Organic Fertilizers Market Outlook
The Organic Fertilizer Market Size witnessed substantial growth, reaching a valuation of USD 33.74 billion in 2021. Forecasts indicate a significant expansion trajectory, projecting the market to surge from USD 7.76 billion in 2022 to USD 24.77 billion by 2032. This robust growth, reflecting a Compound Annual Growth Rate (CAGR) of 11.1% within the forecast period from 2022 to 2032, is driven by increasing consumer demand for food produced without synthetic fertilizers and pesticides. Recognized for enhancing crop yields, organic fertilizers emerge as a viable alternative to traditional inputs, with collaborative efforts from governments and market entities contributing to growth initiatives. Notably, the European government, through its Common Agricultural Policy (CAP) rural growth program, has allocated a substantial portion of the budget (30%) to promote and support organic farming. This global shift towards organic farming stems from its versatility as a substitute for conventional methods, mitigating the environmental damage caused by synthetic fertilizers and pesticides.
The global organic fertilizers market experiences growth due to the increasing population and their willingness to pay for organic foods. Farmer preferences towards organic farming, driven by favorable pricing, have expanded cultivation areas, contributing to the rising demand for organic fertilizers. Factors such as the growing demand for food, increased crop production, enhanced soil efficiency, economic growth, biofuel demand, and high-quality yield further propel the organic fertilizers market. Increased awareness due to government policies and rules has raised quality standards, increasing the market share of organic fertilizers globally. Market players are capitalizing on new opportunities by expanding product lines and services, fueling the organic fertilizers’ share in the global market. High nutritional benefits derived from organic fertilizers support their global sales, and ongoing product development and research advancements contribute to the market’s increasing growth during the forecast period from 2023 to 2030.
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Downstream Market Analysis:
Globalization and urbanization are pivotal factors driving the growth of the organic fertilizers market. The appreciation for organic fertilizers and their nutritional attributes, along with additional micronutrients, encourages the expansion of the liquid fertilizers market. Consumer willingness to pay for organic foods, coupled with government policies, plays a significant role in driving market growth. Ongoing product development and research advancements contribute to the increasing growth of the organic fertilizers market during the forecast period from 2023 to 2030.
Key Players:
Key players in the global organic fertilizers market include Tata Chemicals Ltd. (India), Midwestern BioAg (U.S.), Coromandel International Limited (India), Agrocare Canada (Canada), Italpollina S.p.A. (Italy), The Scotts Miracle-Gro Company (U.S.), and Suståne Natural Fertilizer, Inc. (U.S.). The demand for organic fertilizers has led manufacturers to innovate and develop new product lines offering better quality and various health benefits.
Regional Analysis:
The global organic fertilizers market is regionally segmented into North America, Europe, Asia Pacific, and the Rest of the World (RoW). Europe accounts for a major market share, followed by Asia Pacific, with ample land availability for organic cultivation and consumer willingness to pay for organic foods driving growth in these regions. Strong government policies and large agricultural land areas contribute to market growth in Asia Pacific. Significant growth is anticipated in Germany, France, and Italy within the European region due to increasing health and environmental concerns over the forecast period from 2023 to 2030.
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Market Segmentation:
The global organic fertilizers market is segmented by source, crop, certifications, form, and region.
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