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South East Asia Black Soldier Fly Market
South East Asia 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 - 104882 Pages: 135 Jun-2024 Formats*: PDF Category: Food and Beverages Delivery: 24 to 72 HoursThe South East Asia Black Soldier Fly Market is slated to register a CAGR of 21.9% from 2024 to 2033 to reach $137.8 million by 2033. The growth of the South East Asia black soldier fly market is mainly attributed to the growing aquaculture industry, increasing demand for alternative proteins due to rising fish and soy meal prices, rising meat demand, and environmental sustainability with the production and consumption of alternative protein. Furthermore, the rising investment in insect-based processing companies is expected to create market growth opportunities. However, the limited acceptance and approvals for BSFL to be incorporated into the human diet and psychological and ethical barriers to consuming insects as food are expected to hinder the growth of this market to some extent. However, the high cost of skilled labor and the availability of cheaper substitutes are a challenge for market growth.
Key Players
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 South East Asia black soldier fly market are Protix B.V. (Netherlands), InnovaFeed SAS (France), EnviroFlight, LLC (U.S.), Nutrition Technologies Group (Malaysia), nextProtein (France), Hexafly (Ireland), SFly Comgraf SAS (France) Entobel Holding PTE. Ltd. (Singapore), Entofood (Malaysia), Insectta (Singapore), and Protenga Pte. Ltd. (Singapore).
Growing Aquaculture Industry
Over the last decade, many developing countries in Asia witnessed enormous growth in the aquaculture sector. For instance, according to the Food and Agriculture Organization (FAO), in South East Asia, aquaculture supply growth will increase by 50—100% from 2010 to 2030. Nutrition and feeding play a central and essential role in the sustained development of aquaculture. Hence, fertilizers and feed resources continue to dominate aquaculture needs. In fish farming, nutrition is critical because feed represents 40-50% of the production costs. Fish nutrition has advanced drastically in recent years with the development of new balanced commercial diets that promote optimal fish growth and health. The essential nutrients for fish growth are amino acids, fatty acids, vitamins, minerals, and energy-yielding macronutrients (protein, lipid, and carbohydrate).
BSF larvae contain high amounts of protein (~40%) and have a well-balanced profile of essential amino acids such as BSF is rich in methionine and lysine (9.05 and 22.3 g/kg DM, respectively). Therefore, it can be used as an alternative source of protein for fish feed. Owing to these factors, some countries have approved insect-based meals, such as BSFL, for aqua feed applications. For instance, In Singapore, the larvae have gotten the Singapore Food Agency's attention (SFA), which has approved their use as fish food.
Thus, the growing aquaculture industry and government approval for the insect as aqua feed boost the demand for BSF in the aquaculture industry.
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Key Findings in the South East Asia Black Soldier Fly Market Study
In 2024, the Protein Meals Segment to Dominate the South East Asia Black Soldier Fly Market
Based on product, the South East Asia black soldier fly market is segmented into protein meals, whole dried larvae, biofertilizers (frass), larvae oil, and other products. In 2024, the protein meals segment is expected to account for the largest share of the South East Asia black soldier fly market. The large market share of this segment is attributed to the rising aquaculture industry, increased fish meal and soy meal prices, and government support and approval for an insect meal containing higher indispensable amino acid contents than other meal types (contents closely related to fish meal) to be used in animal feed. This segment is also expected to register the fastest CAGR during the forecast.
In 2024, the Animal Feed Segment to Dominate the South East Asia Black Soldier Fly Market
Based on application, the South East Asia 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 South East Asia black soldier fly market. The large market share of this segment is attributed to the growing demand for meat products, rising soy meal prices, early government approval for the BSF to be used as a feed ingredient, and rising product innovation from animal feed companies. This segment is also expected to register the fastest CAGR during the forecast.
Malaysia Dominates the South East Asia Black Soldier Fly Market
The South East Asia black soldier fly market is segmented into: Malaysia, Vietnam, Thailand, Singapore, Indonesia, and the Rest of South East Asia. In 2024, Malaysia is expected to account for the largest share of the South East Asia black soldier fly market. The large market share of this country is attributed to the growing population and increasing demand for animal protein, the rising number of start-ups in the Malaysian BSF sector, and the increasing demand for BSFL in pet food. However, it is also slated to register the highest CAGR during the forecast period.
Scope of the Report:
South East Asia Black Soldier Fly Market Assessment, by Product
- Protein Meals
- Whole Dried Larvae
- Biofertilizers (Frass)
- Larvae Oil
- Other BSF Products
South East Asia Black Soldier Fly Market Assessment, by Application
- Animal Feed
- Agriculture
- Pet Food
- Other Applications
South East Asia Black Soldier Fly Market Assessment, by Country
- Malaysia
- Vietnam
- Thailand
- Singapore
- Indonesia
- Rest of South East Asia
Key Questions Answered in the Report:
The South East Asia black soldier fly market is projected to reach $137.8 million by 2033, at a CAGR of 21.9% from 2024 to 2033.
