Black Soldier Fly Market Is Set To Witness Substantial Growth During The Forecast Period 2022-2032: Fact.MR

Rockville, United States, 2022-Aug-17 — /EPR Network/ —

Increasing demand for farmed fish has led to a rise in fish oil and fish meal prices. Insect feed serves as a viable and more profitable protein-rich aqua feed alternative thus benefiting the growth of the market with the expansion of the aquaculture industry.

Consumer-oriented demands in meat quality have motivated the meat producers to concentrate on the nutritional aspects of livestock rearing as it controls several aspects of meat quality. As a dry product, black soldier fly contains 50% to 80% of protein, which is added to the animal nutrition value. It also contains amino acids, which are highly digestible for animals. Thus, increased efforts to upgrade the quality of meat through nutrient-infused feed will proliferate sales for insect for use in animal feed.

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US and Canada Black Soldier Fly Market Outlook

According to U.N., the worldwide livestock industry is responsible for 14.5% of global greenhouse emissions. The production of insects is known to be around 20 times more efficient as a protein source as it produces 80 times less methane. Thus, demand is expected to be steady with increasing government’s efforts in the US towards including sustainable products for animal feed.

Demand for black soldier fly in U.S. and Canada market will be led by highlighted manufacturers’ interest in increasing their market share in this industry. With increased focus on the potential of insects for animal feed in the near future, many manufacturers in the U.S. have increased their production capacity and many are in process of increasing.

Europe Demand Outlook for Black Soldier Fly

The European market has undergone a rapid growth for edible insects during the last years, especially after the EU commission allowed the use of insects in feed for pets and aquaculture animals starting from July 2017. Several start-ups, small/medium enterprises, and a few large-scale companies were founded across Europe with the aim of improving insect rearing methods which attracted the interest of important investors.

The International Platform of Insects for Food and Feed, an EU non-profit organization, promotes the use of insects and insect-derived products as a source of nutrients for human consumption and animal feed. In 2019, its member companies raised US$ 685 Mn to produce more than 6000 tons of insects in 2019. Thus, increasing commercialization of edible insect for animal feed in Europe is expected to benefit the market growth of the black soldier fly market.

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Who are the Key Manufacturers and Suppliers of Black Soldier Fly?

Some of the leading manufacturers and suppliers operating in the black soldier fly market include AgriProtein Holdings Ltd

  • EnviroFlight
  • LLC
  • Entomo Farms
  • Beta Hatch
  • Nutritional Technologies Group
  • Hexafly Biotech
  • Entobel
  • HiProMine S.A.
  • Protenga
  • Mutatec
  • nextProtein
  • Enterra Feed Corporation.

Key Segments

By Product Type,

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

By Application,

  • Animal Feed
  • Pet Food
  • Agriculture
  • Others

By Region

  • North America
    • US & Canada
  • Latin America
    • Brazil, Mexico, Others
  • Western Europe
    • EU5
    • Nordics
    • Benelux
  • Eastern Europe
  • Asia Pacific
    • Australia and New Zealand (ANZ)
    • Greater China
    • India
    • ASEAN
    • Rest of Asia Pacific
  • Japan
  • Middle East and Africa
    • GCC Countries
    • Other Middle East
    • North Africa
    • South Africa
    • Other Africa

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About Fact.MR
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