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Global Black Soldier Fly Market to reach USD 66.85 billion by the end of 2030.

Global Black Soldier Fly Market Size study & Forecast, by Product (Protein Meals, Biofertilizers, Chitin/ Chitosan, Others), by Application (Animal Feed, Agriculture, Pet Food, Pharmaceutical, Cosmetic, Biofuel) and Regional Analysis, 2023-2030

Product Code: OIRAL-45731006
Publish Date: 4-08-2023
Page: 200

Global Black Soldier Fly Market is valued approximately at USD 6.17 billion in 2022 and is anticipated to grow with a healthy growth rate of more than 34.7% over the forecast period 2023-2030. The Black Soldier Fly is a species of fly belonging to the family Stratiomyidae. The larvae of the Black Soldier Fly are voracious decomposers, consuming a wide range of organic waste materials, including food scraps, manure, and agricultural residues. This fly species is highly efficient in converting organic waste into valuable biomass and nutrients. The Black Soldier Fly market is experiencing rapid growth due to factors such as expanding aquaculture industry, rising demand for alternative proteins in animal feed, higher prices of soymeal, government support for insect meal use and increased investment by industry leaders.

The Black Soldier Fly market is propelled by the pet food industry, which seeks sustainable and nutritious ingredients to meet the rising demand for high-quality pet food. The recognition of the benefits of incorporating insect-based ingredients further drives the growth and expansion of the Black Soldier Fly Market. According to Statista, in 2019 the pet food market was valued USD 94.06 billion; in 2022 the market reached USD 135.50 billion and it is anticipated to reach USD 174.80 billion by 2025. As a result, the growing pet food market is anticipated to create the lucrative demand for the market. Additionally, government support for approving insect meal in feed and the adoption of an alternative source of protein create significant opportunities for the Black Soldier Fly market. However, decline in fish consumption, poultry, pork, and beef is stifling the market growth throughout the forecast period of 2023-2030.

The key regions considered for the Global Black Soldier Fly Market study includes Asia Pacific, North America, Europe, Latin America, and Middle East & Africa. Asia Pacific dominated the market in 2022 with largest market share owing to factors such as the availability of abundant waste, including pre-consumer food waste from agriculture and the food and beverage sectors, along with government approvals for the use of Black Soldier Fly products in animal feed. North America is expected to grow significantly during the forecast period, owing to growing aquaculture industry, increased awareness of alternative protein sources for animal feed, and rising fish meal prices in the region.

Major market player included in this report are:
Bio line AgroSciences Ltd.
Fargro ltd
Ander Matt Biocontrol AG
ARBICO Organics,
BioBee Sde Eliyahu
Biological Services.
Dud Utech
Tip Top Bio-Control
Beneficial Insectary, Inc.
Koppert Biological Systems,
Recent Developments in the Market:
Ø In January 2023, Tuggs, a pet food startup, launches its debut product, featuring fresh insect-based dog food. The brand utilizes ingredients like black soldier fly larvae in their pet food pouches and offers a subscription service that provides proportioned meals tailored to a dog’s weight, age, and diet. Dog owners can conveniently submit these details through Tuggs’ website.
Ø In June 2022, Cargill and Innova feed have announced an extension of their partnership for developing and marketing insect meal. The collaboration, now spanning 10 years, brings together Innova feed’s expertise in precision insect ingredients formulation and Cargill’s global animal nutrition capabilities. The aim is to expand the utilization of insect ingredients across various types of animal feed on a larger scale.
Global Black Soldier Fly Market Report Scope:
ü Historical Data – 2020 – 2021
ü Base Year for Estimation – 2022
ü Forecast period – 2023-2030
ü Report Coverage – Revenue forecast, Company Ranking, Competitive Landscape, Growth factors, and Trends
ü Segments Covered – Product, Application, Region
ü Regional Scope – North America; Europe; Asia Pacific; Latin America; Middle East & Africa
ü Customization Scope – Free report customization (equivalent up to 8 analyst’s working hours) with purchase. Addition or alteration to country, regional & segment scope*

The objective of the study is to define market sizes of different segments & countries in recent years and to forecast the values to the coming years. The report is designed to incorporate both qualitative and quantitative aspects of the industry within countries involved in the study.

The report also caters detailed information about the crucial aspects such as driving factors & challenges which will define the future growth of the market. Additionally, it also incorporates potential opportunities in micro markets for stakeholders to invest along with the detailed analysis of competitive landscape and product offerings of key players. The detailed segments and sub-segment of the market are explained below:

By Product:
Protein Meals
Biofertilizers
Chitin/ Chitosan
Others
By Application:
Animal Feed
Agriculture
Pet Food
Pharmaceutical
Cosmetic
Biofuel

By Region:

North America
U.S.
Canada

Europe
UK
Germany
France
Spain
Italy
ROE

Asia Pacific
China
India
Japan
Australia
South Korea
RoAPAC

Latin America
Brazil
Mexico

Middle East & Africa
Saudi Arabia
South Africa
Rest of Middle East & Africa

Chapter 1. Executive Summary
1.1. Market Snapshot
1.2. Global & Segmental Market Estimates & Forecasts, 2020-2030 (USD Billion)
1.2.1. Black Soldier Fly Market, by region, 2020-2030 (USD Billion)
1.2.2. Black Soldier Fly Market, by Product, 2020-2030 (USD Billion)
1.2.3. Black Soldier Fly Market, by Application, 2020-2030 (USD Billion)
1.3. Key Trends
1.4. Estimation Methodology
1.5. Research Assumption
Chapter 2. Global Black Soldier Fly Market Definition and Scope
2.1. Objective of the Study
2.2. Market Definition & Scope
2.2.1. Industry Evolution
2.2.2. Scope of the Study
2.3. Years Considered for the Study
2.4. Currency Conversion Rates
Chapter 3. Global Black Soldier Fly Market Dynamics
3.1. Black Soldier Fly Market Impact Analysis (2020-2030)
3.1.1. Market Drivers
3.1.1.1. Growing aquaculture industry
3.1.1.2. Increasing demand from the animal feed industry
3.1.2. Market Challenges
3.1.2.1. Lack of specific regulations and guidelines
3.1.2.2. Limited acceptance & approvals for BSFL application in human diet
3.1.3. Market Opportunities
3.1.3.1. Government support for approving insect meal in feed
3.1.3.2. Adoption of an alternative source of protein
Chapter 4. Global Black Soldier Fly Market: Industry Analysis
4.1. Porter’s 5 Force Model
4.1.1. Bargaining Power of Suppliers
4.1.2. Bargaining Power of Buyers
4.1.3. Threat of New Entrants
4.1.4. Threat of Substitutes
4.1.5. Competitive Rivalry
4.2. Porter’s 5 Force Impact Analysis
4.3. PEST Analysis
4.3.1. Political
4.3.2. Economic
4.3.3. Social
4.3.4. Technological
4.3.5. Environmental
4.3.6. Legal
4.4. Top investment opportunity
4.5. Top winning strategies
4.6. COVID-19 Impact Analysis
4.7. Disruptive Trends
4.8. Industry Expert Perspective
4.9. Analyst Recommendation & Conclusion
Chapter 5. Global Black Soldier Fly Market, by Product
5.1. Market Snapshot
5.2. Global Black Soldier Fly Market by Product, Performance – Potential Analysis
5.3. Global Black Soldier Fly Market Estimates & Forecasts by Product 2020-2030 (USD Billion)
5.4. Black Soldier Fly Market, Sub Segment Analysis
5.4.1. Protein Meals
5.4.2. Biofertilizers
5.4.3. Chitin/ Chitosan
5.4.4. Others
Chapter 6. Global Black Soldier Fly Market, by Application
6.1. Market Snapshot
6.2. Global Black Soldier Fly Market by Application, Performance – Potential Analysis
6.3. Global Black Soldier Fly Market Estimates & Forecasts by Application 2020-2030 (USD Billion)
6.4. Black Soldier Fly Market, Sub Segment Analysis
6.4.1. Animal Feed
6.4.2. Agriculture
6.4.3. Pet Food
6.4.4. Pharmaceutical
6.4.5. Cosmetic
6.4.6. Biofuel
Chapter 7. Global Black Soldier Fly Market, Regional Analysis
7.1. Top Leading Countries
7.2. Top Emerging Countries
7.3. Black Soldier Fly Market, Regional Market Snapshot
7.4. North America Black Soldier Fly Market
7.4.1. U.S. Black Soldier Fly Market
7.4.1.1. Product breakdown estimates & forecasts, 2020-2030
7.4.1.2. Application breakdown estimates & forecasts, 2020-2030
7.4.2. Canada Black Soldier Fly Market
7.5. Europe Black Soldier Fly Market Snapshot
7.5.1. U.K. Black Soldier Fly Market
7.5.2. Germany Black Soldier Fly Market
7.5.3. France Black Soldier Fly Market
7.5.4. Spain Black Soldier Fly Market
7.5.5. Italy Black Soldier Fly Market
7.5.6. Rest of Europe Black Soldier Fly Market
7.6. Asia-Pacific Black Soldier Fly Market Snapshot
7.6.1. China Black Soldier Fly Market
7.6.2. India Black Soldier Fly Market
7.6.3. Japan Black Soldier Fly Market
7.6.4. Australia Black Soldier Fly Market
7.6.5. South Korea Black Soldier Fly Market
7.6.6. Rest of Asia Pacific Black Soldier Fly Market
7.7. Latin America Black Soldier Fly Market Snapshot
7.7.1. Brazil Black Soldier Fly Market
7.7.2. Mexico Black Soldier Fly Market
7.8. Middle East & Africa Black Soldier Fly Market
7.8.1. Saudi Arabia Black Soldier Fly Market
7.8.2. South Africa Black Soldier Fly Market
7.8.3. Rest of Middle East & Africa Black Soldier Fly Market

Chapter 8. Competitive Intelligence
8.1. Key Company SWOT Analysis
8.1.1. Company 1
8.1.2. Company 2
8.1.3. Company 3
8.2. Top Market Strategies
8.3. Company Profiles
8.3.1. Bio line AgroSciences Ltd.
8.3.1.1. Key Information
8.3.1.2. Overview
8.3.1.3. Financial (Subject to Data Availability)
8.3.1.4. Product Summary
8.3.1.5. Recent Developments
8.3.2. Fargro ltd
8.3.3. Ander Matt Biocontrol AG
8.3.4. ARBICO Organics,
8.3.5. BioBee Sde Eliyahu
8.3.6. Biological Services.
8.3.7. Dud Utech
8.3.8. Tip Top Bio-Control
8.3.9. Beneficial Insectary, Inc.
8.3.10. Koppert Biological Systems,
Chapter 9. Research Process
9.1. Research Process
9.1.1. Data Mining
9.1.2. Analysis
9.1.3. Market Estimation
9.1.4. Validation
9.1.5. Publishing
9.2. Research Attributes
9.3. Research Assumption

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Data Collection:
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Market driving trends and favorable economic conditions
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Anticipated opportunities for growth and development
Technological advancements and projected developments in the market
Consumer spending trends and dynamics
Shifts in consumer preferences and behaviors.
The current state of raw materials and trends in supply versus pricing
Regulatory landscape and expected changes or developments.
The existing capacity in the market and any expected additions or expansions up to the end of the forecast period.
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