Black Soldier Fly market poised to make exponential growth

Published: 9 May 2023

Beta Bugs Ltd, an insect innovator based in Midlothian Science Zone, is among those thriving for a better future together with the help of the Black Soldier Fly - and keep the industry informed with Beta Buzz, the company's insect farming publication.

Beta Buzz was originally launched by Beta Bugs Ltd in November 2021, as a result of the rise in interest and demand for the insect farming industry and to keep the industry informed as well as encouraging others to enter the sector.

To help avert the impending climate crisis and ensure the future sustainability of our food systems, insect farming is viewed as a crucial development and an increase in organisations operating in the field is of key importance.

Novel proteins derived from insects are gaining traction among investors and entrepreneurs for their attractive environmental and economic business models.

Unlike traditional livestock, insects require less land, water, and feed to grow. They are also a rich source of essential amino acids, vitamins, and minerals and, in some cases, like aquaculture, they are a more natural ingredient in diets than vegetable counterparts.

Among insect proteins, those derived from Black Soldier Flies (BSFs), scientifically known as Hermetia Illucens, are emerging as one of the most interesting to institutional investors. The concept of insect farming is (theoretically) simple – breed, rear, and harvest insects to process them into end-products for the wider agri/aqua food chain, including feed, pet food, and human nutrition products.

Grabbing the attention of sustainability-minded investors is the circularity of BSF business models. BSF can be fed organic waste from various sources, helping to address a global food waste issue. The UN’s Food and Agriculture Organization (FAO) estimates around USD 400m per year of food, or 14% of global food production, is wasted from harvest to shelves. Consumers waste another 17% of food after retail purchase, according to UNEP’s food waste report.

In a world where 40% of the food, on average, goes to landfills or into other waste streams, BSF provides an attractive solution to the problem. BSF can be fed onsite waste from other food processes, recycling organic waste into high-value end-products used by the same industries to produce other products, minimizing the use of new raw materials. It’s circular economy in action.

BSF has applications in aquaculture, terrestrial protein, pet food, human supplements, biopesticides, and pharmaceuticals. These sectors, which need to reduce unsustainable inputs, have well-established, high-volume demand end markets with attractive margins for top-quality proteins.

Beta Buzz Cover 

Beta Bugs Ltd realised that there was a need for a publication such as Beta Buzz to be able to bring the insect farming industry together and ensure accessibility for those looking to enter this rapidly developing market. The previous issues were greatly received and welcomed by the insect farming and agri-food industry, being hailed as valuable resources for anyone involved or interested in the sector.

Following on from this response, the third issue was created to continue bridging the gap between businesses and customers to streamline the process and ensure a clear route to market for interested parties. Therefore, Beta Buzz #3 maintains its place in the industry by continuing to drive the message further afield, raising awareness of relevant technology and service providers in the insect farming value chain.

It was also important to feature industry perspectives within Beta Buzz #3 from a consumer facing angle from the likes of retail giant Tesco, highlighting how they see insect farming from a feed sustainability angle, which will help to reduce their carbon footprint within the retail supply chain.

As a result of the industry’s efforts to date, insect farming has become increasingly accessible, with multiple turnkey solutions now available, removing the need for spending time in extensive R&D and planning phases. A route to market is set for a new generation of operators and insect farmers to compete in supplying current and future demand for insect protein.

“With the latest report by the IPCC, we now know that we need to move even faster than before if we want to minimize the damage done to our planet. As an industry, we need to make insect protein part of everyone’s everyday life.”

Thomas Farrugia, CEO, Beta Bugs Ltd

Read Beta Buzz #3 here

 

Beta Bugs Ltd is an insect genetics company developing and distributing black soldier fly breeds to the insect farming sector. Founded in 2017 by Thomas Farrugia, the company is based at the Easter Bush Campus, a world-leading agri-food research, work, and study environment, just outside of Edinburgh, where it works on unlocking and disseminating the full genetic potential of insect farming.

For any enquiries on Beta Buzz #3, please contact:

Nicola Gardner,
Creative Marketing & Media Manager,
Beta Bugs Ltd

e: nicola@betabugs.uk

 

 

 

Share

Latest tweets

follow us @MidlothScience

Roslin Innovation Centre

  • The University of Edinburgh
  • Easter Bush Campus
  • Midlothian EH25 9RG

Campus Operating Officer and Interim CEO Roslin Innovation Centre: Val Hughes-White

T: +44 (0)131 651 9000

Email us