Canada Black Soldier Fly Market by Product (Whole Insect, Protein Meal, Frass, and Other BSF Products {Cocoons, Pupa}) and Application (Poultry, Aquaculture, Pet Food, Livestock, and Other Applications) - Forecast to 2028
Canada Black Soldier Fly Market by Product (Whole Insect, Protein Meal, Frass, and Other BSF Products {Cocoons, Pupa}) and Application (Poultry, Aquaculture, Pet Food, Livestock, and Other Applications) - Forecast to 2028
The research report titled “Canada Black Soldier Fly Market by Product (Whole Insect, Protein Meal, Frass, and Other BSF Products {Cocoons, Pupa}) and Application (Poultry, Aquaculture, Pet Food, Livestock, and Other Applications) - Forecast to 2028” provides in-depth analysis of black soldier fly market in Canada and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2028. Canada Black Soldier Fly Market is expected to reach $18.4 million by 2028, growing at a CAGR of 18.2% during the forecast period of 2021 to 2028. This market is majorly driven by the factors such as the growing aquaculture industry, rising demand for alternative proteins in the animal feed industry, and increasing government and support for the Canadian BSF industry.
The global population is rising exponentially along with economic growth and changing dietary patterns. These factors are expected to support and account for a 70% increase in the demand for livestock products by 2050. The prices of livestock-based products are increasing consistently due to rising feed costs. Presently, feed cost contributes ~60–70% to the total livestock production cost. Fish and soybean meal are the major protein sources for feed. However, these sources also cater to human food requirements. Moreover, the availability of fish meals has become limited due to the over-exploitation of marine resources, causing a rapid increase in the cost of these feed ingredients. As a result, the search for sustainable alternatives has led to a growing interest in using BSF as a feed ingredient.
The study offers a comprehensive analysis of the Canada black soldier fly market with respect to product (whole insect, protein meal, oil, frass, and others) and application (poultry, aquaculture, pet food, livestock, and other applications). The study also evaluates various marketing strategies adopted by key market players.
Based on product, the Canada BSF market is segmented into whole insects, protein meal, oil, frass, and other BSF products. In terms of value, the protein meal segment is expected to command the largest share of the Canada black soldier fly market in 2021. This segment is also projected to grow at the highest CAGR during the forecast period. The key factors supporting the growth in this segment include the increasing demand for protein meals in the animal feed industry, increased fish meal prices, and government support and approval for insect meal to be used in animal feed. However, in terms of volume, the frass segment is estimated to command the largest share of the Canada black soldier fly market.
Based on application, the Canada BSF market is segmented into poultry, aquaculture, pet food, livestock, and other applications. The aquaculture segment is expected to account for the largest share of the Canada black soldier fly market in 2021. However, the pet food segment is projected to grow at the highest CAGR during the forecast period. The key factors supporting the strong growth in the pet food segment are the emergence of leading pet food companies in the edible insects’ space and an expected increase in the number of related product approvals in upcoming years.
Key questions answered in the report-
Canada Black Soldier Fly Market, by Product
The research report titled “Canada Black Soldier Fly Market by Product (Whole Insect, Protein Meal, Frass, and Other BSF Products {Cocoons, Pupa}) and Application (Poultry, Aquaculture, Pet Food, Livestock, and Other Applications) - Forecast to 2028” provides in-depth analysis of black soldier fly market in Canada and emphasizes on the current market trends, market size, market share, recent developments, and forecast till 2028. Canada Black Soldier Fly Market is expected to reach $18.4 million by 2028, growing at a CAGR of 18.2% during the forecast period of 2021 to 2028. This market is majorly driven by the factors such as the growing aquaculture industry, rising demand for alternative proteins in the animal feed industry, and increasing government and support for the Canadian BSF industry.
