Global Black Soldier Fly Market Report 2022: Growing Feed Industry Demand for Alternative Proteins Driven by Rising Fish and Soybean Meal Prices Driving Growth – ResearchAndMarkets.com

DUBLIN–(BUSINESS WIRE)–The report “Black Soldier Fly Market by Product, by Application, and Geography – Global Forecast to 2033” has been added to from ResearchAndMarkets.com offer.

The research report provides an in-depth analysis of the Black Soldier Fly market across five major geographies and emphasizes current market trends, market size, market share, recent developments, and forecast up to in 2033. In terms of value, the Global Black Soldier Fly Market is expected to grow at a CAGR of 30.5% from 2022 to reach $3.96 Billion by 2033. While in terms of volume, this market is expected to increase by 36.9% CAGR from 2022 to reach 8,003.7 thousand tons by 2033.

This market is mainly driven by increasing global demand for meat, growing aquaculture industry, increasing demand from animal feed industry for alternative proteins due to rising prices soybean meal and fishmeal, and increasing government support for the application of insect meal in livestock feed. Additionally, the expansions in both developed and emerging economies offer 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 and approvals for the incorporation of BSFL into the human diet are hampering the growth of the overall black soldier fly market. Additionally, the availability of cheaper substitutes, the high cost of skilled labor, and the risk of disease transmission through BSF are challenging the growth of this market.

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

On the basis of product type, in terms of value, protein meal 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 primarily attributed to growing demand protein meals of animal origin. animal feed manufacturers, rising fishmeal and soybean meal prices, and government support and approval for an insect meal for use in animal feed.

Based on the application, the animal feed segment is expected to grow rapidly over the forecast period. The rapid growth of this segment is mainly attributed to the growing demand for animal products and subsequent increase in demand for protein-rich animal feeds, rising soybean meal prices and the government approval of the use of BSF as a food ingredient.

Report Scope:

Black Soldier Fly Market, By Product Type

  • protein meal

  • Biofertilizers (Frass)

  • Dried whole larvae

  • Larval oil

  • Others (live, larvae, adults, cocoon and pupa)

Black Soldier Fly Market, By Application

  • animal feed

  • Agriculture

  • pet food

  • Others

Main topics covered:

1. Introduction

2. Research methodology

3. Executive Summary

4. Market Overview

4.1. Introduction

4.2. Drivers

4.2.1. Increase in global demand for meat

4.2.2. Growth of the aquaculture industry

4.2.3. Increase in feed industry demand for alternative proteins due to rising fish and soybean meal prices

4.2.4. Increase government support for the use of insect meal in livestock feed

4.3. Constraints

4.3.1. Non-standardized regulatory framework across Europe

4.3.2. Acceptance and limited approvals for incorporation of BSFL into human food

4.4. Opportunity

4.4.1. Expansion in emerging and developed economies

4.5. Challenges

4.5.1. Availability of cheaper substitutes

4.5.2. High cost of skilled labor

4.5.3. Risk of disease transmission through BSF

4.6. Regulatory analysis

5. BSF Processing

6. Cost analysis

7. Impact of Covid-19 on the Black Soldier Fly Market

8. Opportunity analysis: BSF-derived chitin and chitosan

9. Black Soldier Fly Market, By Product

10. Black Soldier Fly Market, By Application

11. Black Soldier Fly Market, By Geography

12. Competitive Landscape

13. Business Profiles

14. Emerging start-ups

Companies cited

  • Protix B.V.

  • Enterra Feed Corporation

  • InnovaFeed

  • EnviroFlight LLC

  • Bioflytech

  • Entobel Holding PTE. ltd.

  • Entofood

  • Sfly

  • hexafly

  • F4F

  • Nutrition Technology Group

  • nextProtein

  • Protenga Pte Ltd

For more information about this report visit https://www.researchandmarkets.com/r/rl6i6k