Global Vermicompost Market Explore Growth till 2023 by Global Top Players - SAOSIS, SLO County Worm Farm, Sri Gayathri Biotec, Suman Vermi Compost, and Wormpower
The vermicompost is the product of the composting process that uses several species of worms, usually red worms, white grubs and other earthworms, the earthworm humus or worm manure, which is the end product of the decomposition of organic matter by an earthworm to create a heterogeneous mixture of plant residues. Vermicompost, or vermiculture, most often uses two species of worms. Red wigglers (Eisenia fetida) or Eudrilus eugeniae are rarely present in the soil and adapt to the particular conditions of decaying vegetation, compost and manure piles.
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Global Vermicompost Market Drivers and Restraints:
There are several factors that support the market growth such as increasing interest in organic farming and demand for the vermicompost. It has been observed that number of people who prefer organic food instead of fast food is gradually increasing all over the globe. This is also supporting the growth of the market. Also, advantages of vermicompost over other chemical substance are being the attractive factors that encourages the farmers to adapt organic farming. In addition, there have been positive trends of the vermicompost market statistics all over the globe. Also, major players and their tie-ups with other players have been helping for the growth of the market. Growing disposable and per capita incomes of the developing nations are also being indirect factors that drives the global market in forecasted years.
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Global Vermicompost Market is geographically segmented into regions such as Europe, North America, Latin America, Asia Pacific, and Middle East and Africa. The vermicompost industry has been highly fragmented, with manufacturers mainly in India and Southeast Asia. Among them, the value of Indian production represented less than 9.50% of the total value of the global vermicompost in 2015. MyNOKE is the world's leading manufacturer in the global vermicompost market with a market share of 8.79% in 2015. In general, Vermicompost performance is positive, despite a difficult economic environment.
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Key Players of the Global Vermicompost Market:
Agrilife, Davo’s Worm Farms, Dirt Dynasty, Earthworm, Jialiming, Kahariam Farms, MyNOKE, NutriSoil, SAOSIS, SLO County Worm Farm, Sri Gayathri Biotec, Suman Vermi Compost, and Wormpower are the major players in the market.
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