Insects contain a lot of protein, and they produce it with little environmental impact. Because they can consume a variety of substrates, including organic waste streams, mass-produced insect species like the black soldier fly have drawn a lot of attention. The creation of products like protein meal, a less expensive alternative protein source to fishmeal or soybean meal for pig, poultry, and fish feeds, has quickly increased commercial opportunities due to BSF's capacity to transform organic waste into high-quality nutrients. The black soldier fly market is being driven by the increase in global meat demand which was affected by the pandemic. According to the FDA study, when soybean and fishmeal were replaced with BSF larvae meal in proportions ranging from 10 to 56%, the broiler quails and chickens produced meat with a satisfactory taste, aroma, and nutritional composition. Van Heugten, Martinez, McComb, and Koutsos (2019) demonstrated that BSF oil is a valuable product for nursery pigs in this experiment.

According to Marketlook Consulting’s research report “Global Black Soldier Fly Market Analysis, 2021”, the Global Black Soldier Fly market is anticipated to grow at a CAGR of 29.2% during 2022-29. The market would reach USD 2,467.8 Mn by 2029.

Based on Product Type, there are Protein Meal, Biofertilizers (Frass), Whole-Dried Larvae, Larvae Oil, and Others. The protein meal segment is anticipated to experience rapid growth in both value and volume over the forecast period. Increasing prices for fish meals and soy meal, growing demand for alternative protein meals from producers of animal feed, and government support and approval of an insect meal are some of the key factors driving this market.

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Based on the Application Type, the Black Soldier Fly market is divided into Animal Feed, Agriculture, Pet Food, and Others. During the forthcoming years, the segment that will dominate the global black soldier fly market is anticipated to be animal feed. The significant market share is primarily attributed to the expanding population and the quickly rising demand for meat products.

“Global Black Soldier Fly Market Analysis, 2021” provides comprehensive qualitative and quantitative insights on the industry potential, key factors impacting sales and purchase decisions, hotspots, and opportunities available for Black Soldier Fly providers across the Globe. Moreover, the report also encompasses the key strategic imperatives for success for competitors along with strategic factorial indexing measuring competitors’ capabilities on 16 parameters. This will help companies in the formulation of Go to Market Strategies and identifying the blue ocean for its offerings.

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Europe Dominated the Market

Geographically, it is predicted that Europe will hold the largest market share for black soldier flies in coming years. The significant market share is primarily attributed to the expanding aquaculture sector, growing interest in alternative sources of protein for use in animal feed, and rising fish meal prices. During the forecast period, this region is anticipated to grow at the fastest CAGR as stated in the Marketlook Consulting research report “Global Black Soldier Fly Market Analysis, 2021”.

According to Marketlook Consulting’, the key players with a considerable market share in the global Black Soldier Fly market are Protenga Pte Ltd, nextProtein, Nutrition Technologies Group, Entofood, Entobel Holding PTE. Ltd., Bioflytech, EnviroFlight LLC, InnovaFeed, Enterra Feed Corporation, Protix B.V.

Market Segmentation:

1. By Product Type (Protein Meal, Biofertilizers (Frass), Whole-Dried Larvae, Larvae Oil, Others)
2. By Application Type (Animal Feed, Agriculture, Pet Food, Others)
3. By Region (North America, Europe, Asia-Pacific, Latin America, Middle East and Africa)
4. By Company (Protenga Pte Ltd, nextProtein, Nutrition Technologies Group, Entofood, Entobel Holding PTE. Ltd., Bioflytech, EnviroFlight LLC, InnovaFeed, Enterra Feed Corporation, Protix B.V.)

Key questions answered in the study:

1. What are the current and future trends of the Black Soldier Fly industry?
2. How the industry has been evolving in terms of product, and application areas?
3. How the competition has been shaping across the countries followed by their comparative factorial indexing?
4. What are the key growth drivers and challenges for the Black Soldier Fly industry?
5. What is the customer orientation, purchase behavior, and expectations from the Black Soldier Fly firms across various regions?

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