SEATTLE, March 15, 2021 (GLOBE NEWSWIRE) -- Organic fertilizers are derived from organic sources such as vegetable waste, animal waste, and human waste. They include ingredients such as manure, ground bone, dried and powdered blood, crushed shells, phosphate rock, finely pulverized fish, wood, etc. Organic materials, such fish emulsions, molasses, bone and blood meals, guano, and kelp, are used to develop organic fertilizers and are considered as more environmentally friendly solutions. Moreover, they help reduce the need for pesticides that contain chemicals that are harmful to the soil. They improve water movement into the soil, as well as add structure to the soil, making the soil easier to work. In short, organic is widely hailed as the safer alternative to traditional fertilizers.
The global organic fertilizer market is estimated to account for 12.5 Bn in terms of value by the end of 2027, witnessing a CAGR of 7.2% during the forecast period (2020-2027).
Market Drivers:
Increasing demand for organic food and growing awareness regarding the health benefits of organic food is expected to propel growth of the global organic fertilizer market during the forecast period.
In recent years, the popularity of organic food has been increased due to its multiple health benefits. Organic food has grown without the use of synthetic chemicals, such as human-made pesticides, and fertilizers. India’s organic food and beverage consumption has grown in recent years. According to the United States Department of Agriculture (USDA), in 2019, organic food and beverage retail sales reached US$ 69 million and was estimated to further rise by 12% to US$ 77 million in 2020,.
Increasing land area under organic cultivation and advances in the manufacturing process of organic fertilizers are expected to augment growth of the global organic fertilizer market.
Organic farming is advantageous to farmers as it uses their traditional knowledge of the relationships between crops or animals and the environment, and is thus more preferred.
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Market Opportunities:
Growing adoption of organic farming and favourable government initiatives and subsidies for the adoption of organic farming can provide major business opportunities in the global organic fertilizers market. For instance, in May 2020, The European Commission officially proposed a target to increase organic farming in the EU to 25% by 2030.
Increasing the demand for organic fertilizers due to increasing consumption of organic food is expected to offer significant growth opportunities for players in the market. For instance, in February 2021, Qilian International Holding Group Limited planned to triple its organic fertilizer production capacity after completing the first phase expansion of its new organic fertilizer production facility, and put it into production by March 2021.
Market Trends:
Major players in the market are involved in various strategies, such as business expansion, product launch, etc., to meet the increasing demand or to strengthen their market position. For instance, in 2019, Hameinivin Investment, Chinese company, planned to invest around US$ 10 million in an organic fertilizer plant in Tboung Khmum province.
Rising trend of introducing new and advanced organic fertilizers is expected to drive growth of the global organic fertilizer market. For instance, in July 2020, the Indian Farmers Fertiliser Cooperative Limited (IFFCO) launched Neem Cake an organic manure fertiliser to help crops by saving them from nematodes, soil grubs, and pests. It is made from non-edible and de-oiled Neem cake fertiliser, originating from Maharashtra (India).
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Competitive Landscape:
Major players operating in global organic fertilizer market are Qingdao Sonef Chemical Co., Ltd., Pupuk Kaltim, Purely Organics LLC, The Fertrell Company, California Organic Fertilizers Inc., True Organic Products Inc., Sustane Natural Fertilizer Inc., Plantin, Biostar Renewables, ILSA S.p.A, and Italpollina.
In February 2021, Revol Greens launched a plant-based, organic fertilizer, Plant Fed, which is behind its new line of U.S. Department of Agriculture (USDA) certified organic Spring Mix, Green & Red Duo and Romaine Crunch lettuce products.
In April 2020, EarthRenew Inc. and CCm Technologies Limited developed and tested new organic fertilizer product formulations that resulted in several potential innovations and processes for converting waste organic streams into high quality organic fertilizer products.
Market segmentation:
By Source
- Plant Origin
- Animal Origin
By Application
- Cereals and Crops
- Fruit and Vegetables
- Lawns and Turfs
By Form
- Solid
- Liquid
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East and Africa
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