Meticulous Research®—a leading global market research company, published a research report titled, ‘Middle East & Africa Black Soldier Fly Market by Product (Protein Meals, Whole Dried Larvae, Biofertilizers (Frass), Larvae Oil, Other BSF Products); Application (Animal Feed, Agriculture, Pet food, Other Applications); and Country – Forecast to 2033.’
According to this latest publication from Meticulous Research®, the Middle East & Africa black soldier fly market is projected to reach $47.88 million by 2033, at a CAGR of 20.2% from 2023 to 2033. The growth of the Middle East & Africa black soldier fly market is mainly attributed to the high willingness of feed processors and farmers to integrate insects in their feeds, increasing demand from the animal feed industry for alternative proteins due to rising prices of fish and soy meal, and growing aquaculture industry. However, limited acceptance and approvals for BSFL to be incorporated into the human diet are expected to hinder the growth of this market to some extent.
The Middle East & Africa black soldier fly market is segmented by product (whole dried larvae, oil, protein meals, and biofertilizers (frass), and other BSF products), application (agriculture, animal feed, pet food, and other applications), and geography (Saudi Arabia, United Arab Emirates (UAE), South Africa, and Rest of the Middle East & Africa). The study also evaluates industry competitors and analyzes the market at country levels.
Among all the products studied in this report, the protein meals segment is expected to account for the largest share of the Middle East & Africa black soldier fly market in 2023. The large market share of this segment is attributed to increasing demand for protein meals from the animal feed industry, increased fish meal and soy meal prices, and government support and approval for an insect meal to be used in animal feed.
Among all the applications studied in this report, the animal feed segment is expected to dominate the Middle East & Africa black soldier fly market. The large share of this segment is mainly attributed to the growing demand for meat products and subsequent increases in the demand for protein-rich animal feed, rising soy meal prices, and high adoption of BSF meals in the animal feed industry.
Among all the countries studied in this report, South Africa is slated to register the highest CAGR during the forecast period. The growth of this country's market is mainly attributed to factors such as the emerging trend of adopting alternative protein, increasing demand for aquaculture and animal feed, and the high willingness of feed processors and farmers to integrate insects into their feeds.
The Middle East & Africa black soldier fly market is characterized by a moderately competitive scenario due to many large and small-sized global, regional, and local players. The key players operating in the Middle East & Africa black soldier fly market are BioflyTech (Spain), Entoprotech Ltd (Israel), PROTICYCLE (South Africa), KIMMY FARM (Vietnam), and NovFeed (T) Limited (Tanzania).
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