The global population is rising exponentially along with economic growth and changing dietary patterns. These factors are expected to support and account for a 70% increase in the demand for livestock products by 2050. The prices of livestock-based products are increasing consistently due to rising feed costs. Presently, feed cost contributes ~60–70% to the total livestock production cost. Fish and soybean meal are the major protein sources for feed. However, these sources also cater to human food requirements. Moreover, the availability of fish meals has become limited due to the over-exploitation of marine resources, causing a rapid increase in the cost of these feed ingredients. As a result, the search for sustainable alternatives has led to a growing interest in using BSF as a feed ingredient.
The study offers a comprehensive analysis of the Canada black soldier fly market with respect to product (whole insect, protein meal, oil, frass, and others) and application (poultry, aquaculture, pet food, livestock, and other applications). The study also evaluates various marketing strategies adopted by key market players.
Based on product, the Canada BSF market is segmented into whole insects, protein meal, oil, frass, and other BSF products. In terms of value, the protein meal segment is expected to command the largest share of the Canada black soldier fly market in 2021. This segment is also projected to grow at the highest CAGR during the forecast period. The key factors supporting the growth in this segment include the increasing demand for protein meals in the animal feed industry, increased fish meal prices, and government support and approval for insect meal to be used in animal feed. However, in terms of volume, the frass segment is estimated to command the largest share of the Canada black soldier fly market.
Based on application, the Canada BSF market is segmented into poultry, aquaculture, pet food, livestock, and other applications. The aquaculture segment is expected to account for the largest share of the Canada black soldier fly market in 2021. However, the pet food segment is projected to grow at the highest CAGR during the forecast period. The key factors supporting the strong growth in the pet food segment are the emergence of leading pet food companies in the edible insects’ space and an expected increase in the number of related product approvals in upcoming years.
Key questions answered in the report-
- Which are the high-growth market segments in terms of the product and application?
- What is the historical market for black soldier fly in Canada?
- What are the market forecasts and estimates for the period of 2021-2028?
- What are the major drivers, restraints, opportunities, and challenges in the Canada black soldier fly market?
- Who are the major players in the Canadian market?
- What is the different marketing mix and strategies adopted by the major players in the market?
