Organic Fertilizers Market to Reach $17.5 Billion, Globally, by 2032 at 6.1% CAGR: Allied Market Research
Organic fertilizer is a natural substance or material used to enrich the soil's nutrient content, thereby promoting plant growth and improving soil fertility. Organic fertilizers are sourced from organic sources, such as plant or animal materials, and provide essential plant nutrients in a gradual, sustainable manner. Organic fertilizers are often favored for their ability to improve soil structure, increase microbial activity, and reduce the risk of soil and water pollution compared to synthetic or chemical fertilizers. These organic fertilizers include compost, manure, bone meal, fish emulsion, and various plant-based materials like seaweed or kelp. These materials release nutrients gradually as they decompose, feeding plants over time and improving the overall health of the soil. Organic fertilizers are a key component of organic farming practices, as they align with the principles of sustainability and environmental responsibility.
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Prime Determinants of Growth:
The global organic fertilizers market is experiencing significant growth due to farmers' increased focus on agricultural expansion in terms of productivity, and agriculture is a major contributor to the economy. On the other hand, the climatic challenges affecting farming activities restrict market growth to some extent. Moreover, the rise in demand for organic fertilizers creates lucrative opportunities for market growth in the coming years.
Report Coverage & Details:
The animal segment is projected to maintain its dominance throughout the forecast period-
By source, the animal segment held the highest market share in 2022, accounting for nearly half of the global organic fertilizers market revenue and is expected to maintain its dominance throughout the forecast period. Animal organic fertilizers play a crucial role in organic agriculture, contributing to market growth. It is mixed with respect to specific crop varieties, soil types, and environmental considerations. Crop performance and nutrient management are improved by these adjustments. On the other hand, the mineral segment would display the fastest CAGR of 6.5% during the projection years. Mineral fertilizers are produced from materials mined from naturally occurring nutrient deposits or from the fixation of nitrogen from the atmosphere into plant-available forms.
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The cereals and grains segment to maintain its lead position during the forecast period-
By crop type, the cereals & grains segment held the highest market share in 2022, contributing to nearly three-fifths of the global organic fertilizers market revenue, and is expected to maintain its lead position during the forecast period. As the consumption of cereals and grains is in large quantities, healthy and large-quantity production is also a must to maintain the demand and supply chain. However, the fruits and vegetables segment would cite the fastest CAGR of 6.5% during the forecast timeframe. Consumers are increasingly focused on health and wellness, leading to a higher demand for fresh fruits and vegetables. There is a preference for minimally processed organic, and locally sourced produce.
The presence of organic substance from 20% to 40% segment to rule the roost by 2032-
Based on nutrient content, the presence of organic substance from 20% to 40% segment held the highest market share in 2022, garnering nearly half of the global organic fertilizers market revenue, and is projected to rule the roost by 2032. The fertilizers that contain organic substances from 20% to 40% are obtained from alfalfa, animal tankage, cocoa shell, composts, cottonseed, fish meal, and manure. These sources contain less than 20% organic substances required by crops for proper nutrients. Furthermore, the presence of organic substances up to 60% segment would exhibit the fastest CAGR of 6.4% from 2023 to 2032. This is because they help in overcoming mineral deficiency in the soil and aiding the crop for optimal production. Many organic fertilizers are used for farming, such as manure, worm castings, peat, and dung.
Asia-Pacific region garnered major market share by 2032-
Based on region, the Asia-Pacific region held the highest market share in 2022, garnering nearly three-fifths of the global organic fertilizers market revenue, and is likely to dominate the market by 2032. The same segment would also portray the fastest CAGR of 6.3% during the forecast timeframe. This is due to the growth of the Asia-Pacific fertilizer industries, the rising food demand brought on by population expansion, bettering farming techniques, and government measures to increase agricultural output.
Leading Market Players: -
The report provides a detailed analysis of these key players in the global organic fertilizers market. These players have adopted different strategies such as new product launches, collaborations, expansion, joint ventures, agreements, and others to increase their market share and maintain dominant shares in different regions. The report is valuable in highlighting business performance, operating segments, product portfolio, and strategic moves of market players to showcase the competitive scenario.
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