According to the research report titled, ‘Black Soldier Fly Market by Product (Protein Meals, Whole Dried Larvae, Biofertilizers {Frass}, Larvae Oil, Others {Cocoons, Pupa}), by Application (Aquafeed, Animal Feed, Agriculture, Pet Food), and Geography - Global Forecast to 2033,’ the black soldier fly market is projected to reach $3.96 billion by 2033, at a CAGR of 31.0% during the forecast period 2024-2033, while in terms of volume, the market is expected to reach 8.23 million tons by 2033, at a CAGR of 40.4% from 2024 to 2033. The report provides an in-depth analysis of the black soldier fly market across five major regions, emphasizing the current market trends, market sizes, recent developments, and forecasts till 2033.Growing Aquaculture Industry Driving the Demand for Black Soldier Fly
Succeeding extensive secondary and primary research and an in-depth analysis of the market scenario, the report conducts the impact analysis of the key industry drivers, restraints, opportunities, challenges, and trends. The growth of the black soldier fly 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 the globe and limited acceptance & approvals for BSFL to be incorporated into the human diet hinder the overall black soldier fly market growth. Furthermore, the availability of economical substitutes, the high cost of skilled labor, and the risk of disease transmission from BSF challenge the growth of this market.
The key players operating in the black soldier fly market are Protix B.V. (Netherlands), InnovaFeed SAS (France), EnviroFlight, LLC (U.S.), Nutrition Technologies Group (Singapore), Bioflytech S.L. (Spain), Entobel Holdings Pte. Ltd. (Singapore), Entofood Sdn Bhd (Malaysia), SFly Comgraf SAS (France), Hexafly (Ireland), F4F SpA (Chile), Protenga Pte Ltd (Singapore), and NextProtein (France).
The black soldier fly market is segmented by product (protein meal, whole dried larvae, biofertilizers (frass), larvae oil, and other BSF products), application (aquafeed, animal feed, agriculture, pet food, and other applications), and geography. The study also evaluates industry competitors and analyzes the country-level markets.
Based on product, the black soldier fly market is segmented into into protein meal, whole dried larvae, biofertilizers (frass), larvae oil, and other BSF products. In 2024, the protein meal segment is expected to account for the largest share of 57.4% of the black soldier fly market. The large market share of this segment is mainly attributed to the increasing demand for BSF protein meal from the animal feed industry due to the rising awareness & demand for sustainable proteins, the rising prices of fish and soy meals, and supportive government initiatives aimed at promoting the use of insect meal in animal feed. In addition, the protein meal segment is expected to register the highest CAGR during the forecast period.
Based on application, the black soldier fly market is segmented into aquafeed, animal feed, agriculture, pet food, and other applications. In 2024, the aquafeed segment is expected to account for the largest share of 44.3% of the black soldier fly market. This segment's large share is mainly attributed to early regulatory approval of BSF for this application, the increasing adoption of fish meals, and volatile fish meal prices. However, the animal feed segment is expected to register the highest CAGR during the forecast period.
An in-depth geographic analysis of the industry provides detailed qualitative and quantitative insights into the five major regions (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa) and the coverage of major countries in each region. In 2024, Europe is expected to account for the largest share of 55.3% of the black soldier fly market. Europe's large market share is attributed to the growing aquaculture industry, rising awareness of alternative protein sources for use in animal feed, and increased fish meal prices.
Key Questions Answered in the Report:
- What is the current revenue generated by black soldier flies globally?
- At what rate is the black soldier fly demand projected to grow for the next 7-9 years?
- What are the historical market sizes and growth rates of the black soldier fly market?
- What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
- Which segments in terms of product and application are expected to create major traction for the manufacturers in this market?
- What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the black soldier fly market?
- Who are the major players in the black soldier fly market? What are their specific product offerings in this market?
- What are the recent strategic developments in the black soldier fly market? What are the impacts of these strategic developments on the market?
Scope of the Report:
Black Soldier Fly Market Assessment - by Product
- Protein Meal
- Whole Dried Larvae
- Biofertilizers (Frass)
- Larvae Oil
- Other BSF Products
Black Soldier Fly Market Assessment - by Application
- Aquafeed
- Animal Feed
- Agriculture
- Pet Food
- Other Applications
Black Soldier Fly Market Assessment - by Geography
- North America
- U.S.
- Canada
- Europe
- Netherlands
- France
- Germany
- Finland
- Denmark
- Belgium
- Rest of Europe
- Asia-Pacific
- China
- South Korea
- Japan
- Malaysia
- Vietnam
- Thailand
- Australia
- India
- Rest of Asia-Pacific
- Latin America
- Middle East & Africa
Table of Contents
1. Introduction
2. Research Methodology
3. Executive Summary
4. Market Insights
5. BSF Processing
6. Cost Analysis
7. Opportunity Analysis: BSF-Derived Chitin and Chitosan
8. Global Black Soldier Fly Market Assessment - by Product
9. Global Black Soldier Fly Market Assessment - by Application
10. Black Soldier Fly Market Assessment - by Geography
11. Competitive Landscape
12. Company Profiles
13. Emerging Startups
14. Appendix
List of Tables
List of Figures
Companies Mentioned
- Protix B.V. (Netherlands)
- InnovaFeed SAS (France)
- EnviroFlight LLC (U.S.)
- Nutrition Technologies Group (Singapore)
- Bioflytech S.L. (Spain)
- Entobel Holdings Pte. Ltd. (Singapore)
- Entofood Sdn Bhd (Malaysia)
- SFly Comgraf SAS (France)
- Hexafly (Ireland)
- F4F SpA (Chile)
- Protenga Pte Ltd (Singapore)
- NextProtein (France)
