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Earthworm Farming Market

Segmentation by Species (Eisenia fetida, Eisenia andrei, Eudrilus eugeniae, Perionyx excavatus and Others); by End-Use (Vermicompost, Farming, Fishing Bait, Fowl Feed, and Others) – Global Demand Analysis & Opportunity Outlook 2030

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Report ID: 3158 | Published On: Feb 09, 2023
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Market Segmentation

Our in-depth analysis of the global earthworm farming market includes the following segments:

By Species

  • Eisenia fetida
  • Eisenia andrei
  • Eudrilus eugeniae
  • Perionyx excavatus
  • Others

By End-Use

  • Vermicompost
  • Farming
  • Fishing Bait
  • Fowl Feed
  • Others

Growth Drivers

  • Growing Trend of Organic Farming
  • Economic Feasibility of Earthworm Farming

Challenges

  • Lack of Scientific Knowledge to Farm Earthworms


Global-Earthworm-Farming-Market-Overview
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Global Earthworm Farming Market Regional Synopsis
cscs

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 North America region is estimated to garner largest share over the forecast period on the back of growing adoption of organic farming in the United States. According to the statistics by the U.N. Food and Agriculture Organization (FAO), more than 2.8 million farmers practiced organic farming in the U.S., as of 2020. Moreover, according to the US Department of Agriculture (USDA), 4% of the total food produced is organic in the U.S.

The market in the Europe region is estimated to witness highest CAGR over the forecast period, owing to the increasing practice of organic farming and poultry farming, in countries, such as, Italy, France, UK, and Germany. In 2019, more than 0.3 million farmers were practicing organic farming in the European Union.

Global-Earthworm-Farming-Market-Share

The global earthworm farming market is further classified on the basis of region as follows:

  • North America (U.S. & Canada) Market size, Y-O-Y growth & Opportunity Analysis
  • Latin America (Brazil, Mexico, Argentina, Rest of Latin America) Market size, Y-O-Y growth & Opportunity Analysis
  • Europe (U.K., Germany, France, Italy, Spain, Hungary, Belgium, Netherlands & Luxembourg, NORDIC, Poland, Turkey, Russia, Rest of Europe) Market size, Y-O-Y growth & Opportunity Analysis
  • Asia-Pacific (China, India, Japan, South Korea, Indonesia, Malaysia, Australia, New Zealand, Rest of Asia-Pacific) Market size, Y-O-Y growth & Opportunity Analysis.
  • Middle East and Africa (Israel, GCC (Saudi Arabia, UAE, Bahrain, Kuwait, Qatar, Oman), North Africa, South Africa, Rest of Middle East and Africa) Market size, Y-O-Y growth & Opportunity Analysis


Global-Earthworm-Farming-Market-Share
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Top Featured Companies Dominating the Market

    Various local level companies in the United States, New Zealand, and United Kingdom, are producing vermi beds and compost to organic farmers. Companies, such as, NutriSoil, My Noke, Davo’s Worm Farm, Worm power, Kahariam Farms, and Vermico, provide vermicompost, and earthworms to end-users. The market has enormous opportunities for new market players to invest in the market.

     


In The News

  • July, 2019: MyNoke announced that its vermicast products improve the growth and yield of strawberries, and is highly used by farmers.
  • February, 2020: Kaharium Farms announced the breeding of black soldier flies for organic farming, after the success of earthworm farming.  

Global Economic Impact

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Despite Inflation & Fearing Recession, Businesses Across the Globe Expected to Do Better in 2023:

In 2023, market players might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain.
Controlling Inflation has become the first priority for global economies from last quarter of 2022 and to be followed in 2023. With skewed economic situations, rise in interest rate by governments to control spending and inflation, spiked oil and gas prices, high inflation, geo-political issues including U.S. & China trade war, Russia-Ukraine conflict to intensify the global economic issues.
The interest rates in the U.S. may be less sensitive in 2023 as compared to 2022; sigh of relief for businesses. Positive business sentiments, healthy business balance sheets, growth in construction spending (private construction value in 2022 stood at $1,429.2 billion, 11.7 percent (±1.0 percent) above the $1,279.5 billion spent in 2021, Residential construction in 2022 was $899.1 billion, up by 13.3 percent (±2.1 percent) from $793.7 billion in 2021, non-residential construction touched $530.1 billion, 9.1 percent (±1.0 percent) above the $485.8 billion in 2021.) showcases minimal impact of recession in the country.
Similarly, spiked spending in the European and major Asia economics including, India, China & Japan to showcase less impact on the global demand.

Key Questions Answered in the Report

1) What are the major factors driving the growth of the earthworm farming market?

Ans: Growing adoption of organic farming and vermicompost are the major factors driving the market growth.

2) What would be the CAGR of earthworm farming market over the forecast period?

Ans: The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2022-2030.

3) What are the challenges affecting the earthworm farming market growth?

Ans: Lack of proper scientific knowledge to breed earthworms is one of the factors estimated to hamper the market growth.

4) Which region will provide more business opportunities for growth of earthworm farming market in future?

Ans: The market in North America is estimated to garner the largest market share owing to the large number of farmers adopting organic farming.

5) Who are the major players dominating the earthworm farming market?

Ans: The market is anticipated to attain a robust CAGR over the forecast period, i.e., 2022-2030.

6) How are the company profiles selected?

Ans: The company profiles are selected based on the revenues generated from the product segment, geographical presence of the company which determine the revenue generating capacity as well as the new products being launched into the market by the company.

7) What are the segments in the earthworm farming market?

Ans: The market is segmented by species, end-use, and by region.

8) Which sub-segment captures the largest market size in the end-use segment in the market?

Ans: The farming segment is anticipated to hold largest market over the forecast period on the back of increasing trend of organic farming, especially in developed nations.

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