Canada Black Soldier Fly Market Size, Share, Growth Analysis, By Application(poultry, aquaculture, pet food, livestock and others), By Product(whole insect, protein meal, oil, frass), By Region - Industry Forecast 2024-2031

Canada Black Soldier Fly Market size was valued at USD 0.16 billion in 2019 and is poised to grow from USD 0.21 billion in 2023 to USD 1.76 billion by 2031, growing at a CAGR of 30.5% in the forecast period (2024-2031).

The expanding aquaculture sector, increased demand for alternative proteins in the animal feed sector, and expanding government and industry support for the Canadian BSF sector are the main drivers of this market. Aside from changing eating habits and economic prosperity, the population is expanding dramatically. By 2050, there will likely be a 70% rise in demand for animal products as a result of these reasons. Due to increased feed costs, the prices of goods derived from animals are rising steadily. Currently, the cost of feed makes about 60–70% of the overall cost of raising cattle. Most of the protein used in feed comes from fish and soybean meal. These sources do, however, also meet the needs of people who need food. Additionally, the over-exploitation of marine resources has reduced the supply of fish meals, driving up the price of these feed components quickly. As a result, there is increasing demand in employing BSF as a feed element as people look for environmentally friendly options.

According to an FDA research, broiler quails and chickens had meat with a suitable flavor, fragrance, and nutritional makeup when soybean and fishmeal were swapped out for BSF larval meal in amounts ranging from 10 to 56%. This study by Van Heugten, Martinez, McComb, and Koutsos (2019) shown the usefulness of BSF oil for growing pigs. It was determined that the nursery pigs benefited from the replacement of maize oil.

Canada Black Soldier Fly Market is poised to grow at a sustainable CAGR for the next forecast year.