The protein meal segment is expected to account for the largest share of the South East Asia 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.
- Growing Aquaculture Industry
- Increasing Demand for Alternative Proteins Due to Rising Prices of Fish and Soy Meal
- Rising Meat Demand
- Environmental Sustainability with Production and Consumption of Alternative Protein
- Limited Acceptance and Approvals for BSFL to be Incorporated into the Human Diet
- Psychological and Ethical Barriers to Consuming Insects as Food
The major key players operating in the South East Asia black soldier fly market are Protix B.V. (Netherlands), InnovaFeed SAS (France), EnviroFlight, LLC (U.S.), Nutrition Technologies Group (Malaysia), nextProtein (France), Hexafly (Ireland), SFly Comgraf SAS (France) Entobel Holding PTE. Ltd. (Singapore), Entofood (Malaysia), Insectta (Singapore), and Protenga Pte. Ltd. (Singapore).
Malaysia is slated to register the highest CAGR during the forecast period. The rapid growth of this region is mainly attributed to the growing population and increasing demand for animal protein, the rising number of start-ups in the Malaysian BSF sector, and the increasing demand for BSFL in pet food.
1. Introduction
1.1. Market Definition & Scope
1.2. Market Ecosystem
1.3. Currency
1.4. Key Stakeholders
2. Research Methodology
2.1. Research Approach
2.2. Process of Data Collection and Validation
2.2.1. Secondary Research
2.2.2. Primary Research/Interviews with Key Opinion Leaders of the Industry
2.3. Market Sizing and Forecasts
2.3.1. Market Size Estimation Approach
2.3.2. Growth Forecast Approach
2.4. Assumptions for the Study
3. Executive Summary
3.1. Overview
3.2. Segment Analysis
3.2.1. South East Asia Black Soldier Fly Market, By Product
3.2.2. South East Asia Black Soldier Fly Market, By Application
3.3. South East Asia Black Soldier Fly Market Regional Analysis
3.4. Competitive Landscape & Market Competitors
4. Market Insights
4.1. Overview
4.2. Drivers
4.2.1. Growing Aquaculture Industry
4.2.2. Increasing Demand for Alternative Proteins Due to Rising Prices of Fish and Soy Meal
4.2.3. Rising Demand for Meats
4.2.4. Environmental Sustainability with Production and Consumption of Alternative Protein
4.3. Restraints
4.3.1. Limited Acceptance and Approvals for BSFL to be Incorporated into the Human Diet
4.3.2. Psychological and Ethical Barriers to Consuming Insects as Food
4.4. Opportunities
4.4.1. Rising Investment in Insect-based Processing Companies
4.5. Challenges
4.5.1. High Cost of Skilled Labor
4.5.2. Availability of Cheaper Substitutes
4.6. Regulatory Analysis
4.7. Porter’s Five Forces Analysis
4.7.1. Bargaining Power of Suppliers
4.7.2. Bargaining Power of Buyers
4.7.3. Threat of Substitutes
4.7.4. Threat of New Entrants
4.7.5. Degree of Competition
4.8. Swot Analysis
4.9. Marketing Mix and Strategies
4.9.1. Pricing Strategy
4.9.2. Product Approvals
4.9.3. Expansion Plans
5. BSF Processing
5.1. Overview
5.2. Feedstock Preparation
5.3. Rearing Units
5.3.1. BSF: Life Cycle
5.4. Processing Units
5.4.1. BSF Oil Extraction Process
5.4.1.1. Processing Method
5.4.1.2. Processing Equipment
5.4.2. Protein Extraction Process
5.4.2.1. Processing Method
5.4.2.2. Processing Equipment
5.5. Storage
6. Cost Analysis
6.1. BSF Farms Operating Cost Analysis, by Farm Capacity
6.2. Pricing Analysis, by Product, by Country
6.2.1. Protein Meal
6.2.2. Biofertilizer (Frass)
6.2.3. Whole Dried Larvae
6.2.4. Larvae Oil
6.2.5. Others (Live- Larvae, Adult, Cocoon, Pupa)
7. Opportunity Analysis: BSF-Derived Chitin and Chitosan
7.1. BSF-Derived Chitin Trends
7.2. Chitin/Chitosan
7.2.1. Pricing Analysis
7.2.2. Potential Use of Chitin and Chitosan in Industrial Applications
8. South East Asia Black Soldier Fly Market Assessment — by Product
8.1. Overview
8.2. Protein Meals
8.3. Whole Dried Larvae
8.4. Biofertilizers (Frass)
8.5. Larvae Oil
8.6. Other BSF Products
9. South East Asia Black Soldier Fly Market Assessment — by Application
9.1. Overview
9.2. Animal Feed
9.3. Agriculture
9.4. Pet Food
9.5. Other Applications
10. South East Asia Black Soldier Fly Market Assessment— by Country/Region
10.1. Overview
10.2. Malaysia
10.3. Vietnam
10.4. Thailand
10.5. Singapore
10.6. Indonesia
10.7. Rest of South East Asia
11. Competition Analysis
11.1. Overview
11.2. Key Growth Strategies
11.3. Competitive Dashboard
11.3.1. Industry Leaders
11.3.2. Market Differentiators
11.3.3. Vanguards
11.3.4. Emerging Companies
11.4. Competitive Benchmarking
12. Company Profile (Company Overview, Financial Overview, Product Portfolio, Strategic Developments, and SWOT Analysis of Top 5 Companies)
