Organic Fertilizers Industry Growth
Organic fertilizers are natural materials derived from plant, animal, or mineral sources that enhance soil fertility and promote sustainable plant growth.
WILMINGTON, DELAWARE, UNITED STATES, June 25, 2024 /
EINPresswire.com/ -- The global
organic fertilizers market generated $9.6 billion in 2022 and is projected to reach $17.5 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032. The rise in demand for organic farming practices, driven by increasing environmental awareness and sustainable agriculture trends, fuels this growth.
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Organic Fertilizers: Definition and Benefits
Organic fertilizers are natural materials derived from plant, animal, or mineral sources that enhance soil fertility and promote sustainable plant growth. These fertilizers release nutrients slowly, improve soil structure, increase microbial activity, and minimize environmental pollution compared to synthetic alternatives. Examples include compost, manure, bone meal, fish emulsion, and plant-based materials like seaweed.
Market Dynamics
Drivers:
- Agricultural Expansion: Farmers are focusing on increasing productivity, leading to higher adoption of organic fertilizers.
- Economic Contribution: Agriculture remains a key economic driver, further propelling the demand for efficient and sustainable fertilizers.
Restraints:
- Climatic Challenges: Adverse weather conditions can impact farming activities and limit market growth.
Opportunities:
- Growing Demand: Rising preference for organic produce creates significant growth potential for organic fertilizers.
Market Segmentation
Source:
- Animal: Dominates the market, contributing nearly half of the revenue in 2022, due to its effectiveness in organic farming.
- Mineral: Expected to grow fastest, with a CAGR of 6.5%, driven by naturally sourced nutrient content.
Crop Type:
- Cereals & Grains: Leading segment with nearly 60% market share in 2022, driven by high consumption and production needs.
- Fruits & Vegetables: Fastest-growing segment with a CAGR of 6.5%, reflecting increased demand for fresh, organic produce.
Nutrient Content:
- 20% to 40% Organic Substance: Held the highest market share in 2022 and projected to continue leading, owing to its broad applicability.
- Up to 60% Organic Substance: Expected to grow fastest, with a CAGR of 6.4%, due to its role in addressing soil mineral deficiencies.
Form:
- Dry: Includes granules and pellets for slow nutrient release.
- Liquid: Offers quick nutrient uptake for immediate plant needs.
Regional Insights
Asia-Pacific: Dominated the market in 2022 with nearly 60% revenue share and anticipated to continue leading, fueled by population growth, improved agricultural practices, and supportive government policies.
Leading Market Players
- Tata Chemicals Limited
- The Scotts Miracle-Gro Company
- KRIBHCO
- Hello Nature International
- Sustane Natural Fertilizer Inc.
- True Organic Products Inc.
- California Organic Fertilizers Inc.
- BioSTAR Renewables
- ILSA S.p.A
- Coromandel International Limited
These players are focusing on strategies such as product innovation, partnerships, and regional expansions to strengthen their market position.
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