The global market of organic fertilizers is expected to continue its growth during the forecast period, due to the growing agriculture land area for organic cultivation. Since this market’s growth is directly related to the scope of innovation as it is a highly competitive market so, key players are investing in R&D for innovating product lines. Moreover, leading players are also investing in partnership with various organic fertilizers manufacturers as well as research organizations, targeting this as the primary focus area to grow the consumer base.
The global organic fertilizers market is projected to grow at the CAGR of 11.9 %, as it is backed up by the growing demand for organic fertilizers and increasing varieties of organic fertilizer products. Organic fertilizers are fertilizers extracted from animal manure, plant extracts as well as minerals and vegetable matter. Since organic fertilizers are derived from natural substances, damage to the environment is less of a concern. Organic fertilizers are rich in growth hormones and micro nutrients and help to reduce the risk of diseases in humans, as they are used in human food as well. It is experiencing a high demand because of the rise in population moreover, willingness of consumers to pay for organic foods as well as government policies and rules towards increased production of organic fertilizers.
Major Key Players
Some of the key players in the organic fertilizers market: Tata Chemicals Ltd. (India), Midwestern BioAg (U.S.), Coromandel International Limited (India), Agrocare Canada (Canada), Italpollina S.p.A. (Italy), The Scotts Miracle-Gro Company (U.S.), Suståne Natural Fertilizer, Inc. (U.S.)
The global organic fertilizers market is segmented on the basis of source, such as minerals, plants, and animals. This market is also segmented on the basis of crop such as oilseeds & pulses, cereals & grains, fruits & vegetables, and others. On the basis of certifications, the market is segmented into 100% organic and 95% organic. This market is further segmented on the basis of form, such as dry, and liquid, and the market is segmented on the basis of region as well.
Increasing willingness of consumers to pay for organic foods in developed as well as developing economies is one of the driving forces for this market. Some of the key players are also investing in R&D for development of new product lines with improved formulations. Many consumers ingest products, which has organic fertilizers in fruits & vegetables, cereals & pulses, and others. They provide health as well as nutritional benefits by offering vitamins and minerals and help to reduce risk of diseases, thus increasing the market of organic fertilizers.
The chief competitors in this market are persuaded to upsurge their footprints across the globe by acquiring local and regional players. Apart from this, these companies are introducing their products in developing economies to explore the untapped market. Major players are also financing in R&D, especially to develop superior & highest quality products by including natural products. This factor is likely to help them pierce the emerging global organic fertilizers market and fulfill the growing demand. Changing consumer preferences for organic foods will support the sale of organic fertilizers in the regions.
Europe region dominates the global organic fertilizers market because of the ample availability of land for farming under organic cultivations as well as consumer willingness to pay for the organic foods. Key manufacturers are concentrating on intensifying their product lines; by providing various product lines with various nutrients, health benefits, and attractive packaging.