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Market Overview
The Organic Fertilizers Market has seen rapid growth owing to rising health consciousness among people. Organic Fertilizers industry is expected to grow at Significant 13% CAGR from 2019 to 2023 as per MRFR Analysis.
Market Dynamics
In contrast to chemical fertilisers, organic fertilisers not only supply nutrients to the soil but also maintain soil health. People’s increased literacy rates and purchasing power have resulted in a shift toward healthier diets over more food. People are becoming more aware of the potential benefits of organic farming. This will result in an increase in the market for organic produce as well as organic fertilisers. Furthermore, the growing bourg eoisie population has raised demand for high-quality food. Many farmers are transitioning to organic agriculture in order to fulfil increased demand. Organic fertilisers will undoubtedly gain market share as a result of this. Another factor for the increased area dedicated to organic agriculture is the lower cost of organic produce. Farmers benefit from increased remuneration for organic products because it is of higher quality. As a result, farmers are easily persuaded to pursue organic farming. Furthermore, Organic Fertilizers Market maintain soil production for an extended period of time, which is not achievable with conventional fertilisers. Many chemical fertilisers are being restricted by governments and regulatory agencies around the world. This will also encourage farmers to use organic fertilisers. Furthermore, government awareness and encouragement of organic agriculture are causing a significant shift in the fertiliser sector. With all of these variables combined, organic fertilisers are likely to play a larger role in farming during the projection period.
As with any good product, organic fertilisers, despite their numerous advantages, have certain downsides. The first is that the cost of producing organic fertilisers frequently exceeds the cost of producing chemical fertilisers. As a result, organic fertilisers are healthier for the soil and have a lower cost-benefit ratio in the near run. Despite the fact that players generate a considerable amount of organic waste, only few of them are properly utilised. As a result, raw materials for fertiliser manufacture are becoming scarce. It is still a difficult effort to organise the collecting of raw materials for the production of organic fertilisers.
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Competitive Dynamics
Some of the key global and regional players of this market are Tata Chemicals Ltd. (India), Midwestern BioAg (USA), Tata Chemicals Ltd. (India), ,Agrocare Canada (Canada), Coromandel International Limited (India), Italpollina S.p.A. (Italy), The Scotts Miracle-Gro Company (USA), Sustane Natural Fertilizer, Inc. (USA).
Segmental Analysis
The organic fertilisers industry is classified into Minerals, Animals, and Plants based on the source of production. Among the other forms, animal-based fertiliser is growing the fastest.
The biofertilizers market is divided into four categories based on crop source: oilseeds and pulses, cereals and grains, fruits and vegetables, and others. Fruits and vegetables are the fastest growing market sector, owing to the increased necessity of including them in one’s diet.
The Organic Fertilizers Market is divided into two categories based on certification: 100 percent organic and 95 percent organic.
Furthermore, the organic fertilisers market can be divided into two types: dry organic fertilisers and liquid organic fertilisers. Liquid organic fertilisers outperform the other two varieties in terms of growth rate.
Regional Overview
Europe accounts for the lion’s share of the worldwide organic fertiliser market. In truth, Europe has a significant region dedicated to organic farming. Sweden, Austria, Denmark, and Germany have the largest organic fertiliser markets. Furthermore, the high purchasing power of the population in this region allows farmers to invest in organic inputs.
Asia-Pacific, on the other hand, is the fastest-growing market. Favorable government policies, rising literacy rates, and increased purchasing power are the primary drivers of growth. During the projected period, the North American area is also expected to have moderate gain in market share.
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