Canada Black Soldier Fly Market, by Product
- Whole Insect
- Protein Meal
- Oil
- Frass
- Others
- Poultry
- Aquaculture
- Pet Food
- Livestock
- Other Applications
1. INTRODUCTION
1.1. Market Definition
1.2. Currency
1.3. Key Stakeholders
2. RESEARCH METHODOLOGY
2.1. Research Approach
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-Up
2.3.1.2. Top-Down Approach
2.3.1.3. Growth Forecast
2.4. Assumptions for the Study
2.5. Limitations for the Study
3. EXECUTIVE SUMMARY
3.1. Introduction
3.2. Segment Analysis
3.2.1. Canada BSF Market, by Product
3.2.2. Canada BSF Market, by Application
3.2.3. Key Players
4. MARKET INSIGHTS
4.1. Introduction
4.2. Drivers
4.2.1. Growing Aquaculture Industry
4.2.2. Rising Demand for Alternative Proteins in the Animal Feed Industry
4.2.3. Increasing Government Support for the Canadian BSF Industry
4.3. Restraints
4.3.1. Limited Acceptance and Approvals for BSFL to be Incorporated into the Human Diet
4.4. Opportunities
4.4.1. Potential Use of Chitin and Chitosan in Industrial Applications
4.5. Challenges
4.5.1. Availability of Cheaper Substitutes
4.6. Porter’s Five Forces Analysis
4.6.1. Bargaining Power of Suppliers
4.6.2. Bargaining Power of Buyers
4.6.3. Threat of Substitutes
4.6.4. Threat of New Entrants
4.6.5. Degree of Competition
4.7. SWOT Analysis
4.8. Marketing Mix and Strategies
4.8.1. Pricing Strategy
4.8.2. Product Approvals
4.8.3. Expansion Plans
4.8.4. Funding
4.9. Canada BSF Pricing Analysis, by Product, 2019-2028 (USD)
5. CANADA BSF FARMS OPERATING COST ANALYSIS, BY FARM CAPACITY
5.1. Introduction
6. CANADA BLACK SOLDIER FLY MARKET, BY PRODUCT
6.1. Introduction
6.2. Whole Insect (Whole Dried Larvae)
6.3. Protein Meal
6.4. Oil (Larvae Oil)
6.5. Frass (Biofertilizers)
6.6. Other BSF Products
7. CANADA BLACK SOLDIER FLY MARKET, BY APPLICATION
7.1. Introduction
7.2. Poultry
7.3. Aquaculture
7.4. Pet Food
7.5. Livestock
7.6. Other Applications
8. COMPANY PROFILES
8.1. Enterra Feed Corporation
8.2. Oreka Solutions
8.3. Snackyard BSF
8.4. Entosystem
8.5. Oberland Agriscience Inc.
8.6. Innovafeed
8.7. Protix
8.8. Enviroflight, LLC
9. LIST OF COMPANIES PROVIDING EQUIPMENT FOR BSF FARMS
10. LIST OF CONTACTS RELATED TO THE CANADIAN BSF INDUSTRY
11. LIST OF POTENTIAL CUSTOMERS FOR BSF PRODUCTS IN CANADA
12. APPENDIX
12.1. Questionnaire
12.2. Available Customization
1.1. Market Definition
1.2. Currency
1.3. Key Stakeholders
2. RESEARCH METHODOLOGY
2.1. Research Approach
2.2. Data Collection & Validation
2.2.1. Secondary Research
2.2.2. Primary Research
2.3. Market Assessment
2.3.1. Market Size Estimation
2.3.1.1. Bottom-Up
2.3.1.2. Top-Down Approach
2.3.1.3. Growth Forecast
2.4. Assumptions for the Study
2.5. Limitations for the Study
3. EXECUTIVE SUMMARY
3.1. Introduction
3.2. Segment Analysis
3.2.1. Canada BSF Market, by Product
3.2.2. Canada BSF Market, by Application
3.2.3. Key Players
4. MARKET INSIGHTS
4.1. Introduction
4.2. Drivers
4.2.1. Growing Aquaculture Industry
4.2.2. Rising Demand for Alternative Proteins in the Animal Feed Industry
4.2.3. Increasing Government Support for the Canadian BSF Industry
4.3. Restraints
4.3.1. Limited Acceptance and Approvals for BSFL to be Incorporated into the Human Diet
4.4. Opportunities
4.4.1. Potential Use of Chitin and Chitosan in Industrial Applications
4.5. Challenges
4.5.1. Availability of Cheaper Substitutes
4.6. Porter’s Five Forces Analysis
4.6.1. Bargaining Power of Suppliers
