A recent report by Transparency Market Research (TMR) suggests that the competitive landscape of the global organic fertilizers market is highly fragmented, with top players collectively accounting for merely 40% of the market, whereas rest of the shares are distributed among a number of regional and domestic vendors. Some of the prominent companies currently operating in the global organic fertilizers market that have been identified by the report are: Potash Corp., Itallpolina SpA, Sustane Natural fertilizers, Bodisen Biotech, Inc., ScottsMiracle-Gro, BioStar Organics, Talborne Organics, Mycsa Ag., and Protan Ag.
As per the projections provided by the TMR report, the demand in the global organic fertilizers market will increment at a strong CAGR of 7.6% during the forecast period of 2017 to 2025. It has been estimated by the report that the overall valuation of the global organic fertilizers market will be US$6.40 bn by the end of 2025, remarkably up from its evaluated worth of US$3.37 bn in 2016. In the near future, the key companies of this market are expected to improve their product portfolio to meet customized needs of the consumers, expand their geographical presence via mergers and acquisitions, and make their products eco-friendly in order to meet stringent government regulations in various countries.
Fruits and Vegetables Most Profitable Application Segment
Product-wise, the report segments the global organic fertilizers market into peat-based and manure-based. The latter currently serves the maximum demand, both in terms of volume and value, and is expected to remain most fruitful throughout the forecast period, expand the demand at a CAGR of over 7.0% during the said forecast period. Application-wise, the market for organic fertilizers has been classified into cereals and grains, fruits and vegetables, oilseeds and pulses, and turf and nurseries, with fruits and vegetables category generating most of the demand.
Geographically, the report studies the potential of organic fertilizers market in the regions of North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa, and rates Europe as the most lucrative regional market, accounting for more than a third of the global demand alone. Government initiatives for the usage of organic fertilizers instead of chemical fertilizers along with increasing demand from the organic food industry are a few factors augmenting the demand from the European region.
Growing Popularity of Organic Food Driving Demand
Increasing land area under organic cultivation, advancements in organic fertilizers manufacturing processes, increasing health consciousness in the developed regions, and escalating awareness regarding the ill-effects of chemical fertilizers over the soil and environment overall are some of the most important factors driving the demand in the global organic fertilizers market. Organic fertilizers are primarily used for plant and soil nourishment. Made from plant wastes, animal wastes, and other minerals, organic fertilizers maintain their environment-friendly content and thus, provide favorable surroundings for the soil micro-organisms. As a result, activity of soil increases. As the awareness regarding these benefits increase, the demand for organic fertilizers is expected to increment accordingly.
On the other hand, high reliance on inorganic means of cultivation and high cost are two factors hindering the proper prosperity of the global organic fertilizers market. Nevertheless, increasing size of potential consumer base, particularly in the developed regions of Europe and North America are opening new opportunities for the vendors operating in the global organic fertilizers market.
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