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Europe Black Soldier Fly Market by Product (Protein Meals, Whole Dried Larvae, Biofertilizers {Frass}, Larvae Oil, Others {Cocoons, Pupa}), by Application (Animal Feed, Agriculture, Pet Food, Others), and Country - Forecast to 2033
Report ID: MRFB - 104879 Pages: 140 Jun-2024 Formats*: PDF Category: Food and Beverages Delivery: 24 to 72 Hours Download Free Sample ReportThe Europe Black Soldier Fly Market is slated to register a CAGR of 31.3% from 2024 to 2033 to reach $2.29 Billion by 2033. In terms of volume, the Europe Black Soldier Fly Market is expected to reach 4,605,369.9 tons by 2033, at a CAGR of 40.6% during the forecast period 2024–2033. The growth of the Europe black soldier fly market is mainly attributed to the increasing government support for the use of insect meal in livestock feed, increasing demand from the animal feed industry for alternative proteins due to rising prices of fish and soy meal, rising demand for alternative protein, and environmental sustainability with production and consumption of alternative protein. Furthermore, minimizing dependency on imported protein sources is expected to create market growth opportunities. However, the non-standardized regulatory framework across Europe and the risk of allergies due to insect consumption are expected to hinder the growth of this market to some extent. However, the risk of disease transmission from BSF and lack of awareness challenge market growth.
The report includes a competitive landscape based on an extensive assessment of the key strategic developments by leading market participants in the industry. Some of the key players operating in the Europe black soldier fly market are Protix B.V. (Netherlands), InnovaFeed SAS (France), EnviroFlight, LLC (U.S.), BioflyTech (Spain), nextProtein (France), Hexafly (Ireland), SFly Comgraf SAS (France), and Protenga Pte. Ltd. (Singapore).
Many government authorities have been mandated to coordinate in promoting the sustainable supply of safe, healthy feed in the global insect feed industry. Some government authorities are supporting the consumption of BSF-based products in animal feed, accelerating the growing demand for BSF products. For instance, in 2017, the European Government approved the use of feed ingredients derived from BSF larvae in aquaculture feed.
Moreover, in August 2021, regulation (EU) 2021/1372 authorized the processing of animal proteins derived from insects in poultry and pig feed. This regulation came into effect in September 2021. The European government legislation prohibits using dead insects or processed insects in feed for chickens and pigs. However, it is allowed to feed live insects, insect oil, or hydrolyzed protein. According to the International Platform of Insects for Food and Feed (IPIFF), the use of insect meals in pigs and poultry feed will be the main focus after the approval of its use in aqua feed. This will create more market opportunities for insect meal producers to enter the huge poultry feed market.
Thus, growing government support to approve the use of insect meal in feed is expected to fuel the growth of the Europe BSF market in the coming years.
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In 2024, the Protein Meals Segment to Dominate the Europe Black Soldier Fly Market
Based on product, the Europe black soldier fly market is segmented into protein meals, whole dried larvae, biofertilizers (frass), larvae oil, and others. In 2024, the protein meals segment is expected to account for the largest share of the Europe black soldier fly market. The large market share of this segment is attributed to the increasing demand for alternative protein, increasing demand for protein meals from the animal feed industry, increased fish meal and soy meal prices, and high protein content in BSF. This segment is also expected to grow at the highest CAGR during the forecast period.
In 2024, the Animal Feed Segment to Dominate the Europe Black Soldier Fly Market
Based on application, the Europe black soldier fly market is segmented into animal feed, agriculture, pet food, and other applications. In 2024, the animal feed segment is expected to account for the largest share of the Europe black soldier fly market. The large market share of this segment is attributed to the rising aquaculture farming, subsequent increase in the demand for protein-rich animal feed and entry of leading animal feed companies in the edible insects’ space. This segment is also expected to grow at the highest CAGR during the forecast period.
The Netherlands Dominates the Europe Black Soldier Fly Market, while France Leads in Growth
The Europe black soldier fly market is segmented into the Netherlands, France, Germany, Finland, Denmark, Belgium, Turkey, and the Rest of Europe. In 2024, the Netherlands is expected to account for the largest share of the Europe black soldier fly market. The large market share of this country is attributed to the high government support for insect processing, rising expansion by major BSF companies in the country, and rising awareness about alternative protein among people.
However, France is slated to register the highest CAGR during the forecast period. The rapid growth of this country is mainly attributed to the growing alternative protein industry; the growing investments in research, innovation, and scaling-up future protein sources such as insects; and the rising demand for fish feed.
Scope of the Report:
Europe Black Soldier Fly Market Assessment, by Product
Europe Black Soldier Fly Market Assessment, by Application
Europe Black Soldier Fly Market Assessment, by Country
Key Questions Answered in the Report:
The Europe black soldier fly market is projected to reach $2.29 billion by 2033, at a CAGR of 31.3% from 2024 to 2033.
In 2024, the protein meal segment is expected to account for the largest share of the Europe black soldier fly market.
The animal feed segment is slated to register the highest CAGR during the forecast period and provide significant opportunities for players operating in this market.
The major key players operating in the Europe black soldier fly market are Protix B.V. (Netherlands), InnovaFeed SAS (France), EnviroFlight, LLC (U.S.), BioflyTech (Spain), nextProtein (France), Hexafly (Ireland), SFly Comgraf SAS (France), and Protenga Pte. Ltd. (Singapore).
France is slated to register the highest CAGR during the forecast period. The rapid growth of this region is mainly attributed to the growing alternative protein industry; the growing investments in research, innovation, and scaling-up future protein sources such as insects; and the rising demand for fish feed.
Published Date: Jun-2024
Published Date: Jun-2024
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