Growing Demand for Safer Alternatives to Chemical Fertilizers Anchors Preference
The drive for organic fertilizers stems from the incessant need to overcome the limitations of synthetic fertilizers. Safer alternatives to chemical fertilizers have bolstered soil structure and crop growth, while offering plant essential nutrients.
The growing preference of organic fertilizers has been increasingly propelled by the need for slow-releasing fertilizers for organic farming. The growing popularity of organic farming across the globe has bolstered the organic fertilizers market prospects immensely over the past few years. The mounting concerns of overfertilization and nutrient deficiency in the soil has generated massive attention among policymakers and agriculturists about the proper use of organic fertilizers. Governments in various countries are promoting eco-friendly solutions that engender sustainable agriculture practices, thus enriching the prospects, notes a TMR study on the organic fertilizers market.
The use of organic fertilizer is viewed as a sustainable soil solution, the reason having to do with the fact that they are made of fresh or dried plant material, animal manures, and a range of agricultural by-products. Some of the other common ingredients used are fish emulsions, bone and blood meals, molasses, and guano.
The global valuation of the market is projected to reach US$6.40 bn by the end of the forecast period of 2017 – 2025. The growth represents a CAGR of 7.6%.
Rise in Demand for Manure-Based Fertilizers in Organic Farming Offers Substantial Revenue Gains
Organic fertilizers have gained extensive adoption for fruit and vegetables among the various applications in the organic fertilizers market. Among the various product types, manure-based fertilizers are expected to generate sizable revenue prospects in the organic fertilizers market. The trend is evident in Europe market. A key factor underpinning the substantial adoption of this product category is the large availability of these in huge quantity from pig farms, poultry farms, and the horse stables. They are particularly useful in enriching the soil with beneficial microbes. Another benefit in the use of manure-based fertilizers is moisture and nutrients retention.
The nutrient value of animal manures varies greatly, depending on the nature of the livestock from where they are sourced. Thus, end users in the organic fertilizers market must have sufficient know-how to make optimal use of the resources and avoid overutilization.
Europe and Asia Pacific Anticipated to Lucrative Markets, Targeted Subsidies Fuel Adoption and Government Initiatives Reinforce Revenue Streams
Some of the key regions contributing to the growth of the organic fertilizers market are Europe and Asia Pacific. Europe heled the major share of the global organic fertilizers market in 2016. Various governments in the European Union are promoting the use of organic fertilizers as a part of sustainable agriculture production process. The abundance of raw materials and the robust manure management from the livestock industry are underpinning the growth prospects of the Europe organic fertilizers market.
On the other hand, Asia Pacific is projected to rise at a remarkable pace during the forecast period. The growth has been fueled by the government initiatives to promote the use of organic fertilizers. Governments in these regional markets are offering targeted subsidies. Furthermore, the growing proclivity of agriculturists toward green farming has cemented the revenue streams in Asia Pacific organic fertilizers market.
These lucrative regions are characterized by the tremendous R&D by various players in the agrochemical industry in exploring the potential of novel raw materials for effecting various soil characteristics for boosting plant growth. Though chemical fertilizers offer immediate nutrient availability, in many cases they are not preferred wherein slow-release of nutrients are required.
Some of the key players in the organic fertilizers market are Bodisen Biotech, Inc., Mycsa Ag., Inc., Sustane Natural fertilizers, Talborne Organics, and BioStar Organics.
This review is based on TMR’s report titled, “Organic Fertilizers Market (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.”
Key Segments of the Global Organic Fertilizers Market are:
- Peat based
- Manure based
- Cereals & grains
- Oilseeds & pulses
- Fruits & vegetables
- Others (Nurseries, Turf etc.)
- North America
- Rest of Europe
- Asia Pacific
- ASEAN(Ex Indonesia &Vietnam)
- Rest of Asia Pacific
- Latin America
- Rest of Latin America
- Middle East & Africa (MEA)
- South Africa
- Saudi Arabia
- Rest of Middle East & Africa
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