Report ID: SQMIG30H2153
Black Soldier Fly Market Size, Share, Growth Analysis, By Product(Protein Meals, Biofertilizers, Chitin/ Chitosan, Others), By Application(Animal Feed, Agriculture, Pet Food, Pharmaceutical), By Region - Industry Forecast 2024-2031
Report ID:
SQMIG30H2153 |
Region:
Global |
Published Date: April, 2024
Pages:
165
|
Tables:
67 |
Figures:
75
Black Soldier Fly Market Regional Insights
Asia-Pacific held the largest share of the global black soldier fly market in 2021. The Asia-Pacific region accounts for the majority of the market, owing to rising meat and seafood consumption, a growing aquaculture industry, increased awareness of BSF as an alternative protein source for use in animal feed, and an increase in fish meal prices.
Europe is expected to grow rapidly during the forecast period. This region's rapid growth can be attributed primarily to the high demand for protein-rich animal feed; a large supply of waste, including pre-consumer food waste from the agriculture and food and beverage sectors; government approval for BSF products to be used in animal feed, and pet food; and the presence of supportive policies for BSF farming.
The highlighted manufacturers' desire to increase their market share in this sector will drive demand for black soldier fly in the U.S. and Canadian markets. Numerous American manufacturers have increased their production capacity, and many more are in the process of doing so, as interest in the potential use of insects as animal feed in the near future has grown.
Black Soldier Fly Market Report Snapshots
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