As per a report by P&S Intelligence, the global organic fertilizers market is predicted to attain a value of $14,746.2 million by 2030, rising from $4,512.1 million in 2019, and is expected to progress at a 14.1% CAGR during the forecast period (2020–2030). The market is witnessing growth due to the rising utilization number of organic farmlands around the world and rising requirement for organic food products in Europe and North America. Organic fertilizers are made of plant and animal materials and mined rock minerals.
In terms of crop type, the organic fertilizers market is categorized into oilseeds & pulses, fruits & vegetables, and cereals & grains. Among all these, the cereals and grains category dominated the market in 2019, in terms of value. In 2019, a considerable share of organic farm area, nearly 4.8 million hectares was utilized for the production of grains and cereals. Furthermore, attributed such as environmental sustainability and non-toxicological nature of organic farming is further resulting in the growing utilization of organic fertilizers for producing grains and cereals.
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The objective of this research includes;
Geographically, Europe accounted for the largest revenue share of the organic fertilizers market during the historical period (2015–2019). This is primarily due to the fact that the region has the largest tract of organic land that is arable across the globe and has been registering a growth in the organic cultivation in various countries including Italy, Spain, France, and Germany. In addition to this, the downstream retail requirement for organic products, organized supply chain for the distribution-packaging-production model, and high per capita are also driving the demand for organic fertilizers in the region.
As of 2019, the demand for organic products is chiefly high in counties in Europe and North America, including Germany, France, and the U.S., as per the data by the International Federation of Organic Agriculture Movement. This is because the disposable income of people in these countries is high. The organic fertilizers market is further predicted to advance during the forecast period because of the increasing proliferation of organic farming in countries in Asia-Pacific and Latin America. This is also predicted to provide opportunities to the new players entering in the industry.
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The research includes detailed analysis of;
Based on Crop Type