Dubai, UAE, Sept. 05, 2023 (GLOBE NEWSWIRE) -- As per the latest report by Kings Research, the global Organic Fertilizers Market revenue reached USD 11.87 billion in 2022 and is anticipated to reach USD 27.48 billion by 2030, exhibiting a CAGR of 11.31% from 2023 to 2030. The market is expected to grow significantly, driven by the need for increased focus on organic inputs. Furthermore, the growing trend toward sustainable, eco-friendly practices that allow the adoption of organic agricultural methods is likely to support market growth.
Organic fertilizers can be applied to soil or plants to provide them with the necessary nutrients to grow. They are naturally occurring sources of minerals and contain only small amounts of plant and animal waste. They provide balanced plant nutrition by releasing nutrients into the soil solution. Additionally, the need to improve yield and efficiency, lower costs, improve soil health, and meet consumer demand for high-quality, sustainable food is fueling the acceleration of market growth.
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Competitive Landscape
Prominent industry players are concentrating on a number of critical business tactics, including partnerships, mergers & acquisitions, product developments, and joint ventures, to enhance their respective market shares across various geographies and diversify their product offerings. Expansion and investments cover a wide range of strategic objectives, such as funding for R&D projects, the construction of additional factories, and supply chain improvement.
For instance, in March 2023, Mirimichi Green expanded its line of granular products, 4-4-4 Organic Grain Fertilizer. The OMRI-listed 4-4-4 Organic Grain Fertilizer can be applied to any lawn, container plant, vegetable or garden, ornamental plant, or tree, and it contains only organic components and beneficial soil biology.
The major players in the market are:
- Biostar Renewables, LLC
- Coromandel International Limited
- Hello Nature International Srl
- Mirimichi Green
- NatureSafe
- Qilian International Holding Group Limited
- Sigma AgriScience, LLC
- Suståne Natural Fertilizer, Inc.
- Tata Chemicals Ltd.
- The Scotts Company LLC
- Windfall Bio
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Trending Now: USDA Announces $29 Million Increase in American-Made Fertilizer
In March 2023, the American-Made Fertilizer Production Grant Program received a $29 million raise in funding from the U.S. Department of Agriculture (USDA). The initiative offers funds to fertilizer producers so they can upgrade or expand their facilities, lowering the cost and improving accessibility for American farmers.
The agricultural sector, which has been struggling with increased fertilizer prices lately, will benefit from the budget hike. By increasing domestic fertilizer output, the awards will lessen our reliance on imports and help keep prices low for farmers.
Regardless of the type of fertilizer they produce, the program offers incentives to support fertilizer businesses in expanding or modernizing their facilities. As long as the fertilizer producers abide by the eligibility conditions, the program could be utilized to assist in the development of organic fertilizers.
The global Organic Fertilizers Market is segmented as:
By Source
- Mineral
- Plant
- Animal
High Demand for Animal Source Manure to Fuel Product Sales
The animal source segment generated the highest revenue and is anticipated to continue its dominance, depicting a CAGR of 12.01% through the forecast period. With the rising need for animal manure-based organic fertilizers, there will likely be a large growth in animal-based organic fertilizers. It is anticipated that the usage of animal-based organic fertilizers will increase as they deliver maximum output in a sustainable way.
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By Crop Type
- Cereals and Grains
- Vegetables & Fruits
- Oilseeds & Pulses
- Others
Rising Popularity of Cereals as Staple Food to Propel Organic Fertilizers Market Expansion
The cereals and grains segment is anticipated to record the largest CAGR of 12.38% over 2023-2030. Due to the rising production of cereals as a staple food and the strong profit margins associated with organic cereal agriculture, cereals and grains are likely to use more organic fertilizers in the future, which is likely to fuel segment growth.
Cereals are among the most significant staple crops worldwide. Cereal crops can absorb nutrients more effectively due to organic fertilizers. They are one of the most important elements of nutrient management and are more affordable and sustainable than synthetic fertilizers. These fertilizers not only increase plant output and growth but also make the soil more fertile and healthy. Additionally, they aid in boosting crops' resistance to disease, which lowers costs associated with crop protection agents.
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Increasing Awareness of Organic Farming to Drive Market Growth
The rising adoption of organic farming techniques and consumer awareness of their positive benefits primarily drive the market for organic fertilizers. Moreover, numerous favorable government initiatives and policies further augment product expansion. Customer interest in organic products is steadily increasing, with a growing demonstration of their preference for sustainable and eco-friendly solutions. This trend is attributed to the rising awareness and understanding of the advantages associated with organic farming.
