Organic Fertilizers and Horticulture Products Market Size Forecast to Reach $13.2 Billion by 2026
Growing Popularity of Organic Fertilizers Due to a Variety of Environmental Benefits, Including Improved Soil Structure and Water Conservation Is Driving the Market Growth.
Hyderabad, India – July 24, 2021 /MarketersMedia/ —
Organic Fertilizers and Horticulture Products Market size is forecast to reach $13.2 billion by 2026, after growing at a CAGR of 6.5% during the forecast period 2021-2026. Globally, the increasing usage of organic fertilizers such as animal manure adds nitrogen, potassium, phosphorus, and others in numerous horticulture products. With an expanding number of health-conscious consumers seeking improved food quality and safety, the growing health and wellness trend has been establishing a strong basis for organic foods. Thus the demand for organic fertilizers and horticulture products is rising. Furthermore, organic fertilizer encourages increases in heterotrophic bacterial biomass, which boosts secondary productivity and mineralizes nutrients to boost primary productivity of horticulture products. Moreover, with increasing consumer awareness of the negative consequences of foods cultivated with synthetic fertilizers, is prompting farmers to seek out organic fertilizer alternatives.
Organic Fertilizers and Horticulture Products Market Segment Analysis- By Form
Liquid form held the largest share in the organic fertilizers and horticulture products market in 2020. Increasing usage of agricultural residues and industrial wastes to make liquid organic fertilizers are raising the demand for organic fertilizers. Since the agricultural methods are progressively gravitating toward a commitment to environmental sustainability. As a result, many farmers have begun to accept organic fertilizers. Many people use organic liquid fertilizer since it is more environmentally friendly. The efficiency of application and storage are the primary drivers of the liquid formulations segment’s growth.
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Organic Fertilizers and Horticulture Products Market Segment Analysis- By Crop Type
Cereals & Grains sector held the largest share with 24% in the organic fertilizers and horticulture products market in 2020. Increasing production of cereals & grains in various regions has raised the demand for organic fertilizers worldwide. On a global scale, total cereals & grains production has been increasing, and with the rise in cereal & grains production and consumption, it has become more important for growers to concentrate on yield and quality by employing effective organic fertilizers.
Organic Fertilizers and Horticulture Products Market Segment Analysis- Geography
Asia-Pacific region held the largest share of more than 38% in the organic fertilizers and horticulture products market in 2020. Increasing concerns about the region’s current fertilizer usage trend, heavy reliance on nitrogen fertilizers, poor nutritional management, a lack of additional inputs, decreasing soil fertility, and weak marketing and distribution systems have all emerged as major roadblocks to improving fertilizer performance. Organic fertilizers such as animal manure and plant-based organic fertilizers have developed and fueled the fertilizer market in the area as a result of these concerns. Asia-Pacific region is expected to dominate the organic fertilizers and horticulture products market in the upcoming years with the rising demand for organic fertilizers.
Organic Fertilizers and Horticulture Products Market Drivers
Increasing demand for organic foods
Rising demand for organic food products has uplifted the growth of the organic fertilizers and horticulture products market. Organic food industry growth is fueled by increasing environmental awareness and customer demand. Also, in order to avoid artificial chemicals, the consumption of organic foods has increased. According to the Organic Trade Association’s 2020 Organic Industry Survey, consumers are consuming more organic food and using more organic goods than ever before. Furthermore, in 2019, the organic industry in the United States had a banner year, with organic sales in the food and non-food sectors reaching a new high of US$ 55.1 billion, up from 5% from the previous year (2018).
Rising Innovations in the Production of Organic Fertilizers
The growth of the organic fertilizer market is being fueled by advances in the manufacturing process for organic fertilizers. Composting food wastes, rotting vegetables, fruits, grass, and leaves the traditional way takes time to turn into fertilizers. Biomax Technologies, based in Singapore, has recently created a groundbreaking technology known as the “Rapid Thermophilic Digestion System,” which can turn organic wastes into organic fertilizers in as little as a day. The organic fertilizer market is expanding as a result of these types of advances in the manufacturing process.
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Organic Fertilizers and Horticulture Products Market Challenges
Lack of Awareness
The most significant impediment to organic fertilizers development is the government’s failure to make a firm decision to support organic agriculture at the policy making stage. Simply creating regulations has turned out to be ineffective unless there is a simple and unambiguous guidance from the Center to the panchayat levels in terms of both financial and technical support. Many farmers in various countries have only hazy understandings of organic fertilizers and its benefits over chemical fertilizers.
Organic Fertilizers and Horticulture Products Market Landscape
Technology launches, acquisitions, and R&D activities are key strategies adopted by players in the organic fertilizers and horticulture products market. Major players in the organic fertilizers and horticulture products market are The Scotts Miracle-Gro Company, Tata Chemicals Limited, Krishak Bharati Cooperative Limited Coromandel International Limited, National Fertilizers Limited, Italpollina, ILSA S.p.A, Perfect Blend, LLC, AgroCare Canada, Inc., BioStar Systems, LLC, and Sustane Natural Fertilizer, Inc., among others.
Acquisitions/Technology Launches
In July 2020, The Indian Farmers Fertilizer Cooperative Limited (IFFCO) introduced Neem Cake, an organic manure fertilizer. The fertilizer is an all-purpose organic manure fertilizer which is rich in N, P, K, and organic carbon.
Key Takeaways
Asia-Pacific region dominates the organic fertilizers and horticulture products market owing to the rising demand for organic fertilizers, with the expanding health and wellness trend in emerging economies such as China, India, Japan, and South Korea.
Growing popularity of organic fertilizers due to a variety of environmental benefits, including improved soil structure and water conservation is driving the market growth.
The increasing adoption of organic foods and rising adoption of new production techniques for the production of organic fertilizers is further accelerating the growth of the organic fertilizers and horticulture products market.
Furthermore, rising usage of animal manure owing to their superior aeration and water retention characteristics which improve soil fertility is driving the growth of the organic fertilizers and horticulture products market.
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