Canada Black Soldier Fly Market (2024-2033)
Canada Black Soldier Fly Market is projected to reach $62.93 million by 2033, at a CAGR of 22.2% during the forecast period of 2024–2033. In terms of volume, the Canada Black Soldier Fly market is projected to reach 125,333 tons by 2033, at a CAGR of 32.2% during the forecast period of 2024–2033.
- Published
- Jun 2024
- Pages
- 66
- Format
- PDF + Excel
- Report ID
- MRFB - 104543
- Base year
- 2023
- 2033 · FORECAST
- $62.9M
- 2033
- $62.9M
- CAGR 2024–2033
- 22.2%
2023 baseline · 2024–2033 forecast at 22.2% CAGR · hover a bar for the value
Key highlights
Canada Black Soldier Fly Market is projected to reach $62.93 million by 2033, at a CAGR of 22.2% during the forecast period of 2024–2033.
In terms of volume, the Canada Black Soldier Fly market is projected to reach 125,333 tons by 2033, at a CAGR of 32.2% during the forecast period of 2024–2033.
The Protein Meal Segment to Dominate the Canada Black Soldier Fly Market
The Aquafeed Segment to Dominate the Canada Black Soldier Fly Market
Report summary
| Particulars | Details |
|---|---|
| Number of Pages | 66 |
| Format | |
| Forecast Period | 2024–2033 |
| Base Year | 2023 |
| CAGR (Value) | 22.2% |
| Market Size (Value) | USD 62.93 Million by 2033 |
| CAGR (Volume) | 32.2% |
| Market Size (Volume) | 125,333 Tons by 2033 |
| Segments Covered | By Type · Protein Meal · Whole Dried Larvae · Biofertilizers (Frass) · Larvae Oil · Other BSF Products · By Application · Aquafeed · Animal Feed · Agriculture · Pet Food · Other Applications |
| Key Companies | Enterra Feed Corporation (Canada), Oreka Solutions (Canada), Snackyard BSF (Canada), Entosystem (Canada), Oberland Agriscience Inc. (Canada), InnovaFeed SAS (France), Protix B.V. (The Netherlands), and EnviroFlight LLC. (U.S.). |
Report overview
Segments covered: product.
This market's growth can be attributed to several factors, including the growing aquaculture industry, rising demand for alternative proteins in the animal feed industry, and increasing government support for the Canadian BSF industry.
However, limited acceptance and approvals for Black Soldier Fly Larvae (BSFL) to be incorporated into the human diet hinder the growth of Canada's black soldier fly market. Additionally, the potential use of chitin and chitosan in industrial applications is expected to create opportunities for the players operating in this market, and the availability of cheaper substitutes is a major challenge for market growth.
Report infographic
Market dynamics
3 factors across 2 forcesIncreasing Government Support for the Canadian BSF Industry Drives the Growth of the Black Soldier Fly Market
Government authorities across the globe are taking steps to ensure the sustainable supply of safe and healthy feed from the insect feed industry. Support from government authorities to increase the use of BSF-based products in animal feed has led to a rise in demand. In Canada, the Canadian Food Inspection Agency (CFIA) has approved the use of insects as an ingredient in feeds for certain fish and poultry species. For instance, in September 2019, the CFIA approved the use of Oreka Solutions’ black soldier fly larvae as a protein ingredient in feed for salmonids, trout, tilapia, and poultry. Further, in January 2021, Enterra Feed Corporation received a CAD 6 million investment from Canada’s agriculture and agri-food sector under the AgriInnovate Program to help increase the production of sustainable and nutritious animal feed products. This funding allowed the company to construct a full-scale commercial facility and adopt innovative equipment & processes to increase its production capacity and improve efficiency.
Thus, increasing government support to boost the production of BSF-based animal feed and growing approvals for the use of insect meal in animal feed are expected to fuel the growth of the BSF market in Canada.
