(MENAFN- GlobeNewsWire - Nasdaq) Pune, India, Nov. 26, 2021 (GLOBE NEWSWIRE) -- The global green manure market is accounted for USD 1,880.3 million in 2020 at a CAGR of 4.5% in the COVID-19 period, according to a new report by Quince Market Insights . Green manure has significantly aided consumers' access to clean-label foods, to the point where they are willing to pay a premium for them. Thus, leading manufacturers are heavily investing in research and development projects and providing environmental-friendly green manure. Green manure also improves soil fertility and conserves water by preventing the flow of harmful pesticides into water bodies. These factors are poised to enhance the demand for green manure for farming during the forecast period.
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Further, the proportion of arable land used to produce food is decreasing with the growth of the world population. This necessitates the use of poor soils for cultivation. The use of green manure helps improve yield and soil quality. So, the use of green manure is expected to enhance nutrient bioavailability. This is expected to lead to improvement in productivity, nutrient content, and profitability. Furthermore, green manures are less reactive to soil conditions and can improve nutrient uptake as well as utilization efficiency significantly. This is bound to enhance the crop quality. When green manures are used properly to replenish nutrients lost in previous crops, farm productivity is expected to increase.
Green manure is a choice among environmentalists and farmers due to its ability to suppress weeds, break pests' lifecycle, and control diseases. It competes with weeds for water, nutrients, and space, thus disrupting the growing patterns of weeds. Moreover, some species of green manure have an allelopathy effect, which means the plants release chemicals from roots preventing the growth of weeds. Furthermore, off-season growth of green manure crops can also reduce weed growth and proliferation. These factors are projected to augment the growth of sustainable agriculture and drive the overall market growth during the forecast period.
Some Significant Market Developments Considered in the Report:
- April 2021 - Midwestern Bio Ag (U.S.), in collaboration with Sound Agriculture, announced plans to add the SOURCE product line to their sustainable product offering. The product line received praise for its proven nutrient efficiency, ease of use, tank mix compatibility, broad application window, and risk-free performance promise.
- March 2021 – CoverCress (U.S.) raised USD 8.0 million from Bunge, an agribusiness giant unit. The investment helped the company to scale up the crop development of pennycress, which is used as cover crop after the corn harvest.
COVID-19 Impact on the Global Green Manure Market
The QMI team is closely monitoring the impact of COVID-19 on the global green manure industry, and it has been observed that the demand for green manure is uncertain during the pandemic. During the COVID-19 outbreak, the green manure market is projected to experience reduced growth due to logistical constraints in the market. Also, the global health emergency has dented economic growth prospects and disturbed the agriculture market, which has greatly impacted the global green manure market.
Global Green Manure Market, by Source
Based on source, the market is divided into sunhemp, dhaincha, sesbania, and others. Among these, the dhaincha segment is expected to grow at the faster rate during the forecast period.
Dhaincha is widely used as a green manure crop due to its advantages, such as it can be grown all season, improve the physical properties of soil, and assist in meeting the nitrogen needs of succeeding crops. The quantity of nitrogen fixed by dhaincha is around 75 to 80 kg per ha, which helps improve soil fertility and crop growth. As a result, the demand for dhaincha is anticipated to grow during the forecast period.
Global Green Manure Market, by Type
Based on type, the global green manure market is bifurcated into leguminous and non-leguminous. The leguminous segment is expected to grow at the faster rate in the market during the forecast period.
Leguminous plants are more useful for green manuring than other plants since they not only supply humus but also use nitrogen from the air, which they add to the soil as they die. Leguminous green manure crops provide cover and promote soil retention by helping to build soil structure. These factors will enhance the overall market growth during the forecast period.
Global Green Manure Market, by Form
Based on form, the market is divided into dry and liquid. The liquid segment is expected to grow at the faster rate during the forecast period.
The liquid form of green manure is easily absorbed by plants through roots and leaf pores. Micronutrients and growth hormones are abundant in some foliar fertilizers, such as liquid seaweed. Furthermore, liquid manure is widely used in small gardens to help young seedlings grow faster or to treat plants with nutrient deficiencies. These factors will thus significantly be contributing to the market growth during the forecast period.
Global Green Manure Market, by Application
Based on application, the market is divided into grains and cereals, pulses and oilseeds, fruits and vegetables, and others. The grains and cereals are expected to be the fastest growing segment in the market during the forecast period.
Cereals are one of the most important staple crops around the world. The market for grain and cereal crops has grown in size, but the quality of products has also improved significantly. The global demand for grain and cereal crops has increased as a result of the health benefits that these crops provide to the general public. These factors are expected to drive market growth during the forecast period.
Global Green Manure Market, by Distribution Channel
Based on the distribution channel, the market is divided into online and offline. The online segment is estimated to be the fastest growing segment during the forecast period. Technological advancements, adoption of internet services, and changing consumer behavior will contribute to the growth of the e-commerce sector, which in turn, will contribute to the online distribution of green manure products.
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Global Green manure Market, by Region
By region, the global green manure market is segmented as North America, Europe, Asia Pacific, Middle East & Africa, and South America. Asia Pacific is expected to be the fastest growing region in the market during forecast period.
India, China, and Japan are among the leading countries in the agriculture sector of this region. Rising population and growing food demand will contribute to the production of food crops, which in turn, will result in increased demand for crop protection techniques. This is projected to fuel the green manure market in Asia Pacific.
Some Major Findings of the Green Manure Market Report Include:
- Major global market trend and forecasts analysis along with a country-specific market analysis for up to 25 countries
- An in-depth global green manure market analysis by the aforementioned segments, along with an analysis of trend-based insights and factors
- Profiles of major market players operating in the global green manure market, which include KRIBHCO (India), Midwestern Bio AG (U.S.), Biofa GMBH (Germany), Qingdao Hibong Fertilizer Co. Ltd (China), Qingdao Haidel Biotechnology Co., Ltd (China), Viggi Agro Products (India), Humate International Limited (China), Bio Greens (England), Biostar Renewable, LLC (U.S.), Agrocart (India), California Organic Fertilizers (U.S.), Shree Raghvendra Agro Processors (India), Hello Nature USA Inc (Italy), Seek Bio-technology (Shanghai) Co. Ltd (China), Fertikal (Belgium) and Kelpak (South Africa)
- Competitive benchmarking, product offering details, and growth strategies adopted by the leading market players, along with their major investments in the last five years
- Key impact factor analysis across regions that includes analysis, along with the drivers, restraints, opportunities, and challenges that are prevailing in the global green manure market
- Impact of COVID-19 on the global green manure market
Browse key industry insights spread across 195 pages with 135 market data tables and 91 figures & charts from the report,“ Global Green Manure Market , by Source (Dhaincha, Sesbania, Sunhemp, Others), Type (Leguminous, Non-Leguminous), Form (Dry, Liquid), Application (Grains & Cereals, Pulses & Oilseeds, Fruits & Vegetables, Others), Distribution Channel (Online, Offline), and Region (North America, Europe, Asia Pacific, Middle East and Africa, South America) — Industry Trends and Forecast to 2028 ” in depth analysis along with the table of contents (ToC).
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