Meticulous Research® _ leading global market research company published a research report titled, ‘Insect Fertilizers Market by Insect Type (Black Soldier Flies, Mealworms, Crickets, Buffalo Worms, Grasshoppers, Ants, Silkworms, Cicadas) Application (Fruits & Vegetables), and Geography - Global Forecast to 2029.’
According to this latest publication from Meticulous Research®, the insect fertilizers market is expected to reach $319.7 million by 2029, at a CAGR of 24.3% from 2022 to 2029. The growth of this market is attributed to factors such as the growth in the organic food industry, the growing awareness about the use of insects to convert waste into organic fertilizer, and the increasing production of waste from the restaurant, agriculture, and food & beverage industries.
In addition, market expansions in emerging and developed companies are expected to provide lucrative opportunities for players operating in this market. However, a non-standardized regulatory framework across the globe and lack of awareness & low adoption rate of insect fertilizers are expected to hinder the growth of this market to a notable extent.
The insect fertilizers market is segmented based on insect type (black soldier flies, mealworms, crickets, buffalo worms, grasshoppers, ants, silkworms, cicadas, and other insects), application (cereals & grains, fruits & vegetables, and other applications), and geography. The study also evaluates industry competitors and analyzes the market at the regional and country levels.
Based on insect type, in 2022, the black soldier flies segment is expected to account for the largest share of the insect fertilizers market. BSF fertilizer is a microbially activated organic fertilizer made from insect frass and decomposed organic biomass. It is a nutrient-rich fertilizer for organic farming and horticulture, promoting plant growth. The increasing production of waste from restaurants, agriculture, and food & beverage industries; rising urbanization in developing countries; and growing awareness about the use of black soldier fly larvae to convert waste into organic fertilizer are some of the major factors driving the growth of the BSF fertilizers market.
Based on application, the fruits & vegetable segment is expected to grow at the highest CAGR during the forecast period. The rapid growth of this segment is driven by the increasing global production of fruits & vegetables, the rising demand for chemical-free organic fruits & vegetables, and the increasing number of diseases affecting fruit & vegetable crops.
Based on geography, in 2022, Europe is expected to account for the largest share of the insect fertilizers market. The market growth in Europe is mainly attributed to the high demand for organic fertilizer, the large supply of waste, including pre-consumer food waste from agriculture and food & beverage sectors, the presence of key insect fertilizer manufacturers, and the increasing demand for chemical fertilizers alternatives.
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The key players operating in the insect fertilizers market are Ÿnsect (SAS) (France), Protix B.V. (Netherlands), Enterra Feed Corporation (Canada), InnovaFeed (France), EnviroFlight, LLC (U.S.), Nutrition Technologies Group (Singapore), Entomo Farms (Canada), BioflyTech (Spain), nextProtein (France), Hexafly (Ireland), and Protenga Pte. Ltd. (Singapore).
Key questions answered in the report-
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