Research Nester published a report titled “Earthworm Farming Market: Global Demand Analysis & Opportunity Outlook 2030” which delivers detailed overview of the global earthworm farming market in terms of market segmentation by species, end-use, and by region.
Further, for the in-depth analysis, the report encompasses the industry growth indicators, restraints, supply and demand risk, along with detailed discussion on current and future market trends that are associated with the growth of the market.
The global earthworm farming market is estimated to garner a robust CAGR over the forecast period, i.e., 2022–2030. The market is segmented by end-use into vermicompost, farming, fishing bait, fowl feed, and other, out of which the farming segment is projected to attain largest market share during the forecast period, on the back of increasing use of earthworms to fertilize the soil among organic farmers.
The market is estimated to grow on the back of growing trend of organic farming in the developed countries, along with economic feasibility of earthworm farming. Growing demand for vermicompost, as an alternative to chemical fertilizers, is another factor estimated to boost the market growth. Moreover, earthworms are a rich source of protein, which is why they are used extensively as a feed for poultry and other animals. This is also anticipated to boost the market growth.
Regionally, the global earthworm farming market is segmented into five major regions including North America, Europe, Asia Pacific, Latin America and Middle East & Africa region. The market in the North America is estimated to hold the largest market share over the forecast period owing to the mounting share of organic farming in the total farming practices in countries, such as, the United States. The U.N. Food and Agriculture Organization (FAO) stated that, in 2020, 2.8 million farmers practiced organic farming in the U.S. The market in the Europe region is estimated to garner highest CAGR over the forecast period owing to the increasing adoption of organic farming and organic animal husbandry practices. In fact, in the countries of the European Union, more than 0.3 million farmers practiced organic farming in 2019.
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Increasing Adoption of Organic Farming to boost the Market Growth
Organic farming is gaining popularity in developed economies, backed by increasing environmental awareness among people. The rising demand for earthworm for making vermicompost and fertilizing soil, is estimated to boost the growth of the market.
However, lack of scientific knowledge and temperament required to farm earthworms, is expected to operate as key restraint to the growth of global earthworm farming market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the global earthworm farming market which includes company profiling of various local earthworm farming companies, such as, NutriSoil, My Noke, Davo’s Worm Farm, Worm power, Kahariam Farms, and Vermico. Moreover, major fertilizer companies are estimated to enter the market over the forecast period. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global earthworm farming market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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