Canada Black Soldier Fly (BSF) Market Worth $18.4 Million

Redding, Calif., December 6, 2021 (GLOBE NEWSWIRE) – According to a new market research report titled “Canada Black Soldier Fly Market by Product (Whole Insects, Protein Meal, Frass, and Other BSF Products {cocoons, Puppets}) and Application (Poultry, Aquaculture, Pet Food, Livestock, and Other Applications) – Forecast to 2028”, Published by Meticulous Research®, the Canadian black soldier flies market is expected to grow at an annual growth rate of 18.2% to $ 18.4 million by 2028 from 2021 to 2028, a CAGR of 23.2% from 2021 to 2028, to reach 24,197.3 tons by 2028.

Download a free sample report now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5230

Black soldier fly (Hermetia illucens) is a revolutionary species of insect that emerged as a solution for the animal feed industry and as an alternative source of protein. Black soldier fly larvae (BSFL) can grow on organic waste and convert manure into protein and lipids. BSF flour is rich in proteins (40-44%) and lipids (7-36%) and has therefore proven to be a cheaper protein alternative for animal feed applications. In addition, high-quality chitin can be obtained from defatted BSF exoskeletons. This chitin can be further processed into high quality chitosan, which has potential uses in agriculture, pest control, water treatment, food preservation, etc. In Canada, the government has allowed the use of BSF-derived products for feed, agriculture and pet food applications, accelerating the growth of the BSF industry.

COVID-19 Pandemic Impact Analysis on the Black Soldier Fly Market in Canada

The COVID-19 crisis had a mixed impact on the black soldier fly market in Canada. This pandemic has accelerated the demand for black soldier fly products due to their sustainability and high nutritional profile. However, from a manufacturing and sales perspective, this industry faced some challenges. This outbreak disrupted the sustainability of the BSF chain in a number of areas, from sourcing organic waste to the production process and consumption of animal feed products. The main logistical disruptor to BSF has been the lack of means of access such as organic waste material, slaughterhouse waste, and other important means of production. Indeed, calls to stay home and prevent social distancing have impacted agriculture-dependent services and routine labor in manufacturing facilities.

Talk to our analysts to understand the impact COVID-19 is having on your business: https://www.meticulousresearch.com/speak-to-analyst/cp_id=5230

In addition, the feed industry was another obstacle to completing the production cycle and marketing process. Reduced marketing opportunities, blocking of import and export activities and lower purchasing power are also some factors in the animal feed industry that endanger BSF producers. This situation dramatically threatened the sustainability of BSF production systems in Canada in early 2020. In 2021, however, following the easing of COVID-19 regulations, the animal feed industry’s demand for alternative proteins will increase due to rising prices and shortages of soybean meal, and the Canadian government’s increasing support for the use of insect meal in cattle feed, making the new environmentally friendly Protein source like the one that gave the black soldier fly a boost.

Market Overview of the Canadian Black Soldier Fly Market

Based on the product type, the Canadian BSF market is divided into Whole Insect, Protein Meal, Oil, Frass, and other BSF products. In terms of value, the protein meal segment is expected to have the largest share of the Canadian black soldier fly market in 2021. Growing demand for protein meal in the animal feed industry, increased prices for fish meal, and government support and approval for insect feed meal are key drivers of the demand for protein meal. In addition, the Frass segment is estimated to have the largest share of the Canadian black soldier fly market in terms of volume. The large proportion of this segment is mainly attributed to the high efficiency of feeding fertilizers of the black soldier fly in agriculture and their large production compared to other BSF products at lower prices.

