Black Soldier Fly Market Strategic Insights and Updates by 2031
The Black Soldier Fly Market is expected to register a CAGR of 32% from 2023 to 2031, with a market size expanding from US$ XX million in 2023 to US$ XX Million by 2031.
The report is divided into four sections: Product Type (Protein Meal, Biofertilizers, Whole Dried Larvae, Larvae Oil) and Application (Animal Feed, Agriculture). The global analysis is broken down at the regional level and major countries. The market evaluation is presented in US$ for the above segmental analysis.
Purpose of the ReportThe report Black Soldier Fly Market by The Insight Partners aims to describe the present landscape and future growth, top driving factors, challenges, and opportunities. This will provide insights to various business stakeholders, such as:
- Technology Providers/Manufacturers: To understand the evolving market dynamics and know the potential growth opportunities, enabling them to make informed strategic decisions.
- Investors: To conduct a comprehensive trend analysis regarding the market growth rate, market financial projections, and opportunities that exist across the value chain.
- Regulatory bodies: To regulate policies and police activities in the market with the aim of minimizing abuse, preserving investor trust and confidence, and upholding the integrity and stability of the market.
Black Soldier Fly Market Segmentation
Product Type- Protein Meal
- Biofertilizers
- Whole Dried Larvae
- Larvae Oil
- Animal Feed
- Agriculture
Strategic Insights
Black Soldier Fly Market Growth Drivers- Growing Demand for Sustainable Protein Sources: As the global population grows and dietary preferences shift towards plant-based and alternative protein sources, BSF larvae emerge as a sustainable and efficient source of animal feed and even human food.
- Increasing Focus on Waste Management: BSF larvae effectively convert organic waste (food scraps, agricultural waste) into valuable resources, addressing environmental concerns and creating a circular economy model.
- Rise of the Bioeconomy: The growing interest in bio-based products and the development of the bioeconomy are creating new opportunities for BSF larvae in various applications, including bioplastics, biofertilizers, and pharmaceuticals.
- Integration into Precision Agriculture: BSF larvae can be integrated into precision agriculture systems, optimizing feed conversion rates, reducing environmental impact, and improving animal health and productivity.
- Advancements in BSF Processing Technologies: Continued research and development will lead to advancements in BSF processing technologies, improving efficiency, reducing costs, and enhancing the quality and safety of BSF-derived products.
- Development of Novel BSF-Based Products: Exploring new applications for BSF larvae and their byproducts, such as in cosmetics, pharmaceuticals, and nutraceuticals, will expand market reach and create new revenue streams.
- Developing Value-Added Products: Processing BSF larvae into high-value products such as protein powders, oils, chitin, and bioactive compounds can increase profitability and attract premium markets.
- Building Strong Partnerships: Collaborating with farmers, feed manufacturers, waste management companies, and researchers to develop and implement integrated BSF systems can accelerate market growth and drive innovation.
- Raising Consumer Awareness: Educating consumers about the nutritional and environmental benefits of BSF-derived products can increase demand and drive market acceptance.
Market Report Scope
Key Selling Points
- Comprehensive Coverage: The report comprehensively covers the analysis of products, services, types, and end users of the Black Soldier Fly Market, providing a holistic landscape.
- Expert Analysis: The report is compiled based on the in-depth understanding of industry experts and analysts.
- Up-to-date Information: The report assures business relevance due to its coverage of recent information and data trends.
- Customization Options: This report can be customized to cater to specific client requirements and suit the business strategies aptly.
The research report on the Black Soldier Fly Market can, therefore, help spearhead the trail of decoding and understanding the industry scenario and growth prospects. Although there can be a few valid concerns, the overall benefits of this report tend to outweigh the disadvantages.
REGIONAL FRAMEWORK
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- Sample PDF showcases the content structure and the nature of the information with qualitative and quantitative analysis.
- Request discounts available for Start-Ups & Universities
Report Coverage
Revenue forecast, Company Analysis, Industry landscape, Growth factors, and Trends
Segment Covered
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to segments covered.
