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Organic Fertilizers industry Size
Organic fertilizers are natural substances derived from plant or animal sources that enrich soil nutrients, promote plant growth, and improve soil health.
WILMINGTON, DE, UNITED STATES, September 25, 2024 /EINPresswire / -- Allied
market Research recently published a report titled“Organic Fertilizers Market by Source (Plant, Animal, and Minerals), Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), Form (Dry and Liquid), and Nutrient Content (Presence of Organic Substance up to 60%, from 40% to 60%, and from 20% to 40%): Global Opportunity Analysis and Industry Forecast, 2023-2032.” According to the report, the global organic fertilizers market generated $9.6 billion in 2022 and is expected to grow to $17.5 billion by 2032, with a compound annual growth rate (CAGR) of 6.1% from 2023 to 2032.
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What are Organic Fertilizers?
Organic fertilizers are natural substances derived from plant or animal sources that enrich soil nutrients, promote plant growth, and improve soil health. Unlike synthetic fertilizers, they release nutrients gradually, making them more sustainable. Common examples include compost, manure, fish emulsion, and seaweed. Organic fertilizers are critical for organic farming practices and contribute to environmental sustainability by improving soil structure and reducing pollution risks.
Key Market Drivers & Challenges
- Drivers: The global organic fertilizers market is expanding due to increased focus on agricultural productivity, a crucial driver for economies dependent on farming.
- Opportunities: Rising demand for organic products presents lucrative opportunities for market growth.
- Restraints: Climate change and environmental challenges restrict market growth in certain regions.
Market Breakdown:
Source Segment:
The animal-based fertilizers segment held nearly half of the market share in 2022 and is expected to remain dominant. These fertilizers are tailored to specific crops and soil types, improving crop performance.
The mineral segment is expected to grow at the fastest rate, with a CAGR of 6.5%, due to the growing use of fertilizers made from natural nutrient deposits and nitrogen fixation.
Crop Type Segment:
Cereals & grains led the market in 2022, accounting for nearly three-fifths of the revenue, driven by the high demand for these staple crops.
The fruits & vegetables segment is projected to experience the highest growth, with a 6.5% CAGR, due to increasing consumer focus on health and wellness, alongside demand for organic produce.
Nutrient Content Segment:
Organic fertilizers with 20% to 40% organic content held the largest market share in 2022, driven by fertilizers derived from alfalfa, fish meal, and manure.
Fertilizers with up to 60% organic content are expected to grow fastest, with a 6.4% CAGR, helping to address mineral deficiencies and boost crop production.
Regional Analysis:
The Asia-Pacific region led the global market in 2022, contributing nearly three-fifths of the market share. The region's growth is attributed to rising food demand, population growth, and government initiatives to boost agricultural output. It is expected to maintain this lead with a 6.3% CAGR through 2032.
Top Market Players:
Key players driving the market include:
- Tata Chemicals Limited
- The Scotts Miracle-Gro Company
- KRIBHCO
- Hello Nature International
- Sustane Natural Fertilizer Inc.
- True Organic Products Inc.
- BioSTAR Renewables
- Coromandel International Limited
These companies are employing various strategies such as product launches, collaborations, and expansions to maintain their market share and competitiveness.
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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Allied Market Research
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MENAFN provides the information “as is” without warranty of any kind. We do not accept any responsibility or liability for the accuracy, content, images, videos, licenses, completeness, legality, or reliability of the information contained in this article. If you have any complaints or copyright issues related to this article, kindly contact the provider above.