Global Black Soldier Fly Market, By Product (Protein Meals, Biofertilizers {Frass}, Chitin/ Chitosan, Others), Application (Animal Feed, Agriculture, Pet Food, Pharmaceutical, Cosmetic, Biofuel), Country (U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2029.
Market Analysis and Insights of Black Soldier Fly Market
Data Bridge Market Research analyses that the black soldier fly market will project a compound annual growth rate (CAGR) of 34.7% during the forecast period of 2022-2029 and is likely to reach USD 49.63 billion in 2029.
Black soldier fly bugs (BSFL) are used to compost waste or convert the waste into animal feed. Fly grubs are among the most operative animals at converting biomass into feed.
Increasing global meat demand, growing aquaculture industry, increasing demand from the animal feed industry for alternative proteins is the major factor accelerating the growth of the black soldier fly market. Furthermore, rising prices of soymeal, growing government support for the use of insect meal in livestock feed, and growing investment by key players in the BSF industry are also expected to drive the growth of the black soldier fly market. However, decline in fish consumption, poultry, pork, and beef restrains the black soldier fly market, whereas, non-standardized regulatory framework across Europe will challenge market growth.
In addition, growing government support to approve the use of insect meal in feed will create ample opportunities for the black soldier fly market.
This black soldier fly market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on black soldier fly market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Black Soldier Fly Market Scope and Market Size
The black soldier fly market is segmented on the basis of product and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on the product, the black soldier fly market is segmented into protein meal, biofertilizers, frass, whole dried larvae, larvae oil, others. Others are further segmentation into live, larvae, adult, cocoon, and pupa.
- Based on the application, the black soldier fly market is segmented into animal feed, agriculture, pet food, pharmaceutical, cosmetic, and biofuel.
Black Soldier Fly Market Country Level Analysis
The global black soldier fly market is analyses and market size, volume information is provided by country by product and application as referenced above.
The countries covered in the black soldier fly market report are U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
Europe region is undergoing substantial gains and is projected to score the highest compound annual growth rate (CAGR) during the forecast period. This is due to the high demand for protein-rich animal feed; large supply of waste, including pre-consumer food waste from agriculture. Asia-Pacific is showing one of the fastest CAGR for black soldier fly market owing to the high demand for protein-rich animal feed; large supply of waste, including pre-consumer food waste from agriculture and food and beverage sectors; government approval for BSF products to be used in animal feed.
The country section of the black soldier fly market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Black Soldier Fly Market Share Analysis
The black soldier fly market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to black soldier fly market.
Some of the major players operating in the black soldier fly market report are Applied Bio-nomics Ltd., Biobest, Bioline AgroSciences Ltd., Fargro ltd, Andermatt Biocontrol AG, ARBICO Organics, BioBee Sde Eliyahu, Biological Services., Dudutech, NATURAL INSECT CONTROL, Tip Top Bio-Control, Beneficial Insectary, Inc., Bionema Limited, Koppert Biological Systems, Bionema, Vegalab SA, STK bio-ag technologies, Andermatt Biocontrol AG, Koppert Biological Systems, Corteva, and Bayer AG among other.
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