Leading global market research firm, Meticulous Research®, announces the release of its comprehensive research report titled 'Middle East & Africa Black Soldier Fly Market by Product (Protein Meals, Whole Dried Larvae, Biofertilizers (Frass), Larvae Oil, Other BSF Products); Application (Animal Feed, Agriculture, Pet food, Other Applications); and Country – Forecast to 2033.'
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In this latest publication, Meticulous Research® forecasts that the Middle East & Africa black soldier fly market is poised to achieve a noteworthy valuation of $47.88 million by 2033, exhibiting a robust CAGR of 20.2% from 2023 to 2033. The growth trajectory of this market is primarily driven by the enthusiastic adoption of insect-based feeds by feed processors and farmers, heightened demand within the animal feed industry for alternative proteins amidst escalating fish and soy meal prices, and the burgeoning aquaculture sector. Despite these positive indicators, the market may encounter hindrances due to limited acceptance and approvals for Black Soldier Fly Larvae (BSFL) incorporation into human diets.
Diving into the intricacies of the market, the report categorizes the Middle East & Africa black soldier fly market based on product types (whole dried larvae, oil, protein meals, biofertilizers (frass), and other BSF products), applications (agriculture, animal feed, pet food, and other applications), and geography (Saudi Arabia, United Arab Emirates (UAE), South Africa, and Rest of the Middle East & Africa). The analysis extends to evaluating industry competitors and scrutinizing market dynamics at the country level.
In 2023, among the various product segments investigated, the protein meals sector is anticipated to seize the largest market share in the Middle East & Africa black soldier fly market. This dominance is fueled by the surging demand for protein meals within the animal feed industry, amplified prices of fish meal and soy meal, and governmental support and approvals for insect meal integration in animal feed.
Within the spectrum of applications, the animal feed segment is positioned to assert dominance over the Middle East & Africa black soldier fly market. The substantial market share of this segment can be attributed to the increasing demand for meat products, subsequent surge in the need for protein-rich animal feed, escalating soy meal prices, and the widespread adoption of BSF meals within the animal feed sector.
Examining the geographical landscape, South Africa emerges as the frontrunner with the highest projected CAGR during the forecast period. The market growth in South Africa is propelled by trends favoring alternative protein adoption, heightened demand for aquaculture and animal feed, and the unwavering willingness of feed processors and farmers to incorporate insects into their feeds.
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Key Players Making Strides
The Middle East & Africa black soldier fly market boasts a moderately competitive scenario, with a blend of large and small-sized global, regional, and local players. Key players at the forefront of driving market dynamics include BioflyTech (Spain), Entoprotech Ltd (Israel), PROTICYCLE (South Africa), KIMMY FARM (Vietnam), and NovFeed (T) Limited (Tanzania).
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Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
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