Albany, NY -- (SBWIRE) -- 05/09/2018 -- The global organic fertilizers market is pervading across all the regional pockets due to the proven efficiency of these fertilizers. An analysis of the global organic fertilizers market by Transparency Market Research (TMR) reveals that numerous small-, medium-, and large-scale players dwell in the market, making the competitive landscape immensely fragmented. This owes to the constant efforts of every player, irrespective of its size, to capture a sustainable market share. The market players placed at the top of the table account for a mere 40% of the total market share, reflecting the palpable influence of small and medium-sized players. These small and medium-sized players exert their influence in regional and domestic market, thus, contributing to the cumulative growth of the global market. The major market players are Talborne Organics, Protan Ag.,Sustane Natural fertilizers, Itallpolina SpA, Potash Corp., Bodisen Biotech, Inc., Mycsa Ag., BioStar Organics, and ScottsMiracle-Gro. Mergers and acquisitions are also a key strategy expected to be adopted by various market players in the coming years.
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The CAGR of the global organic fertilizers market for the period from 2017 to 2025 is estimated to be 7.6%. The market value stood at US$3.37 bn in 2016 and is expected to elevate to US$6.40 bn by the end of 2025. Based on the type of products, manure-based and peat-based are the two categories, out of which the former would attract greater demand. Geographically, Europe is projected to offer the most lucrative opportunities over the forecast period. The emphasis on the usage of natural fertilizers instead of chemical fertilizers by the government is the primary factor driving growth within the European market. The organic food industry has also been on a rise in the region which further augments the growth of the regional market.
Nourishment of Soil by Organic Fertilizers Acts as Key Driver
Organic fertilizers reap the healthiest produce without causing any deterioration to the soil. This has spurred the demand for these fertilizers from the agriculture industry. Organic cultivation has emerged as an important industry within agriculture due to the apparent benefits of organic crops. This makes it imperative for agriculturalists to have a regular supply of organic fertilizers, thus, propelling demand within the market. Furthermore, chemical fertilizers have been under a lot of negative scrutiny due to their ill-effects because of which farmers prefer not to use them altogether. This shifts the focus on organic fertilizers, creating room for the market players to prosper. The health consciousness of a large population has also generated a sense of awareness amongst them. Since this population is now aware of the benefits served by crops cultivated through organic farming, there is abundant demand for organically produced crops. The nourishment provided to the soil and the plants by organic fertilizers is another important standpoint that bolsters the market.
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High Costs of Organic Fertilizers Hampers Market Growth
Despite the efficiency of organic fertilizers in reaping healthy crops and enhancing the quality of the soil, a number of factors restrain the market. The high costs associated with these crops deprive a number of agriculturists in the developing regions from their usage. Although the effectiveness of organic fertilizers in cultivation has been verified by experts, a large chunk of the agriculture industry still relies upon inorganic modes of cultivation. This poses a threat to the market because a major consumer base is bundled away from the organic fertilizers market. Nevertheless, there are commendable opportunities resting in the developed regions, and the developing regions are expected to soon gather swing in the market.