New York, NY -- (SBWIRE) -- 08/21/2020 -- As per a report by P&S Intelligence, the global organic fertilizers market is predicted to generate a revenue of $14,746.2 million by 2030, and is expected to progress at a 14.1% CAGR during the time period 2020–2030. The market is growing due to the rising downstream demand for organic food and beverages, surging acreage and the number of organic farms, and favorable government policies and initiatives regarding organic farming.
In terms of source, the organic fertilizers market is divided into animal, plant, and others, out of which, the animal division held the largest share of the market in 2019. Fertilizers that are derived from fish waste and several other animals' bones have high nutritional value, and hence, facilitate healthy growth of plants. Moreover, their adoption is growing due to the rising awareness among farmers around the globe about benefits of these fertilizers.
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The requirement for organic fertilizers was the highest for the production of cereals and grains in 2019, and the category is further predicted to register the fastest growth in demand in the coming years as well. This can ascribed to the rising downstream requirement for organically produced products in countries including Canada, the U.S., and Western European countries. The demand for organic products is also increasing in Brazil, China, and India, owing to macroeconomic growth in these countries.
The solid organic fertilizers category is projected to register the higher demand in the coming years as compared to liquid fertilizers in the organic fertilizers market. This is because of the various benefits that are associated with solid organic fertilizers, such as their tendency to hold the nutritional content for a longer amount of time than their variants. Such factors are encouraging farmers to buy these fertilizers in high volumes and stock them for longer periods. This further decreases the cost for farmers of the products.
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Geographically, Rest of the World (RoW) category is expected to advance at the fastest pace in the years to come in the organic fertilizers market. This is due to the significant production of quinoa in the region. The product is majorly produced in Latin American countries, including Argentina, Mexico, and Uruguay. Farmers in the region are increasingly making use of organic fertilizers for the production of such crops, which is driving the market.
Some of the key companies operating in the organic fertilizers market include The Scotts Miracle-Gro Company, Fertikel NV, Coromandel International Limited, Fertoz Limited, Midwestern BioAg, Italpollina S.p.a, Multiplex Group of Companies, Perfect Blend LLC, Biolchim SPA, Walt's Organic Fertilizer Co., Israel Chemical Limited, Sustane Natural Fertilizer Inc., AgroCare Canada Inc., and Nature Safe.
Market Segmentation:
Based on Crop Type
Cereals & Grains
Oilseeds & Pulses
Fruits & Vegetables
Geographical Analysis
North America
U.S.
Canada
Europe
Spain
Italy
France
Germany
Poland
Sweden
Asia-Pacific (APAC)
China
India
Australia
Rest of the World (RoW)
Brazil
Mexico
Uruguay