How is Rising Demand for Organic Food Products Driving Organic Fertilizers Market?
As per a study conducted by P&S Intelligence, the global
organic fertilizers market generated
a revenue of $4,512.1 million by 2019, and is predicted to reach a value of
$14,746.2 million by 2030, exhibiting a 14.1% CAGR during the forecast period
(2020–2030). The market has been registering growth due to the increasing
downstream requirement for organic food and beverages, rising acreage and
number of organic farm lands, and favorable government initiatives and policies
regarding organic farming.
On the basis of crop type, the organic fertilizers market is divided into fruits & vegetable, cereals & grains, and oilseeds & pulses. Out of these, the cereals and grains category contributed the largest revenue share of more than 60.0% to the market in 2019. A considerable amount of organic farm area, i.e. about 4.8 million hectares, was used for the production of grains and cereals in 2019. Furthermore, the non-toxic and environmentally sustainable attributes of organically farmed lands are leading to the growing demand for organic fertilizers for the production of grains and cereals.
Get a sample copy of this report: https://www.psmarketresearch.com/market-analysis/organic-fertilizers-market-report/report-sample
Geographically, the European region dominated the organic fertilizers market during the
historical period (2015–2019), which can be owing to the fact that the region
has the largest tract of organic arable lands around the globe and has been
registering a rise in the organic cultivation in various countries, such as
Italy, Spain, France, and Germany. Furthermore, the high per capita
expenditure, downstream retail requirement for organic products, introduction
and ratification of policies and legislations, and the organized supply chain
for various processes are driving the growth of the market in the region.
A major reason for the growth of the market is the rising number and acreage of organic farmlands across the globe. This is because of the growing investments by private and public players in the organic food supply chain and increasing requirement for organic food, owing to their health benefits. In addition to this, the emphasis on organic farming has been growing rapidly since the past few years, as government initiatives and policies and participatory guarantee systems are compelling farmers to opt for organic farming.
