New York, USA, July 09, 2024 (GLOBE NEWSWIRE) -- Organic Fertilizers Market Size:
The Global Organic Fertilizers Market was valued at USD 7.07 billion in 2023 and is anticipated to generate an estimated revenue of USD 18.48 billion by 2032, with a CAGR of 11.3% from 2024 to 2032.
Organic fertilizer is also referred to as organic manure. Mainly, it indicates compost created from animal refuse or animal or plant remnants that are copious in organic by-products. For instance, guano, parched and powdered blood, ground bone, squashed shells, exquisitely crumbled fish, phosphate rock, and wood. The nutrient constituents embedded in organic fertilizer are predominantly inorganic condition so it is arduous for crops to utilize them instantly. By way of the activity of microorganisms, an assortment of nutrient components is discharged gradually to offer nutrients to plants constantly.
Moreover, with the ongoing advancement of contemporary agriculture, the part of organic fertilizers in agriculture fabrication is becoming excessively crucial. Agricultural commodities developed with organic fertilizers have adequate savor and productively sustain the distinct nutrition and flavor of fruits and vegetables and also play an important part in the enhancement of the soil environment. Thus, it is crucial to petition and comprehend organic fertilizers.
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Fundamental Stats from the Report
- The global market for organic fertilizers was valued at USD 7.07 billion in 2023.
- The market is expected to grow at a 11.3% compound annual growth rate (CAGR) during the forecast period of 2024-2032.
- The organic fertilizers market size is anticipated to grow to USD 18.48 billion by 2032.
Key Findings from the Report
- The market for organic fertilizers is expanding due to several factors, including growing consumer consciousness regarding viable agricultural practices and the growing demand for organic food commodities.
- The market is mainly segmented on the basis of form, crop type, source, and region.
- North America dominated the market with the largest organic fertilizers market share.
Organic Fertilizers Market Key Players
- Biolchim Spa
- Agilent Technologies, Inc.
- Biostar Renewables, LLC
- Cropmate Fertilizers Sdn Bhd
- Elixir Group
- K+S Aktiengesellschaft
- Lallemand Inc.
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Important Market Developments:
Growth Drivers:
- One of the main factors driving the organic fertilizers market growth is the rise in consumer consciousness regarding the benefits of organic food and viable agricultural practices. Consumers are growingly classifying health aware options, looking for produce that is liberated from synthetic chemicals and pesticides.
- Additionally, the escalating awareness of viable agricultural practices is pushing farmers to acquire organic fertilizers. With consumers asking for more transparency in food production methodologies and looking for commodities that dispose of their usefulness, farmers are identifying with the requirement to convert to organic farming methodologies.
Trends:
- The forecast period will witness substantial growth in the organic fertilizers market demand due to the escalating significance of product invention and research and development endeavours. Makers are growingly funding the advancement of progressive organic fertilizer expressions that provide enhanced nutrient constituents, improved soil health advantages, and superior crop yields.
Challenges:
- The lower nutrient absorption in organic fertilizers juxtaposed to artificial replacements presents a notable barrier to the market. This imbalance compels the supplication of massive quantities of organic fertilizers to meet the nutrient needs of crops, generating escalated application prices and logistical provocations to farmers.
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Organic Fertilizers Market Regional Insights:
North America: The organic fertilizers market in North America is expected to increase due to the region's strong agricultural industry, escalated consumer consciousness in the context of organic commodities, and encouraging government capabilities encouraging viable farming practices.
Asia Pacific: The Asia Pacific will grow at a significant rate. This expected growth can be attributed to the proactive initiatives launched by different market players.
Organic Fertilizers Market Segmentation Overview:
By Form Outlook
- Liquid
- Dry
By Crop Type Outlook
- Oilseeds & Pulses
- Fruits & Vegetables
- Cereals & Grains
- Others
By Source Outlook
- Mineral
- Animal
- Plant
By Region Outlook
- North America (U.S., Canada)
- Europe (France, Germany, UK, Italy, Netherlands, Spain, Russia)
- Asia Pacific (Japan, China, India, Malaysia, Indonesia, South Korea)
- Latin America (Brazil, Mexico, Argentina)
- Middle East & Africa (Saudi Arabia, UAE, Israel, South Africa)
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