Black Soldier Fly Market
Black Soldier Fly Market By Product Type (Protein Meal, Frass, Whole Dried Larvae, Larvae Oil), By Application (Animal Feed, Pet Food, Agriculture) & By Region (North America, Latin America, Western Europe) - Global Market Insights 2022 to 2032
Analysis of Black Soldier Fly Market Covering 30+ Countries Including Analysis of US, Canada, UK, Germany, France, Nordics, GCC countries, Japan, Korea and many more
Black Soldier Fly Market Outlook (2022 to 2032)
The global market for black soldier fly market is valued at USD 0.21 Billion at present in 2022. The market is expected to grow with a CAGR of 30.5% in the forecast period. The arcade is likely to cross a valuation of USD 3.03 Billion by end of 2032.
In comparison to former years, there is prosperity in sustainability awareness. Sustainability preferences have touched every aspect of consumer preferences. Dietary preferences by people are now inclining more toward nutrition-rich and environmentally friendly options.
Demand for food rises as the population grows. Production of meat has expanded to meet the rising global need for food by expelling the population. To increase the quality of the meat produced by animals, proper feed must be given to them.
Increasing plea for farmed fish has led to a rise in fish oil and fish meal prices. Insect feed serves as a viable and more profitable protein-rich aqua feed alternative thus benefiting the growth of the market with the expansion of the aquaculture industry.
The market for edible insects for animal feed has been introduced by the feed industry. Moreover, high levels of protein found in insects are crucial for improving livestock growth. With the intention to meet the growing demand for protein, farmers are looking for alternative resources.
| Report Attributes | Details |
|---|---|
|
Market size (2022 A) |
USD 0.21 Billion |
|
Base Year for Estimation |
2022 |
|
Forecast duration for this research |
2022 to 2032 |
|
Forecasted Market value (2032 F) |
USD 3.03 Billion |
|
Global Market Growth rate (2022 to 2032 E) |
CAGR of 30.5% |
|
Key Companies Profiled |
EnviroFlight; LLC; Entomo Farms; Beta Hatch; Nutritional Technologies Group; Hexafly Biotech; Entobel; HiProMine S.A.; Protenga |
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What drives demand for this market?
Consumer-oriented demands in meat quality have motivated meat producers to concentrate on the nutritional aspects of livestock rearing as it controls several aspects of meat quality.
As a dry product, black soldier fly contains 50% to 80% of protein, which is added to the animal nutrition value. It also contains amino acids, which are highly digestible for animals. Thus, increased efforts to upgrade the quality of meat through nutrient-infused feed will proliferate sales of insects for use in animal feed.
There is a rise in preferences for the consumption of insects as a part of the diet in animal protein which is gaining attention. Cost-effectiveness is a key driver for people to include these as alternatives for animal meat. The appearance of insects in feed is attributable to their nutritional, economic, and environmental value.
The increased scrutiny of insects is part of multifaceted strategies for achieving global feed security for animals. Insects have high protein content and excellent production efficiency compared to other conventional feed products.
Black soldier fly needs four times less feed than sheep, 12 times less than cattle, and half as much as broiler chickens and pigs to produce the same amount of protein. Replacement of fish meals with dried insects has shown an increase in egg production by 2.4%. Thus, with the high protein content insects are increasingly gaining popularity among animal rearers as an efficient alternative to high-cost protein sources.
What restraints are faced by the market?
The COVID-19 outbreak created an anxious situation among animal nutrition manufacturers due to trade barriers, but the steady demand from the animal feed industry has had minimal impact on the insect market.
The higher demand pattern for cost-effective sustainable solutions is expected to offer significant growth for the insect industry. Disruption in agriculture and trading activities may lead to fluctuation in agri-commodity prices thus positively impacting the growth of edible insects for offering proteins to animals.
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Regional Outlook
According to U.N., the worldwide livestock industry is responsible for 14.5% of global greenhouse emissions. The production of insects is known to be around 20 times more efficient as a protein source as it produces 80 times less methane. Thus, demand is expected to be steady with the increasing government’s efforts in the US towards including sustainable products for animal feed.
