Chicago, May 20, 2024 (GLOBE NEWSWIRE) -- The global organic fertilizers market is flourishing, driven by rising consumer demand for organic food and a growing awareness of the environmental drawbacks of conventional farming practices. This trend is expected to propel the market from USD 7.9 billion in 2024 to USD 13.6 billion by 2029, reflecting a healthy CAGR of 11.5%.
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Why Organic?
Conventional agriculture relies heavily on synthetic fertilizers, which can harm soil health, water quality, and biodiversity. Organic fertilizers, derived from natural sources, offer a more sustainable alternative. They minimize chemical runoff and environmental damage, making them a compelling choice for environmentally conscious consumers.
The surge in organic food sales underscores this consumer preference. Organic food sales in the United States surpassed a staggering USD 60 billion in 2022, signifying a robust organic sector. This trend extends beyond food, with total organic sales reaching a record-breaking USD 67.6 billion, highlighting a broader shift towards environmentally friendly consumption habits.
Fruits and Vegetables Lead the Charge
Within the organic fertilizer market, the fruits and vegetables segment is anticipated to witness the most significant growth. Heightened health concerns and anxieties regarding chemical residues in conventionally grown produce are driving this surge. As consumers recognize the benefits of organic farming, they are increasingly willing to pay premium prices for organic fruits and vegetables.
This escalating demand necessitates the use of organic fertilizers to cultivate these crops effectively. Fruits and vegetables, with their shorter growth cycles compared to grains or oilseeds, offer farmers quicker turnaround times and faster returns on investments when adopting organic practices. Additionally, the higher market prices typically commanded by fruits and vegetables incentivize farmers to embrace organic production methods.
Dry Fertilizers Reign Supreme
The dry segment dominates the organic fertilizer market due to several practical advantages. Dry fertilizers are easier to handle, store, and transport, making them convenient for both manufacturers and farmers. Their extended shelf life minimizes spoilage and waste compared to liquid fertilizers. Moreover, dry fertilizers can be readily blended with other soil amendments and applied using existing farm equipment, ensuring flexibility and efficiency in application. Finally, the dry segment encompasses a diverse range of products like granules, powders, and pellets, catering to various crop types, soil conditions, and agricultural practices.
Plant-Based Powerhouse
Plant-based organic fertilizers, derived from materials like compost, crop residues, seaweed, and green manure crops, are expected to experience the fastest growth in terms of value within the organic fertilizer market. These abundant resources can be readily scaled up to meet rising demands. Additionally, they offer a well-rounded blend of essential nutrients like nitrogen, phosphorus, and potassium (NPK), along with micronutrients, crucial for optimal plant growth.
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North America Takes the Lead
North America is projected to witness the fastest growth in the organic fertilizer market. This can be attributed to factors such as growing consumer awareness and demand for organic products, stricter regulations promoting sustainable agriculture, and a shift towards environmentally friendly farming techniques. The region's advanced agricultural infrastructure and continuous technological innovations further encourage the adoption of organic fertilizers among farmers. Collaborative efforts between key market players and research institutions to develop advanced organic fertilizers tailored to North American soil and climate conditions are also propelling market expansion.
As consumer preferences shift towards environmentally sustainable and chemical-free agricultural products, the demand for organic fertilizers is poised to continue its upward trajectory in North America, solidifying the region's position as a significant contributor to the global organic fertilizer market's expansion.
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