EARTHWORM FARMING MARKET ANALYSIS

Earthworm Farming MarketSize and Trends

Market Outlook

• Farmers prefer using composts, produced by earthworms, over synthetically manufactured fertilizers as they don’t cause soil pollution and are eco-friendly solutions for increasing crop yield. Moreover, they also improve the drainage and air intake of the soil, as a result of which soil productivity increases. These factors are expected to fuel the demand for earthworms in the agriculture industry over the next few years.
• Among regions, Asia-Pacific dominates the earthworm farming market and is expected to grow substantially in the upcoming years. Countries in the tropical and sub-tropical belt have hot and humid climate which provides a sustainable environment to earthworms. Furthermore, the agriculture industry in Asia Pacific, which is still one of the predominant sources of income in emerging economies, is facing a challenge in meeting demand for food owing to the rising population. According to India Brand Equity Foundation (IBEF)’s report, in 2018, the estimated food grain production in India was around 285 million tons. This is expected to drive demand for earthworms from the agriculture industry in the region.
• Earthworms can consume nearly any type of organic matter and can feed up to half of their body weight in a day under ideal conditions. The ease of availability of raw material provides a major advantage for new entrants in the industry. A large variety of organic products can be used as worm food such as animal manure, bio-degradable kitchen wastes, food leftovers, spoiled grains, dead plants & leaves, seaweeds and others. Furthermore, low operation cost of earthworm farming is predicted to create lucrative opportunity for market players to expand their presence, especially in emerging economies.
• Earthworm farming market has witnessed a rise in demand for earthworms for the aquaculture industry in the recent years. Earthworms are a rich source of protein and thus provide an economical solution for maintaining fish growth and health. Furthermore, they are also commonly used in recreational fishing activities as bait for fishes. According to the National Survey of Fishing, Hunting, and Wildlife-Associated Recreation, in U.S., 39.6 million U.S. residents went for recreational fishing in 2016, which has fueled demand for earthworms in the North America region.