Regional Scope
North America, Europe, Asia Pacific, Middle East & Africa, South & Central America
Country Scope
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to country scope.
Frequently Asked Questions
Black Soldier Fly Market is expected to grow at a CAGR of 32% between 2023-2031
The driving factors impacting the Black Soldier Fly Market are: Growing Demand for Sustainable Protein Sources, Increasing Focus on Waste Management and Rise of the Bioeconomy
The future trends of the Black Soldier Fly Market are: Integration into Precision Agriculture, Advancements in BSF Processing Technologies and Development of Novel BSF-Based Products
The leading players of the market are: AgriProtein, Protix B.V., Enterra Feed Corporation, InnovaFeed, EnviroFlight LLC, Bioflytech, Entobel Holding PTE. Ltd., Entofood, Sfly, Hexafly
The report can be delivered in PDF/PPT format; we can also share excel dataset based on the request.
Some of the customization options available based on request are additional 3-5 company profiles and country-specific analysis of 3-5 countries of your choice. Customizations are to be requested/discussed before making final order confirmation, as our team would review the same and check the feasibility.
1. INTRODUCTION
1.1. SCOPE OF THE STUDY
1.2. THE INSIGHT PARTNERS RESEARCH REPORT GUIDANCE
1.3. MARKET SEGMENTATION
1.3.1 Black Soldier Fly Market - By Product Type
1.3.2 Black Soldier Fly Market - By Application
1.3.3 Black Soldier Fly Market - By Region
1.3.3.1 By Country
2. KEY TAKEAWAYS
3. RESEARCH METHODOLOGY
4. BLACK SOLDIER FLY MARKET LANDSCAPE
4.1. OVERVIEW
4.2. PORTER'S FIVE FORCES ANALYSIS
4.2.1 Bargaining Power of Buyers
4.2.1 Bargaining Power of Suppliers
4.2.1 Threat of Substitute
4.2.1 Threat of New Entrants
4.2.1 Competitive Rivalry
4.3. EXPERT OPINIONS
5. BLACK SOLDIER FLY MARKET - KEY MARKET DYNAMICS
5.1. KEY MARKET DRIVERS
5.2. KEY MARKET RESTRAINTS
5.3. KEY MARKET OPPORTUNITIES
5.4. FUTURE TRENDS
5.5. IMPACT ANALYSIS OF DRIVERS AND RESTRAINTS
6. BLACK SOLDIER FLY MARKET - GLOBAL MARKET ANALYSIS
6.1. BLACK SOLDIER FLY - GLOBAL MARKET OVERVIEW
6.2. BLACK SOLDIER FLY - GLOBAL MARKET AND FORECAST TO 2028
6.3. MARKET POSITIONING
7. BLACK SOLDIER FLY MARKET - REVENUE AND FORECASTS TO 2028 - PRODUCT TYPE
7.1. OVERVIEW
7.2. PRODUCT TYPE MARKET FORECASTS AND ANALYSIS
7.3. PROTEIN MEAL
7.3.1. Overview
7.3.2. Protein Meal Market Forecast and Analysis
7.4. BIOFERTILIZERS (FRASS)
7.4.1. Overview
7.4.2. Biofertilizers (Frass) Market Forecast and Analysis
7.5. WHOLE DRIED LARVAE
7.5.1. Overview
7.5.2. Whole Dried Larvae Market Forecast and Analysis
7.6. LARVAE OIL
7.6.1. Overview
7.6.2. Larvae Oil Market Forecast and Analysis
7.7. OTHERS
7.7.1. Overview
7.7.2. Others Market Forecast and Analysis
8. BLACK SOLDIER FLY MARKET - REVENUE AND FORECASTS TO 2028 - APPLICATION
8.1. OVERVIEW
8.2. APPLICATION MARKET FORECASTS AND ANALYSIS
8.3. ANIMAL FEED
8.3.1. Overview
8.3.2. Animal Feed Market Forecast and Analysis
8.4. AGRICULTURE
8.4.1. Overview
8.4.2. Agriculture Market Forecast and Analysis
8.5. OTHERS
8.5.1. Overview
8.5.2. Others Market Forecast and Analysis
9. BLACK SOLDIER FLY MARKET REVENUE AND FORECASTS TO 2028 - GEOGRAPHICAL ANALYSIS
9.1. NORTH AMERICA
