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What Strategies Are Companies Adopting to Help the Middle East & Africa Black Soldier Fly Market Reach $47.88 Million by 2033?

user image 2024-08-23
By: Mayu14
Posted in: food and beverage

The ‘ 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 – Forecasts to 2033’ report forecasts the Middle East & Africa black soldier fly market to reach $47.88 million by 2033, with a notable CAGR of 20.2% throughout the forecast period.

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Factors Driving Growth The market's growth is largely driven by the high acceptance of insect integration into animal feeds by feed processors and farmers. The increasing demand for alternative proteins in the animal feed industry due to rising fish and soy meal prices, coupled with the expanding aquaculture industry, significantly contributes to this growth.

Potential Challenges Despite these positive trends, the market may face some limitations, particularly related to the restricted acceptance and regulatory approvals for BSFL in human diets, which could impact market expansion.

Market Segmentation The market is divided by product types, including whole dried larvae, oil, protein meals, biofertilizers (frass), and other BSF products. It is also segmented by application into agriculture, animal feed, pet food, and other uses. The geographical focus includes Saudi Arabia, UAE, South Africa, and the Rest of the Middle East & Africa. The report provides a detailed analysis of competitors and market dynamics at the country level.

Product Segment Growth Among the various product segments, protein meals are expected to experience the highest CAGR. This growth is driven by rising demand for protein meals from the animal feed sector, increased costs of fish and soy meals, and government endorsement of insect meal use in animal feed.

Application Segment Trends The animal feed segment is anticipated to dominate the market, driven by growing meat consumption and a corresponding increase in demand for protein-rich feed. The high cost of soy meal and the broad adoption of BSF meal in animal feed are key factors contributing to this trend.

Market Players and Developments The market has seen numerous product launches and strategic alliances recently. Major players in the market include BioflyTech (Spain), Entoprotech Ltd (Israel), PROTICYCLE (South Africa), KIMMY FARM (Vietnam), and NovFeed (T) Limited (Tanzania).

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