Black Soldier Fly (BSF) Market to Reach $3.4 Billion by 2030- Exclusive Report Covering Pre and Post COVID-19 Market Analysis and Forecasts by Meticulous Research - Seite 2

Impact of COVID-19 on the Black Soldier Fly Market

The outbreak of COVID-19 has had a significant impact on public health and all stages of the supply chain and various industries. The global impacts of the COVID-19 significantly affected the black soldier fly market in 2020.

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In some regions, lockdowns have been announced to control the coronavirus pandemic, impacting the movement of vehicles carrying livestock, feed, and feed ingredients. Due to the risk of animal feed, suppliers are slowing their production or closing altogether. Farmers are concerned they may need to slow or stop slaughterhouse operations and keep their animals for longer due to lower demand, requiring them to use more feed than usual. Even delivery trucks are difficult to procure. These factors have led to livestock farms building up two-week supplies of feed when normally they might only keep enough for one or two days. For example, Purina Animal Nutrition LLC, which uses black soldier fly as a feed ingredient, has seen a slight increase in its livestock business sales. In addition, Cargill had seen its global feed sales volume grow by 10% or more in March 2020.

The black soldier fly market is mainly segmented based on product, application, and geography. The study also evaluates industry competitors and analyzes the market at the country level.

Key Findings in the Global Black Soldier Fly Market Study:

Based on the product type, in terms of value, the protein meal segment accounted for the largest share of the overall black soldier fly market in 2020. The large share of this market is mainly attributed to the increasing demand for protein meals from animal feed manufacturers, increased fish meal and soy meal prices, and government support and approval for an insect meal to be used in animal feed. Moreover, in terms of volume, the biofertilizers segment commanded the largest share of the overall black soldier fly market in 2020. Growing waste from restaurants, agriculture, and food & drink industries; rising urbanization in developing countries; and growing awareness regarding the use of black soldier fly larvae to convert waste into organic fertilizer are some of the major factors driving the growth of the BSF biofertilizers market.