According to latest market study by Future Market Insights (FMI), the shipment of organic fertilizers across North America will reach 4,327.5 KT by 2021-end. Demand for organic fertilizers is set to increase considerably, reaching US$ 3.17 Bn due to growing awareness about health benefits of eco-friendly products and rising demand for organic food products.
Surging awareness about adverse effects of synthetic chemicals present in pesticides, insecticides, and fertilizers on human health and environment is propelling the demand for organic products. This is expected to increase the demand for organic farming in North America, spurring sales of organic fertilizers at 5.8% CAGR in terms of volume.
Also, the market in North America is expected to witness remarkable growth due to the growing focus on sustainability among consumers, especially in the U.S. Various stringent regulations imposed by regional governments and environmental regulatory bodies to encourage the production of organic food products are expected to increase the adoption of organic fertilizers over the forecast period.
Organic cultivation has numerous benefits both in terms of soil quality and human health. However, there are numerous challenges faced while using organic fertilizers. Organic fertilizers are usually priced much higher (mostly 2-4 times) than the conventional fertilizers.
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Moreover, as organic fertilizers are lower in nutritional content (n-p-k) value, they also need to be applied at higher rates. In some cases, where the soil nutrient content is very low, organic fertilizers alone cannot meet the demand.
The initial yield during conversion of land from inorganic to organic is also quite lower. Also, there are additional costs required for the certification of organically cultivated products. Hence, farmers are sometimes reluctant to invest in organic fertilizers. This could restrain the growth of the market to an extent.
Nonetheless, favorable government initiatives and subsidies will help improve the adoption of organic fertilizers, improving the market growth as well. Owing to these factors, the North America organic fertilizers market is poised to expand at a robust pace.
“Various favorable government initiatives are ecnouraging organic farming across the U.S. and Canada. This is expected to bolster the demand for organic fertilizers over the forecast period,” said an analyst at FMI.
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According to the Market Research analysis Sustane Natural Fertilizer Inc, True Organic Products Inc, California Organic Fertilizers Inc., Purely Organics LLC, Fertoz Limited, Fertilizers USA LLC, The Scotts Miracle-Gro Company, Sigma AgriScience, LLC, Bio Green USA, Inc., American Plant Food Corporation and others are identified as Key Players in the North America Organic Fertilizers market.
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