The increasing trend of organic cultivation is having a great impact on the global market for organic fertilizers. The growing awareness among farmers and agriculturists about the harmful effect of pesticides, chemical fertilizers, and antibiotics on agricultural land is encouraging them to shift towards organic farming, which is significantly reflected on the demand for organic fertilizers across the world.
According to Transparency Market Research (TMR), the global market for organic fertilizers stood at US$3.37 bn in 2016. TMR analysts estimate this market to rise at a CAGR of 7.60% between 2017 and 2025 and attain a value of USS$6.4 bn by the end of 2025.
Researchers at TMR answer some important queries about the worldwide market for organic fertilizers in this blog:
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The main factor behind the growth of the global market for organic fertilizers is the significantly rising demand for organic food and other products. Nowadays, people have become aware of the harmful effect of food products with chemical additives on their health, which is leading them to organic food.
Apart from this, the advancement in the production procedures of organic fertilizers and the expanding size of the potential consumer base are also boosting this market substantially. However, farmers are still apprehensive about shifting to organic cultivation due to the high cost incurred. This factor may limit the demand for organic fertilizers in the long run.
Peat-based fertilizers and manure-based fertilizers are the two main products available in the global market for organic fertilizers. Among the two, the demand for the latter is much higher than the former and is expected to continue doing so over the next few years. The proven efficiency of manure-based fertilizers is the key factor behind their high demand.
The ample availability livestock manure from poultry farms, pig farms, and horse stables are likely to propel this market segment in the years to come. The segment will also gain from the increasing number of government initiatives to encourage the usage of these fertilizers in farming practices.