BioMar sees positive test results from insect meal

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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