Organic Agriculture Fuels Insect Fertilizers Market, Expected to Reach $319.7 Million by 2029

Meticulous Research® has released its latest report predicting that the Insect Fertilizers Market will grow to $319.7 million by 2029, expanding at a compound annual growth rate (CAGR) of 24.3% from 2022 to 2029. This growth is primarily driven by the increasing adoption of organic food products, growing awareness of insects as a resource for waste conversion, and the rising generation of waste from the restaurant, agriculture, and food & beverage industries.

Expanding market opportunities in both emerging and developed regions are expected to present significant growth potential for industry players. Nonetheless, obstacles such as a fragmented regulatory framework and limited awareness, along with the low adoption rate of insect fertilizers, could hinder market progress.

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Key Market Segments and Growth Drivers

The market is categorized by insect type, application, and geographic region, with comprehensive analyses of industry players and market performance at regional and country levels.

Insect Type:
The black soldier flies (BSF) segment is expected to lead the market in 2022, representing the largest share. BSF fertilizers, derived from insect frass and decomposed biomass, are nutrient-dense and promote sustainable farming practices. The growing waste output from restaurant, agricultural, and food & beverage sectors, combined with rising urbanization in developing countries, is accelerating the demand for black soldier fly larvae, which are used to convert waste into organic fertilizers.

Application:
The fruits & vegetables segment is forecasted to grow at the highest CAGR during the study period. Factors such as the increasing global production of fruits and vegetables, the rising consumer preference for organic, chemical-free products, and the growing prevalence of crop diseases are driving this segment's rapid growth. The shift towards more sustainable agricultural practices further fuels demand for insect-based fertilizers in this sector.

Geography:
Europe is projected to be the largest market for insect fertilizers in 2022. This growth is driven by a combination of strong demand for organic fertilizers, a large supply of waste materials from agriculture and food & beverage industries, and the presence of leading manufacturers. Europe’s increasing focus on reducing chemical fertilizer usage also supports the growth of the insect fertilizers market.

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Major Industry Players

The insect fertilizers market features several prominent players that are driving innovation and market expansion. Key players in the 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).

These market leaders are pioneering new methods to convert organic waste into valuable fertilizers, playing a critical role in advancing sustainable agriculture practices globally.

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Article source: https://article-realm.com/article/Business/68036-Organic-Agriculture-Fuels-Insect-Fertilizers-Market-Expected-to-Reach-319-7-Million-by-2029.html