12.1. Protix B.V.
12.2. InnovaFeed SAS
12.3. EnviroFlight, LLC
12.4. Nutrition Technologies Group
12.5. SFly Comgraf SAS
12.6. Protenga Pte Ltd.
12.7. Entobel Holding PTE. Ltd.
12.8. Entofood
12.9. Insectta
13. Appendix
13.1. Available Customization
13.2. Related Reports
List of Tables
Table 1 Insect Application and Approval Status
Table 2 Processing Parameters for Dry and Wet Processing Methods of BSFL
Table 3 South East Asia: Average Operating Cost of BSF Farms Per Day, by Farm Capacity (USD)
Table 4 Average Selling Prices of Protein Meal, by Country, 2024–2033 (USD/Ton)
Table 5 Average Selling Prices of Biofertilizers (Frass), by Country, 2024–2033 (USD/Ton)
Table 6 Average Selling Prices of Whole Dried Larvae, by Country, 2024–2033 (USD/Ton)
Table 7 Average Selling Prices of Larvae Oil, by Country, 2024–2033 (USD/Ton)
Table 8 Average Selling Prices of Other BSF Products, by Country, 2024–2033 (USD/Ton)
Table 9 Chitin/Chitosan Market, by Country, 2025—2033 (USD Thousand)
Table 10 Chitin/Chitosan Market, by Country, 2025—2033 (Tons)
Table 11 South East Asia Black Soldier Fly Market, by Product, 2021–2033 (USD Thousand)
Table 12 South East Asia Black Soldier Fly Market, by Product, 2021–2033 (Tons)
Table 13 South East Asia Black Soldier Fly Protein Meals Market, by Country, 2021–2033 (USD Thousand)
Table 14 South East Asia Black Soldier Fly Protein Meals Market, by Country, 2021–2033 (Tons)
Table 15 South East Asia Black Soldier Fly Whole Dried Larvae Market, by Country, 2021–2033 (USD Thousand)
Table 16 South East Asia Black Soldier Fly Whole Dried Larvae Market, by Country, 2021–2033 (Tons)
Table 17 South East Asia Black Soldier Fly Biofertilizers (Frass) Market, by Country, 2021–2033 (USD Thousand)
Table 18 South East Asia Black Soldier Fly Biofertilizers (Frass) Market, by Country, 2021–2033 (Tons)
Table 19 South East Asia Black Soldier Fly Larvae Oil Market, by Country, 2021–2033 (USD Thousand)
Table 20 South East Asia Black Soldier Fly Larvae Oil Market, by Country, 2021–2033 (Tons)
Table 21 South East Asia Other Black Soldier Fly Products Market, by Country, 2021–2033 (USD Thousand)
Table 22 South East Asia Other Black Soldier Fly Products Market, by Country, 2021–2033 (Tons)
Table 23 South East Asia Black Soldier Fly Market, by Application, 2021–2033 (USD Thousand)
Table 24 South East Asia Black Soldier Fly Market for Animal Feed, by Country, 2021–2033 (USD Thousand)
Table 25 South East Asia Black Soldier Fly Market for Agriculture, by Country, 2021–2033 (USD Thousand)
Table 26 South East Asia Black Soldier Fly Market for Pet Food, by Country, 2021–2033 (USD Thousand)
Table 27 South East Asia Black Soldier Fly Market for Other Applications, by Country, 2021–2033 (USD Thousand)
Table 28 South East Asia: Black Soldier Fly Market, by Country, 2021–2033 (USD Thousand)
Table 29 South East Asia: Black Soldier Fly Market, by Country, 2021–2033 (Tons)
Table 30 Malaysia: Black Soldier Fly Market, by Product, 2021–2033 (USD Thousand)
Table 31 Malaysia: Black Soldier Fly Market, by Product, 2021–2033 (Tons)
Table 32 Malaysia: Black Soldier Fly Market, by Application, 2021–2033 (USD Thousand)
Table 33 Vietnam: Black Soldier Fly Market, by Product, 2021–2033 (USD Thousand)
Table 34 Vietnam: Black Soldier Fly Market, by Product, 2021–2033 (Tons)
Table 35 Vietnam: Black Soldier Fly Market, by Application, 2021–2033 (USD Thousand)
