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Organic Fertilizers Market Expected to Reach $17.5 Billion by 2032—Allied Market Research

 
2022
Organic Fertilizers Market

Report Code : A14536

quote The rise in the international market for organic food products has created export and trade opportunities for regions involved in organic farming. Despite the challenges posed by climate change, many governments are actively working on action plans with specific targets to promote organic farming. The growing awareness is prompting a shift toward organic farming practices and, consequently, an increased demand for organic fertilizers. quote

Yerukola Eswara Prasad - Manager
Materials and Chemicals at Allied Market Research

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According to a new report published by Allied Market Research, titled, “Organic Fertilizers Market," The organic fertilizers market was valued at $9.6 billion in 2022, and is estimated to reach $17.5 billion by 2032, growing at a CAGR of 6.1% from 2023 to 2032.

Soil is naturally rich in various nutrients that are essential for plant growth and increased agricultural productivity. However, over time and with repeated crop cultivation, soil loses its nutrient content. The soil degradation happens when the land is being repeatedly exploited for growing crops. The land is not allowed to recover its fertility organically by leaving it uncropped for a few months. Thus, to maintain the balance of nutrients in the soil, there is an increasing need for organic fertilizers which do not harm the soil quality like chemical fertilizers. Important minerals such as nitrogen, phosphate, and potassium, that are essential for growing the crops can be nourished with organic fertilizers. These fertilizers are capable of increasing soil fertility as well as improving water retention, aeration, and moisture retention. Moreover, unlike chemical fertilizers, organic fertilizers do not result in salt buildup in the soil.

There are several types of organic fertilizers that are produced from various organic sources. Organic fertilizers are available in a variety of forms, each generated from a distinct organic source. Alfalfa meal, cow dung, poultry manure, earthworm compost, and blood meal are some of these sources. Each type of organic fertilizer contributes its unique blend of nutrients and organic matter to the soil, promoting healthier plant growth and improved soil quality over time.

The organic fertilizer market's scope encompasses factors such as source, crop type, nutrient content, form, and region, allowing for a customized approach to sustainable agricultural practices. In terms of source, the market is classified into plant, animal, and mineral sources. In 2022, the animal-derived segment held the largest share in the organic fertilizers market. Organic fertilizers derived from animal sources play a pivotal role in organic agriculture, contributing significantly to market growth. Their application varies according to specific crop types, soil conditions, and environmental considerations. However, the sector based on minerals is anticipated to increase at the fastest rate, offering potential in the market for organic fertilizers.

Cereals and grains, oilseeds and pulses, fruits and vegetables, and other crops are the many types of crops that are divided into market segments. Among these, cereals & grains dominated both in terms of revenue and volume within the organic fertilizers market in 2022. During the projection period, this segment is expected to grow at a significant CAGR of 6.0%. Cereal grains, which include wheat, millet, rice, barley, oats, rye, triticale, sorghum, and maize (corn), account for over 80% of protein and more than 50% of calories consumed by people and livestock alike.

Regarding their form, organic fertilizers are categorized as dry and liquid. In 2022, the dry fertilizers segment led in terms of revenue contribution, reflecting substantial market growth. Dry organic fertilizers present significant opportunities, primarily driven by the increasing demand for organic products and services. Farmers are pursuing organic certification and adopting organic farming practices to meet this growing demand. However, during the projection period, liquid fertilizers are expected to dominate market growth. Liquid organic fertilizers can be precisely applied through methods such as drip irrigation and foliar spraying, supporting precision farming practices.

In relation to nutrient content, organic fertilizers are segmented into presence of organic substance up to 60%, presence  of organic substance from 40% to 60%, and presence  of organic substance from 20% to 40%. In 2022, the segment with an organic substance presence ranging from 20% to 40% dominated the organic fertilizer market. These fertilizers support soil recovery from mineral deficits and promote optimum crop growth. For farming, a variety of organic resources are employed, such as dung, peat, worm castings, and manure. The segment with an organic substance presence of up to 60% is expected to grow at a higher rate during the forecast period. Several material sources in the market contain high levels of nitrogen, phosphorus, and potassium.

Regionally, the analysis of the organic fertilizers market spans North America, Europe, Asia-Pacific, and LAMEA. In 2022, the Asia-Pacific region dominated the market and is projected to experience the fastest growth during the forecast period. One of the biggest and most important fertilizer markets worldwide is found in Asia-Pacific. In order to provide food security for the country's growing population and contribute to the world food supply, the agricultural industry is crucial.

The key players operating in the organic fertilizers market are Tata Chemicals Limited., The Scotts Miracle-Gro Company, KRIBHCO, Hello Nature International, Sustane Natural Fertilizer Inc., True Organic Products Inc., California Organic Fertilizers Inc., BioSTAR Renewables, ILSA S.p.A, and Coromandel International Limited. The players have adopted several strategies such as product launch and business expansion to sustain the market competition.

The drivers, restraints, and opportunities are explained in the report to better understand the market dynamics. This report further highlights the key areas of investment. In addition, it includes Porter’s five forces analysis to understand the competitive scenario of the industry and the role of each stakeholder. The report features strategies adopted by key market players to maintain their foothold in the market. Furthermore, it highlights the competitive landscape of key players to increase their market share and sustain the intense competition in the industry.

Key Findings Of The Study:

  • By source, the mineral segment is projected to grow at the highest CAGR of approximately 6.5%, in terms of during the organic fertilizers market forecast period.
  • By crop type, the fruits & vegetables segment is projected to grow at the highest CAGR of approximately 6.5%, in terms of during the organic fertilizers market forecast period.
  • By form, the dry segment dominated the organic fertilizers market share growing at a CAGR of 6.0% in 2021.
  • By region, Asia-Pacific dominated the organic fertilizers market and is expected to grow at a CAGR of 6.3% during the forecast period.

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quote Organic Fertilizers Market by SOURCE (Plant, Animal, Mineral), by CROP TYPE (Cereals and grains, Oilseeds and pulses, Fruits and vegetables, Others), by NUTRIENT CONTENTS (Presence of organic substance up to 60%, Presence of organic substance from 40% to 60%, Presence of organic substance from 20% to 40%), by FORM (Dry, Liquid): Global Opportunity Analysis and Industry Forecast, 2023-2032 quote

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