According to a new report published by Allied Market Research, titled, Europe Organic Fertilizer Market by Source, Crop Type, Form, and Country: Opportunity Analysis and Industry Forecast, 2017-2023, the Europe organic fertilizer market was valued at $2,451 million in 2016, and is projected to reach at $3,260 million by 2023, registering a CAGR of 4.2% from 2017 to 2023.
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Fertilizers that are derived from an organic source such as flora, fauna, and naturally occurring minerals are organic fertilizers. Alfalfa meal, corn gluten meal, cottonseed meal, kelp/seaweed, soybean meal, and humus are the common plant sources, whereas the animal sources include fish extracts, manure, and compost. Organic fertilizers offer several advantages over inorganic fertilizers. The former does not have acid content that has adverse effect on the environment and human health. In addition, organic fertilizers help improve the structure of the soil and increase its water & nutrient holding capacity.
Increased awareness regarding the benefits of organic fertilizers majorly fuels the growth of the Europe organic fertilizer market. Also, the strict guidelines by the governing bodies on the usage of inorganic fertilizers augments the demand for organic fertilizers. However, continuous R&D activities on inorganic fertilizers restrict the market growth. Nevertheless, the upsurge in demand for organic products offers numerous growth opportunity for the market.
Based on source, the market for Europe organic fertilizer is divided into plant, animal, and mineral. The mineral-based source for organic fertilizer is projected to be the highest growing segment during the forecast period. Manure and others are the further bifurcation of animal-based organic fertilizers. Based on crop type, the fruit & vegetable segment is expected to witness highest growth owing to the initiatives from European Union, which supports the producers through the common market organization (CMO) for the use of eco-compatible cultivation and production techniques for the cultivation of fruits & vegetables.
Based on country, the market is analyzed across Germany, France, Italy, Spain, UK, and rest of Europe. Germany generated the highest revenue in 2016, accounting for $729 million, owing to increased adoption of organic farming in the country. The profits earned by organic farmers were 38% more than that of conventional farmers.
Key Findings of the Europe Organic Fertilizer Market:
- Germany is expected to continue to lead the market throughout 2016 to 2023, followed by France.
- Spain is projected to register the highest growth rate from 2017 to 2023.
- The animal-based organic fertilizer segment contributed approximately 50% of the market revenue in 2016.
- The fruit & vegetable segment is projected to dominate the Europe organic fertilizer market.
- Liquid form is projected to register the highest growth rate from 2016 to 2023.
The prominent players profiled in this report include ILSA S.P.A, Italpollina SPA, Fertikal N.V., Uniflor Poland Ltd, Protan AG, Plantin SARL, Novozymes A/S., AGRIBIOS ITALIANA S.r.l, Viano, and E.B.F. EURO BIO FERT S.r.l.