October 8, 2020

Organic Fertilizers Market Size, Share, Demand, Trends, Growth and Revenue Estimation

As per a report by P&S Intelligence, the global organic fertilizers market is predicted to attain a value of $14,746.2 million by 2030, rising from $4,512.1 million in 2019, and is expected to progress at a 14.1% CAGR during the forecast period (2020–2030). The market is witnessing growth due to the rising utilization number of organic farmlands around the world and rising requirement for organic food products in Europe and North America. Organic fertilizers are made of plant and animal materials and mined rock minerals.

The increasing acreage of organic farmlands is one of the major factors that are leading to the growth of the organic fertilizers market. A number of private and public players in the industry are investing in the organic food supply chain, along with which the downstream requirement for organic products, owing to their perceived health advantages, is growing as well. Lesser amount of chemicals are utilized for the production of organic products, because of which, the preference of consumers is shifting towards these items.
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Therefore, in order to cater to the changing needs of people, the focus on organic farming has increased substantially over the past years, thereby driving the demand for organic fertilizers. According to the data that was released by the Research Institute of Organic Agriculture, benchmarking and labelling, participatory guarantee systems, equivalence agreements between countries for the certification of products, and government policies and initiatives are some of the key factors that are pushing the adoption of organic farming in different countries.

Geographically, Europe accounted for the largest revenue share of the organic fertilizers market during the historical period. This is primarily due to the fact that the region has the largest tract of organic land that is arable across the globe and has been registering a growth in the organic cultivation in various countries including Italy, Spain, France, and Germany. In addition to this, the downstream retail requirement for organic products, organized supply chain for the distribution-packaging-production model, and high per capita are also driving the demand for organic fertilizers in the region.

In conclusion, the demand for organic fertilizers is growing due to the increasing acreage of organic farming areas and changing consumer preferences.