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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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Inflation And Looming Recession to Haunt Businesses:

In 2022 & 2023, market players expected to sail in rough waters; might incur losses due to huge gap in currency translation followed by contracting revenues, shrinking profit margins & cost pressure on logistics and supply chain. Further, U.S. economy is expected to grow merely by 3% in 2022.

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Purchasing power in the couPurchasing power in the country is expected to fell nearly by 2.5%. On the other hand, European countries to see the worst coming in the form of energy crisis especially in upcoming winters!! Right after COVID-19, inflation has started gripping the economies across the globe. Higher than anticipated inflation, especially in western world had raised concerns for national banks and financial institutions to control the economic loss and safeguard the interest of the businesses. Increased interest rates, strong USD inflated oil prices, looming prices for gas and energy resources due to Ukraine-Russia conflict, China economic slowdown (~4% in 2022) disrupting the production and global supply chain and other factors would impact each industry negatively.                                                         Request Insights

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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 Earthworm Farming Market Highlights over 2022-2030

The global earthworm farming market is estimated to garner a robust CAGR over the forecast period, i.e., 2022–2030. The growth of the market can be attributed to the various uses of earthworms, such as, organic farming, making compost, and as a feed for poultry and other animals and birds. The benefits provided by earthworms were discovered in the recent past, and earthworm farming has witnessed tremendous growth ever since. Earthworms can convert organic waste into compost, which acts as a highly advantageous organic fertilizer. Moreover, they aerate the soil by making it porous, and their castings balance the ph of the soil, which is why earthworms are used in farming. Furthermore, they are a rich source of protein, and are used as a feed for chicken, ducks, and other animals. These uses of earthworms are anticipated to drive the market growth. In addition to this, earthworm farming does not require large investments, and is economically feasible, which is expected to further boost the market growth.

Global-Earthworm-Farming-Market-Overview

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The global earthworm farming market is segmented by species into Eisenia fetida, Eisenia andrei, Eudrilus eugeniae, Perionyx excavatus and others, out of which, the Perionyx excavatus segment is anticipated to hold the largest share in the market during the forecast period as this species is most commercially produced species. Also known as composting worms, this species produces maximum casting, in the least time, making it most commercially viable. On the basis of end-use, the market is segmented into vermicompost, farming, fishing bait, fowl feed, and others, out of which the farming segment is estimated to garner the largest revenue during the forecast period, owing to the increasing trend of organic farming, where earthworms are replacing nitrogenous chemical fertilizers. 

Global Earthworm Farming Market Regional Synopsis

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

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

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.

 

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