Insect Fertilizers Market to Surge, Projected to Hit $319.7 Million by 2029, at a Remarkable CAGR of 24.3%

Posted on 11 February, 2024 by shital thakare

[Redding, California] – The global Insect Fertilizers Market is poised for an unprecedented growth trajectory, expected to reach a valuation of $319.7 million by 2029, with a striking Compound Annual Growth Rate (CAGR) of 24.3% during the forecast period spanning from 2022 to 2029. This market surge is underpinned by several pivotal factors, including the burgeoning organic food industry, heightened awareness regarding the utilization of insects for converting waste into organic fertilizer, and the escalating waste production from the restaurant, agriculture, and food & beverage sectors.

The residual frass of insects is increasingly recognized as an optimal organic fertilizer. Notably, composting the organic fraction of municipal solid waste using insects drastically reduces the time required to achieve maturity. Resulting in compost-fertilizer rich in essential nutrients such as nitrogen, phosphorus, and potassium, it is notably low in pathogens and heavy metals. This advantageous composition yields a substantial output of larvae biomass.

Furthermore, the adoption of insect fertilizers in farming practices plays a pivotal role in curbing the transformation and accumulation of heavy metals in food crops. Additionally, it augments soil organic carbon storage and quality, enhances nutrient availability in the soil, and amplifies crop yield. Consequently, the manifold benefits of insect frass are anticipated to propel its demand for use as organic compost across the agriculture industry.

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While chemical fertilizers have historically dominated agricultural practices, their overuse has led to adverse environmental impacts including soil hardening, decreased fertility, and pollution of air and water, along with the release of greenhouse gases.

In contrast, insect fertilizers offer comparable quality to commercial fertilizer products without the deleterious effects associated with chemical fertilizers. Following sterilization treatment at 70 degrees Celsius for one hour, insect products serve as fertilizers or soil enhancers, devoid of weeds or pathogens, as mandated by European Union Regulation. Beyond soil enrichment and plant growth, insect fertilizers also function as bio-pesticides and provide frost-protective seed coatings, further bolstering their demand within the agriculture sector.

The Insect Fertilizers Market is segmented based on insect type, application, and geography. Black soldier flies, mealworms, crickets, and buffalo worms are among the key insect types, while applications span cereals & grains, fruits & vegetables, and other sectors.

In 2022, the black soldier flies segment is anticipated to lead the market, driven by factors such as escalating waste production and rising urbanization in developing countries. Meanwhile, the cereals & grains segment is expected to dominate the market application-wise, attributed to the surging demand for organic cereals globally.

Regionally, Europe is projected to hold the largest market share in 2022, fueled by a robust demand for organic fertilizer and a substantial supply of waste from agriculture and food sectors. Conversely, Asia-Pacific is forecasted to exhibit the highest CAGR during the forecast period, buoyed by increasing consumer awareness regarding insect fertilizers as a sustainable alternative to chemical fertilizers.

Notable players in the Insect Fertilizers Market landscape include Ÿnsect (SAS), Protix B.V., Enterra Feed Corporation, InnovaFeed, and EnviroFlight, among others.

For a comprehensive understanding of the market, including detailed insights, please visit: https://www.globenewswire.com/en/news-release/2022/06/23/2467861/0/en/Insect-Fertilizers-Market-Worth-319-7-Million-by-2029-Exclusive-Report-by-Meticulous-Research.html

Scope of the Report:

• Insect Fertilizers Market, by Insect Type
• Insect Fertilizers Market, by Application
• Insect Fertilizers Market, by Geography