(MENAFN- GlobeNewsWire - Nasdaq) Dublin, Aug. 28, 2024 (GLOBE NEWSWIRE) -- The "Global Black Soldier Fly Market by Product (Biofertilizers, Cocoons, Larvae Oil), Application (Agriculture, Animal Feed, Aqua Feed), Distribution - Forecast 2024-2030" report has been added to ResearchAndMarkets.com's offering.
The Black Soldier Fly Market grew from USD 232.33 million in 2023 to USD 268.37 million in 2024. It is expected to continue growing at a CAGR of 16.63%, reaching USD 682.10 million by 2030.

It is native to the tropical regions of the Americas but has swiftly adapted to a variety of climates and can now be found globally. The adult flies are known for their black, wasp-like appearance, which includes mimicking the physical features of territorial wasp species to avoid predation, despite being harmless to humans as they do not sting or carry diseases.

One of the most notable aspects of the Black Soldier Fly is its lifecycle, particularly the larval stage, which possesses an extraordinary capacity for bioconversion. These larvae can consume large amounts of organic waste, including food scraps and animal waste, and convert it into high-quality protein and fat. Increasing emphasis on food waste treatment and nutrient recycling worldwide has focused on the applications of black soldier fly. Moreover, the expansion of sustainable black soldier fly farming activities and the rise of biodiesel production from black soldier fly larvae have supported the market's growth.

However, the complexity of fly farming processes, production activities, and the complex legislative landscape of black soldier flies for human and environmental use may be restraining the market growth. Nevertheless, R&D focus towards the sourcing and property enhancement of black soldier fly may offer growth prospects for the market. Moreover, the emergence of black soldier fly larvae as an alternative protein source is expected to provide opportunistic growth for the market.
Regional Insights
The American Black Soldier Fly (BSF) market is rapidly growing, driven by the demand for sustainable alternatives to traditional feedstock and waste management solutions. The United States and Canada are at the forefront of this expansion, with numerous startups and established companies advancing in BSF farming and product development. The North American region increasingly adopts BSF for animal feed, pet food, and organic waste processing due to supportive regulatory frameworks and heightened sustainability awareness.

The European Union's emphasis on a circular economy and stringent waste management regulations has heightened interest in BSF farming. Recent investments and government incentives in major economies are driving the market forward. The EU holds several patents on the environmental control of BSF rearing and larval processing techniques. Investment and initiatives in the EMEA region are characterized by collaboration between private entities and government bodies aiming to integrate BSF into existing waste management and food production systems. Strict animal feed and waste management regulations also accelerate the adoption of BSF-based solutions.

The Asia Pacific region presents a diverse picture of BSF industry growth. In some economies, the industry is advancing quickly, with numerous commercial BSF operations capitalizing on the high demand for protein-rich feed in the aquaculture and livestock sectors. Southeast Asian countries demonstrate a strong potential for BSF cultivation due to favorable climatic conditions and the need for efficient waste management systems to support dense populations.

Moreover, numerous patent activities related to the breeding and processing of BSF larvae, substantial investment in the development of technology for large-scale BSF larva production, and the growth of the startup ecosystem are contributing to exploring the potential of BSF for waste management and as a feedstock, especially in aquaculture and poultry industries.

Key Attributes:

Report Attribute	Details
No. of Pages	188
Forecast Period	2024 - 2030
Estimated Market Value (USD) in 2024	$268.37 Million
Forecasted Market Value (USD) by 2030	$682.1 Million
Compound Annual Growth Rate	16.6%
Regions Covered	Global

Market Insights

Market Drivers

• Increasing emphasis on food waste treatment and nutrient recycling worldwide
• Expansion of sustainable black soldier fly farming activities
• Rise of biodiesel production from black soldier fly larvae

Market Restraints

• Complexity in fly farming processes and production activities

Market Opportunities

• R&D concerning the sourcing and property enhancement of black soldier fly
• Emergence of black soldier fly larvae as an alternative protein source

Market Challenges

• Complex legislative landscape of black soldier fly for human and environmental use

Market Segmentation Analysis

• Product: Biofertilizers have organic content and the ability to improve soil health
• Application: Agricultural application used black soldier fly for waste management

Industry Insights

• Market Disruption Analysis
• Porter's Five Forces Analysis
• Value Chain & Critical Path Analysis
• Pricing Analysis
• Technology Analysis
• Patent Analysis
• Trade Analysis
• Regulatory Framework Analysis

Key Company Profiles

• Applied Bio-nomics Ltd.
• ARBICO Organics
• Biobest Group
• BioflyTech
• Bioline AgroSciences Ltd.
• Bionema Limited
• Entobel Holding Pte. Ltd.
• Entofood Sdn Bhd
• Entomal Biotech Sdn Bhd
• EnviroFlight LLC
• Hexafly
• HiProMine S.A.
• InnovaFeed
• INSECTIFii
• nextProtein SA
• Norsk Fiskeoppdrett AS
• Nutrition Technologies Sdn Bhd
• Protenga Pte Ltd.
• Protix B.V.
• SFly Comgraf SAS
• Soldier Fly Technologies, Inc.

Market Segmentation & Coverage
Product

• Biofertilizers
• Cocoons
• Larvae Oil
• Protein Meals
• Whole Dried Larvae

Application

• Agriculture
• Animal Feed
• Aqua Feed
• Pet Food

Distribution

• Offline
• Online

Region

Americas

• Argentina
• Brazil
• Canada
• Mexico
• United States
• California
• Florida
• Illinois
• New York
• Ohio
• Pennsylvania
• Texas

Asia-Pacific

• Australia
• China
• India
• Indonesia
• Japan
• Malaysia
• Philippines
• Singapore
• South Korea
• Taiwan
• Thailand
• Vietnam

Europe, Middle East & Africa

• Denmark
• Egypt
• Finland
• France
• Germany
• Israel
• Italy
• Netherlands
• Nigeria
• Norway
• Poland
• Qatar
• Russia
• Saudi Arabia
• South Africa
• Spain
• Sweden
• Switzerland
• Turkey
• United Arab Emirates
• United Kingdom

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Attachment

• Global Black Soldier Fly Market

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