9.1.1 North America Black Soldier Fly Market Overview
9.1.2 North America Black Soldier Fly Market Forecasts and Analysis
9.1.3 North America Black Soldier Fly Market Forecasts and Analysis - By Product Type
9.1.4 North America Black Soldier Fly Market Forecasts and Analysis - By Application
9.1.5 North America Black Soldier Fly Market Forecasts and Analysis - By Countries
9.1.5.1 United States Black Soldier Fly Market
9.1.5.1.1 United States Black Soldier Fly Market by Product Type
9.1.5.1.2 United States Black Soldier Fly Market by Application
9.1.5.2 Canada Black Soldier Fly Market
9.1.5.2.1 Canada Black Soldier Fly Market by Product Type
9.1.5.2.2 Canada Black Soldier Fly Market by Application
9.1.5.3 Mexico Black Soldier Fly Market
9.1.5.3.1 Mexico Black Soldier Fly Market by Product Type
9.1.5.3.2 Mexico Black Soldier Fly Market by Application
9.2. EUROPE
9.2.1 Europe Black Soldier Fly Market Overview
9.2.2 Europe Black Soldier Fly Market Forecasts and Analysis
9.2.3 Europe Black Soldier Fly Market Forecasts and Analysis - By Product Type
9.2.4 Europe Black Soldier Fly Market Forecasts and Analysis - By Application
9.2.5 Europe Black Soldier Fly Market Forecasts and Analysis - By Countries
9.2.5.1 Germany Black Soldier Fly Market
9.2.5.1.1 Germany Black Soldier Fly Market by Product Type
9.2.5.1.2 Germany Black Soldier Fly Market by Application
9.2.5.2 France Black Soldier Fly Market
9.2.5.2.1 France Black Soldier Fly Market by Product Type
9.2.5.2.2 France Black Soldier Fly Market by Application
9.2.5.3 Italy Black Soldier Fly Market
9.2.5.3.1 Italy Black Soldier Fly Market by Product Type
9.2.5.3.2 Italy Black Soldier Fly Market by Application
9.2.5.4 United Kingdom Black Soldier Fly Market
9.2.5.4.1 United Kingdom Black Soldier Fly Market by Product Type
9.2.5.4.2 United Kingdom Black Soldier Fly Market by Application
9.2.5.5 Russia Black Soldier Fly Market
9.2.5.5.1 Russia Black Soldier Fly Market by Product Type
9.2.5.5.2 Russia Black Soldier Fly Market by Application
9.2.5.6 Rest of Europe Black Soldier Fly Market
9.2.5.6.1 Rest of Europe Black Soldier Fly Market by Product Type
9.2.5.6.2 Rest of Europe Black Soldier Fly Market by Application
9.3. ASIA-PACIFIC
9.3.1 Asia-Pacific Black Soldier Fly Market Overview
9.3.2 Asia-Pacific Black Soldier Fly Market Forecasts and Analysis
9.3.3 Asia-Pacific Black Soldier Fly Market Forecasts and Analysis - By Product Type
9.3.4 Asia-Pacific Black Soldier Fly Market Forecasts and Analysis - By Application
9.3.5 Asia-Pacific Black Soldier Fly Market Forecasts and Analysis - By Countries
9.3.5.1 Australia Black Soldier Fly Market
9.3.5.1.1 Australia Black Soldier Fly Market by Product Type
9.3.5.1.2 Australia Black Soldier Fly Market by Application
9.3.5.2 China Black Soldier Fly Market
9.3.5.2.1 China Black Soldier Fly Market by Product Type
9.3.5.2.2 China Black Soldier Fly Market by Application
9.3.5.3 India Black Soldier Fly Market
9.3.5.3.1 India Black Soldier Fly Market by Product Type
9.3.5.3.2 India Black Soldier Fly Market by Application
9.3.5.4 Japan Black Soldier Fly Market
9.3.5.4.1 Japan Black Soldier Fly Market by Product Type
9.3.5.4.2 Japan Black Soldier Fly Market by Application
9.3.5.5 South Korea Black Soldier Fly Market
9.3.5.5.1 South Korea Black Soldier Fly Market by Product Type
9.3.5.5.2 South Korea Black Soldier Fly Market by Application
9.3.5.6 Rest of Asia-Pacific Black Soldier Fly Market
9.3.5.6.1 Rest of Asia-Pacific Black Soldier Fly Market by Product Type
9.3.5.6.2 Rest of Asia-Pacific Black Soldier Fly Market by Application
9.4. MIDDLE EAST AND AFRICA
9.4.1 Middle East and Africa Black Soldier Fly Market Overview
9.4.2 Middle East and Africa Black Soldier Fly Market Forecasts and Analysis
9.4.3 Middle East and Africa Black Soldier Fly Market Forecasts and Analysis - By Product Type
9.4.4 Middle East and Africa Black Soldier Fly Market Forecasts and Analysis - By Application
9.4.5 Middle East and Africa Black Soldier Fly Market Forecasts and Analysis - By Countries
9.4.5.1 South Africa Black Soldier Fly Market
9.4.5.1.1 South Africa Black Soldier Fly Market by Product Type
9.4.5.1.2 South Africa Black Soldier Fly Market by Application
9.4.5.2 Saudi Arabia Black Soldier Fly Market
9.4.5.2.1 Saudi Arabia Black Soldier Fly Market by Product Type
9.4.5.2.2 Saudi Arabia Black Soldier Fly Market by Application
9.4.5.3 U.A.E Black Soldier Fly Market
9.4.5.3.1 U.A.E Black Soldier Fly Market by Product Type
9.4.5.3.2 U.A.E Black Soldier Fly Market by Application
9.4.5.4 Rest of Middle East and Africa Black Soldier Fly Market
9.4.5.4.1 Rest of Middle East and Africa Black Soldier Fly Market by Product Type
9.4.5.4.2 Rest of Middle East and Africa Black Soldier Fly Market by Application
9.5. SOUTH AND CENTRAL AMERICA
9.5.1 South and Central America Black Soldier Fly Market Overview
9.5.2 South and Central America Black Soldier Fly Market Forecasts and Analysis
9.5.3 South and Central America Black Soldier Fly Market Forecasts and Analysis - By Product Type
9.5.4 South and Central America Black Soldier Fly Market Forecasts and Analysis - By Application
9.5.5 South and Central America Black Soldier Fly Market Forecasts and Analysis - By Countries
9.5.5.1 Brazil Black Soldier Fly Market
9.5.5.1.1 Brazil Black Soldier Fly Market by Product Type
9.5.5.1.2 Brazil Black Soldier Fly Market by Application
9.5.5.2 Argentina Black Soldier Fly Market
9.5.5.2.1 Argentina Black Soldier Fly Market by Product Type
9.5.5.2.2 Argentina Black Soldier Fly Market by Application
9.5.5.3 Rest of South and Central America Black Soldier Fly Market
9.5.5.3.1 Rest of South and Central America Black Soldier Fly Market by Product Type
9.5.5.3.2 Rest of South and Central America Black Soldier Fly Market by Application
10. INDUSTRY LANDSCAPE
10.1. MERGERS AND ACQUISITIONS
10.2. AGREEMENTS, COLLABORATIONS AND JOIN VENTURES
10.3. NEW PRODUCT LAUNCHES
10.4. EXPANSIONS AND OTHER STRATEGIC DEVELOPMENTS
11. BLACK SOLDIER FLY MARKET, KEY COMPANY PROFILES
11.1. AGRIPROTEIN
11.1.1. Key Facts
11.1.2. Business Description
11.1.3. Products and Services
11.1.4. Financial Overview
11.1.5. SWOT Analysis
11.1.6. Key Developments
11.2. PROTIX B.V.
11.2.1. Key Facts
11.2.2. Business Description
11.2.3. Products and Services
11.2.4. Financial Overview
11.2.5. SWOT Analysis
11.2.6. Key Developments
11.3. ENTERRA FEED CORPORATION
11.3.1. Key Facts
11.3.2. Business Description
11.3.3. Products and Services
11.3.4. Financial Overview
11.3.5. SWOT Analysis
11.3.6. Key Developments
11.4. INNOVAFEED
