Press release
Middle East & Africa Black Soldier Fly Market to Reach $47.88 Million by 2033
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.'Download Free Report Sample Now: https://www.meticulousresearch.com/download-sample-report/cp_id=5649
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.
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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.
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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.
Key Players
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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Key Questions Answered in the Report-
1 What is the current value of revenue generated by the Middle East & Africa black soldier fly market?
2 At what rate is the Middle East & Africa black soldier fly demand projected to grow for the next 5-7 years?
3 What are the historical market sizes and growth rates of the Middle East & Africa black soldier fly market?
4 What are the major factors impacting the growth of this market at the country level? What are the major opportunities for existing players and new entrants in the market?
5 Which segments in terms of product and application category create major traction for the manufacturers in this market?
6 What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the Middle East & Africa black soldier fly market?
7 Who are the major players in the Middle East & Africa black soldier fly market? What are their specific product offerings in this market?
8 What are the recent strategic developments in the Middle East & Africa black soldier fly market? What are the impacts of these strategic developments on the market?
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About Meticulous Research®
Meticulous Research® was founded in 2010 and incorporated as Meticulous Market Research Pvt. Ltd. in 2013 as a private limited company under the Companies Act, 1956. Since its incorporation, the company has become the leading provider of premium market intelligence in North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa.
The name of our company defines our services, strengths, and values. Since the inception, we have only thrived to research, analyze, and present the critical market data with great attention to details. With the meticulous primary and secondary research techniques, we have built strong capabilities in data collection, interpretation, and analysis of data including qualitative and quantitative research with the finest team of analysts. We design our meticulously analyzed intelligent and value-driven syndicate market research reports, custom studies, quick turnaround research, and consulting solutions to address business challenges of sustainable growth.
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