Rapidly increasing land areas under organic cultivation along with innovations in manufacturing process of organic fertilizers are the major aspects significantly driving the growth of organic fertilizer market. Expansion of potential customer-base resulting in rising demand and supply of organic fertilizer through growing requirement for organic food is expected to create lucrative growth avenues for organic fertilizer market. Growing awareness regarding the nutritional advantages of animal based fertilizers will further increase the demand and supply of organic fertilizer across the globe. Application of the liquid organic fertilizers is gaining significant traction amongst the farmers since the recent past, particularly owing to less labor extensive factor, thereby opening new growth avenues for organic fertilizer market.
Revolutionizing farming practices, heavy investments in R&D and rising demand for food security are some other factors fuelling the growth of organic fertilizer market. Changing perception of end-users and farmers towards eco-friendly farming procedures is likely to support the demand and supply of organic fertilizer. However, high cost and constant reliance on the inorganic fertilizers for cultivation has been restraining the growth of organic fertilizer market. Furthermore, manure based organic fertilizer is likely to gain significant traction in organic fertilizer market in the forthcoming years. This growth is mainly supported by rising government concern regarding livestock manure.
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With increase in demand for green products and pollution free agricultural products, the term ‘organic’ has become an irresistible trend of modern agriculture and is creating a buzz in the global fertilizers market. Rapid development of organic agriculture coupled with augmenting demand for organic food is expected to increase the demand for organic fertilizers.
Organic fertilizers are derived or made from human waste, animal waste or vegetable matter (usually rotten or non-consumable by humans). Naturally-occurring organic fertilizers consist of animal matter from meat processing industries, peat, slurries, manures and guano. As organic fertilizers are extracted from naturally-occurring substances, the risk of environmental damage is low. Use of organic fertilizers also reduces the risk of diseases in humans, as many fertilizers find their way to human food. Prominent organic fertilizers available in the market include blood meal, bone meal, composites, earthworm castings, bat guano, fish emulsion, alfalfa meal, feather meal and rock phosphate. Selection of organic fertilizers is usually done after determining the nutrients required from the crop.
Organic Fertilizer Market Dynamics
The global market for organic fertilizer has witnessed steady growth in the recent past owing to government support and favorable perception among farmers and end-users. The efficiency of organic fertilizers is slow and long time. As compared to chemical fertilizers, the production of organic fertilizers has less investment and high benefits. This factor is expected to augment the global organic fertilizers market over the forecast period. Owing to the eco-friendly nature of organic fertilizers, governments in many countries have subsidised the prices, making it easier for farmers to use it.
Government and environmental policies minimizing wastage and reduction in the consumption of non-biodegradable raw materials has led to an increased production of organic fertilizers. Regulations are also emphasizing more on human safety, so are supporting markets like organic fertilizers to reduce risk to human life and the environment.
The organic fertilizers market is dependent upon the weather (rains/water supply) of that region or area; hence, weather conditions can hamper the growth of organic fertilizer market. Another concern with organic fertilizers is that a majority of them have lesser nutrient ratio than chemical fertilizers, which can massively impact farm produce.
Organic Fertilizer Market: Segmentation
On the basis of raw material types, organic fertilizer market can be segmented as:
Plant Based Fertilizers
Compost and Compost Tea
Legume Cover Crops
Green Manure Cover Crops
Animal Based Fertilizers
Bone Meal and Blood Meal
On the basis of application, organic fertilizer market can be segmented as:
Organic Fertilizer Market: Regional Outlook
The global organic fertilizer market can be segmented into seven geographical locations — North America, Latin America, Western and Eastern Europe, APEJ, Japan and Middle East and Africa. North America and Europe are expected to dominate the global organic fertilizers market throughout the forecast period. The market in North America and Europe is anticipated to grow robustly owing to conducive climatic conditions and the ample availability of land for farming. In the APAC region, strong government policies and rules are expected to contribute to the growth of organic fertilizer market. Owing to large agricultural land in India, the organic fertilizers market is anticipated to increase at a significant rate over the forecast period.
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Organic Fertilizer Market: Key Players
Some of the major players identified in the global organic fertilizer market are:
Bio Nature Technology PTE Ltd.
Walt’s Organic Fertilizer
California Organic Fertilizers
National Fertilizers Limited
Biofosfatos do Brasil