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The increasing demand and adoption of environment-friendly agricultural products is predicted to drive the global organic fertilizer market in the forthcoming years. The farmers are increasingly looking for credible, beneficial, and natural options for their agri-commodities. Moreover, the rising environmental concerns viz. sustainability, carbon-footprints, and emission intensities are attributing favorably for the market growth of organic fertilizers.
The new product launches and acquisition & merger activities are the most adopted strategies by the prominent players operating in the market. For instance, In January 2019, ILSA S.p.A announced the launch of a novel organic fertilizer ETIXAMIN BIO-K. The new product is hydrosoluble powder and it is quite effective organic fertilizer for foliar application. The organic fertilizers have witnessed robust popularity and demand as compared to synthetic agricultural inputs owing to their eco-friendly nature.
The increasing consumer demand for foods devoid of any synthetic fertilizers and pesticides is expected to propel the market growth in the upcoming years. Organic fertilizers are increasingly utilized to improve crop yields and there is a huge potential to use them as an alternative to conventional inputs. Moreover, the increased efforts of government and market players operating in the market to encourage the use of organic fertilizers are predicted to drive the market growth in forthcoming years. For instance, the European government under its common agricultural policy (CAP) rural growth program has allotted 30% budget for encouraging and supporting organic farming. Organic farming is gaining popularity worldwide as it can easily use as a substitute to the modern forms of farming such as utilization of synthetic fertilizers, and other artificial techniques. The uses of synthetic fertilizers and pesticides have recorded large-scale and widespread damage to the environment which is predicted to boost the demand for organic fertilizers.
The high cost of various organic fertilizers and the high adoption ratio of synthetic fertilizers over organic fertilizers are predicted to restrain the growth of the global organic fertilizers market.
Key Market Driver -
Increasing Demand for Organic Food
Key Market Restraint -
High Reliance on Chemical Fertilizers
The prominent players operating in the global organic fertilizers market are Italpollina spa, Tata Chemicals Limited, True Organic Products Inc., The Scotts Miracle-Gro Company, California Organic Fertilizers Inc., Sustane Natural Fertilizer Inc., Biostar Renewables, ILSA S.p.A, Lallemand Inc., Fertilizers USA LLC, Agrocare Canada, and Others.
Animal-based organic fertilizers are predicted to witness significant growth in the global market of organic fertilizers. The rising demand for animal manure-based organic fertilizers for the production of healthy and maximum yield in a sustainable manner is anticipated to boost the utilization of animal-based organic fertilizers. Moreover, the market players operating in the global market are embarking upon the new launches of animal-based organic fertilizers and investments in R&D activities related to the animal-based organic fertilizers, which is anticipated to further leverage the use of animal-based organic fertilizers.
The dry formulation of organic fertilizers is predicted to hold a prominent share in the global organic fertilizers market. The increasing demand for dry organic fertilizers among farmers owing to the relatively long shelf life, easy transportation, and storage of the product is predicted to boost the sale of dry organic fertilizers. Moreover, the liquid formulation of organic fertilizers is also gaining traction among farmers owing to its ease of application, convenience in the use of the product & to avoid any spoilage or wastage of the product due to contamination.
The cereals segment is anticipated to hold a significant share in the global market of organic fertilizers. The increasing cultivation of cereals because they are consumed as staple across the globe coupled with the high profit associated with the cultivation of organic cereals are projected to boost the utilization of organic fertilizers among cereal growers. Furthermore, the farmers have gravitated towards the cultivation of high-value crops such as organic fruit and vegetable which is expected to boost the demand for organic fertilizers. The long term use of organic fertilizers for the cultivation of fruits & vegetables is economical, eco-friendly, and more efficient over chemical fertilizers, which is anticipated to increase the utilization of organic fertilizers for the cultivation of fruits & vegetables.
The demand for organic products is blooming in North America not only because of more conscious food choices among buyers but also because of growing incomes, coupled with enhanced agricultural practices that make organic yields strong. For instance, according to the Organic Trade Association, approximately 82% of US households purchase organic food regularly. Moreover, the organic food sales in the United States now total nearly $40 billion annually and account for around five percent of total food sales in this country. Besides, the rising area under the cultivation of high-value crops and increasing awareness among the farmers about the environmental benefits of organic fertilizers are predicted to be favorable factors for the market growth in North America.
Europe is anticipated to hold a considerable share in the global organic fertilizers market owing to the rapid expansion of the organic market in countries such as Germany, Italy, Spain, and Denmark which is leading to increased use of organic fertilizers within Europe. Moreover, the stringent policies and the regulatory framework on the use of chemical fertilizers are expected to drive the market of organic fertilizers.
Asia Pacific is predicted to witness rampant growth in the global market of organic fertilizers. The increasing area under the cultivation of organic agriculture due to its high profitability and strong export potential is anticipated to boost the overall sales of organic fertilizers within the region. The farmers are more inclined towards organic fertilizers for crop protection owing to their eco-friendly nature and various supportive government policies, which are projected to further propel the market growth within Asia Pacific.
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