Insect Fertilizers Market - Global Forecast to 2029 - bygora

Insect Fertilizers Market - Global Forecast to 2029

by Insect Type (Black Soldier Flies, Mealworms, Crickets, Buffalo Worms, Grasshoppers, Ants, Silkworms, Cicadas), Application (Fruits & Vegetables), and Geography

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Description

The Insect Fertilizers Market is expected to reach $319.7 million by 2029, at a CAGR of 24.3% during the forecast period of 2022 to 2029. The growth of this market is attributed to factors such as the growth in the organic food industry, the growing awareness about the use of insects to convert waste into organic fertilizer, and the increasing production of waste from the restaurant, agriculture, and food & beverage industries.

Furthermore, market expansions in emerging & 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.

Impact of COVID-19 on the Insect Fertilizers Market

The COVID-19 pandemic adversely affected numerous economies worldwide. The implementation of complete lockdowns and quarantines to curb the spread of COVID-19 negatively impacted many industries globally, including the agriculture industry. In the agriculture sector, the fertilizers market registered a significant decline in sales during the first quarter of 2020 due to disrupted logistics and transportation. The fertilizers market registered interruptions in the entire value chain, from raw materials supply to manufacturing, packaging, and distribution.

The impacts of the COVID-19 outbreak on the insect fertilizers market have been noticed since early 2020 in China, one of the world’s largest producers and consumers of organic fertilizers. The shutting down of production plants in China and restrictions on the export and import of fertilizers and raw materials, particularly animal waste to and from China’s restricted areas, negatively affected the supply chain. This scenario impacted the production, sales, and operations of this industry. The pandemic is also expected to adversely affect the insect fertilizers market in many countries globally, including the U.S., India, Australia, Brazil, and the countries in the EU.

The fertilizers industry in Southeast Asia faced numerous challenges due to the COVID-19 pandemic, impacting the fertilizer distribution within and across markets in the Asia-Pacific region. Although lockdowns were imposed in Malaysia, fertilizer production facilities were given clearance to continue operations since they are essential in maintaining the food supply. However, the lockdown created logistic hurdles for suppliers and impacted the distribution of fertilizer products within the country and across the border to Thailand.

Therefore, the complete halting of the transportation & logistics industry and reduced production in some countries due to the global lockdowns adversely affected the insect fertilizers market in terms of volume sales and market revenue in 2020 and 2021.

Increasing Use of BSF Frass in Agricultural Practices Fuels the Growth of the Insect Fertilizers Market

Intensive crop production requires many fertilizer inputs, which are expensive and inaccessible to some farmers, especially in low to middle-income countries. Furthermore, the production of mineral fertilizers is energy-consuming, and their use in farming is increasingly being regarded as unsustainable. Therefore, exploring the black soldier fly as a novel fertilizer offers significant benefits to farmers.

A study published by the Frontiers Organization shows that the use of black soldier fly frass fertilizers increased maize plant height, chlorophyll concentration, and nitrogen and phosphorus uptake in farms.

Municipal solid waste management is a major issue in urban governance due to the effects of solid waste on environmental health. This is especially prevalent in developing countries due to inadequate infrastructure and technical inefficiencies. According to the World Bank Organization, in 2020, about 50% of the world population lived in cities and generated more than 3 million metric tons of waste (including household items, food waste, and packaging) daily. By 2025, this number is expected to double. Thus, BSFL has the potential to convert food waste into high-quality fertilizers. The benefits offered by black soldier fly frass fertilizers in agriculture, and the increasing production of wastes are expected to increase the growth of the BSF frass fertilizers market.

Key Findings in the Insect Fertilizers Market Study

Black Soldier Flies Segment to Grow at the Highest CAGR During Forecast Period

Based on insect type, the insect fertilizers market is segmented into black soldier flies, mealworms, crickets, buffalo worms, grasshoppers, ants, silkworms, cicadas, and other insects. The black soldier fly segment is expected to grow at the highest CAGR during the forecast period of 2022 to 2029. The growth of this segment is attributed to the factors such as 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.

Cereals & Grains Segment to Dominate the Insect Fertilizers Market in 2022

Based on application, the insect fertilizers market is segmented into cereals & grains, fruits & vegetables, and others. In 2022, the cereals & grains segment is estimated to account for the largest share of the insect fertilizers market. The large market share of this segment is attributed to the increasing demand for organic cereals from developed and developing economies due to the potential health benefits offered by organic cereals

Asia-Pacific: Fastest Growing Regional Market

Based on geography, the insect fertilizers market is segmented into five major geographies: North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The market in Asia-Pacific is expected to grow at the highest CAGR during the forecast period of 2022 to 2029. The growth of this regional market is attributed to factors such as increased consumer awareness of insect fertilizers as an alternative source to chemical fertilizers, the rise of healthy lifestyles trends due to growing consumers’ awareness about health & safety, and the promotion of sustainable farming practices to reduce the hazardous chemical traces in soil & water.

Key Players

The key players operating in the insect fertilizers market include 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).

Scope of the Report:

Insect Fertilizers Market, by Insect Type

  • Black Soldier Flies
  • Mealworms
  • Crickets
  • Buffalo Worms
  • Grasshoppers
  • Ants
  • Silkworms
  • Cicadas
  • Other Insects

Insect Fertilizers Market, by Application

  • Cereals & Grains
  • Fruits & Vegetables
  • Other Applications

Insect Fertilizers Market, by Geography

  • North America
    • U.S.
    • Canada
  • Europe
    • Netherlands
    • Belgium
    • France
    • Denmark
    • Finland
    • Germany
    • Rest of Europe (RoE)
  • Asia-Pacific (APAC)
    • China
    • Malaysia
    • South Korea
    • Vietnam
    • Rest of Asia-Pacific (RoAPAC)
  • Latin America
  • Middle East & Africa

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