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

Black Soldier Fly Market Driver

• Fish oil and fish meal prices have risen as demand for farmed fish has increased. Insect feed serves as a viable and more profitable protein-rich aqua feed alternative, benefiting market growth as the aquaculture industry expands.
• Meat quality demands have motivated meat producers to focus on the nutritional aspects of livestock rearing, which control several aspects of meat quality. As a dry product, the black soldier fly contains 50% to 80% protein, which contributes to the animal nutrition value. It also contains amino acids that are easily digested by animals. As a result of increased efforts to improve meat quality through nutrient-infused feed, sales of insects for use in animal feed will boost.
• Insect-based animal feed products have also been identified as a lucrative prospect for increased profits by investors. As a result of increased investment by investors, manufacturers have been able to increase production capacities in order to meet the growing demand for insects. This growing interest, combined with manufacturers' increasing production capacities, is expected to drive significant growth in insect-based animal feed.

Black Soldier Fly Market Restraint

• Insect protein is one of the most unusual and promising animal feed proteins owing to its functional, environmental, and nutritional benefits. High costs, legislation, and restricted production capacity continue to be the major obstacles to market growth. Insect-based proteins are generally expensive to generate, and the equipment and techniques required for large-scale manufacturing need to be optimized. Few consumers are willing to pay higher prices for insect protein's health and environmental benefits, but many are priced out of the market.