Black Soldier Fly Market

Black Soldier Fly Market is segmented by Product (Protein Meals, Biofertilizers {Frass}, Chitin/ Chitosan, Others {Cocoons, Pupa}), Application (Animal Feed, Agriculture, Pet Food, Pharmaceutical, Cosmetic, Biofuel), and Geography.

  • Report ID : MD2789
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  • Pages : 220
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  • Tables : 70
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  • Formats :

The Black Soldier Fly Market is anticipated to reach a market size value of USD 3.33 billion by 2028 at a CAGR of 34.7% during the forecast period of 2021 to 2018.

Black soldier fly belongs to the family of Stratiomyidae or to over 2,700 species of flies. It is a common specie of the same name which is often associated in aiding the decomposition of organic matter like plant material and animal waste especially in the outdoors and livestock industry. The growth of the black soldier fly market is mainly attributed to factors such as, increasing demand for animal products globally, developing industry of aquaculture, high demand for alternative proteins from the animal feeds industry because of the increasing costs of soy meal, government support on incorporating insect meal in livestock feed.

The Impact of COVID-19 on the Black Soldier Fly Market

Majority of the industries will have to adapt to the changes that will be imposed upon them by their governments and adopt strategic ways to elevate their game in the market. Containing the widespread of the virus is a difficult challenge to all of the countries because many sectors will have to compromise and deal with the effects in the most advantageous way possible. A solid pull back on the growth of the black soldier fly market is the disruption of supply chain since manufacturing and distribution of key players or companies are being limited, if not, controlled by governments through imposing lock downs and halting travels across borders.

The real challenge lies in the disruption in raw materials supply because it is negatively affecting manufacturers since travel, transport of raw materials, and non-essential trade has been put off in many countries. This in turn affected production, causing fewer volume of product sales. Black Soldier Fly suppliers have also experienced repercussion because imports and exports in almost all countries have been restricted. The lock downs have caused a delay in the operations and facility shutdowns became a real challenge that these key players needed to face. Some raw materials needed for the production can only actually be acquired through importing and suppliers in turn, were having a hard time exporting these supplies due to border restrictions and hold up.

Moreover, since COVID-19 are believed by many to have spread because of consuming bats, majority of the population built up a fear and delusion that consuming animal-based products can further transmit the virus. Exportation of chicken, beef, and pork meat have been very challenging to sellers and distributors alike because there is already an emerging threat and stigma against animal-based products.

Key Findings in the Black Soldier Fly Market

In terms of product type, the protein meals segment is projected to have the fastest CAGR during the forecast period. The major drivers of growth of this market are, high demand from animal feed manufacturers of alternative protein meals, price hike of fish meal and soy meal, government initiatives to support and approve insect meal. Additionally, there are fish feeding trials conducted showing the success of black soldier market as substitute for fish meal in aqua-feeds

In terms of application, the animal feed segment is projected to have the largest share in the global market in 2020. this is due to growth factors such as, ballooning of the world population, and the high demand for meat products along with application of alternative sources of proteins like insects used in animal feeds.

Regional Market Analysis

In terms of regional segment, Asia Pacific is seen to have the largest share in the market in 2020. This major growth is due to factors like, high consumption of meat and seafood, aquaculture industry is flourishing, increasing awareness of the black soldier fly market as an alternative source of protein for animal feeds, and highest costs of fish meal. On the other hand, Europe is projected to have the fastest CAGR during the forecast period of 2021 to 2028. the growth is mainly attributed to factors such as, increasing demand for animal feeds that are rich in protein, huge amount of waste that includes pre-consumer food waste derived from agriculture, food and beverage industries, government support on the application of black soldier fly in animal feeds and pet foods, emerging policies that are beneficial to the black soldier fly market.

Key Players

Based on an extensive assessment, these major key players on the black soldier fly market have a competitive landscape and utilizing key strategic developments to lead the industry over the past years until now. These companies are, 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).

Report Highlights
• Historical data available (as per request)
• Estimation/projections/forecast for revenue and unit sales (2021 – 2028)
• Data breakdown for every market segment (2021 – 2028)
• Gross margin and profitability analysis of companies
• Price analysis of each product type
• Business trend and expansion analysis
• Import and export analysis
• Competition analysis/market share
• Supply chain analysis
• Client list and case studies
• Market entry strategy

Industry Segmentation and Revenue Breakdown

Product Type Analysis (Revenue, USD Million, 2021 - 2028)

• Protein Meal
• Biofertilizers (Frass)
• Whole Dried Larvae
• Larvae Oil
• Others (Live, Larvae, Adult, Cocoon, & Pupa)

Application Analysis (Revenue, USD Million, 2021 - 2028)

• Animal Feed
• Agriculture
• Pet Food
• Others

Region Analysis (Revenue, USD Million, 2020 – 2028)

• United States
• Canada
• Mexico
• France
• Germany
• Italy
• Spain
• United Kingdom
• Russia
• China
• India
• Philippines
• Malaysia
• Australia
• Austria
• South Korea
• UAE
• Qatar
• Saudi Arabia
• Japan
• Africa
• Rest of World

Available Versions:
• United States Black Soldier Fly Industry Research Report
• Europe Black Soldier Fly Industry Research Report
• Asia Pacific Black Soldier Fly Industry Research Report

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