Black Soldier Fly Market Size Worth $4.12 Billion By 2032 – Polaris Market Research
The global black soldiers fly market size is expected to reach USD 4.12 billion by 2032, according to a new study by Polaris Market Research. The report “Black Soldiers Fly Market Share, Size, Trends, Industry Analysis Report, By Product Type (Protein Meal, Biofertilizers, Whole Dried Larvae, Larvae Oil, Others); By Application; By Region; Segment Forecast, 2023 – 2032” gives a detailed insight into current market dynamics and provides analysis on future market growth.
The rise in research and development activities on the black soldier fly to understand its birth and nutritional value and to explore the health benefits associated with this fly has created new growth potential for the market. For instance, a 2022 study published by PubMed aimed to identify the effective black soldier fly with substrates, including restaurant waste, fruit waste, fish waste, and commercial tilapia food, in feeding Nile tilapia. The larva fed by restaurant waste had the highest weight and length. The study revealed the effectiveness of black soldier fly as a feed in aquaculture compared to traditional commercial methods due to its nutritional profile. This may further drive its awareness among fish producers, which will fuel the demand in the study period.
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Companies are working on collaborations and partnerships to work collectively to gain a competitive advantage and build new products into the market. For instance, BioMar, & Agronutris, entered the partnership in May 2023 to develop the next generation of black soldier fly meals with a focus on the needs of the aquaculture industry. This ongoing research and development activity to innovate effective insect feed for aquaculture involves the use of black soldier fly larvae in product formulations.
The increase in studies focused on finding the nutritional potential of the black soldier fly and its process of converting various wastes into nutritional feed and fertilizers is enhancing consumer awareness and driving production. A 2023 study conducted on Australian farmers revealed that the farmers are willing to adopt black soldier flies due to higher organic carbon & NPK levels. Organic farmers are willing to pay more than conventional farmers. According to the findings, farmers agreed that the BSF-derived fertilizers can increase the environmental sustainability of the agricultural sector and that they would be interested in utilizing the product. This showcases the increasing awareness about organic fertilizers like black soldier fly among farmers, driving their demand in the future.
Black Soldier Fly Market Report Highlights
- Protein Meal segment is anticipated to witness the highest growth in the coming years due to its capabilities in providing healthy feed for animals.
- Animal Feed segment accounted for the largest market share owing to its cost effectiveness compared to other options.
- APAC is projected to register the largest growth rate in the study period owing to growing waste in the region and sustainable waste management initiatives.
- Europe is expected to have the fastest growth owing to the shift in consumer preferences towards sustainable proteins.
- The global players include AgriProtein, Bioflytech, Entofood, Nutrition Technologies Group, Protenga, Protix B.V. & Sfly.
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Polaris Market Research has segmented the black soldier fly market report based on product type, application, and region:
Black Soldier Fly, Product Type Outlook (Revenue – USD Billion, 2019 – 2032)
- Protein Meal
- Biofertilizers (Frass)
- Whole Dried Larvae
- Larvae Oil
- Others (Live, Larvae, Adult, Cocoon, & Pupa)
Black Soldier Fly, Application Outlook (Revenue – USD Billion, 2019 – 2032)
- Animal Feed
- Pet Food
Black Soldier Fly, Regional Outlook (Revenue – USD Billion, 2019 – 2032)
- North America
- Asia Pacific
- South Korea
- Latin America
- Middle East & Africa
- Saudi Arabia
- South Africa
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