Benefits associated with organic fertilizers to escalate market growth at 10.6% CAGR during 2019–2027
NEW YORK, UNITED STATES, November 28, 2022 /EINPresswire.com/ — According to The Insight Partners latest market study on “Organic Fertilizers Market Forecast to 2027 – COVID-19 Impact and Global Analysis -by Source (Plant, Animal, Mineral); Crop Type (Cereals and Grains, Oilseed and Pulses, Fruits and Vegetables, Others); Form (Dry, Liquid) and Geography,” the market was valued atUS$ 6,181.99 million in 2018 and is projected to reach US$ 15,168.62 million by 2027; it is expected to grow at a CAGR of 10.6% during 2019–2027. The report highlights key driving factors and prominent market players along with their developments in the market.
Organic fertilizers are produced from natural sources such as animal matter, manure, vegetable matter, and human excreta. It is a vital element that promotes the growth of micro-organisms present in the soil. The nutritional content of the organic fertilizer depends upon its composition. Organic fertilizers are easy to use and are also food safe compared to synthetic fertilizers. Synthetic fertilizers can cause harm to the environment as well as to the living creatures, due to which the companies have developed organic fertilizers to reduce the damage. The increase in organic farming is one of the important factors driving the growth of the organic fertilizers market.
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The growing health awareness among consumers is driving the demand for organic products. As the consumers consider organic products as safe and healthy, there has been a significant increase in the organic farming across the world, which, in turnis propelling the growth of the organic fertilizers market. Moreover, risingnumber of government initiatives and subsidies to reduce environmental pollution is encouraging the farmers to opt for organic farming. Evolving agricultural practices, new technologies, high investments in research & development, and increasing health-consciousness are among the important factors that are anticipated to boost the growth of the organic fertilizers market.
AgroCare Canada, Inc; Biostar Renewables, LLC; Coromandel International Limited; Italpollina S.p.A; Midwestern BioAg; Perfect Blend, LLC; Sustane Natural Fertilizer, Inc; National Fertilizers Limited; Krishak Bharati Cooperative Limited; and The Scotts Miracle-Gro Company are among the well-established players in the global organic fertilizers market.
At present, people are making themselves aware of healthy ways of living. Smarter consumers prefer to eat healthily and spend on healthy foods rather than spending on medical treatments. Constant checks are made on certified organic products and the use of organic fertilizers to reduce the chances of diseases like cancer, brain damage, or infant abnormalities that can be caused due to the use of chemical fertilizers. The crops and foods grown with the application of organic fertilizers are highly nutritious and are fresh and healthy to consume compared to conventional food. The organic crops also contain a high level of minerals, vitamins, and antioxidants.
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Additionally, the e-commerce platforms act as a facilitator in reaching out to the potential customers who are willing to pay for organic products. Expanding mindfulness about the medical advantage of organic food combined with the headway in organic cultivating procedures has also paved the way for the rising demand for organic fertilizers. The chemical composition of chemical fertilizers is strong and remains deposited on the outer layer of the fruits and vegetables that do not get washed away easily with water. They result in working as slow poison and later cause other harmful effects on the body. The consumers being aware of these factorsprefer buying organic fruits and vegetables, which propels the growth of the organic fertilizer market.
The animal segment accounted for the largest share in market in 2018, and the plant fertilizer segment is expected to register the fastest CAGR during 2019–2027. Animals, fish, and birds proffer organic fertilizers that help the plants to grow. Animal-based organic fertilizers also contain nitrogen, phosphorous, and potassium that act as the primary nutrient for the growth of plants.
Based on form, the organic fertilizer marketis segmented into dry and liquid. The dry segment accounted for a larger share of the market in 2018, andthe liquid segment is expected to register the highest CAGR during 2019–2027.Dry organic fertilizers consist of a single material such as kelp or rock phosphate, or they can be a blend of many ingredients. All the organic fertilizers provide a broad array of nutrients;
Based on crop type, the organic fertilizer market has been segmented into cereals and grains, oilseed and pulses, fruits and vegetables, and others. The cereals and grains segment accounted for the largest share in the global organic fertilizer market in 2018, and fruits and vegetablessegment is expected to register the highest CAGR during 2019–2027. Organic fertilizers enhance the nutrient uptake from soil and produce high yields of cereals and grains. Rock phosphate is used in the making of organic phosphate fertilizer.
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Organic Fertilizers Market is expected to reach US$ 15,168.62 million by 2027