Global Earthworm Farming Market, By Type of Species (Eisenia Foetida, Perionyx Excavates, Lumbricus Terrestris, Eisenia Hortensis, Aporrectodea Calignosa and EudrilusEugeniae), Application (Fishing Bait, Agriculture, Animal and Fish Feed, Fowl Feed, Vermicomposting and Others),Country (U.S., Canada, Mexico, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific, Brazil, Argentina, Chile, Rest of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa) Industry Trends and Forecast to 2028.
Market Analysis and Insights of Earthworm Farming Market
Data Bridge Market Research analyses that the earthworm farming market will project a compound annual growth rate (CAGR) of 13.70% during the forecast period of 2021-2028. Increased focus of the farmers towards adopting agricultural practices that multiply the productivity, surge in initiatives taken up by the government to promote organic farming and economic feasibility of earthworm farming are the major factors attributable to the growth of earthworm farming market. This means that the earthworm farming market value, which was USD 0.1 billion in 2020 will climb up to USD 0.27 billion by the year 2028.
Earthworms are the tubular shaped worms that are commonly present in the soil. From the name itself, it is clear that earthworm farming is farming or agricultural practice wherein earthworms play a crucial role. Earthworms are the organisms that can break the wastes into composts which in turn can be used as manures for the crops. In other words, earthworms are the organisms that feed on the decay and break them down into simpler components in the form of castings. These castings in turn can be used for a wide variety of agricultural operations. Earthworm farming is not a modern agricultural practice however; it is still being relied upon today because of its feasibility. Earthworms are harvested for a wide variety of agricultural applications.
Growing preference for organic farming over conventional farming will emerge as the major factor fostering the growth of earthworm farming market. Growing awareness about the ill-effects of synthetically produced fertilizers on the soil and environment and increasing focus towards the adoption of practices that improve the overall crop productivity are other factors fostering the growth of earthworm farming market. Growth in the expenditure for research and development proficiencies coupled growing awareness about the benefits of earthworm farming such as it improves the drainage and air intake of the soil and so on will further create lucrative and remunerative growth opportunities for the earthworm farming market.
However, lack of scientific knowledge to the small and marginal farmers in the backward economies will pose a major challenge to the growth of earthworm farming market. Also, noticeable odour as a result of this practice will further slowdown the earthworm farming market growth rate. Huge chunk of time required for the whole process will further derail the earthworm farming market growth rate.
This earthworm farming market report provides details of new recent developments, trade regulations, import export analysis, production analysis, value chain optimization, market share, impact of domestic and localised market players, analyses opportunities in terms of emerging revenue pockets, changes in market regulations, strategic market growth analysis, market size, category market growths, application niches and dominance, product approvals, product launches, geographic expansions, technological innovations in the market. To gain more info on earthworm farming market contact Data Bridge Market Research for an Analyst Brief, our team will help you take an informed market decision to achieve market growth.
Global Earthworm Farming Market Scope and Market Size
The global earthworm farming market is segmented on the basis of type of species and application. The growth among segments helps you analyse niche pockets of growth and strategies to approach the market and determine your core application areas and the difference in your target markets.
- Based on the type of species, the earthworm farming market is segmented into eiseniafoetida, perionyx excavates, lumbricusterrestris, eiseniahortensis, aporrectodeacalignosa and eudriluseugeniae.
- On the basis of application, the earthworm farming market is segmented into fishing bait, agriculture, animal and fish feed, fowl feed, vermicomposting and others.
Earthworm Farming Market Country Level Analysis
The global earthworm farming market is analyses and market size, volume information is provided by country by type of species and application as referenced above.
The countries covered in the earthworm farming market report are U.S., Canada, Mexico in North America, Germany, Poland, Ireland, Italy, U.K., France, Spain, Netherlands, Belgium, Switzerland, Turkey, Russia, Rest of Europe in Europe, Japan, China, India, South Korea, New Zealand, Vietnam, Australia, Singapore, Malaysia, Thailand, Indonesia, Philippines, Rest of Asia-Pacific (APAC) in Asia-Pacific (APAC), Brazil, Argentina, Chile, Rest of South America as a part of South America, UAE, Saudi Arabia, Egypt, Kuwait, South Africa, Rest of Middle East and Africa(MEA) as a part of Middle East and Africa(MEA).
Asia-Pacific region dominates the earthworm farming market and will continue to flourish its trend of dominance during the forecast period. This is because of the increased adoption of organic farming practices. Increasing initiatives by the government to promote organic farming will further bolster the market growth rate.
The country section of the earthworm farming market report also provides individual market impacting factors and changes in regulation in the market domestically that impacts the current and future trends of the market. Data points such as consumption volumes, production sites and volumes, import export analysis, price trend analysis, cost of raw materials, down-stream and upstream value chain analysis are some of the major pointers used to forecast the market scenario for individual countries. Also, presence and availability of global brands and their challenges faced due to large or scarce competition from local and domestic brands, impact of domestic tariffs and trade routes are considered while providing forecast analysis of the country data.
Competitive Landscape and Earthworm Farming Market Share Analysis
The earthworm farming market competitive landscape provides details by competitor. Details included are company overview, company financials, revenue generated, market potential, investment in research and development, new market initiatives, global presence, production sites and facilities, production capacities, company strengths and weaknesses, product launch, product width and breadth, application dominance. The above data points provided are only related to the companies’ focus related to earthworm farming market.
The major players covered in the earthworm farming market report are Guangxi Xintianyu Technology Co., Ltd., Vermi Co, Organic Sunrise Natural, My NOKE, NutriSoil, Kahariam Farms., Davo's Worm Farms, and Worm power among other domestic and global players. Market share data is available for Global, North America, Europe, Asia Pacific (APAC), Middle East and Africa (MEA) and South America separately. DBMR analysts understand competitive strengths and provide competitive analysis for each competitor separately.
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