Organic farming encourages the use of organic food sources and pest management practices that support the preservation of the ecosystem's natural equilibrium. Over the projected period, all these aforementioned factors are expected to contribute to the demand for organic fertilizers market.
Health Benefits Related to Organic Foods to Spur APAC Market Expansion
Asia Pacific continues to lead the global organic fertilizers market with an anticipated CAGR of 12.34% through the estimated period. The regional industry is proliferating as customers become more aware of the advantages of organic food for their health and the environment. More farmers are switching to organic farming to fulfill this rising demand, which is also boosting the sector's expansion. Organic farming is also gaining popularity on account of the rising uptake of organic fertilizers and natural pest control methods.
Governments are providing financing and incentives to assist in the development of organic agriculture since consumers in the region favor sustainable and environment-friendly products. While other nations such as Thailand, Indonesia, and Vietnam are witnessing an increase in organic farming, India and China continue to be major producers of certified organic products in the region. Escalating consumer demand for organic products and increasing consumer awareness of sustainable agriculture are anticipated to further accelerate the expansion of the APAC organic fertilizer market.
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Key Points from TOC:
1 Introduction of the Global Organic Fertilizers Market
1.1 Market Definition
1.2 Market Segmentation
1.3 Research Timelines
1.4 Limitations
1.5 Assumptions
2 Executive Summary
3 Research Methodology
3.1 Data Collection
3.1.1 Secondary Sources
3.1.2 Primary Sources
3.1.3 Research Flow
3.2 Subject Matter Expert Advice
3.3 Quality Check
3.4 Final Review
3.5 Bottom-Up Approach
3.6 Top-down Approach
4 Global Organic Fertilizers Market Outlook
4.1 Market Evolution
4.2 Overview
4.3 Market Dynamics
4.3.1 Drivers
4.3.2 Restraints
4.3.3 Opportunities
4.3.4 Challenges
4.4 Pricing Analysis
4.5 Porter’s Five Forces Analysis
4.6 Value Chain Analysis
4.7 Macroeconomic Analysis
5 Impact of Russia-Ukraine War
6 Global Organic Fertilizers Market, By Source
7 Global Organic Fertilizers Market, By Crop Type
8 Global Organic Fertilizers Market, By Form
9 Global Organic Fertilizers Market, By Geography
10 North America
11 Europe
12 Asia Pacific
13 Middle East & Africa
14 Latin America
15 Global Organic Fertilizers Market Competitive Landscape
15.1 Overview
15.2 Key Developments
15.3 Key Strategic Developments
15.4 Company Market Ranking
15.5 Regional Footprint
15.6 Industry Footprint
16 Company Profiles
16.1 Biostar Renewables, LLC
16.1.1 Key Facts
16.1.2 Financial Overview
16.1.3 Product Benchmarking
16.1.4 Recent Developments
16.1.5 Winning Imperatives
16.1.6 Current Focus & Strategies
16.1.7 Threat from competition
16.1.8 SWOT Analysis
16.2 Coromandel International Limited
16.2.1 Key Facts
16.2.2 Financial Overview
16.2.3 Product Benchmarking
16.2.4 Recent Developments
16.2.5 Winning Imperatives
16.2.6 Current Focus & Strategies
16.2.7 Threat from competition
16.2.8 SWOT Analysis
16.3 Hello Nature International Srl
16.3.1 Key Facts
16.3.2 Financial Overview
16.3.3 Product Benchmarking
16.3.4 Recent Developments
16.3.5 Winning Imperatives
16.3.6 Current Focus & Strategies
16.3.7 Threat from competition
16.3.8 SWOT Analysis
16.4 Mirimichi Green
16.4.1 Key Facts
16.4.2 Financial Overview
16.4.3 Product Benchmarking
16.4.4 Recent Developments
16.4.5 Winning Imperatives
16.4.6 Current Focus & Strategies
16.4.7 Threat from competition
16.4.8 SWOT Analysis
16.5 NatureSafe
16.5.1 Key Facts
16.5.2 Financial Overview
16.5.3 Product Benchmarking
16.5.4 Recent Developments
16.5.5 Winning Imperatives
16.5.6 Current Focus & Strategies
16.5.7 Threat from competition
16.5.8 SWOT Analysis
Continued…….
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