Vermicompost Market Size, Share, Growth, and Global Industry Analysis, By Type (Africa Night Crwlers Vermicomposting, Lumbricus Rebellus Vermicomposting, and Others), By Application (Home Gardening, Landscaping, Golf Courses, and Horticultural Industry), Regional Insights, and Forecast To 2031

Updated On: 08 April 2024

VERMICOMPOST MARKET REPORT OVERVIEW

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The global vermicompost market size was USD 85770 million in 2022 and is projected to touch USD 361440.6 million by 2031, exhibiting a CAGR of 15.5% during the forecast period 2023 - 2031. 

Vermicompost (also spelled vermi-compost) is the result of the decomposition process that uses different kinds of worms, typically red wigglers, white worms, and other earthworms, for producing a mixture of bedding materials, decomposing food or vegetable waste, and vermicast. The practice of raising worms for this purpose and vermicomposting is called vermiculture. Vermicast, also known as worm castings, worm humus, worm manure, or worm excrement, is the remains after earthworms have broken down into organic matter. It has been demonstrated that compared to organic materials used for vermicomposting, these excreta have lower levels of pollutants and a higher saturation of nutrients. It contains nutrients that are water-soluble and is the most efficient organic fertilizer. 

With the help of earthworms, biodegradable organic waste with plant origins can be successfully recycled to create compost with high market demand. It is a byproduct of the biodegradation of organic matter, which occurs when earthworms and the microorganisms in their guts interact. High porosity, water-holding ability, and microbial activity characterize vermi-compost. It has phosphates, exchangeable calcium, soluble potassium, and nitrates. It may be said that vermi technology is an economically viable technology that the average person can adopt since most of the solid wastes in India are organic and can be successfully used to make worm-compost. In this context, it is created at the field level using biodegradable organic materials. 

COVID-19 Impact: The Ban on the Transport of Product Retarded Growth

The outbreak of COVID-19 interrupted the growth of every sector. The pandemic outbreak slightly affected the agricultural industry as farming was on hold at the initial stage. But, the rising consumption of the food generated more demand. The farming continued after a while. The agricultural operations continued despite the worldwide lockdown which saved the industry from going through a major setback. However, the supply of the product was affected due to hindered travel and transport. The ban on transportation and supply of the product affected the growth of the market.

LATEST TRENDS

"Rising Need for Plant Root Growth to Propel Product Demand"

Consistently increasing population increases the use of vehicles which surges pollution. This results in rising demand for plants and trees worldwide. The compost encourages the growth and structure of plant roots. The escalating awareness about the chemical fertilizers challenges and the rise in the need for organic products is estimated to gain traction. Moreover, it has an advanced capacity to hold water and an excellent nutrient cycle. These factors are expected to aid vermicompost market growth. Increasing agricultural activities are an additional factor projected to surge growth.

VERMICOMPOST MARKET SEGMENTATION

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• By Type Analysis

By type, the market is segmented into Africa night crawlers vermicomposting, lumbricus rebellus vermicomposting, and others.

• By Application Analysis

Based on application, the market is classified into home gardening, landscaping, golf courses, and the horticultural industry. 

DRIVING FACTORS

"Various Soil Benefits to Propel Growth"

Earthworms act as eco-biological engineers by restoring the soil properties that have been destroyed due to excessive use of pesticides. It restores the nutrients and microbial enrichments to make the soil more fertile. The vermiculture increases the resistance to fungal diseases and influences the nutrient cycle of the soil. The soil fertility is increased due to the use of vermicompost for the long term, and it also reduces the soil's dependency on harmful chemicals. It contributes to waste recycling and enhances the fertility of the soil. These factors are anticipated to foster growth in the market.

"Environmental Awareness to Foster Market Growth"

The rising pollution is increasing the population's awareness of environmental safety. The soil deterioration and ecological degradation is forcing the government to impose strict laws for controlling the degradation of the environment. Imposing the laws increased the demand for organic composts that do not harm the environment. These factors are anticipated to aid growth in the market. Moreover, consumers are rapidly shifting toward eco-friendly products, which is likely to foster growth. Rising awareness of farmers toward the fertility of soil and usage of organic composts is expected to surge the vermicompost market growth.  

RESTRAINING FACTORS

"High Setup Costs to Retard Market Growth"

The setup of eco-friendly compost costs higher than any other normal batch composters or compost piles. It also requires a specific temperature to start the composting process and needs more care than the regular composting methods. The specific quantity of nitrogen and carbon may create difficulty in growth. These factors are likely to challenge the vermicompost market growth. Moreover, the process requires specific pH, salt content, and moisture, which may limit the growth of the market. 

VERMICOMPOST MARKET REGIONAL INSIGHTS

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"North America to Hold Maximum Market Share Due to Rising Environmental Awareness"

North America is anticipated to hold the maximum contribution in vermicompost market share owing to the increasing environmental awareness. The U.S. is expected to be a significant shareholder in regional growth due to the steady adoption of advanced agriculture technologies. 

Asia Pacific is projected to show significant growth in the foreseeable future due to rising agricultural activities in developing countries such as India, China, and Japan. 

Europe is forecasted to show prominent growth due to steady adoption of organic farming techniques in the region.

KEY INDUSTRY PLAYERS

"Key Players to Focus on Acquisitions and Mergers to Gain a Competitive Advantage"

Key companies are engaging in developing robust strategies to gain more credits in the vermicompost market share. The players are developing new products to gain mergers and collaborations in the global market. Moreover, the companies are striving to take over the regional market to grow in the worldwide market in the foreseeable future. The companies are acquiring other companies to gain considerable market growth. Moreover, new strategies are adopted by the major companies to enhance their product portfolio. The launch of new products is expected to strengthen the company’s portfolio. Furthermore, the companies are adopting organic and inorganic strategies to gain consistent growth.

List of Market Players Profiled

• MyNOKE (New Zealand)
• NutriSoil (Australia)
• Davo’s Worm Farms (Australia)
• Earthworm (U.K.)
• Wormpower (U.S.)
• Kahariam Farms (Philippines)
• SAOSIS (India)
• Sri Gayathri Biotec (India)
• Dirt Dynasty (U.S.)
• SLO County Worm Farm (U.S.)
• Agrilife (India)
• Suman Vermi Compost (India)

REPORT COVERAGE

The report is an overview of the market, including the following:

• Key players and their recent development.
• Factors projected to aid market growth.
• The impact of COVID-19 is also represented in the report.
• Regions are anticipated to lead the global market.
• Factors that may limit the growth of the market.
• The latest trends are also included in the report.
• Segmentation of the market on the basis of application and type.

These aspects altogether give a complete overview of the market and help the stakeholders in gaining a better understanding of the market.