11.4.1. Key Facts
11.4.2. Business Description
11.4.3. Products and Services
11.4.4. Financial Overview
11.4.5. SWOT Analysis
11.4.6. Key Developments
11.5. ENVIROFLIGHT LLC
11.5.1. Key Facts
11.5.2. Business Description
11.5.3. Products and Services
11.5.4. Financial Overview
11.5.5. SWOT Analysis
11.5.6. Key Developments
11.6. BIOFLYTECH
11.6.1. Key Facts
11.6.2. Business Description
11.6.3. Products and Services
11.6.4. Financial Overview
11.6.5. SWOT Analysis
11.6.6. Key Developments
11.7. ENTOBEL HOLDING PTE. LTD.
11.7.1. Key Facts
11.7.2. Business Description
11.7.3. Products and Services
11.7.4. Financial Overview
11.7.5. SWOT Analysis
11.7.6. Key Developments
11.8. ENTOFOOD
11.8.1. Key Facts
11.8.2. Business Description
11.8.3. Products and Services
11.8.4. Financial Overview
11.8.5. SWOT Analysis
11.8.6. Key Developments
11.9. SFLY
11.9.1. Key Facts
11.9.2. Business Description
11.9.3. Products and Services
11.9.4. Financial Overview
11.9.5. SWOT Analysis
11.9.6. Key Developments
11.10. HEXAFLY
11.10.1. Key Facts
11.10.2. Business Description
11.10.3. Products and Services
11.10.4. Financial Overview
11.10.5. SWOT Analysis
11.10.6. Key Developments
12. APPENDIX
12.1. ABOUT THE INSIGHT PARTNERS
12.2. GLOSSARY OF TERMS
1. AgriProtein
2. Protix B.V.
3. Enterra Feed Corporation
4. InnovaFeed
5. EnviroFlight LLC
6. Bioflytech
7. Entobel Holding PTE. Ltd.
8. Entofood
9. Sfly
10. Hexafly
The Insight Partners performs research in 4 major stages: Data Collection & Secondary Research, Primary Research, Data Analysis and Data Triangulation & Final Review.
- Data Collection and Secondary Research:
As a market research and consulting firm operating from a decade, we have published many reports and advised several clients across the globe. First step for any study will start with an assessment of currently available data and insights from existing reports. Further, historical and current market information is collected from Investor Presentations, Annual Reports, SEC Filings, etc., and other information related to company’s performance and market positioning are gathered from Paid Databases (Factiva, Hoovers, and Reuters) and various other publications available in public domain.
Several associations trade associates, technical forums, institutes, societies and organizations are accessed to gain technical as well as market related insights through their publications such as research papers, blogs and press releases related to the studies are referred to get cues about the market. Further, white papers, journals, magazines, and other news articles published in the last 3 years are scrutinized and analyzed to understand the current market trends.
- Primary Research:
The primarily interview analysis comprise of data obtained from industry participants interview and answers to survey questions gathered by in-house primary team.
For primary research, interviews are conducted with industry experts/CEOs/Marketing Managers/Sales Managers/VPs/Subject Matter Experts from both demand and supply side to get a 360-degree view of the market. The primary team conducts several interviews based on the complexity of the markets to understand the various market trends and dynamics which makes research more credible and precise.
