CHICAGO, March 21, 2024 /PRNewswire/ -- The Organic Fertilizers Market is estimated at USD 7.9 billion in 2024 and is projected to reach USD 13.6 billion by 2029, at a CAGR of 11.5% from 2024 to 2029 according to a report published by MarketsandMarkets. Conventional farming's reliance on synthetic fertilizers poses significant risks to soil health, water quality, and biodiversity. In contrast, organic fertilizers sourced from natural origins offer a more sustainable alternative, reducing chemical runoff and environmental damage. As consumers increasingly prioritize sustainably produced goods without synthetic additives, the surge in demand for organic food directly impacts the need for organically cultivated crops, thus driving the market for organic fertilizers. This trend is underscored by the significant increase in organic food sales, with the Organic Trade Association reporting that organic food sales in the United States surpassed USD 60 billion in 2022, marking another milestone for the resilient organic sector. Total organic sales, inclusive of non-food organic products, reached a record-breaking USD 67.6 billion, highlighting the growing momentum toward environmentally friendly and health-conscious consumption habits.
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By crop type, fruits & vegetables are estimated to grow at the highest CAGR during the forecast period.
The burgeoning consumer preference for organic fruits and vegetables stems from heightened health awareness and apprehensions regarding chemical residues found in conventionally cultivated produce. As consumers increasingly recognize the advantages of organic farming methods, they exhibit a growing willingness to pay premium prices for organic fruits and vegetables. This escalating demand is fueling the necessity for organic fertilizers to bolster the cultivation of these crops. Moreover, the abbreviated growth cycles inherent to fruits and vegetables, in contrast to grains or oilseeds, facilitate swifter turnover and accelerated returns on investment for farmers embracing organic practices. Additionally, the typically elevated market prices commanded by fruits and vegetables compared to other crop varieties furnish farmers with heightened incentives to embrace organic production techniques. This confluence of factors underscores the anticipated surge in demand for organic fertilizers in the fruits and vegetables segment of the market during the forecast period.
By form, the dry segment is estimated to dominate the organic fertilizers market.
The dominance of the dry segment in the organic fertilizers market can be attributed to several factors. Dry organic fertilizers offer several advantages, including ease of handling, storage, and transportation, making them convenient for both manufacturers and farmers. Additionally, dry organic fertilizers have a longer shelf life compared to their liquid counterparts, reducing the risk of spoilage and waste. Furthermore, dry organic fertilizers can be easily blended with other soil amendments and applied using conventional equipment, providing flexibility and efficiency in application. Moreover, the dry segment encompasses various products such as granules, powders, and pellets, catering to diverse crop types, soil conditions, and agricultural practices. Overall, these factors contribute to the dominance of the dry segment in the organic fertilizers market, driving its widespread adoption among farmers seeking effective and convenient nutrient management solutions.
By source, the plant segment is expected to grow at the highest CAGR during the forecast period in terms of value.
Plant-based organic fertilizers, sourced from materials such as compost, crop residues, seaweed, and green manure crops, are anticipated to experience the highest CAGR during the forecast period in the organic fertilizers market. These resources are usually abundant and can be readily expanded to meet rising demands. They generally offer a well-rounded blend of essential nutrients crucial for plant development, encompassing nitrogen, phosphorus, and potassium (NPK), as well as micronutrients. Derived from plant matter, these nutrients undergo natural decomposition, culminating in a fertilizer rich in essential elements necessary for plant growth.
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The North American region is projected to have the fastest growth in terms of value.
The growth in North America can be attributed to several factors, including increasing consumer awareness and demand for organic products, stringent regulations promoting sustainable agricultural practices, and a shift towards environmentally friendly farming techniques. Additionally, the region's advanced agricultural infrastructure and technological innovations further propel the adoption of organic fertilizers among farmers. Furthermore, collaborations between key market players and research institutions to develop advanced organic fertilizers tailored to North American soil and climate conditions contribute to market expansion. As consumers prioritize environmentally sustainable and chemical-free agricultural products, the demand for organic fertilizers continues to surge, driving market growth in North America. This trend is expected to persist, positioning North America as a significant contributor to the global organic fertilizers market's expansion.
Key players in this market include Yara (Norway), ICL (Israel), K+S Aktiengesellschaft (Germany), The Scotts Company LLC (US), Coromandel International Limited (India), Darling Ingredients (US), SPIC (India), T.Stanes and Company Limited (India), Fertoz (Australia), Multiplex Group Of Companies (India), TerraLink Horticulture Inc. (Canada), Midwestern Bio Ag Holdings, LLC (US), Suståne Natural Fertilizer, Inc. (US), Queensland Organics (Australia), and California Organic Fertilizers, Inc. (US).
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