Quick Buy – Canada Black Soldier Fly Market Research Report: https://www.meticulousresearch.com/Checkout/20020310

Depending on the application, the Canadian BSF market is divided into poultry, aquaculture, pet food, livestock, and other uses. The aquaculture segment is expected to have the largest share of the Canadian black soldier fly market in 2021. The large portion of the segment is mainly attributed to the early regulatory approval of BSF for use in the aquaculture industry and the volatile prices for fishmeal. However, the pet food segment is expected to experience increased demand over the forecast period due to the emergence of leading pet food companies in the edible insect space, an expected increase in product approvals in the coming years, and an increasing customer willingness to have the highest CAGR in providing high quality pet food for premium pet food products and an increase in the pet population with a significant increase in pet spending.

The main players in the Canadian black soldier fly market are Enterra Feed Corporation (Canada), Oreka Solutions (Canada), Snackyard BSF (Canada), Entosystem (Canada), Oberland Agriscience Inc. (Canada), InnovaFeed (France), Protix (Netherlands) ) and EnviroFlight LLC. (USA) among others.

For more insights into the market with a detailed table of contents and figures, click here: https://www.meticulousresearch.com/product/canada-black-soldier-fly-market-5230

Scope of the report

Canada Black Soldier Fly Market, by product

  • Whole insect
  • Protein meal
  • oil
  • Eat
  • Other

Canada Black Soldier Flies Market After Application

  • poultry
  • Aquaculture
  • Animal feed
  • cattle
  • Other uses

Download a free sample report now @ https://www.meticulousresearch.com/download-sample-report/cp_id=5230

In the midst of this crisis, Meticulous Research® is continuously assessing the impact of the COVID-19 pandemic on various sub-markets, enabling global organizations to develop strategies for the post-COVID-19 world and maintain its growth. Let us know here if you’d like to assess the impact of COVID-19 on an industry. https://www.meticulousresearch.com/custom-research

Related reports:

Black Soldier Flies Market by Product (Protein Meals, Biodegradable Fertilizers, Chitin / Chitosan, Others {cocoons, dolls}), Application (Animal Feed, Agriculture, Pet Food, Pharmaceuticals, Cosmetics, Biofuels), and Geography – Global Forecast to 2030

https://www.meticulousresearch.com/product/black-soldier-fly-market-5074

Edible Insects Market by Product (Whole Insects, Insect Powder, Insect Meal, Insect Oil) Insect Type (Crickets, Black Soldier Fly, Mealworms), Application (Pet Food, Protein Bars and Shakes, Bakery, Confectionery, Beverage) – Global Forecast to 2027

https://www.meticulousresearch.com/product/edible-insects-market-5156

Alternative Proteins Market by Level / Type (Emerging Alternative Protein, Youthful Alternative Protein, Matured Alternative Protein), Application (Herbal Products, Insect Based Products, Microbial Products) – Global Forecast to 2027

https://www.meticulousresearch.com/product/alternative-protein-market-4985

About Careful Research®

Meticulous Research® was founded in 2010 and was renamed Meticulous Market Research Pvt. Ltd. in 2013 as a limited liability company under the Companies Act of 1956. Since its inception, the company has grown to become the leading provider of premium market intelligence in North America, Europe, Asia Pacific, Latin America and the Middle East and Africa.

The name of our company defines our services, strengths and values. Since the foundation we have only got used to researching, analyzing and presenting the critical market data with great attention to detail. With the meticulous primary and secondary research techniques, we have built strong skills in data collection, interpretation and analysis of data, including qualitative and quantitative research with the best team of analysts. We develop our carefully analyzed intelligent and value-oriented market research reports, custom studies, quick turnaround research and consulting solutions to meet the business challenges of sustainable growth.

Contact:
Mr. Khushal bomb
Meticulous Market Research Inc.
1267 Willis St, Ste 200 Redding,
California, 96001, USA
USA: + 1-646-781-8004
Europe: + 44-203-868-8738
APAC: +91 744-7780008
Email [email protected]
Visit our website: https://www.meticulousresearch.com/
Connect with us on LinkedIn – https://www.linkedin.com/company/meticulous-research
Content source: https://www.meticulousresearch.com/pressrelease/450/canada-black-soldier-fly-market-2028

Comments are closed.