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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COVID-19 scenario-
- The outbreak of the pandemic gave way to disrupted supply chain across the world. Dearth of raw materials worsened the situation even more, especially during the initial phase, thereby impacting the global organic fertilizer market negatively.
- However, as the global situation is getting ameliorated, the market is projected to revive soon.
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.
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-
- Bio-Flora (Singapore) PTE Ltd.
- Baconco Co., Ltd.
- Cropmate Fertilizers Sdn Bhd
- Jadi Mas – Fertilizers Factory
- Alpha BioGreen
- PT Pupuk Kaltim
- Cropagro
- Thai Central Chemical Public Company Limited Revisoil
- SongGianh Corporation
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