$3.4 Billion Black Soldier Fly Markets, 2030: Products (Protein Meals, Biofertilizers, Chitin/ Chitosan), & Applications (Animal Feed, Agriculture, Pet Food, Pharmaceutical, Cosmetic, Biofuel)
June 03, 2021 04:03 ET | Source: Research and Markets Research and Markets Dublin, IRELAND
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The Global Black Soldier Fly Market is expected to reach $3.4 billion by 2030, at a CAGR of 34.7% during the forecast period of 2020 to 2030.
The increasing global meat demand, growing aquaculture industry, increasing demand from the animal feed industry for alternative proteins due to rising prices of soymeal, growing government support for the use of insect meal in livestock feed, and growing investment by key players in the BSF industry are the factors driving the black soldier fly market.
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
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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®
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Asian insect protein player raises US$5m for next stage of growth, opens new plant Insect protein producer, Nutrition Technologies, has opened its new industrial-scale factory in Malaysia and has just closed a US$5m fundraising round.
“This is the first large-scale insect protein factory in Southeast Asia, growing over 3 trillion bugs at any one time, to produce sustainable proteins for the animal feed sector. We run an environmentally sustainable zero-waste facility where all our bugs are fed on factory food waste that is diverted from landfills,” said Tom Berry, co-CEO, Nutrition Technologies.
The company, which is headquartered in Singapore but operates out of Malaysia, was founded in 2014 by Berry and Nick Piggott, the other co-CEO of the business.
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LONDON, March 2, 2021 /PRNewswire/ According to a new market research report titled Protein Ingredients Market
by Type (Animal Protein, Plant Protein, Insect Protein, Microbial Protein), Form (Dry, Liquid), and Application (Food & Beverage, Animal Feed, Nutritional Supplements, Pharmaceuticals, Cosmetics) Global Forecast to 2027 , the protein ingredients market is expected to grow at a CAGR of 7.8% from 2020 to 2027 to reach $73.09 billion by 2027.
Protein ingredients play a vital role in healing and repairing the human body. They are one of the building blocks of body tissue and can also serve as a fuel source. As a fuel, proteins provide as much energy density as carbohydrates. They also help in regulating weight, improving physical strength, lowering muscle loss caused by aging, and mitigating the risk of chronic diseases. As a result, protein ingredients are widely used in the production of foods and beverages, animal feed, nutrit