Demand for black soldier fly in U.S. and Canadian markets will be led by highlighted manufacturers’ interest in increasing their market share in this industry. With increased focus on the potential of insects for animal feed in the near future, many manufacturers in the U.S. have increased their production capacity and many are in process of increasing it.
The European market has undergone rapid growth for edible insects during the last years, especially after the EU commission allowed the use of insects in feed for pets and aquaculture animals starting in July 2017. Several start-ups, small/medium enterprises, and a few large-scale companies were founded across Europe with the aim of improving insect-rearing methods which attracted the interest of important investors.
The International Platform of Insects for Food and Feed, an EU non-profit organization, promotes the use of insects and insect-derived products as a source of nutrients for human consumption and animal feed. In 2019, its member companies raised US$ 685 Mn to produce more than 6000 tons of insects 2019. Thus, the increasing commercialization of edible insects for animal feed in Europe is expected to benefit the market growth of the black soldier fly market.
Competitive Landscape
Investors have also identified insect-based animal feed products to be a lucrative prospect for increased profits. Thus, increased investment by investors has enabled manufacturers to increase production capacities to cater to the increasing demand for insects. This growing interest and increasing production capacities of the manufacturers are expected to drive substantial growth for insect-based animal feed in U.S. and Canada during the forecast period.
Key manufacturers like AgriProtein Holdings Ltd, and others are focusing on the expansion of their production facilities as well as strategic alliances/partnerships with regional feed manufacturers in Western Europe, Asia Pacific, and the Middle East, to increase their market presence and product offerings in the global market.
Additionally, manufacturers including Nutrition Technologies Group, HiProMine S.A are introducing novel techniques and methods for black soldier fly raising and breeding to improve the quality of their products as well as increase production. Companies are investing in R&D intending to develop competitive and adaptable insect production and processing technologies.
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Black Soldier Fly Market: Segmentation
-
By Product Type :
- Protein Meal
- Frass
- Whole Dried Larvae
- Larvae Oil
- Others (Live, Larvae, Cocoon, & Pupa)
-
By Application :
- Animal Feed
- Pet Food
- Agriculture
- Others
-
By Region :
- North America
- US & Canada
- Latin America
- Brazil, Mexico, and Others
- Western Europe
- EU5
- Nordics
- Benelux
- Eastern Europe
- Asia Pacific
- Australia and New Zealand (ANZ)
- Greater China
- India
- ASEAN
- Rest of Asia Pacific
- Japan
- Middle East and Africa
- GCC Countries
- Other Middle East
- North Africa
- South Africa
- Other Africa
- North America
Table of Content
- 1. Executive Summary
- 2. Industry Introduction, including Taxonomy and Market Definition
- 3. Market Trends and Success Factors, including Macro-economic Factors, Market Dynamics, and Recent Industry Developments
- 4. Global Market Demand Analysis and Forecast, including Historical Analysis and Future Projections
- 5. Pricing Analysis
- 6. Global Market Analysis and Forecast
- 7. Global Market Analysis and Forecast, By Product Type
- 7.1. Protein Meal
- 7.2. Frass
- 7.3. Whole Dried Larvae
- 7.4. Larvae Oil
- 7.5. Others (Live, Larvae, Cocoon, & Pupa)
- 8. Global Market Analysis and Forecast, By Application
- 8.1. Animal Feed
- 8.2. Pet Food
- 8.3. Agriculture
- 8.4. Others
- 9. Global Market Analysis and Forecast, By Region
- 9.1. North America
- 9.2. Latin America
- 9.3. Western Europe
- 9.4. Eastern Europe
- 9.5. East Asia
- 9.6. South Asia & Pacific
- 9.7. MEA
- 10. North America Sales Analysis and Forecast, by Key Segments and Countries
- 11. Latin America Sales Analysis and Forecast, by Key Segments and Countries
- 12. Western Europe Sales Analysis and Forecast, by Key Segments and Countries
- 13. Eastern Europe Sales Analysis and Forecast, by Key Segments and Countries
- 14. East Asia Sales Analysis and Forecast, by Key Segments and Countries
- 15. South Asia & Pacific Sales Analysis and Forecast, by Key Segments and Countries
- 16. MEA Sales Analysis and Forecast, by Key Segments and Countries
- 17. Sales Forecast by Product Type and Application for 30 Countries
- 18. Competition Outlook, including Market Structure Analysis, Company Share Analysis by Key Players, and Competition Dashboard
- 19. Company Profile
- 19.1. EnviroFlight
- 19.2. LLC
- 19.3. Entomo Farms
- 19.4. Beta Hatch
- 19.5. Nutritional Technologies Group
- 19.6. Hexafly Biotech
- 19.7. Entobel
- 19.8. HiProMine S.A.
