3.    Executive Summary
       3.1.    Introduction
       3.2.    Segment Analysis
                 3.2.1.    Black Soldier Fly Oil Market: Application Analysis
                 3.2.2.    Black Soldier Fly Oil Market: End Use Analysis
       3.3.    Black Soldier Fly Oil Market: Regional Analysis
       3.4.    Competitive Landscape & Market Competitors

4.    Market Insights
       4.1.    Introduction
       4.2.    Drivers
                 4.2.1.    Increasing Demand from Animal Feed Industry 
                 4.2.2.    Growing Expansions in Emerging & Developed Economies
       4.3.    Restraints
                 4.3.1.    Psychological and Ethical Barriers to Consuming BSF Oil as Food 
       4.4.    Challenges
                 4.4.1.    Supply and Demand Gap of BSF Oil for Biodiesel Production 
                 4.4.2.    Pricing Competition from Alternative Ingredients in the Cosmetic Industry 
       4.5.    Regulatory Analysis
                 4.5.1.    U.S.
                 4.5.2.    Europe
                 4.5.3.    Japan
                 4.5.4.    China
       4.6.    Cost Analysis
                 4.6.1.   BSF Products Production Cost Assessment
                             4.6.1.1.    Production Cost
                             4.6.1.2.    Equipment Maintenance
                 4.6.2.   Cost of BSF Oil Vs.. Synthetic/Natural Equivalents
       4.7.    BSF Oil Production Assessment
                 4.7.1.    Organic Waste Required Vs. BSF Oil Yield Ratio (Tons/Ton)
                 4.7.2.    BSF Oil Yield Vs. Land Area Ratio (Tons/Hectare)
       4.8.    Key BSF Oil Manufacturing Companies and their Production Capacities (Tons/Year)
       4.9.    Challenges With the BSF Insect Oil Business Model
                 4.9.1.    Lower Quality Products
                 4.9.2.    High Cost of Skilled Labor
                 4.9.3.    Ambiguous Regulatory Legislation
       4.10.    Characteristics of the Oil Produced- Saturated Vs. Unsaturated, Linear Vs. Branched Chain
       4.11.    Application Areas of BSF Products (Other than Insect Oil), by Product
                   4.11.1.    Protein Meal
                   4.11.2.    Chitin
                   4.11.3.    Fertilizer
                   4.11.4.    Others
       4.12.    Insights on Animal Rights Issues Assessment for Insects
       4.13.    Insights on Risk of Disease Transmission from BSF

5.    Life Cycle Analysis
        5.1.    BSF Rearing & Processing (Life Cycle Analysis) Vs.. Palm & Other Crop Oil Productions
                  5.1.1.    BSF Rearing & Processing
                  5.1.2.    Palm & Other Crop Oil Productions

6.    Impact of COVID-19 On the Black Soldier Fly Oil Market

7.    Black Soldier Fly Oil Market, by Application
       7.1.    Introduction
       7.2.    Animal Feed
       7.3.    Pet Food
       7.4.    Cosmetics
       7.5.    Others

8.    Black Soldier Fly Oil Market, by End Use
       8.1.    Introduction
       8.2.    Animal Nutrition
       8.3.    Human Consumption
       8.5.    Others

9.    Black Soldier Fly Oil Market, by Geography
       9.1.    North America
                 9.1.1.    U.S.
                 9.1.2.    Canada
       9.2.    Europe
                 9.2.1.    Netherlands 
                 9.2.2.    France
                 9.2.3.    U.K.
                 9.2.4.    Germany
                 9.2.5.    Finland
                 9.2.6.    Denmark
                 9.2.7.    Belgium
                 9.2.8.    Rest of Europe (RoE)
       9.3.    Asia-Pacific (APAC)
                 9.3.1.    China
                 9.3.2.    South Korea
                 9.3.3.    Japan
                 9.3.4.    Malaysia
                 9.3.5.    Vietnam
                 9.3.6.    Thailand
                 9.3.7.    Rest of Asia-Pacific (RoAPAC)
       9.4.    Latin America
       9.5.    Middle East & Africa

10.    Competitive Landscape
         10.1.    Introduction
         10.2.    Key Growth Strategies 
         10.3.    Competitive Benchmarking

11.    Company Profiles (Includes Business Overview, Financial Overview, Product Portfolio, and Strategic Developments)
         11.1.    Protix B.V. 
         11.2.    Enterra Feed Corporation
         11.3.    InnovaFeed
         11.4.    Enviroflight LLC
         11.5.    Nutrition Technologies Group
         11.6.    Bioflytech
         11.7.    Entobel Holding PTE. Ltd.
         11.8.    Entofood Sdn Bhd
         11.9.    SFly
         11.10.  Hexafly
         11.11.  F4F
         11.12.  Protenga Pte Ltd

