Stiff competition in the global organic fertilizers market has kept the industry robust. The increasing consciousness about the consequences of using synthetic fertilizers on crop health are driving the demand for organic fertilizers. Many established players in the global organic fertilizers market have either ramped up production, or have acquired regional companies, notes Transparency Market Research (TMR). The competition has become tougher with top market players merging with key companies to meet the current and emerging demand.
Some key players in the global organic fertilizers market are Labiofam S.A., Novozymes A.S., CBF China Biofertilizers, Tata Chemicals Ltd, and BioStar Systems LLC. Looking at the favorable growth prospects, new players will enter the global organic fertilizers market in the coming years.
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The push for organic farming is propelling the growth of the organic fertilizers market. TME finds in a study that the market was valued at US$3.37 bn in 2016 and is projected to expand at a CAGR of 7.6% during 2017-2025. It is predicted that the global organic fertilizers market will attain an overall value of US$ 6.40 billion by the end of 2025.
Geographically, Europe is predicted to emerge as the leader in the global organic fertilizers market. Sufficient availability of raw materials, thrust from the government, and increasing awareness about the advantages of organic fertilizers, are factors boosting the demand in this region. Asia Pacific region is expected to remain a significant region for the global organic fertilizers market.
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Product-wise, manure-based organic fertilizers accounted for the highest volume in sales in 2016. This trend will continue to remain prominent in the coming years, too. They are a rich source of nitrogen and easily available from poultry farms, horse stables, and pig farms.
Rich Soil Nourishment Potential and Demand for Sustainable Agriculture Favors Market Growth
Several research studies have identified the harmful effects of synthetic fertilizers. They not only impact the health of human beings, but also has adverse effects on the environment and other living organisms. They disturb the ecosystem, too. With governments and policy makers apprised about these consequences, the thrust on shifting to organic farming is increasing. This is a boost for the global organic fertilizers market.
Further, organic fertilizers favor soil nourishment. They facilitate microbiological exercise and also improve movement of night crawlers, a significant factor for soil nourishment. Another crucial driver is the push for sustainable agriculture. With constantly growing population across the globe, the demand for food grains, fruits, and vegetables is on the rise. The rising use of organic fertilizers in sustainable agriculture is a positive trend for the global organic fertilizers market.
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Dependence on Weather can Hamper Growth, Thrust on Identifying Next-generation Organic Fertilizers Could Boost Market
For organic fertilizers to work efficiently, they need ample water, which is dependent on the year”s rainfall. Given the increasing unpredictability of weather due to global warming, the efficiency of organic fertilizers is impacted. This may challenge the growth of the global organic fertilizers market.
However, many governments across the world are pushing for developing organic fertilizers that can work in extreme weather conditions and increase yield. With research studies establishing promising results of some products, organic fertilizers with higher efficiency are likely to hit the market soon.
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The study presented here is based on a Transparency Market Research report titled ‘Product – Peat based and Manure based; Application – Cereals & Grains, Oilseeds & Pulses, and Fruits & Vegetables) – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2017 – 2025.’
The segments of the global organic fertilizers market are:
- Peat based
- Manure based
- Cereals & grains
- Oilseeds & pulses
- Fruits & vegetables
- Others (Nurseries, Turf etc.)
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ALBANY, New York, January 22, 2019 /PRNewswire/ —