Views: 3 Author: Site Editor Publish Time: 2017-07-25 Origin: Site
The organic fertilizers market is projected to grow at a CAGR of 12.08% from 2017, to reach a projected value of USD 11.16 Billion by 2022. Increasing land area under organic cultivation and advancements in the manufacturing process of organic fertilizers are some of the major factors driving the market for organic fertilizers globally.
On the basis of source, the animal-based segment accounted for the largest share in 2016. Animal-based organic fertilizers are further segmented into manure, blood meal, bone meal, feather meal, fish meal, and other by-products. The blood meal segment dominated the market for animal-based organic fertilizers in 2016. Bone meal is a good source of phosphorus and calcium that strengthens the root health development and flower growth. These are some of the major factors driving the market for bone meal organic fertilizers around the globe.
On the basis of crop type, the fruits & vegetables segment is projected to grow at the highest CAGR from 2017 to 2022. Organic fruits & vegetables play a key role in human diet and cannot be easily substituted. They are highly perishable in nature as compared to cereals & oilseeds; however, well-developed cold chains and refrigerated transport facilities have driven the trade as well as demand for organic fruits & vegetables. Increasing demand for organic fruits & vegetables leads to an increase in the demand for organic fertilizers.
The liquid segment is projected to be the faster-growing segment during the forecast period. Liquid fertilizers are preferred over the dry ones because this form is the most suitable, economical, and effective way of mixing fertilizers. The application of liquid fertilizers is also less labor extensive. Such advantages make it the most widely used form of organic fertilizers among farmers.
Increasing need for food security, high investments in R&D, and change in farming practices are the major drivers of the Asia-Pacific organic fertilizers market. Agriculture is one of the major occupations in the Asia-Pacific region; a number of farmers in the region are engaged in agriculture with more than 26 million hectares of organic land, thereby leading to an increased demand for organic fertilizers for higher quality & safe organic foods. The growing organic agricultural practices and requirement of high-quality agricultural produce are also expected to drive the organic fertilizers market growth in this region.
The major restraint in the organic fertilizers market includes the higher reliance on inorganic means of cultivation. In the normal course of cropping and harvesting, the soil tends to lose vital nutrients required for optimum crop productivity. With the increased pressure on land to meet the food demand, farmers have increasingly relied on the application of synthetic fertilizers to optimize the productivity in the cultivated land. Globally, the per land unit consumption of synthetic fertilizers has increased over the past few years; it increased from about 104 kilograms per hectare in the year 2002 to about 138 kilograms per hectare in the year 2014.
The key players that have been profiled in this report include Tata Chemicals Ltd (India), The Scotts Miracle-Gro Company (U.S.), Coromandel International Limited (India), National Fertilizers Limited (India), and Krishak Bharati Cooperative Limited (India). Other significant players include Midwestern BioAg (U.S.), Italpollina SpA (Italy), ILSA S.p.A (Italy), Perfect Blend, LLC (U.S.), and Sustane Natural Fertilizer, Inc. (U.S.).