Global Black Soldier Fly Market to be Worth $3.96 Billion by 2033

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Dublin, July 22, 2022 (GLOBE NEWSWIRE) -- The "Black Soldier Fly Market by Product, by Application, and Geography - Global Forecast to 2033" report has been added to ResearchAndMarkets.com's offering.

The research report 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, 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.

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

Key Topics Covered:

1. Introduction

2. Research Methodology

3. Executive Summary

4. Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Rising Global Meat Demand
4.2.2. Growing Aquaculture Industry
4.2.3. Increasing Demand from the Animal Feed Industry for Alternative Proteins Due to Rising Prices of Fish and Soy Meal
4.2.4. Increasing Government Support for the Use of Insect Meal in Livestock Feed
4.3. Restraints
4.3.1. Non-Standardized Regulatory Framework Across the Europe
4.3.2. Limited Acceptance and Approvals for BSFL to be Incorporated into the Human Diet
4.4. Opportunity
4.4.1. Expansion in Emerging & 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 from 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. Company Profiles

14. Emerging Start-ups

Companies Mentioned

• Protix B.V.

• Enterra Feed Corporation

• InnovaFeed

• EnviroFlight LLC

• Bioflytech

• Entobel Holding PTE. Ltd.

• Entofood

• Sfly

• Hexafly

• F4F

• Nutrition Technologies Group

• nextProtein

• Protenga Pte Ltd

For more information about this report visit https://www.researchandmarkets.com/r/c7x2j3

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