BioMar sees positive test results from insect meal (Salmon Business)
- Salmon feed provider, BioMar, has concluded its tests around insect protein used for aquafeed and has are now looking to adopt it into their offerings.
- Although they indicated there will be considerable cost, they aim to fortify a strong market position as an early mover in the industry.
- The company press release can be found here Insect meal trials successful (Biomar).
Analysis & Comments
- The global aquatic feed market totalled some 40m tonnes in 2017 (latest data available).
- The biggest market share is for Carp (c. 12m tonnes) with high value products such as Salmon being c. 4m tonnes.
- Analysts estimate thatprotein makes up around 15-20% of the feed total, so c. 6-8m tonnes. One main source of this is fish meal, so catching fish to feed fish.
- The protein percentage in typical aquatic feed is down materially from levels in the early 1990’s (then c. 45% protein), driven by cost & the availability of fish meal.
- Biomar is one of a number of companies (mostly private) that are exploring the use of insects (black soldier flies, mealworms & others) as an alternative protein source.
- The attractiveness of this market at least partly relates to its ability to use waste material as a food stock for the insects, improving recycling
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