The global organic fertilizers market was valued at US$ 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% from 2019 to 2027.
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 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.
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. Thus, the growth in organic farming is expected to propel the organic fertilizers market. Additionally, rising number of government initiatives and subsidies are encouraging the farmers to opt for organic farming to reduce environmental pollution. Evolving agricultural practices, new technologies, high investments in research & development, and increasing health-consciousness are among the important factors anticipated to boost the growth of organic fertilizers market.
Based on crop type, the organic fertilizers 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 fertilizers market in 2018, and fruits and vegetables segment is expected to register the highest CAGR during 2019–2027.
Organic fertilizers enhances the nutrient uptake from soil and produce high yields of cereals and grains.Rock phosphate is used in the making of organic phosphate fertilizer.
The organic phosphate fertilizer improves the phosphorous uptake by wheat plants and enhances its yield.The addition of humid acid with manure also increases the yield of cereals and grains.
The farmyard manure consists of nitrogen, phosphorous, and potassium that enhances the water holding capacity of soil, soil aeration, seed germination, and plant growth of cereals and grains. Farmyard manure coupled with mineral fertilizer are the best source for sustainable soil health and wheat production. Organic fertilizers like the chicken, horse, and sheep manure helps in increasing the height of barley and rice plants. The mineral based calcium organic fertilizer helps in increasing the cell division, which is essential in rapid growers like corn. Farmyard manure, poultry manure, and compost not only supply the organic matters but also improve the fertility status of the soil on which oats plants are grown. Studies have revealed that a mixture of cow dung and other organic fertilizers containing high amounts of nitrogen, phosphorous, and potassium increased the growth of sorghum plants and their leaf areas.
Geographically, the global organic fertilizers market is segmented into North America, Europe, Asia Pacific, South America, and the Middle East and Africa.In 2018, Asia Pacific has dominated the global organic fertilizers market with highest market share and is estimated to be the fastest growing region during the forecast period.
Favorable government policies, rapidly expanding agricultural land under organic farming, and increasing sales of organic food products will provide lucrative opportunity for organic fertilizers in the region.Apart from this, inclination towards sustainable farming practices due to large number of benefits offered by organic fertilizers will propel industry size during the forecast period.
Furthermore, the adoption of various growth strategies such as technological advancements and product innovation by the major industry is expected to encourage product demand in Asia-Pacific region.
The COVID-19 outbreak, which began in Wuhan (China) in December 2018, has spread around the globe at a fast pace.As of August 2020, the US, Russia, India, Brazil, Mexico, South Africa are among the worst-affected countries in terms of positive cases and reported deaths.
According to the WHO figures updated in August 2019 August 2020 ~21, 876, 707 confirmed cases and ~773,850 total have been reported globally.The outbreak has affected economies and industries due to lockdowns, travel bans, and business shutdowns.
Agriculture and agrochemical is one the world’s major industries facing serious disruptions such as supply chain breaks, technology events cancellations, and office shutdowns as a result of this pandemic.The lockdown of various plants and factories in most of the major countries is affecting the global supply chains and adversely impacting the manufacturing and sales of various types of organic fertilizer.
All these factors have unimaginably affected the global 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 players present in the global organic fertilizers market.
Overall size of the global organic fertilizers market has been derived using primary and secondary sources.The research process begins with extensive secondary research using internal and external sources to obtain qualitative and quantitative information related to the global organic fertilizers market.
Additionally, multiple primary interviews were conducted with industry participants and commentators to validate and analyze the data. The participants who take part in such a process include industry experts such as VPs, business development managers, market intelligence managers, and national sales managers, and external consultants such as valuation experts, research analysts, and key opinion leaders specialized in the organic fertilizers.
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