(MENAFN- America News Hour)
Research Nester recently published a report titled “Asia Pacific organic manure Market Outlook: Industry Analysis & Opportunity Evaluation 2018-2027” which delivers detailed overview of the Asia Pacific organic manure market in terms of market segmentation by source, by form, by nutrient type, and by countries.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter's five force model.
In 2018, Coromandel International Limited launched a DBT 2.0 to improve soil health and balance nutrition, income support scheme, irrigation projects.
The Asia Pacific organic manure market is significantly driven by the increasing penetration of organic farming and sustainable agriculture practices. The Asia Pacific organic manure market held a market revenue of USD 157.29 million in 2018. Several key factors such as rising organic farming practices and increasing government investments for maintaining the eco-friendly environment are anticipated to drive the market for the organic manure market. It is estimated to expand robustly at a CAGR of 5.93% over the forecast period, i.e., 2020-2027.
On the basis of countries, the Asia Pacific organic manure market is segmented into China, India, Japan, South Korea, Indonesia, Australia and rest of Asia Pacific. The organic manure market in China was estimated to hold highest market share (6.40%) in 2018, on account of increasing government initiatives to explore ways in using futuristic and innovative approaches to incorporate insurance programs to protect farm income from price volatility. In China there have been an increase in numbers of national and local organic clubs or platforms, which spreads awareness about organic farming, which in turn is creating an upsurge in the demand for organic manure in Asia Pacific.
The Final Report will cover the impact analysis of COVID-19 on this industry:
Several factors such as rising demand for food security, growing demand for ensuring the sustainability of global food systems, vulnerability to food security & reducing poverty, and establishment of risk management tools & systems have resulted in increased demand of modern-day farming techniques such as organic farming. Increasing number of favorable government regulations & schemes against the usage of fertilizers on account of soil pollution has showcased increased growth in the consumption of organic manure.
The Asia Pacific organic manure market has been segmented by source into plant based, animal based and others. Among these sources, plant based segment is estimated to hold leading market share in 2018. Plant based organic manure have high water holding capacity and prevents soil erosion in crop fields. On the basis of form, the market is segmented into solid and liquid form. Out of which, the solid segment holds the major share on the back of growing applications of solid organic manure. The usage of solid form manure have resulted in the growth in productivity.
The growth of the market may be impeded by a few limitations such as high cost of organic crops and problems associated with production and manual labor in the developing countries of Asia Pacific region. Conventional farmers use all type of chemicals and synthetic pesticides to reduce the cost of production by getting the job done faster and more efficiently. Moreover, organic farmers have to hire more workers for different tasks such as hand-weeding, cleanup of polluted water, and the remediation of pesticide contamination. These processes are time consuming and thus lead to increase in cost of the crops, all of which might hamper the growth of the market over the forecast period.
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This report also provides the existing competitive scenario of some of the key players of the Asia Pacific organic manure market which includes company profiling of Multiplex Group, National Fertilizer Limited, Coromandel International Limited, KRIBHCO, Qingdao Future Group, Jaipur Bio Fertilizers, Special Biochem Private Ltd, Asia Agrotech Co., Ltd and other prominent players. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Asia Pacific organic manure market that will help industry consultants, organic farmers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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