Table 36 Thailand: Black Soldier Fly Market, by Product, 2021–2033 (USD Thousand)
Table 37 Thailand: Black Soldier Fly Market, by Product, 2021–2033 (Tons)
Table 38 Thailand: Black Soldier Fly Market, by Application, 2021–2033 (USD Thousand)
Table 39 Singapore: Black Soldier Fly Market, by Product, 2021–2033 (USD Thousand)
Table 40 Singapore: Black Soldier Fly Market, by Product, 2021–2033 (Tons)
Table 41 Singapore: Black Soldier Fly Market, by Application, 2021–2033 (USD Thousand)
Table 42 Indonesia: Black Soldier Fly Market, by Product, 2021–2033 (USD Thousand)
Table 43 Indonesia: Black Soldier Fly Market, by Product, 2021–2033 (Tons)
Table 44 Indonesia: Black Soldier Fly Market, by Application, 2021–2033 (USD Thousand)
Table 45 Rest of South East Asia: Black Soldier Fly Market, by Product, 2021–2033 (USD Thousand)
Table 46 Rest of South East Asia: Black Soldier Fly Market, by Product, 2021–2033 (Tons)
Table 47 Rest of South East Asia: Black Soldier Fly Market, by Application, 2021–2033 (USD Thousand)
List of Figures
Figure 1 Market Ecosystem
Figure 2 Research Process
Figure 3 Key Secondary Sources
Figure 4 Primary Research Techniques
Figure 5 Key Executives Interviewed
Figure 6 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 7 Market Size Estimation
Figure 8 The Protein Meal Segment to Dominate the Market
Figure 9 The Animal Feed Segment to Dominate the Market
Figure 10 Malaysia to Dominate the South East Asia Black Soldier Fly Market
Figure 11 Factors Affecting Market Growth
Figure 12 South East Asia: Regulatory Approval for Insect Use in Animal Feed
Figure 13 Porter’s Five Forces Analysis: South East Asia BSF Market
Figure 14 Swot Analysis: South East Asia BSF Market
Figure 15 Steps Involved in BSF Processing
Figure 16 Life Cycle of the BSF
Figure 17 Processing of BSF Insect Oil
Figure 18 Processing of BSF Insect Protein
Figure 19 Average Selling Prices of Protein Meal, by Country, 2024–2033 (USD/Tons)
Figure 20 Average Selling Prices of Biofertilizer (Frass), by Country, 2024–2033 (USD/Tons)
Figure 21 Average Selling Prices of Whole Dried Larvae, by Country, 2024–2033 (USD/Tons)
Figure 22 Average Selling Prices of BSF Insect Oil, by Country, 2024–2033 (USD/Tons)
Figure 23 Average Selling Prices of Other BSF Products, by Country, 2024–2033 (USD/Tons)
Figure 24 SWOT Analysis: BSF-Derived Chitin & Chitosan Industry
Figure 25 Commonly Suggested Market Disruption Strategies for BSF-Derived Chitin & Chitosan
Figure 26 South East Asia Black Soldier Fly Market, by Product, 2022–2033 (USD Thousand)
Figure 27 South East Asia Black Soldier Fly Market, by Product, 2024–2033 (Tons)
Figure 28 South East Asia Black Soldier Fly Market, by Application, 2024–2033 (USD Thousand)
Figure 29 South East Asia Black Soldier Fly Market, by Country, 2024–2033 (USD Thousand)
Figure 30 South East Asia Black Soldier Fly Market, by Country, 2024–2033 (Tons)
Figure 31 South East Asia: Black Soldier Fly Market Snapshot
Figure 32 Key Growth Strategies Adopted by Leading Players, 2020-2024
Figure 33 Competitive Dashboard: South East Asia Black Soldier Fly Market
Figure 34 Competitive Benchmarking of Key Players, by Product Offering
Figure 35 Protix: Major Product Category
Figure 36 Protix Fundings
Figure 37 Innovafeed: Major Product Category
Figure 38 Innovafeed Fundings
Figure 39 Enviroflight: Major Product Category
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