A typical research interview fulfils the following functions:
- Provides first-hand information on the market size, market trends, growth trends, competitive landscape, and outlook
- Validates and strengthens in-house secondary research findings
- Develops the analysis team’s expertise and market understanding
Primary research involves email interactions and telephone interviews for each market, category, segment, and sub-segment across geographies. The participants who typically take part in such a process include, but are not limited to:
- Industry participants: VPs, business development managers, market intelligence managers and national sales managers
- Outside experts: Valuation experts, research analysts and key opinion leaders specializing in the electronics and semiconductor industry.
Below is the breakup of our primary respondents by company, designation, and region:
Once we receive the confirmation from primary research sources or primary respondents, we finalize the base year market estimation and forecast the data as per the macroeconomic and microeconomic factors assessed during data collection.
- Data Analysis:
Once data is validated through both secondary as well as primary respondents, we finalize the market estimations by hypothesis formulation and factor analysis at regional and country level.
- 3.1 Macro-Economic Factor Analysis:
We analyse macroeconomic indicators such the gross domestic product (GDP), increase in the demand for goods and services across industries, technological advancement, regional economic growth, governmental policies, the influence of COVID-19, PEST analysis, and other aspects. This analysis aids in setting benchmarks for various nations/regions and approximating market splits. Additionally, the general trend of the aforementioned components aid in determining the market's development possibilities.
- 3.2 Country Level Data:
Various factors that are especially aligned to the country are taken into account to determine the market size for a certain area and country, including the presence of vendors, such as headquarters and offices, the country's GDP, demand patterns, and industry growth. To comprehend the market dynamics for the nation, a number of growth variables, inhibitors, application areas, and current market trends are researched. The aforementioned elements aid in determining the country's overall market's growth potential.
- 3.3 Company Profile:
The “Table of Contents” is formulated by listing and analyzing more than 25 - 30 companies operating in the market ecosystem across geographies. However, we profile only 10 companies as a standard practice in our syndicate reports. These 10 companies comprise leading, emerging, and regional players. Nonetheless, our analysis is not restricted to the 10 listed companies, we also analyze other companies present in the market to develop a holistic view and understand the prevailing trends. The “Company Profiles” section in the report covers key facts, business description, products & services, financial information, SWOT analysis, and key developments. The financial information presented is extracted from the annual reports and official documents of the publicly listed companies. Upon collecting the information for the sections of respective companies, we verify them via various primary sources and then compile the data in respective company profiles. The company level information helps us in deriving the base number as well as in forecasting the market size.
- 3.4 Developing Base Number:
Aggregation of sales statistics (2020-2022) and macro-economic factor, and other secondary and primary research insights are utilized to arrive at base number and related market shares for 2022. The data gaps are identified in this step and relevant market data is analyzed, collected from paid primary interviews or databases. On finalizing the base year market size, forecasts are developed on the basis of macro-economic, industry and market growth factors and company level analysis.
- Data Triangulation and Final Review:
The market findings and base year market size calculations are validated from supply as well as demand side. Demand side validations are based on macro-economic factor analysis and benchmarks for respective regions and countries. In case of supply side validations, revenues of major companies are estimated (in case not available) based on industry benchmark, approximate number of employees, product portfolio, and primary interviews revenues are gathered. Further revenue from target product/service segment is assessed to avoid overshooting of market statistics. In case of heavy deviations between supply and demand side values, all thes steps are repeated to achieve synchronization.
We follow an iterative model, wherein we share our research findings with Subject Matter Experts (SME’s) and Key Opinion Leaders (KOLs) until consensus view of the market is not formulated – this model negates any drastic deviation in the opinions of experts. Only validated and universally acceptable research findings are quoted in our reports.
We have important check points that we use to validate our research findings – which we call – data triangulation, where we validate the information, we generate from secondary sources with primary interviews and then we re-validate with our internal data bases and Subject matter experts. This comprehensive model enables us to deliver high quality, reliable data in shortest possible time.
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