Westford, USA, March 28, 2023 (GLOBE NEWSWIRE) -- North America and Asia Pacific are expected to grow significantly in the Insect Fertilizers market. This growth can be attributed to various factors, such as the increasing demand for organic and sustainable agriculture, the rising global population, and the escalating cost of traditional fertilizers. Technological advancements in insect farming are also contributing to the market's growth.
It is anticipated that the global market for technology in the insect fertilizer market, such as insect farming systems, will reach $2.5 billion by 2026. Furthermore, several technological advancements, such as automated insect farming systems, insect-based bio-conservation technology, microbial inoculants, advanced extraction techniques, and precision agriculture, are expected to continue driving innovation and growth in the market.
According to SkyQuest's latest global research, the organic fertilizers market is experiencing a steady rise and is estimated to reach $16 billion by 2027 with a CAGR of 11.5%. The insect fertilizer market is also following circular economy principles that focus on reducing waste and reusing resources. Some companies in the industry are utilizing food waste and other organic materials as feed for insects, which can then be transformed into fertilizer.
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Browse in-depth TOC on "Insect Fertilizers Market"
- Pages - 242
- Tables - 78
- Figures - 75
Insect fertilizer is an organic and sustainable alternative to conventional fertilizers that are chemically synthesized. It is produced from the excrement of insects, which is rich in nutrients such as nitrogen, phosphorus, and potassium. Insect-based fertilizers have numerous benefits, such as promoting plant growth, improving soil quality, and reducing environmental pollution. They are also a cost-effective and eco-friendly solution for agriculture and horticulture. As a result, insect fertilizer is gaining popularity in the market due to its sustainable and beneficial properties.
Prominent Players in Insect Fertilizers Market
- AgriProtein
- Beta Hatch
- Protix
- Ynsect
- Enterra Feed
- Hexafly
- Enormous Enterprise
- InnovaFeed
- Ÿnsect
- Entomo Farms
- Alltech
- EnviroFlight
- Grubbly Farms
- Flying SpArk
- Bioflytech
- Anterra Energy
- MealFood Europe
- Entofood
- Jimini's
- EntoCube
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Black Soldier Fly type Segment to Drive Higher Sales Because the BSF Flower Produces High-Quality Fertilizer
SkyQuest's recent analysis indicates that the Black Soldier Fly segment is a significant contributor to the rapid growth of the Insect Fertilizers market in 2021 and is expected to continue to do so from 2022 to 2030. This is due to the high-quality fertilizer produced by BSF and their ease of breeding, making them an attractive option for commercial insect farming. According to SkyQuest reports, The global market for Black Soldier Fly is predicted to grow at a CAGR of 32.3% from 2021 to 2028, with a market size of $2.9 billion by 2028. according to SkyQuest reports. Additionally, the Norwegian Agency for Development Cooperation (NORAD) has launched a three-year project focusing on black soldier fly (BSF) in Ghana, Mali, and Niger. The project aims to improve urban sanitation, manage biowaste, and improve the livelihoods of small-scale producers in the region, using black soldier fly technology to process biowaste and create resources for smallholder chicken, fish, and vegetable farming.
According to research analysis, North America is set to emerge as a leading player in the Insect Fertilizers market between 2022 and 2030. SkyQuest's forecast indicates that the region is expected to grow at a CAGR of 22.82% during this period. The growing demand for organic food products in the region primarily fuels the growing adoption of sustainable agriculture practices. Ynsect, a company in this industry, has recently signed an agreement with Ardent Mills, a flour milling company, to build a factory near one of its sites in the Midwest region of the United States. The factory is expected to be completed by the end of 2023.
Agriculture Application Segment to Exhibit Strong Growth due to Demand for Lightweight and Advanced Wheels and Brakes Systems
The Agriculture Application Component segment emerged as the dominant method in the Insect Fertilizers market in 2021 and is expected to retain its lead from 2022 to 2030. According to a report by the Food and Agriculture Organization of the United Nations, global organic agriculture has been growing at approximately 5% per year and reached 71.5 million hectares of certified organic land in 2019. Insect fertilizers mainly facilitate this increase in organic farming as they are considered an eco-friendly and sustainable alternative to traditional fertilizers, as they are made from organic waste and provide nutrients to the soil without causing harm to the environment.
SkyQuest has forecasted that the Asia Pacific region will continue to be a major force in the Insect Fertilizers market and is expected to maintain its leading position by 2030. The region is projected to experience significant growth with a CAGR of 29.47% during the forecast period. This growth is primarily driven by factors such as the increasing population, growing demand for food, and the rise of sustainable agriculture practices in the region. Insectta, a startup based in Singapore, raised USD 4 million in 2021 to expand its insect farming operations. Flying Spark, a Thailand-based company, secured USD 21 million in funding to increase its insect-based protein production. These developments in the region are indicative of its growth potential.
A recent report has conducted a thorough analysis of the major players operating within the Insect Fertilizers market. This comprehensive evaluation has considered several crucial factors, such as collaborations, mergers, innovative business policies, and strategies, providing invaluable insights into the key trends and breakthroughs in the market. Additionally, the report has carefully scrutinized the market share of the top segments and presented a detailed geographic analysis. Finally, the report has highlighted the major players in the industry and their ongoing endeavors to develop innovative solutions that cater to the ever-increasing demand for insect fertilizers.
Key Developments in Insect Fertilizers Market
- Insecticides (India), a prominent crop protection company, has recently introduced two new products in the market. The first product, Shinwa, is an innovative insecticide developed by Nissan Chemical Corporation (NCC) in Japan. The second product, Izuki, is a combination fungicide that was developed through technical collaboration between Insecticides (India) and NCC.
- Ÿnsect, a globally recognized and certified B Corp company that specializes in the production of insect-based ingredients, has recently unveiled a groundbreaking initiative. Known as ŸNFABRE, this represents the first-ever industrial genomic selection program applied to mass insect farming.
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Key Questions Answered in Insect Fertilizers Market Report
- What specific growth drivers are projected to impact the market during the forecast period?
- Can you list the top companies in the market and explain how they have achieved their positions of influence?
- In what ways do regional trends and patterns differ within the global market, and how might these differences shape the market's future growth?
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