4.6.2. Bargaining Power of Buyers
4.6.3. Threat of Substitutes
4.6.4. Threat of New Entrants
4.6.5. Degree of Competition
4.7. SWOT Analysis
4.8. Marketing Mix and Strategies
4.8.1. Pricing Strategy
4.8.2. Product Approvals
4.8.3. Expansion Plans
4.8.4. Funding
4.9. Canada BSF Pricing Analysis, by Product, 2019-2028 (USD)
5. CANADA BSF FARMS OPERATING COST ANALYSIS, BY FARM CAPACITY
5.1. Introduction
6. CANADA BLACK SOLDIER FLY MARKET, BY PRODUCT
6.1. Introduction
6.2. Whole Insect (Whole Dried Larvae)
6.3. Protein Meal
6.4. Oil (Larvae Oil)
6.5. Frass (Biofertilizers)
6.6. Other BSF Products
7. CANADA BLACK SOLDIER FLY MARKET, BY APPLICATION
7.1. Introduction
7.2. Poultry
7.3. Aquaculture
7.4. Pet Food
7.5. Livestock
7.6. Other Applications
8. COMPANY PROFILES
8.1. Enterra Feed Corporation
8.2. Oreka Solutions
8.3. Snackyard BSF
8.4. Entosystem
8.5. Oberland Agriscience Inc.
8.6. Innovafeed
8.7. Protix
8.8. Enviroflight, LLC
9. LIST OF COMPANIES PROVIDING EQUIPMENT FOR BSF FARMS
10. LIST OF CONTACTS RELATED TO THE CANADIAN BSF INDUSTRY
11. LIST OF POTENTIAL CUSTOMERS FOR BSF PRODUCTS IN CANADA
12. APPENDIX
12.1. Questionnaire
12.2. Available Customization
LIST OF TABLES
Table 1 Canada Black Soldier Fly Market Drivers: Impact Analysis (2021–2028)
Table 2 Canada Black Soldier Fly Market Restraints: Impact Analysis (2021–2028)
Table 3 Innovafeed: Funding History
Table 4 Canada: Average Operating Cost of BSF Farms Per Day, by Farm Capacity (USD)
Table 5 Canada Black Soldier Fly Market Size, by Product, 2019–2028 (USD Thousand)
Table 6 Canada Black Soldier Fly Market Size, by Product, 2019–2028 (Tons)
Table 7 Canada Black Soldier Fly Market Size, by Application, 2019–2028 (USD Thousand)
Table 8 List of Companies Providing Equipment for BSF Farms
Table 9 List of Contacts Related to the Canadian BSF Industry
Table 10 List of Potential Customers for BSF Products in Canada
Table 1 Canada Black Soldier Fly Market Drivers: Impact Analysis (2021–2028)
Table 2 Canada Black Soldier Fly Market Restraints: Impact Analysis (2021–2028)
Table 3 Innovafeed: Funding History
Table 4 Canada: Average Operating Cost of BSF Farms Per Day, by Farm Capacity (USD)
Table 5 Canada Black Soldier Fly Market Size, by Product, 2019–2028 (USD Thousand)
Table 6 Canada Black Soldier Fly Market Size, by Product, 2019–2028 (Tons)
Table 7 Canada Black Soldier Fly Market Size, by Application, 2019–2028 (USD Thousand)
Table 8 List of Companies Providing Equipment for BSF Farms
Table 9 List of Contacts Related to the Canadian BSF Industry
Table 10 List of Potential Customers for BSF Products in Canada
LIST OF FIGURES
Figure 1 Research Process
Figure 2 Key Secondary Sources
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 6 Market Sizing and Growth Forecast Approach
Figure 7 The Protein Meal Segment to Dominate the Market in 2021
Figure 8 The Pet Food Segment to Record the Highest CAGR During the Forecast Period
Figure 9 Market Dynamics
Figure 10 Porter’s Five Forces Analysis: Canada BSF Market
Figure 11 SWOT Analysis: Canada BSF Market
Figure 12 Average Selling Prices of BSF Protein Meal in Canada, 2019–2028 (USD/Ton)
Figure 13 Canada Black Soldier Fly Market Size, by Product, 2021 Vs. 2028 (USD Thousand)
Figure 14 Canada Black Soldier Fly Market Size, by Product, 2021 Vs. 2028 (Tons)
Figure 15 Canada Black Soldier Fly Whole Insect Market Size, 2019-2028 (USD Thousand)
