Organic Fertilizers Market To Make Huge Impact In Near Future Basic Influencing Factors Driving The Industry 2021–2027
Fertilizers are chemical or natural substance which is added to the soil or land so as to increase fertility. Organic fertilizers are fertilizers extracted from animal manure, plant extracts as well as minerals and vegetable matter. Since organic fertilizers are derived from natural substances, therefore, damage to the environment is less of a concern. Organic fertilizers are rich in growth hormones and micro nutrients as well as help to reduce the risk of diseases in humans, as they find their way to food as well. Due to depletion of soil quality, use of fertilizers is being propelled to help farmers to increase crop production, as well as the surge in crop acreage and requirement to increase crop production is encouraging farmers to use organic fertilizers. Organic fertilizers are selected according to the requirement of the nutrients by the crop. They have gained status globally, as they help in increasing the quantity as well as improve the quality produced.
The global organic fertilizers market is growing due to increasing population as well as their increasing willingness to pay for organic foods. Farmers’ preference towards organic farming due to favorable pricing of the products has helped to increase the area under cultivation as well as growing agriculture land area for organic cultivation, has led to the increasing demand for organic fertilizers. In addition to the increasing population, the growing demand for food, rise in the crop production, increasing soil efficiency, growing economy, increasing demand for bio-fuels and high quality yield are expected to drive the organic fertilizers market. Increased awareness about the organic fertilizers due to government policies and rules towards the growth of organic fertilizers has raised the bar for quality, which, in turn, increase the market share of organic fertilizers globally. Major market dispersion is leading to the introduction of new products based out of the organic fertilizers and their retail across various regions. The market players are responding to these new opportunities by expanding their service offerings/product lines, which has fuelled up the share of organic fertilizers in the global market. High nutritional benefits obtained from organic fertilizers are also supporting the sale of organic fertilizers globally. Additionally, the augmentation of the product development together with research advancements are other significant reasons for the increasing growth of the organic fertilizers market during the forecast period 2017-2023.
The global organic fertilizers market is segmented by source, crop, certifications, form, and region.
The global organic fertilizers market is regionally segmented into North America, Europe, Asia Pacific, and Rest of the World (RoW). Europe region accounts for major market share followed by Asia Pacific for the organic fertilizers market. Ample availability of land for farming under organic cultivations as well as consumer willingness to pay for the organic foods, will drive the growth of the market in the European region during the forecast period. In Asia Pacific, strong government policies that contribute to the growth of organic fertilizers as well as large agricultural land area, will drive the growth of this market in this region. However, in European region, significant growth is expected in Germany, France and Italy due to increasing health and environmental concerns, over the forecast period 2017-2023.
Some of the key players in the global Organic fertilizers market are:
· Tata Chemicals Ltd. (India)
· Midwestern BioAg (U.S.)
· Coromandel International Limited (India)
· Agrocare Canada (Canada)
· Italpollina S.p.A. (Italy)
· The Scotts Miracle-Gro Company (U.S.)
· Suståne Natural Fertilizer, Inc. (U.S.)
The demand for organic fertilizers has pushed manufacturers to innovate and develop new product lines, which provide better quality and offers various health benefits.
Downstream Market Analysis:
Globalization and urbanization are key factors for the growth of this market. Furthermore, the admiration of organic fertilizers and its involvement of nutritional attributes as well as extra micronutrients are encouraging the growth of the liquid fertilizers market. The consumer’s willingness to pay for organic foods as well government’s policies and rules towards the organic fertilizers is expected to play a significant role in the growth of this market during the forecast period. Additionally, the augmentation of the product development together with research advancements are other significant reasons for the increasing growth of the organic fertilizers market during the forecast period 2017-2023.
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