SEATTLE, March 30, 2020 (GLOBE NEWSWIRE) -- Organic fertilizers comprise various plant and animal-based products with lots of other organic matter. These fertilizers are essential for promoting environmental sustainability as they do not leave any negative impact on the environment. They are a key source of providing essential nutrients to plant and nourishing soil as well. They are highly preferred among farmers due to its non-toxicity and does not contain any chemicals which makes them different from conventional ones. Some organic fertilizers also act as a fertilizer as well as pesticides by repelling the pests and insects in an effective manner. At the same time, they also enhance soil characteristics. Organic fertilizers can be classified into plant-based fertilizers, animal-based fertilizers, and mineral-based fertilizers.
The global organic fertilizer market is estimated to account for slightly less than US$ 6.7 billion in terms of value in the year 2018 and it predicted to grow at a CAGR of 7.2% during the forecast period (2019-2027).
Request for Sample PDF copy @ https://www.coherentmarketinsights.com/insight/request-sample/377
Drivers
Rising awareness regarding the harmful effects of synthetic fertilizers is predominantly fueling the market growth of organic fertilizers. Synthetic fertilizers are basically produced from chemicals and non-renewable sources which leaves a negative impact on the environment such as polluting soil as well as impact the quality of the soil. Hence, all these factors are restricting the adoption of synthetic fertilizers thus propelling the market growth of organic fertilizers.
Increasing implementation of environmental policies for reducing the consumption of non-biodegradable products is projected to foster the market growth of organic fertilizers. Growing agriculture business around the globe coupled with the increasing penetration of more players and increasing investment by current players in the expansion of existing business in the market is also expected to augment the market growth over the forecast period.
Opportunities
Evolving farming practices, increasing R & D investment and growing concern over food security due to rising population is expected to provide immense growth opportunity to the market of organic fertilizers. Changing the perception of farmers and consumers towards eco-friendly products is also expected to augment the market growth of organic fertilizers over the forecast timeframe.
Rising demand for manure-based fertilizers is gaining popularity in the market and this is expected to foster the market growth over the forecast period. These are completely green products as they are derived from plant, animal and human waste which reduces the risk of environmental damages. Hence, rising demand for manure-based fertilizers will favor the market growth over the forecast timeframe.
Market Restraints
Lack of awareness regarding the benefits of organic fertilizers is hampering market growth. Across developing and underdeveloped regions, farmers are still using synthetic fertilizers as it is inexpensive and easily available in the market. For this manufactures of organic fertilizers are required to promote their product in order to position their product in this region. Thus, the lack of awareness regarding the benefits of the organic fertilizers is expected to hinder the market growth.
Key Takeaways:
On the basis of application, the cereals and crops has dominated the global organic fertilizer market in 2018 with a 73.9% of market share in terms of value, followed by fruits & vegetable and lawns & turfs.
Market Trends
The rising trend of using liquid organic fertilizers as they are less labor extensive and are also easy to use is projected to augment the market growth over the forecast period. For instance, in May 2019, Agroplasma Inc has launched a new product - Ferticell Explorer 10-0-0. It is certified by the California Department of Food and Agriculture Organic Input Materials. It is easy to use and is a 100% plant-derived nitrogen component. Hence, the rising trend of using liquid organic fertilizers is expected to fuel market growth.
Rising health-conscious consumers around the globe due to the growing adoption of a healthy lifestyle is expected to accelerate market growth over the forecast period. Use of organic fertilizers in agriculture reduces the chances of diseases in human and also promote the various health benefits. This is projected to augment market growth over the forecast timeframe.
Competitive Section:
Key players operating in global organic fertilizer market are Italpollina spa, ILSA S.p.A, Biostar Renewables, Plantin, Sustane Natural Fertilizer Inc., True Organic Products Inc., California Organic Fertilizers Inc., The Fertell Company, Purely Organics LLC, Pupuk Kaltim, and Qingdao Sonef Chemical Co.,Ltd
Buy this Report Now @ https://www.coherentmarketinsights.com/insight/buy-now/377
Market Taxonomy
By Source
- Plant origin
- Animal Origin
By Form
- Solid
- Liquid
By Application
- Cereals and Crops
- Fruits & Vegetables
- Lawns & Turfs
By Region
- North America
- Latin America
- Europe
- Asia Pacific
- Middle East & Africa