Insect Fertilizers Market Set to Soar, Projected to Reach $319.7 Million by 2029

[Redding, California] - The Insect Fertilizers Market is poised for exponential growth, anticipated to reach $319.7 million by 2029, boasting a robust Compound Annual Growth Rate (CAGR) of 24.3% during the forecast period from 2022 to 2029. This remarkable surge is attributed to several factors, including the burgeoning organic food industry, heightened awareness regarding the utilization of insects to convert waste into organic fertilizers, and the escalating waste production from the restaurant, agriculture, and food & beverage sectors.

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Insects' residual frass is hailed as an optimal organic fertilizer. Moreover, composting the organic fraction of municipal solid waste using insects expedites the time to reach maturity, yielding compost-fertilizer rich in nutrients (nitrogen, phosphorus, and potassium), while being low in pathogens and heavy metals. These qualities not only enhance larval biomass output but also make the compost-fertilizer an ideal choice for agricultural applications.

Furthermore, the adoption of insect fertilizers in farming curtails the transformation and accumulation of heavy metals in food crops, enhances soil organic carbon storage and quality, boosts nutrient availability in the soil, and augments crop yield. Consequently, the manifold advantages of insect frass are projected to drive its demand for organic compost usage in the agriculture industry.

While chemical fertilizers have long been utilized in agriculture, their overuse poses detrimental effects such as soil hardening, decreased fertility, escalated pesticide resistance, and environmental pollution. In contrast, insect fertilizers offer comparable quality to commercial fertilizer products sans the adverse impacts of chemical fertilizers. Sterilization treatment at 70 degrees Celsius for one hour ensures that the fertilizer remains free from weeds or pathogens, making it suitable for soil improvement, plant growth enhancement, and bio-pesticidal properties, thus fostering plant protection and offering frost-protective seed coatings. Hence, the myriad benefits associated with insect fertilizers propel their demand in the agriculture industry.

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The insect fertilizers market is segmented by 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 report also includes a comprehensive evaluation of industry competitors and analyzes the market at regional and country levels.

In terms of insect type, the black soldier flies segment is slated to dominate the market in 2022 and is anticipated to exhibit the highest CAGR during the forecast period. This growth is fueled by increasing waste production from various sectors, rising urbanization, and growing awareness regarding the conversion of waste into organic fertilizer using black soldier fly larvae.

Based on application, the cereals & grains segment is expected to command the largest share of the insect fertilizers market in 2022. Conversely, the fruits & vegetable segment is projected to witness the highest CAGR during the forecast period, propelled by the escalating global production of fruits & vegetables and the rising demand for chemical-free organic produce.

Geographically, Europe is anticipated to lead the insect fertilizers market in 2022, driven by high demand for organic fertilizers, abundant waste supply, presence of key manufacturers, and increasing preference for chemical fertilizer alternatives. However, Asia-Pacific is poised to exhibit the highest CAGR during the forecast period, attributed to heightened consumer awareness, promotion of sustainable farming practices, and the rise of healthy lifestyle trends.

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Key players in the insect fertilizers market include Ÿnsect (SAS), Protix B.V., Enterra Feed Corporation, InnovaFeed, EnviroFlight, LLC, Nutrition Technologies Group, Entomo Farms, BioflyTech, nextProtein, Hexafly, and Protenga Pte. Ltd.

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This release was published on openPR.