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Rise in awareness of harmful effects caused by chemical fertilizers to both human and environment drives the growth of the global organic fertilizer market.
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Dec 01, 2021, 09:56 ET
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PORTLAND, Ore., Dec. 1, 2021 /PRNewswire/ — Allied Market Research published a report, titled, "Organic Fertilizers Market by Source (Plant, Animal, and Mineral), Crop Type (Cereal & Grains, Oilseeds & Pulses, Fruits & Vegetables, and Others), Form (Dry and Liquid), and Nutrient Content (Presence of Organic Substance up to 60%, Presence of Organic Substance from 40% to 60%, and Presence of Organic Substance from 20% to 40%): Global Opportunity Analysis and Industry Forecast, 2021–2030." According to the report, the global organic fertilizers industry was estimated at $8.3 billion in 2020, and is anticipated to hit $15.9 billion by 2030, registering a CAGR of 5.9% from 2021 to 2030.
Drivers, restraints, and opportunities-
Rise in awareness of harmful effects caused by chemical fertilizers to both human and environment drives the growth of the global organic fertilizers market. On the other hand, several adverse climatic conditions restrain the growth to some extent. However, rise in demand for organic food, especially from Europe and North America that are importing food from Asia-Pacific is projected to create lucrative opportunities for the market growth.
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The plant segment to dominate by 2030-
Based on source, the plant segment dominated with the largest share in 2020, holding more than half of the global organic fertilizers market, as they break down quicker than other organic elements. The mineral segment, however, is expected to cite the fastest CAGR of 6.2% throughout the forecast period, due to increased acceptance and use organic fertilizers.
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The cereal & grains segment to maintain the dominant share-
Based on crop type, the cereal & grains segment held the highest market share in terms of revenue, accounting for more than half of the global organic fertilizers market, as they can be cultivated easily and provide high yield. Simultaneously, the fruits & vegetables segment is estimated to exhibit the fastest CAGR of 6.3% during the forecast period. This is because the demand for fruits and vegetables is large and increasing constantly.
Asia-Pacific, followed by North America, garnered the major share in 2020-
Based on region, the market across Asia-Pacific, followed by North America, dominated the market with major share in 2020, accounting for nearly three-fifths of the global organic fertilizers market. The same province is also expected to witness the fastest CAGR of 6.1% from 2021 to 2030. This is because the region is largely dependent on agriculture.
Key players in the industry-
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Allied Market Research (AMR) is a full-service market research and business-consulting wing of Allied Analytics LLP based in Portland, Oregon. Allied Market Research provides global enterprises as well as medium and small businesses with unmatched quality of "Market Research Reports" and "Business Intelligence Solutions." AMR has a targeted view to provide business insights and consulting to assist its clients to make strategic business decisions and achieve sustainable growth in their respective market domain.
Pawan Kumar, the CEO of Allied Market Research, is leading the organization toward providing high-quality data and insights. We are in professional corporate relations with various companies and this helps us in digging out market data that helps us generate accurate research data tables and confirms utmost accuracy in our market forecasting. Each and every data presented in the reports published by us is extracted through primary interviews with top officials from leading companies of domain concerned. Our secondary data procurement methodology includes deep online and offline research and discussion with knowledgeable professionals and analysts in the industry.
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