Canadian Black Soldier Fly Market Set to Soar, Projected Worth Reaches $18.4 Million by 2028

Meticulous Research® Forecasts Canada Black Soldier Fly Market to Reach $18.4 Million by 2028
Meticulous Research®, a prominent global market research company, has recently released a comprehensive research report titled "Canada Black Soldier Fly Market by Product (Whole Insect, Protein Meal, Frass, and Other BSF Products {, Pupa}) and Application (Poultry, Aquaculture, Pet Food, Livestock, and Other Applications) - Forecast to 2028".

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According to the latest findings by Meticulous Research®, the Canada black soldier fly market is anticipated to witness substantial growth, with a projected value of $18.4 million by 2028, representing a robust CAGR of 18.2% from 2021 to 2028. In terms of volume, the market is expected to reach 24,197.3 tons by 2028, growing at a CAGR of 23.2% during the forecast period.

The growth of the Canadian black soldier fly market is propelled by several factors, including the expanding aquaculture industry, heightened demand for alternative proteins in animal feed, and increasing governmental support for the local BSF sector. However, challenges persist, such as limited acceptance and approvals for Black Soldier Fly Larvae (BSFL) for human consumption. Additionally, the presence of cheaper substitutes poses a significant obstacle to market growth, despite potential opportunities arising from the use of chitin and chitosan in industrial applications.

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

Product Segmentation:
The Canada BSF market is segmented into various product categories, including whole insects, protein meal, oil, frass, and other BSF products. The protein meal segment is expected to dominate the market in terms of value, driven by heightened demand in the animal feed industry and supportive governmental policies. Conversely, the frass segment is anticipated to command the largest volume share owing to its cost-effectiveness compared to other BSF products.

Application Segmentation:
In terms of application, the market is segmented into poultry, aquaculture, pet food, livestock, and other applications. The aquaculture segment is expected to lead the market in 2021, buoyed by early regulatory approvals and the growing adoption of fish meal. Nevertheless, the pet food segment is poised to witness the highest CAGR during the forecast period, driven by the increasing inclination of leading pet food companies towards edible insects and anticipated product approvals.

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Key Players:
Some of the key players operating in the Canada black soldier fly market include Enterra Feed Corporation, Oreka Solutions, Snackyard BSF, Entosystem, Oberland Agriscience Inc., InnovaFeed, Protix, and EnviroFlight LLC.
For more information on the Canada Black Soldier Fly Market research report, visit Meticulous Research®.

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