- 19.9. Protenga
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List Of Table
Table 1: Global Market US$ Bn Forecast by Region
Table 2: Global Market US$ Bn Forecast by Product Type
Table 3: Global Market US$ Bn Forecast by Application
Table 4: North America Market US$ Bn Forecast by Country
Table 5: North America Market US$ Bn Forecast by Product Type
Table 6: North America Market US$ Bn Forecast by Application
Table 7: Latin America Market US$ Bn Forecast by Country
Table 8: Latin America Market US$ Bn Forecast by Product Type
Table 9: Latin America Market US$ Bn Forecast by Application
Table 10: Western Europe Market US$ Bn Forecast by Country
Table 11: Western Europe Market US$ Bn Forecast by Product Type
Table 12: Western Europe Market US$ Bn Forecast by Application
Table 13: Eastern Europe Market US$ Bn Forecast by Country
Table 14: Eastern Europe Market US$ Bn Forecast by Product Type
Table 15: Eastern Europe Market US$ Bn Forecast by Application
Table 16: East Asia Market US$ Bn Forecast by Country
Table 17: East Asia Market US$ Bn Forecast by Product Type
Table 18: East Asia Market US$ Bn Forecast by Application
Table 19: South Asia & Pacific Market US$ Bn Forecast by Country
Table 20: South Asia & Pacific Market US$ Bn Forecast by Product Type
Table 21: South Asia & Pacific Market US$ Bn Forecast by Application
Table 22: MEA Market US$ Bn Forecast by Country
Table 23: MEA Market US$ Bn Forecast by Product Type
Table 24: MEA Market US$ Bn Forecast by Application
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List Of Figures
Figure 1: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 2: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 3: Global Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Region
Figure 4: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 5: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 6: North America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 7: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 8: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 9: Latin America Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 10: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 11: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 12: Western Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 13: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 14: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 15: Eastern Europe Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 16: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 17: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 18: East Asia Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 19: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 20: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 21: South Asia & Pacific Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Figure 22: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Product Type
Figure 23: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Application
Figure 24: MEA Market Value Share (%), Growth Rate (Y-o-Y), and US$ Bn Projection by Country
Know thy Competitors
Competitive landscape highlights only certain players
Complete list available upon request
- FAQs -
What is the present market size of this industry?
The global market for black soldier fly market is valued at USD 0.21 Billion at present in 2022.
What is the future outlook of this market?
The arcade is likely to cross a valuation of USD 3.03 Billion by end of 2032.
What is the anticipated growth rate of this market?
The market is expected to grow with a CAGR of 30.5% in the forecast period.
Who are the key market players?
The key companies in this sector are- • EnviroFlight • LLC • Entomo Farms • Beta Hatch • Nutritional Technologies Group • Hexafly Biotech • Entobel • HiProMine S.A. • Protenga
Which region is dominant in the market?
North American markets led by USA and Canada are dominant in this market.
Why this market has growth potential?
The black soldier fly market has high growth potential due to the rising demand for insect meal in livestock feed.
Black Soldier Fly Market