Rising Demand for Alternative Proteins in the Animal Feed Industry
The global population is rising exponentially along with economic growth and changing dietary patterns. These factors are expected to support and account for a 70% increase in the demand for livestock products by 2050. The prices of livestock-based products are increasing consistently due to rising feed costs. Presently, feed cost contributes ~60–70% to the total livestock production cost. Fish and soybean meal are the major protein sources for feed. However, these sources also cater to human food requirements. Moreover, the availability of fish meal has become limited due to the over-exploitation of marine resources, causing a rapid increase in the cost of these feed ingredients. As a result, the search for sustainable alternatives has led to a growing interest in using BSF as a feed ingredient.
Insects contain high levels of protein, and their production has a small footprint. Insect species that are mass-reared, such as the black soldier fly, have received significant attention mainly due to their ability to feed on different substrates, including organic waste streams. The ability of BSF to convert organic waste to high-quality nutrients has created commercial opportunities for developing products, such as BSF-based protein meal, which is a cheaper alternative to fish meal or soybean meal for pig, poultry, and fish feed production. According to an FDA study, when soybean meal and fish meal in feed were replaced with BSF larvae meal in proportions of 10–56%, broiler quail and chicken meat had satisfactory taste, aroma, and nutritional composition. In addition, BSFL was also used as fish feed for Nile tilapia, resulting in similar growth performance and feed conversion.
Therefore, with the high growth performance of BSF meal and the rising prices of fish and soy meal, animal feed manufacturers have started incorporating BSF as ingredients into their feed products. This trend is also prevalent in Canada, driving the growth of the black soldier fly market in Canada.
Table of contents
13 chapters · 73 sections · 66 pages · click to expandSegmental analysis
| Segment | Largest share (2024) | Fastest growth (2024–2033) |
|---|---|---|
| By Product | Protein Meal | — |
| By Application | Aquafeed | Animal feed |
By Product
- The Protein Meal Segment to Dominate the Canada Black Soldier Fly Market
- The protein meal segment is expected to account for the largest share of 57.9% of the black soldier fly market in Canada.
- The segment’s large share is mainly attributed to the increasing demand for protein meal in the animal feed industry, increased fish meal prices, and government support and approval for insect meal to be used in animal feed.
- This segment is also expected to record the highest CAGR of 24.6% during the forecast period.
- Further, in terms of volume, the frass segment is expected to account for the largest share of 63.8% of the black soldier fly market in Canada.
- BSF fertilizer is a microbially activated organic fertilizer made from insect frass and decomposed organic biomass.
- It acts as a nutrient-rich fertilizer for organic farming and horticulture and promotes plant growth.
- The large share of this market is mainly attributed to the high efficiency of black soldier fly frass fertilizers in agriculture and its large production at cheaper prices compared to other BSF products.
By Application
- The Aquafeed Segment to Dominate the Canada Black Soldier Fly Market
- The aquafeed segment is expected to account for the largest share of 45.3% of the black soldier fly market in Canada.
- The segment’s large share is mainly attributed to early regulatory approval of BSF for this application, the increasing adoption of fish meals, and volatile fish meal prices.
- However, the animal feed segment is projected to record the highest CAGR of 26.3% during the forecast period of 2024–2033.
- The market’s high growth is driven by factors such as the growing demand for meat products and the subsequent increase in the demand for protein-rich animal feed.
Competitive landscape
- Enterra Feed Corporation · Canada
- Oreka Solutions · Canada
- Snackyard BSF · Canada
- Entosystem · Canada
- Oberland Agriscience Inc. · Canada
- InnovaFeed SAS · France
- Protix B.V. · The Netherlands
- EnviroFlight LLC. (U.S.)
Frequently asked questions
The Black Soldier Fly market report covers the collective revenue of all commercial BSF products, including protein meal, whole dried larvae, larvae oil, frass/biofertilizer, and other BSF Products such as eggs, pupa, slurry, and crushed larvae. This report provides detailed market insights and includes market sizes & forecasts for black soldier fly in terms of value (by product and application) & volume (by product).
Cite this report
Meticulous Research. (2024). Canada Black Soldier Fly Market - Opportunity Analysis And Industry Forecast (2024 - 2033) (Report No. MRFB - 104543). Meticulous Market Research Pvt. Ltd. https://www.meticulousresearch.com/product/canada-black-soldier-fly-market-5230