With the rise of the aquaculture business, fishmeal supplies have become increasingly limited, generating price volatility in the ingredient. Concerns about soybean meal's relationship to deforestation are also influencing industry's hunt for sustainable alternatives, resulting in a surge in interest in insect-derived protein.
Adroit Market Research study on the global market for Black Soldier Fly offers a holistic view of the industry from 2020 to 2028 as forecast period, including factors such as market drivers, limitations, opportunities, threats and regulatory overview. The market has been analyzed from 2018 to 2028, with a base year estimate of 2019 and a projection from 2020 to 2028. The report covers the current status and potential characteristics of the market at both the global and the country level. Moreover, the report also assesses market competition with Porter's analysis of five strengths and places leading players on the basis of their product range, regional presence, strategic initiatives and overall sales. Prominent players in the global Black Soldier Fly market have been analyzed in depth.
According to the report, the Asia-Pacific region held the highest proportion of the worldwide BSF market in 2019. The majority of the share is due to rising meat and seafood consumption, the country's expanding aquaculture industry, developing awareness of BSF as an alternative protein source for use in animal feed, the absence of legislative barriers, and an increase in the price of fishmeal.
Key player in this industry includes
Protix B.V., Enterra Feed Corporation, InnovaFeed, EnviroFlight, Bioflytech, Entobel Holding PTE. Ltd., Entofood, Sfly, Nutrition Technologies Group
Key Segments of the Global Black Soldier Fly Market
Type Overview, 2018-2028 (USD Billion)
- Protein Meal
- Bio fertilizers
- Whole Dried Larvae
- Larvae Oil
Application 2018-2028 (USD Billion)
- Animal Feed
- Pet Food
Regional Overview, 2018-2028 (USD Billion)
- Rest of Europe
- Rest of Asia-Pacific
Middle East and Africa
- South Africa
- Rest of Middle East and Africa
- Rest of South America