The global black soldier fly market is expected to reach $2.57 billion by 2030 with a CAGR of 33.3% during the forecast period of 2019 to 2030.
Fish and soybean meal are the major acting protein sources for the feed; however, these sources compete with food production for humans. Moreover, availability of fishmeal has become limited due to over-exploitation of marine, 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 insects as a feed ingredient.
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According to this latest publication from Meticulous Research, in terms of value, the global black soldier fly market is expected to grow at a CAGR of 33.3% from 2019 to reach $2.57 billion by 2030; whereas, in terms of volume, this market is expected to reach 2,052.9 KT by 2030.
Insects have high levels of protein and their production has a small footprint. Insect species that are mass-reared such as black soldier fly have received significant attention mainly due to its ability to feed on different substrates including organic waste streams. The ability of BSF to convert organic waste into high-quality nutrients has rapidly opened commercial opportunities with the development of products such as protein meal, which is a cheaper alternative protein source as compared to fishmeal or soybean meal for pig, poultry, and fish feeds.
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Scope of the Report:
Black Soldier Fly Market by Product Type
- Protein Meal
- Biofertilizers (Frass)
- Whole Dried Larvae
- Larvae Oil
- Others (Live, Larvae, Adult, Cocoon, & Pupa)
Black Soldier Fly Market by Application
- Animal Feed
- Pet Food
Black Soldier Fly Market by Geography
- North America
- The Netherlands
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- South Korea
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Middle East and Africa
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Some of the key players operating in the global black soldier market are AgriProtein (South Africa), Bioflytech (Spain), Enterra Feed Corporation (Canada), Entobel (Vietnam), Entofood (Malaysia), Entomo Farm (France), EnviroFlight (U.S.), Hexafly (Ireland), F4F (Chile), Hermetia GmbH (Germany), InnovaFeed (France), Protenga (Malaysia), and Protix (The Netherlands) among others.
Key questions answered in the report-
Which are the high growth market segments in terms of product type, application, and regions?
What are pricing trends for different BSF products across the globe?
What is the historical market for black soldier fly across the globe?
What are the market forecasts and estimates for the period of 2019-2030?
What are the major drivers, restraints, and opportunities in the global black soldier fly market?
Who are the major players in the global black soldier fly 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 are the recent developments in the global black soldier fly market?
What are the different strategies adopted by the major players in the global black soldier fly market?
What are the geographic trends and high growth countries?
Who are the local emerging players in the global black soldier fly market and how do they compete with the other players?
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