Black Soldier Fly Market by Product, by Application, and Geography - Global Forecast to 2033

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}), Application (Animal Feed, Agriculture, Pet Food, Others), and Geography- Global Forecast to 2033

The 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” provides an in-depth analysis of the black soldier fly market in five major geographies and emphasizes the current market trends, market size, market share, recent developments, and forecast till 2033. 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. Whereas, 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, high cost of skilled labor, and risk of disease transmission from BSF challenge the growth of this market.

The study comprehensively analyzes the global black soldier fly market concerning various product types and applications. The global black soldier fly market is segmented based on product type (protein meals, whole dried larvae, biofertilizers {frass}, larvae oil, and others), application (animal feed, agriculture, pet food, and other), and geography.

Based on product type, 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 animal feed manufacturers, increasing fish and soy meal prices, and government support and approval for an insect meal to be used in animal feed.

Based on application, the animal feed segment is estimated to witness rapid growth during the forecast period. The rapid growth of this segment is mainly attributed to the growing demand for animal-derived products and subsequent increase in the demand for protein-rich animal feed, rising soy meal prices, and government approval for BSF to be used as a feed ingredient.

Geographically, the global black soldier fly market is segmented into North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. Europe is expected 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.

The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past three years (2019-2022). The key players profiled in the global black soldier fly market report 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 fly across the globe?
• What are the market forecasts and estimates for 2022-2033?
• What are the major drivers, restraints, opportunities, and challenges 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?

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
• Agriculture
• Pet Food
• Others

Black Soldier Fly 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