Press release
Meticulous Research® Projects Middle East & Africa Black Soldier Fly Market to Reach $47.88 Million by 2033, Driven by Surge in Demand for Alternative Proteins
August 2024 - Meticulous Research®, a globally recognized market research firm, has released a new report titled, "Middle East & Africa Black Soldier Fly Market by Product, Application, and Country - Forecast to 2033." The report offers a comprehensive analysis of the region's black soldier fly (BSF) market, projecting significant growth over the next decade.Download Sample Report Here : https://www.meticulousresearch.com/download-sample-report/cp_id=5649
According to the report, the Middle East & Africa black soldier fly market is poised to grow from its current value, reaching $47.88 million by 2033, with an impressive compound annual growth rate (CAGR) of 20.2% from 2024 to 2033. This market expansion is primarily driven by the increasing adoption of insect-based feeds among farmers and feed processors, rising costs of traditional protein sources such as fish and soy meals, and the rapid growth of the aquaculture sector. However, the limited regulatory approval for incorporating black soldier fly larvae (BSFL) into the human diet may slightly hinder market growth.
Market Segmentation and Key Insights
The report segments the Middle East & Africa black soldier fly market by product, application, and geography:
By Product: The market is divided into protein meals, whole dried larvae, larvae oil, biofertilizers (frass), and other BSF products. The protein meals segment is expected to dominate the market in 2024, driven by high demand from the animal feed industry, rising prices of fish and soy meals, and supportive government regulations for insect meal usage in animal feed.
Check complete table of contents with list of table and figures: https://www.meticulousresearch.com/product/middle-east-and-africa-black-soldier-fly-market-5649
By Application: Key applications include animal feed, agriculture, pet food, and others. The animal feed segment is projected to hold the largest market share due to increasing meat consumption, which in turn fuels the demand for protein-rich feed, along with the growing acceptance of BSF meals as a viable alternative to traditional protein sources.
By Geography: South Africa is anticipated to experience the highest growth rate within the region during the forecast period. This growth is attributed to the country's growing interest in alternative proteins, expanding aquaculture sector, and the willingness of local farmers and feed processors to adopt insect-based feed solutions.
Competitive Landscape
The Middle East & Africa black soldier fly market is moderately competitive, with a mix of global, regional, and local players. Leading companies in this market include BioflyTech (Spain), Entoprotech Ltd (Israel), PROTICYCLE (South Africa), KIMMY FARM (Vietnam), and NovFeed (T) Limited (Tanzania). These companies are at the forefront of innovation, driving the adoption of BSF-based products across various applications.
Quick Buy: https://www.meticulousresearch.com/Checkout/53376511
Key Report Highlights
The report addresses crucial questions and offers insights into:
Current and projected market values and growth rates.
Key factors influencing market growth at the country level.
Major opportunities for both established players and new entrants.
High-growth product segments and applications.
Geographical trends and regions with significant growth potential.
Competitive strategies and recent developments in the market.
For detailed insights and further information, download a sample of the report here.
Request Free Sample PDF Copy Here: https://www.meticulousresearch.com/request-sample-report/cp_id=5649
About Meticulous Research®
Meticulous Research® is a trusted provider of market intelligence, offering detailed research and strategic insights across various industries. Our reports are tailored to help businesses make informed decisions, capitalize on emerging opportunities, and navigate challenges effectively.
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We are the trusted research partners for leading businesses around the world, providing market intelligence focused towards building revenue transformation strategies. Our research is used by Fortune 500 organizations to attain success by scouting next generation revenue opportunities well ahead of their competition.
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