By 2031, Organic Fertilizers Market Is Anticipated to Cross USD 18 Billion, With A CAGR Of Over 7% From 2022 To 2031: TMR Study
Organic fertilizers are growing increasingly important for developing sustainable agricultural goods as organic food gains popularity among customers as an appealing and ethical choice. The significant increase of need for organic fertilizers is additionally attributable to their various environmental advantages, including improved soil structure as well as water conservation.
Wilmington, Delaware, United States, July 26, 2023 (GLOBE NEWSWIRE) -- *Transparency Market Research Inc. -* The global market for organic fertilizers was estimated to have acquired a market valuation around US$ 9.9 billion in 2022. The market is likely to garner a steady 7.3% CAGR from 2022 to 2031 and by 2031, the market is likely *to gain US$ 18.6 billion*.The market for organic fertilizers is seeing strong growth, mostly due to increased consumer demand for environmentally friendly fertilizers as well as sustainable farming methods. The use of organic fertilizers is being sparked by consumer demand for healthier food alternatives and a growing awareness of how traditional agricultural practices affect the environment.
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*Global Organic Fertilizers: Key Players *
The market for organic fertilizers is widely fragmented, with several small-scale providers having the majority Share. Leading producers of organic fertilizer are making large investments in thorough research and development, especially to provide environmentally friendly products. A number of businesses are strategically partnering to speed up the development of animal feed along with manure products and extend their business lines in domestic and foreign markets.
The Scotts Miracle-Gro Company, PT. Tridharma Tata Perkasa, Tata Chemicals, Thai Central Chemical Public Company Limited, PT. Jadi Mas, Bio-Flora (Singapore) Pte Ltd., PT. Pupuk Kalimantan Timur and Subsidiaries, Baconco Co., Ltd., Cropmate Fertilizers, and ILSA Group are some of the major players in the market.
*Some developments by the key players in the global market for organic fertilizers are:*
· A major U.S.-based business that specializes in biostimulants and organically derived agricultural products, FBSciences Holdings, Inc., was acquired by the international chemical corporation Sumitomo Chemical in 2023. Sumitomo Chemical's dedication to extending its foothold in the expanding biostimulants industry and advancing its sustainable agriculture solutions is shown in this strategic move. The purchase is anticipated to expand Sumitomo Chemical's product line and fortify the company's position as a leading provider of cutting-edge farming solutions that are environmentally benign.
· The purchase of Ecolan Oy, a Finnish manufacturer of recycled fertilizers, was announced by Yara Suomi Oy in 2021, an international pioneer in crop nutrition solutions. Yara is now a player in the organic fertilizer market, broadening its selection of sustainable agricultural practices. The purchase is in line with Yara's commitment to improving nutrient management techniques for all types of farming, particularly organic farming, by offering cutting-edge solutions as well as digital tools.
· SecuFarm Vermicompost, an environmentally conscious agrochemical, was introduced in 2023 by WRMS, a prominent agritech business. With added humus and vital plant nutrients, this cutting-edge organic fertilizer as well as soil conditioner helps to improve soil structure and promote root growth. SecuFarm Vermicompost improves soil aeration and water retention, encouraging the growth of healthier plants.A significant factor is the rising public consciousness of the health advantages of eating organic food. Customers view organic items as safer and healthier since they don't often contain the dangerous chemical residues present in conventionally farmed food.
Consumers are becoming more and more worried about how conventional agricultural methods affect the environment. In traditional agriculture, the application of synthetic fertilizers leads to soil erosion, water pollution, as well as greenhouse gas emissions. Organic fertilizers, on the other hand, support soil health, increase nutrient cycling, and raise water and air quality. According to a poll by the Organic Trade Association, 82% of consumers who buy organic products list environmental advantages as their top consideration.
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*Key Findings of Market Report*
· In 2022, the dry fertilizers market share was significant for organic fertilizers.
· In 2022, Europe held a substantial market share for organic fertilizers.
· In 2022, North America also had a sizable portion of the worldwide market.*Market Trends for Organic Fertilizers*
· In 2022, the dry fertilizers market share was significant for organic fertilizers. Growing demand for dry organic fertilizers for lawn, as well as garden applications, their longevity, high efficiency in all climates, and ease of accessibility, are some of the main factors that are anticipated to create significant business opportunities for producers of organic fertilizers.*Global Organic Fertilizers Regional Market Outlook*
· China and India, two of the region's most important agricultural nations and the top users of organic fertilizers, account for the majority of the region's demand. In China, there is an increasing demand for organic farming, which is mostly driven by the country's rapidly expanding middle class.
· Europe retained significant organic fertilizers share of the market in 2022, owing to increased awareness regarding healthy food consumption amongst the young population in key nations such as Spain, Germany, and France.
· In 2022, North America also had a sizable portion of the worldwide market. The need for organic fertilizers is anticipated to increase significantly as a result of the pleasant climate and an abundance of land for farming.*Global Organic Fertilizers Market Segmentation *
· *Type*
· Animal-Based
· Animal Manure
· Blood Meal
· Bone Meal
· Fish Emulsion
· Others
· Plant-Based
· Compost
· Cottonseed Meal
· Alfalfa and Soybean meal
· Seaweed
· Others
· Mineral-Based
· Greensand
· Rock Phosphate
· Others
· *Form*
· Solid
· Liquid
· *Crop Type*
· Cereals & Grains
· Oilseed & Pulses
· Fruits & Vegetables
· Landscaping / Gardens
· Others
· *Application*
· Broadcasting
· Foliar Applications
· Placement
· Liquid Fertilization
· Others
*Region*
· North America
· Europe
· Asia Pacific
· Middle East & Africa
· South America*Procure Complete Report (415** Pages PDF with Insights, Charts, Tables, and Figures) **https://www.transparencymarketresearch.com/checkout.php?rep_id=29417<ype=S*
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