Press release
Insect Fertilizers Market Worth $319.7 Million by 2029
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.
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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. 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.
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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.
Key Players
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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Key questions answered in the report-
Which are the high-growth market segments in terms of insect type, application, and country/region?
What is the historical market for insect fertilizers across the globe?
What are the market forecasts and estimates for the period 2022-2029?
What are the major drivers, restraints, and opportunities in the global insect fertilizers market?
Who are the major players in the global market, and what are their market shares?
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