Amsterdam, NL - July 20, 2020 -
Organic fertilizers are derivatives of mineral ores, animal, and plant residues. They also constitute of beneficial microorganisms. Organic fertilizers or microbial inoculants consist of fungi and live microorganisms that help with plant growth. These fertilizers help the plant by fixing atmospheric nitrogen, solubilizing phosphorus, and stimulating plant growth through the synthesis of growth-promoting substances. Organic fertilizers also foster the growth of earthworms that can be very beneficial for the soil. Moreover, crops produced through the use of organic fertilizers have several health benefits that come with them.
The rising trend for making use of sustainable farming methods has been a key-drivers for this market. The growing market for green technology and the harmful effects of synthetic fertilizers on the soil have been other factors that impact the growth of this market positively. Moreover, the raw material used for producing organic fertilizers is available in nature, therefore, the manufacturing cost for this market is lesser as compared to synthetic fertilizers. The increasing R&D in the sector for agricultural biologics has also increased the market revenue of this segment. The increased industrialisation of organic farming and rising demand for high-quality, residue-free organic crops augment the growth of this market.
Several government regulations that restrict the use of agrochemicals has been another driver for this market. The key restraint faced here is the reliance on inorganic fertilizers for crop cultivation. To create optimal conditions for a plant's growth, both organic as well as synthetic farming methods are coupled in order to derive an optimised solution for agronomic problems.
This report studies the opportunities provided by this market with respect to segmentation of the global market for organic fertilizers. This report titled "Global Organic Fertilizers - Market and Technology Forecast to 2028
” is segmented by Region, and form.
The Regions under study include NA, EU, APAC, RoW. The crop segment is sub-segmented into Cereals & grains, Oilseed & pulses, Fruits and Vegetables, others. The type of sources for organic fertilizers includes- Plant-based, animal-based, and mineral-based. The forms of organic fertilizers available in the market are dry and liquid.
The growing organic foods market majorly governs the market growth of the organic fertilizer market. The global organic fertilizer market is estimated to hold a value of USD 9 billion and is expected to grow to USD 29 Billion by 2028. The market is estimated to expand with a growth rate of 15% approximately during the forecast period.
Increasing environmental concerns have been an essential factor that helps with the growth of the organic fertilizer market. The increasing cost of chemical fertilizers and the use of sustainable farming has been another factor that supports market growth. Several governments are encouraging the use of organic fertilizers that have been further aiding the market growth. Organic fertilizers from animal reside is expected to hold the largest share in the global market, it has a market share of roughly 30% of the global market size. Based on formulation, the dry organic fertilizers segment accounts for more than 50% of the global market revenue owing to the ease of mixing with the soil.
APAC is expected to hold the highest global revenue in the organic fertilizer market, it is also the fastest-growing segment owing to the increasing population and rising disposable income of the consumers. Moreover, a drastic shift from synthetic conventional farming methods to organic crop cultivation has also propelled the market growth of this sector. Additionally, because of the growing awareness about the health benefits of organically produced crops countries like China, India, Australia, and Brazil are hereby expected to experience growth in this sector. Cotton, sugarcane, fruits & vegetables, and cereals are the leading agricultural commodities exported from these countries.
The report “Global Organic Fertilizers - Market and Technology Forecast to 2028
” is segmented based on Region, Crop Type, Source, and form. The study period is 2018- 2028 and the forecast period is 2020-2028.
Reasons to buy:
- New entrants into this field could gain a comprehensive perspective of the market with respect to the key market trends and the shifting global dynamics of this segment.
- Potential players could use this report to study all the drivers, restraints, and challenges in the global market for organic fertilizers and their impact on the changing market scenario.
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- Impacts of COVID-19 and the changing market dynamics have been mentioned in this report, this could help all the market players with developing a post-pandemic strategy to expand the growth of this market.