Black Soldier Fly (BSF) Market Size, Share, Industry Analysis, Growth, Forecasts, 2032

Black Soldier Fly (BSF) Industry Prospective:

The global black soldier fly (BSF) market size was evaluated at $315 million in 2023 and is slated to hit $917 million by the end of 2032 with a CAGR of nearly 15% between 2024 and 2032.

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Black Soldier Fly (BSF) Market: Overview

Black Soldier Fly (BSF), which is also referred to as Hermetia illucens, is an insect that finds massive use in animal feed and waste management activities. Furthermore, it is utilized in various kinds of agricultural activities.

Key Insights

• As per the analysis shared by our research analyst, the global black soldier fly (BSF) market is projected to expand annually at the annual growth rate of around 15% over the forecast timespan (2024-2032)
• In terms of revenue, the global black soldier fly (BSF) market size was evaluated at nearly $315 million in 2023 and is expected to reach $917 million by 2032.
• The global black soldier fly (BSF) market is anticipated to grow rapidly over the forecast timeline owing to escalating demand for sustainable animal feed and the need for high nutrient contents.
• In terms of product, the protein meals segment is slated to register the highest CAGR over the forecast period.
• Based on application, the aqua feed segment is predicted to contribute majorly towards the global industry revenue in the upcoming years.
• Region-wise, the European black soldier fly (BSF)  industry is projected to register the fastest CAGR during the projected timespan.

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Black Soldier Fly (BSF) Market: Growth Factors

Humungous consumption of product due to high protein contents will boost the global market expansion over 2024-2032

Escalating demand for sustainable animal feed and the need for high nutrient contents is likely to boost the expansion of the global black soldier fly (BSF) market. Huge nutritive benefits offered by the fly owing to the richness in proteins and amino acids of BSF larvae will steer the global market trends. Apart from this, the surge in the focus on circular economy emphasizing waste recycling will spur the expansion of the market globally. Regulatory support and a high focus on research & development activities will drive the growth of the market globally. Surging demand for eco-friendly and natural products will steer the expansion of the global market during the forecast period. Breakthroughs in breeding and rearing methods for enhancing the output of BSF will prop up the global market landscape in the coming years.

Black Soldier Fly (BSF) Market: Restraints

An increase in the expenses for harvesting BSF larvae can deter the growth of the global industry over the forecast period

Growing resistance to the use of insects in food owing to cultural barriers can restrict the expansion of the black soldier fly (BSF) industry across the globe. Apart from this, difficulties in gaining regulatory approvals for using BSF larvae can threaten the expansion of the industry globally. Surging costs of harvesting larvae and high competition from other players can deter the expansion of the industry globally.

Black Soldier Fly (BSF) Market: Opportunities

Growing demand for organic food products opens a slew of growth avenues for the global market

A rise in the production of organic fertilizers and the use of BSF-based fertilizers is likely to improve the cultivability & tilling of soil, thereby opening new growth facets for the global black soldier fly (BSF) market. The use of AI in aptly harvesting of BSF larvae will further impel the expansion of the market globally.

Black Soldier Fly (BSF) Market: Challenges

Oscillation in the product costs can challenge the expansion of the global industry over the analysis period

Volatility in the production costs and dynamic pricing of the products can challenge the expansion of the black soldier fly (BSF) industry across the globe. Limited availability of skilled persons for harvesting the BSF larvae can create hurdles in the expansion of the industry globally.

Black Soldier Fly (BSF) Market: Segmentation

The global black soldier fly (BSF) market is divided into product, application, and region.                                          

In terms of type, the black soldier fly market across the globe is bifurcated into chitosan, protein meals, and bio-fertilizers segments. Additionally, the protein meals segment, which accounted for half of the global market size in 2023, is prognosis to record the highest CAGR during the timeline from 2024 to 2032. The expansion of the segment in the coming eight years can be credited to escalating intake and demand for protein meals due to awareness about the favorable effects of proteins on human health.

Based on the application, the global black soldier fly industry is divided into aqua feed, animal feed, pharmaceuticals, farming, and pet food segments. Furthermore, the aqua feed segment, which accrued about 58% of the global industry revenue in 2023, is projected to make key contributions towards the global industry proceeds in the assessment timeframe. The surge of the segment in the predicted timeline can be attributed to the growing use of BSF larvae in aqua feed applications along with the use of BSF in fish feed.

Black Soldier Fly (BSF) Market: Report Scope

Black Soldier Fly (BSF) Market: Regional Insights

North America is expected to dominate the global market growth over 2024-2032

North America, which accounted for 45% of the global black soldier fly (BSF) market size in 2023, is expected to establish a key position in the global market in the upcoming years. In addition to this, the regional market surge in the forecast timeframe can be credited to a rise in the government approvals pertaining to the black soldier fly usage in animal feed across countries such as the U.S. Escalating use of black soldier fly in organic waste valorization and harvesting of BSF by key firms in bee farms will proliferate the regional market size in the upcoming years.   

The European black soldier fly (BSF) industry is predicted to register the highest growth rate annually in the coming few years. The growth of the industry in Europe can be due to an increase in the demand for pet food in countries such as Greece, Holland, Switzerland, and Poland. Key pet food producers in these countries are focusing largely on harvesting BSF along with investing heavily in the farms harvesting BSF.

Key Developments

• In the first quarter of 2024, InnovaFeed introduced Hilucia, a new brand with two protein-based products for aqua and monogastrics
• In the first half of 2024, EnviroFlight LLC signed a partnership agreement with EntoCycle, a UK-based firm providing insect farms for developing black soldier fly. Such moves will drive the growth of the black soldier fly (BSF) industry globally.

Black Soldier Fly (BSF) Market: Competitive Space

The global black soldier fly (BSF) market profiles key players such as:

• EnviroFlight LLC
• Protix B.V.
• Sfly
• Protenga Private Limited
• Bioflytech
• Nutrition Technologies Group
• Entobel Holding Private Limited
• InnovaFeed

The global black soldier fly (BSF) market is segmented as follows:

By Product

• Chitosan
• Protein Meals
• Bio-Fertilizers

By Application

• Animal Feed
• Pharmaceutical
• Farming
• Aqua Feed
• Pet Food

By Region

• North America
  • The U.S.
  • Canada
• Europe
  • France 
  • The UK
  • Spain
  • Germany
  • Italy
  • Rest of Europe
• Asia Pacific
  • China
  • Japan
  • India
  • South Korea
  • Southeast Asia
  • Rest of Asia Pacific
• Latin America
  • Brazil
  • Mexico
  • Rest of Latin America
• Middle East & Africa
  • GCC
  • South Africa
  • Rest of Middle East & Africa