Black Soldier Fly Market Forecasts to 2030 – Global Analysis By Product Type (Biofertilizers, Protein Meal, Whole Dried Larvae, Larvae Oil and Other Product Types), Application and By Geography

Black Soldier Fly Market Forecasts to 2030 – Global Analysis By Product Type (Biofertilizers, Protein Meal, Whole Dried Larvae, Larvae Oil and Other Product Types), Application and By Geography

According to Stratistics MRC, the Global Black Soldier Fly Market is accounted for $0.3 billion in 2023 and is expected to reach $2.0 billion by 2030 growing at a CAGR of 32.5% during the forecast period. The Black Soldier Fly (BSF), Hermetia illucens, is a beneficial insect known for its ecological importance. With a lifespan of 5 to 8 days, its primary role lies in waste management. BSF larvae consume organic waste, converting it into nutrient-rich biomass, making them efficient in reducing landfill mass and controlling waste pollution. Their ability to thrive on various organic materials, including kitchen scraps and agricultural by-products, offers a sustainable solution for waste management.

According to U.N., the worldwide livestock industry is responsible for 14.5% of global greenhouse emissions. The production of insects is known to be around 20 times more efficient as a protein source as it produces 80 times less methane.

Market Dynamics:

Driver:

Growing awareness of the environmental impact

The growing awareness of environmental issues can attract investment into companies and start-ups involved in insect farming and related technologies. Investors are increasingly looking for opportunities that offer both financial returns and positive environmental impact, and the black soldier fly market fits well into this narrative. This influx of capital can drive innovation, research, and expansion within the industry, leading to advancements in production efficiency and product development.

Restraint:

Initial investment in infrastructure, breeding stock, and expertise

Breeding Black Soldier Flies requires expertise and time. These insects have specific environmental requirements for mating and egg laying, and it can take several weeks for larvae to mature before they can be harvested. This long breeding cycle means that it may take some time before a new black soldier fly farm becomes operational and begins generating revenue, increasing the financial risk for investors and entrepreneurs.

Opportunity:

Rising demand for protein

The rising demand for protein, coupled with growing interest in sustainable agriculture and food production, is attracting investment and driving innovation in the black soldier fly market. Companies are investing in research and development to improve breeding techniques, optimize production processes, and develop new applications for black soldier fly-derived products. This influx of capital and innovation is expected to further accelerate the growth of the black soldier fly market in response to rising protein demand.

Threat:

Limited research on long-term effects

Limited research on the health and safety aspects of black soldier fly farming and products may pose risks to workers and consumers. For example, there may be concerns about potential allergens, contaminants, or pathogens associated with black soldier fly larvae or their waste products. Without thorough research and risk assessments, these health and safety risks may not be adequately addressed, leading to potential liabilities for companies operating in the black soldier fly market.

Covid-19 Impact

While interest in sustainable waste management solutions remained, logistical challenges hindered the expansion of black soldier fly projects. Reduced access to organic waste streams, such as food scraps from commercial establishments, slowed black soldier fly larvae production. Additionally, financial constraints and shifting priorities diverted attention from sustainability initiatives. Despite these setbacks, the pandemic underscored the importance of resilient and adaptable systems, potentially driving innovation in black soldier fly farming methods and reinforcing the need for sustainable waste management practices in a post-pandemic world.

The protein meal segment is expected to be the largest during the forecast period

The protein meal segment is estimated to have a lucrative growth, due to its effectiveness in providing beneficial feed to animals from waste. Since its larvae are a high source of fat (7–39% dry matter—DM) and protein (37–63% DM) with a better amino acid profile than soybean meal, the black soldier fly has been frequently employed as an element in animal diets. Furthermore, it is a cost-effective option compared to fish meals and soy, driving its demand for animal feed in the coming years.

The animal feed segment is expected to have the highest CAGR during the forecast period

The animal feed segment is anticipated to witness the highest CAGR growth during the forecast period, due to their nutritional profile and waste-reduction abilities. The Down to Earth report claims that raising poultry is expensive, with feed accounting for up to 70% of total costs. Due to their low cost, minimal impact on the environment, and natural traits, black soldier fly larvae are a possible feed option for poultry farmers. These larvae are capable of efficiently converting organic waste into priceless vitamins and minerals that can improve the nutrition of poultry.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the growing waste in the countries is leading to landfills, where it rots and decomposes, creating methane, a greenhouse gas 23 times more potent than carbon dioxide. This is driving the demand for black soldier fly, as it can convert waste into organic manure and animal feed. A start-up company in India took the initiative to use the waste generated in Dimapur, Nagaland. As companies come forward to produce black soldier flies, the supply in the market will increase, leading to stability in prices.

Region with highest CAGR:

Europe is projected to have the highest CAGR over the forecast period, owing to rising consumer interest in sustainable proteins. According to the survey conducted by the Good Food Institute and Opinion Way in 2022, most consumers expressed concern about the environmental effects of traditional animal agriculture, with 60 percent saying alternatives are required in France, Germany, Italy, and Spain, and 71 percent in Italy. This will create new growth opportunities for the black soldier fly market as it is an environmentally sustainable option due to its ability to convert waste into nutritional content for animal feed.

Key players in the market

Some of the key players in the Black Soldier Fly Market include Andermatt Biocontrol AG, ARBICO Organics, Bayer AG, Beneficial Insectary, Inc, BioBee Sde Eliyahu, Biobest, Bioline AgroSciences Ltd, Bionema, Bio-nomics Ltd., Corteva, Dudutech, Fargro ltd, Koppert Biological Systems, STK bio-ag technologies, Tip Top Bio-Control, Vegalab SA, AgriProtein, Bioflytech, Entobel Holding and InnovaFeed

Key Developments:

In April 2024, Bayer signs supply contract for electricity from renewable energy sources with Wuppertaler Stadtwerke. The contract underlines Bayer's global commitment to sustainability.

In January 2024, Andermatt launched RhizoVital C5 for seed business in Poland. This collaboration has resulted in the launch of seed treated with RhizoVital C5 under the Polish brand Rhizo Seeds.

In January 2024, BioBee Sde Eliyahu partner with BloomX. BloomX enhances the grower’s ability to deal with these challenges, helping them increase crop yields and fruit quality while granting them control over the pollination process.

Product Types Covered:
• Biofertilizers
• Protein Meal
• Whole Dried Larvae
• Larvae Oil
• Other Product Types

Applications Covered:
• Animal Feed
• Organic Waste Management
• Biomedical Applications
• Industrial Applications
• Agriculture
• Pet Food
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements