According to Future Market Insights’ most recent market study, the global market for Organic fertilizers is expected to reach US$ 9,248.6 Mn in 2022 and grow at a CAGR of 6.3% between 2022 and 2032.
The global organic fertilizer market is projected to reach a value of US$ 17037.6 Mn in 2032, with sales growing at a positive CAGR of 6.3% from 2022 to 2032. Predicted to reach an estimated US$ 9248.6 Mn in 2022, the target market is likely driven by escalating food needs all over the world which in turn pushes the demand for a boost in agricultural production.
In addition, a heightened awareness of the adverse effects of chemical products and the positive impact of organic fertilizers also aids the growth of the organic fertilizers market during the forecast period. Owing to the immense population growth taking place across the globe, the demand for food has also escalated.
As a result, greater agricultural production is necessary to meet the growing demand for food. Though chemical fertilizers have been used as a standard practice to bolster agricultural output for a long time, the adverse effect of doing so has led to a rising demand for an environment-friendly substitute. The extensive use of agrochemicals is being reconsidered owing to its negative effects on soil quality, plant physiology, animals, and people.
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Chemical fertilizers often lead to land damage and contamination of the water (soil erosion). Their large-scale usage has a harmful impact on the ecosystem as fertilizer wastes can contaminate the soil, surface, or groundwater, or can be released into the atmosphere through vitalization. Hence, a growing awareness of these adverse effects of chemical fertilizers coupled with heightened demand for food encourages the market growth of organic fertilizers.
Organic fertilizers are less damaging to life due to the fact that they decompose quickly without influencing the surface or groundwater. These fertilizers enhance oil structure, have a longer shelf life, and improve the soil’s capability to retain nutrients and water. They are increasingly preferred over other kinds of fertilizers for creating agricultural output free of harmful residues.
Organic fertilizers are non-toxic, slow-releasing fertilizers that do not leave any residues in the food. Thus, considerations like a rising desire to foster greater agricultural output, avoid harmful consequences of chemical inputs, and a wish to capitalize on the positive effects of organic fertilizers are fueling the demand for organic fertilizers.
“Growing demand for food coupled with rising concerns for the environment will stimulate the global growth of the organic fertilizer market over the forecast period,” says an FMI analyst.
Key Takeaways:
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Competitive Landscape
Hello Nature International Srl, Karnataka Agro Chemicals, Italpollina SpA., Coromandel International Limited, Midwestern BioAg, Perfect Blend, LLC, California Organic Fertilizers, Inc., Biolchim S.p.A., Queensland Organics, FertPro Manufacturing Pty Ltd., National Fertilizers Limited, Fertoz Ltd., SPIC Ltd, Scotts Miracle-Gro Company, Suståne Natural Fertilizer, Inc., and Fertikal NV among others are some of the major players in the organic fertilizer market profiled in the full version of the report.
Organic Fertilizer Market Segmentation
By Source, Organic Fertilizer Market is segmented as:
By Crop Type, Organic Fertilizer Market is segmented as:
By Form, Organic Fertilizer Market is segmented as:
By Region, Organic Fertilizer Market is segmented as:
Future Market Insights (ESOMAR certified market research organization and a member of Greater New York Chamber of Commerce) provides in-depth insights into governing factors elevating the demand in the market.
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Jun 17, 2023
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