12.    Appendix
         12.1.  Questionnaire 
         12.2.  Available Customization 

List of Tables

Table 1    Black Soldier Fly Oil Market Drivers: Impact Analysis (2021–2028) 
Table 2    Black Soldier Fly Oil Market Restraints: Impact Analysis (2021–2028) 
Table 3    Average Cost of Daily Production for BSF Products, by Farm Capacity, by Region, 2021 (USD)
Table 4    Average Cost of Equipment Maintenance of BSF Oil, by Farm Capacity, by Region, 2021 (USD)
Table 5    Cost of BSF Oil Vs. Synthetic/Natural Equivalents, 2020–2021 (USD/Ton)
Table 6    Average Selling Prices of BSF Oil, by Country/Region, 2018–2030 (USD/Ton)
Table 7    Tons of BSF Oil Production by BSF Farms Per Capacity of Organic Waste Processing Per Day (In Ton)
Table 8    Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 9    Black Soldier Fly Oil Market Size for Animal Feed, by Country/Region, 2019–2028 (USD Thousand)
Table 10    Black Soldier Fly Oil Market Size for Pet Food, by Country/Region, 2019–2028 (USD Thousand)
Table 11    Black Soldier Fly Oil Market Size for Cosmetics, by Country/Region, 2019–2028 (USD Thousand)
Table 12    Black Soldier Fly Oil Market Size for Other Applications, by Country/Region, 2019–2028 (USD Thousand)
Table 13    Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 14    Black Soldier Fly Oil Market Size for Animal Nutrition, by Country/Region, 2019–2028 (USD Thousand)
Table 15    Black Soldier Fly Oil Market Size for Human Consumption, by Country/Region, 2019–2028 (USD Thousand)
Table 16    Black Soldier Fly Oil Market Size for Other End Uses, by Country/Region, 2019–2028 (USD Thousand)
Table 17    Black Soldier Fly Oil Market Size, by Country/Region, 2019–2028 (USD Thousand)
Table 18    North America: Black Soldier Fly Oil Market Size, by Country, 2019–2028 (USD Thousand)
Table 19    North America: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 20    North America: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 21    U.S.: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 22    U.S.: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 23    Canada: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 24    Canada: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 25    Europe: Black Soldier Fly Oil Market Size, by Country, 2019–2028 (USD Thousand)
Table 26    Europe: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 27    Europe: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 28    Netherlands: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 29    Netherlands: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 30    France: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 31    France: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 32    U.K.: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 33    U.K.: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 34    Germany: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 35    Germany: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 36    Finland: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 37    Finland: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 38    Denmark: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 39    Denmark: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 40    Belgium: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 41    Belgium: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 42    Rest of Europe: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 43    Rest of Europe: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 44    Asia-Pacific: Black Soldier Fly Oil Market Size, by Country, 2019–2028 (USD Thousand)
Table 45    Asia-Pacific: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 46    Asia-Pacific: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 47    China: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 48    China: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 49    South Korea: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 50    South Korea: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 51    Japan: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 52    Japan: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 53    Malaysia: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 54    Malaysia: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 55    Vietnam: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 56    Vietnam: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 57    Thailand: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 58    Thailand: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 59    Rest of Asia-Pacific: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 60    Rest of Asia-Pacific: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 61    Latin America: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 62    Latin America: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
Table 63    Middle East & Africa: Black Soldier Fly Oil Market Size, by Application, 2019–2028 (USD Thousand)
Table 64    Middle East & Africa: Black Soldier Fly Oil Market Size, by End Use, 2019–2028 (USD Thousand)
    
List of Figures

Figure 1    Market Ecosystem
Figure 2    Research Process
Figure 3    Key Secondary Sources
Figure 4    Primary Research Techniques
Figure 5    Key Executives Interviewed
Figure 6    Breakdown of Primary Interviews (Supply-side & Demand-side)
Figure 7    Market Sizing and Growth Forecast Approach
Figure 8    Pet Food to Witness Significant Growth in the Black Soldier Fly Oil Market during 2021–2028
Figure 9    Human Consumption to Witness Significant Growth in the Black Soldier Fly Oil Market during 2021–2028
Figure 10    Black Soldier Fly Oil Market Scenario, by Geography, 2021
Figure 11    Market Dynamics 
Figure 12    Regulation Status for the use of BSF Insect Oil in Animal Feed and Other Emerging Applications, by Country/Region
Figure 13    Cost of BSF Oil Vs. Synthetic/Natural Equivalents, 2020–2021 (USD/Ton)
Figure 14    Percentage of Saturated and Unsaturated Fatty Acid in Larvae, in Relation to Larval Weight.
Figure 15    BSF Oil Saturated Vs. Unsaturated Fatty Acid Content (In Percentage)
Figure 16    Application Areas of BSF, by Product
Figure 17    Steps Involved in BSF Rearing & Processing
Figure 18    Life Cycle Analysis of the BSF
Figure 19    Processing of BSF Insect Oil
Figure 20    Oil Palm Tree Life Cycle Analysis
Figure 21    Animal Welfare Standards in the Europe, 2019
Figure 22    Black Soldier Fly Oil Market Size, by Application, 2021–2028 (USD Thousand)
Figure 23    Black Soldier Fly Oil Market Size, by End Use, 2021–2028 (USD Thousand)
Figure 24    Black Soldier Fly Oil Market Size, by Region, 2021–2028 (USD Thousand)
Figure 25    Key Growth Strategies Adopted by Leading Players, 2019–2022
Figure 26    Black Soldier Fly Oil Market: Competitive Benchmarking, by Application 

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