Dublin, June 03, 2021 (GLOBE NEWSWIRE) -- The "Black Soldier Fly Market by Product (Protein Meals, Biofertilizers {Frass}, Chitin/ Chitosan, Others {Cocoons, Pupa}), Application (Animal Feed, Agriculture, Pet Food, Pharmaceutical, Cosmetic, Biofuel), and Geography- Global Forecast to 2030" report has been added to ResearchAndMarkets.com's offering.
The Global Black Soldier Fly Market is expected to reach $3.4 billion by 2030, at a CAGR of 34.7% during the forecast period of 2020 to 2030.
The increasing global meat demand, growing aquaculture industry, increasing demand from the animal feed industry for alternative proteins due to 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 the factors driving the black soldier fly market.
However, factors such as non-standardized regulatory framework across Europe hindering the growth of the overall black soldier fly market.
Based on product type, in terms of value, the protein meals segment accounted for the largest share of the global black soldier fly market in 2020. The large share of this market is mainly attributed to the increasing demand for protein meals from animal feed manufacturers, increasing fish and soy meal prices, and government support and approval for an insect meal to be used in animal feed.
Based on the application, animal feed is estimated to witness rapid growth during the forecast period. The fast growth of this market is mainly attributed to the growing demand for animal-derived products and subsequent increase in the demand for protein-rich animal feed, rising soy meal prices, and government approval for the BSF to be used as a feed ingredient.
Europe is expected to witness rapid growth during the forecast period due 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 and pet food; and presence of supportive policies for BSF farming.
The report includes a competitive landscape based on an extensive assessment of the key strategic developments adopted by leading market participants in the industry over the past three years (2018-2021).
Companies Mentioned
- AgriProtein (A Part of Insect Technology Group) (England)
- Protix B.V. (Netherlands)
- Enterra Feed Corporation (Canada)
- InnovaFeed (France)
- EnviroFlight LLC (U.S.)
- Bioflytech (Spain)
- Entobel Holding PTE. Ltd. (Singapore)
- Entofood (Malaysia)
- Sfly (France)
- Hexafly (Ireland)
- F4F (Chile)
- Nutrition Technologies Group (Malaysia)
- nextProtein (France)
- Protenga Pte Ltd (Singapore)
Key Topics Covered:
1 Introduction
2 Research Methodology
3 Executive Summary
4 Market Insights
4.1. Introduction
4.2. Drivers
4.2.1. Rising Global Meat Demand
4.2.2. Growing Aquaculture Industry
4.2.3. Increasing Demand from Animal Feed Industry for Alternative Proteins Due to Rising Prices of Fish and Soy Meal
4.2.4. Increasing Government Support for the Use of Insect Meal in Livestock Feed
4.3. Restraints
4.3.1. Non-standardized Regulatory Framework Across Europe
4.4. Opportunity
4.4.1. Expansion in Emerging & Developed Economies
4.5. Challenges
4.5.1. Pricing Competition from Parent Industries
4.6. Impact of COVID-19 on the Black Soldier Fly Market
4.7. Regulatory Analysis
4.8. Pricing Analysis, by Product
4.8.1. Introduction
4.8.2. Protein Meal
4.8.3. Biofertilizer (Frass)
4.8.4. Whole Dried Larvae (Retail)
4.8.5. Larvae Oil
4.8.6. Raw Chitin
4.8.7. Chitin/Chitosan
4.8.8. Others (Live- Larvae, Adult, Cocoon, Pupa)
5 Opportunity Analysis: BSF-Derived Chitin and Chitosan
5.1. BSF-Derived Chitin Trends
5.2. Chitin/Chitosan
6 Global Black Soldier Fly Market, by Product
6.1. Introduction
6.2. Protein Meals
6.3. Whole Dried Larvae
6.4. Biofertilizers (Frass)
6.5. Larvae Oil
6.6. Other BSF Products
7 Global Black Soldier Fly Market, by Application
7.1. Introduction
7.2. Animal Feed
7.3. Agriculture
7.4. Pet Food
7.5. Other Applications
8 Black Soldier Fly Market, by Region
9 Competitive Landscape
9.1. Introduction
9.2. Competitive Benchmarking
10 Company Profiles
10.1. Business Overview
10.2. Funding Received
10.3. Product Portfolio
10.4. Strategic Developments
For more information about this report visit https://www.researchandmarkets.com/r/ay0kb7