Figure 16 Canada Black Soldier Fly Whole Insect Market Size, 2019-2028 (Tons)
Figure 17 Canada Black Soldier Fly Protein Meal Market Size, 2019-2028 (USD Thousand)
Figure 18 Canada Black Soldier Fly Protein Meal Market Size, 2019-2028 (Tons)
Figure 19 Canada Black Soldier Fly Oil Market Size, 2019-2028 (USD Thousand)
Figure 20 Canada Black Soldier Fly Oil Market Size, 2019-2028 (Tons)
Figure 21 Canada Black Soldier Fly Frass (Biofertilizers) Market Size, 2021-2028 (USD Thousand)
Figure 22 Canada Black Soldier Fly Frass (Biofertilizers) Market Size, 2021-2028 (Tons)
Figure 23 Canada Other Black Soldier Fly Products Market Size, 2019-2028 (USD Thousand)
Figure 24 Canada Other Black Soldier Fly Products Market Size, 2019-2028 (Tons)
Figure 25 Canada Black Soldier Fly Market Size, by Application, 2021 Vs. 2028 (USD Thousand)
Figure 26 Canada Black Soldier Fly Market Size for Poultry, 2021-2028 (USD Thousand)
Figure 27 Canada Black Soldier Fly Market Size for Aquaculture, 2021-2028 (USD Thousand)
Figure 28 Canada Black Soldier Fly Market Size for Pet Food, 2021-2028 (USD Thousand)
Figure 29 Canada Black Soldier Fly Market Size for Livestock, 2021-2028 (USD Thousand)
Figure 30 Canada Black Soldier Fly Market Size for Other Applications, 2021-2028 (USD Thousand)
Figure 1 Research Process
Figure 2 Key Secondary Sources
Figure 3 Primary Research Techniques
Figure 4 Key Executives Interviewed
Figure 5 Breakdown of Primary Interviews (Supply-Side & Demand-Side)
Figure 6 Market Sizing and Growth Forecast Approach
Figure 7 The Protein Meal Segment to Dominate the Market in 2021
Figure 8 The Pet Food Segment to Record the Highest CAGR During the Forecast Period
Figure 9 Market Dynamics
Figure 10 Porter’s Five Forces Analysis: Canada BSF Market
Figure 11 SWOT Analysis: Canada BSF Market
Figure 12 Average Selling Prices of BSF Protein Meal in Canada, 2019–2028 (USD/Ton)
Figure 13 Canada Black Soldier Fly Market Size, by Product, 2021 Vs. 2028 (USD Thousand)
Figure 14 Canada Black Soldier Fly Market Size, by Product, 2021 Vs. 2028 (Tons)
Figure 15 Canada Black Soldier Fly Whole Insect Market Size, 2019-2028 (USD Thousand)
Figure 16 Canada Black Soldier Fly Whole Insect Market Size, 2019-2028 (Tons)
Figure 17 Canada Black Soldier Fly Protein Meal Market Size, 2019-2028 (USD Thousand)
Figure 18 Canada Black Soldier Fly Protein Meal Market Size, 2019-2028 (Tons)
Figure 19 Canada Black Soldier Fly Oil Market Size, 2019-2028 (USD Thousand)
Figure 20 Canada Black Soldier Fly Oil Market Size, 2019-2028 (Tons)
Figure 21 Canada Black Soldier Fly Frass (Biofertilizers) Market Size, 2021-2028 (USD Thousand)
Figure 22 Canada Black Soldier Fly Frass (Biofertilizers) Market Size, 2021-2028 (Tons)
Figure 23 Canada Other Black Soldier Fly Products Market Size, 2019-2028 (USD Thousand)
Figure 24 Canada Other Black Soldier Fly Products Market Size, 2019-2028 (Tons)
Figure 25 Canada Black Soldier Fly Market Size, by Application, 2021 Vs. 2028 (USD Thousand)
Figure 26 Canada Black Soldier Fly Market Size for Poultry, 2021-2028 (USD Thousand)
Figure 27 Canada Black Soldier Fly Market Size for Aquaculture, 2021-2028 (USD Thousand)
Figure 28 Canada Black Soldier Fly Market Size for Pet Food, 2021-2028 (USD Thousand)
Figure 29 Canada Black Soldier Fly Market Size for Livestock, 2021-2028 (USD Thousand)
Figure 30 Canada Black Soldier Fly Market Size for Other Applications, 2021-2028 (USD Thousand)
