The global demand for Black Soldier Fly Market is presumed to reach the market size of nearly USD XX MN by 2028 from USD XX MN in 2021 with a CAGR of XX% under the study period of 2022 - 2028. Regarding volume, the market was calculated XX Tons in 2021 and forecast to touch XX Tons by 2028 with a CAGR of XX% during 2022-2028.
The Black Soldier Fly (Hermetia illucens) is a game-changing bug that provides a new food source for the feed industry. Black Soldier Fly (BSFL) larvae may develop on any organic waste and convert it to high protein and lipids. It has emerged as a cheaper protein alternative source for animal feed applications due to its high protein (40-44%) and lipid content (7-36%). Furthermore, a defatted BSF exoskeleton, one of the fastest developing biopolymers, can be used to make high-quality chitin. Waste is composted or converted into animal feed using black soldier fly larvae (BSFL). Fly larvae are some of the most efficient biomass-to-feed converters. The black soldier fly is a ubiquitous insect in the Stratiomyidae family. It also contains amino acids, which are extremely easy for animals to digest. Black soldier flies can be found in bright, sunny settings, resting on surrounding structures or vegetation and visiting daisies and carrot blooms. They are considered non-pests and are one of the most beneficial flies in the world.
Market Dynamics
The black soldier flies market is growing due to the rising global demand for animal products, the increasing aquaculture industry, the increasing need for alternative proteins from the animal feed industry, and rising government approvals of insect meal in livestock feed. The market will benefit from the growing demand for high protein sources in the feed sector and an increasing requirement of sustainable and cost-effective nutrition to meet that demand. The increased demand for alternative protein meals from animal feed makers, grown fish meal and soy meal prices, and government backing and approval for an insect meal contribute to this segment's rapid rise. Furthermore, specific fish feeding trials have shown that BSF meal is a superior substitute for fish meal in aquafeeds. The interest of leading manufacturers in boosting their market share in this industry would drive demand for black soldier flies in the market.
The report covers Porter's Five Forces Model, Market Attractiveness Analysis, and Value Chain analysis. These tools help to get a clear picture of the industry's structure and evaluate the competition attractiveness at a global level. Additionally, these tools also give an inclusive assessment of each segment in the global market of black soldier fly. The growth and trends of Black Soldier Fly Industry provide a holistic approach to this study.
Market Segmentation
This section of the black soldier fly market report provides detailed data on the segments by analyzing them at country and regional level, thereby assisting the strategist in identifying the target demographics for the respective product or services with the upcoming opportunities.
By Product Type
- Protein Meal
- Biofertilizers (Frass)
- Whole Dried Larvae
- Larvae Oil
- Others (Live, Larvae, Adult, Cocoon, & Pupa)
By Application
- Animal Feed
- Agriculture
- Pet Food
- Others
Regional Analysis
This section covers the regional outlook, which accentuates current and future demand for the Black Soldier Fly market across North America, Europe, Asia-Pacific, Latin America, and Middle East & Africa. Further, the report focuses on demand, estimation, and forecast for individual application segments across all the prominent regions.
Global Black Soldier Fly Market Share by Region (Representative Graph)
The research report also covers the comprehensive profiles of the key players in the market and an in-depth view of the competitive landscape worldwide. The major players in the black soldier fly market include AgriProtein (A Part of Insect Technology Group) (England), 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). This section consists of a holistic view of the competitive landscape that includes various strategic developments such as key mergers & acquisitions, future capacities, partnerships, financial overviews, collaborations, new product developments, new product launches, and other developments.
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