Redding, California, June 23, 2022 (GLOBE NEWSWIRE) -- According to a new market 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,' the insect fertilizers market is expected to reach $319.7 million by 2029, at a CAGR of 24.3% from 2022 to 2029.
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The residual frass of insects is considered to be an ideal organic fertilizer. Furthermore, composting the organic fraction of municipal solid waste using insects reduces the time to reach maturity. It produces compost-fertilizer, high in nutrient content (nitrogen, phosphorus, and potassium), low in pathogens (Helminth eggs, Faecal coliforms, E. coli, Salmonella, Vibrio, Campylobacter, and Clostridium), and low in heavy metals, leading to a reasonable output of larvae biomass.
In addition, the utilization of insect fertilizers in farming limits the transformation and accumulation of heavy metals in food crops. Moreover, it increases the soil's organic carbon storage and quality, nutrient availability in the soil, and crop yield. Thus, these advantages of insect frass are expected to increase its demand for use as organic compost in the agriculture industry.
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Chemical fertilizers have been used in agriculture for a long period. Though chemical fertilizers increase crop production, their overuse hardens the soil, decreases fertility, strengthens pesticides, pollutes air and water, and releases greenhouse gases.
Fertilizers are required to increase yield and ensure healthy produce by supplying the right balance of nutrients to the soil. Insect fertilizers have about the same quality as commercial fertilizer products without having the negative aspects of chemical fertilizers. Insect products are used as fertilizers or soil improvers after a sterilization treatment at 70 degrees Celsius for one hour. This treatment is needed to ensure that the fertilizer does not include weeds or pathogens (Source: European Union Regulation). Besides soil improvement and plant growth, insect fertilizers also help plant protection by acting as a bio-pesticide and offering frost-protective seed coatings. Thus, the numerous benefits offered by insect fertilizers increase their demand in the agriculture industry.
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. The segment is also expected to grow at the highest CAGR during the forecast period of 2022 to 2029. The growth of this market is attributed to the factors such as 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.
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Based on application, in 2022, the cereals & grains segment is estimated to account for the largest share of the insect fertilizers market. The large market share of this segment is attributed to the increasing demand for organic cereals from developed and developing economies due to the potential health benefits offered by organic cereals. However, 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. However, Asia-Pacific is expected to grow at the highest CAGR during the forecast period of 2022 to 2029. The high growth of this regional market is attributed to factors such as increased consumer awareness of insect fertilizers as an alternative source to chemical fertilizers, the rise of healthy lifestyles trends due to growing consumers' awareness about health & safety, and the promotion of sustainable farming practices to reduce the hazardous chemical traces in soil & water.
Some of 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).
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Scope of the Report:
Insect Fertilizers Market, by Insect Type
- Black Soldier Flies
- Mealworms
- Crickets
- Buffalo Worms
- Grasshoppers
- Ants
- Silkworms
- Cicadas
- Other Insects
Insect Fertilizers Market, by Application
- Cereals & Grains
- Fruits & Vegetables
- Other Applications
Insect Fertilizers Market, by Geography
- North America
- U.S.
- Canada
- Europe
- Netherlands
- Belgium
- France
- Denmark
- Finland
- Germany
- Rest of Europe (RoE)
- Asia-Pacific (APAC)
- China
- Malaysia
- South Korea
- Vietnam
- Rest of Asia-Pacific (RoAPAC)
- Latin America
- Middle East & Africa
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