Organic Fertilizers Market Outlook
In 2022, the market for organic fertilisers was estimated to be worth USD 5.9 billion. It is anticipated that the market for organic fertilisers will increase from USD 6.66 billion in 2023 to USD 13.78 billion by 2030, with a compound annual growth rate (CAGR) of 12.89% over the forecast period (2023 - 2030). The main market factors raising market share are expanding organic agricultural practises, more government support in the form of targeted subsidies, and growing public knowledge of the advantages of using organic fertilisers.
Since synthetic fertilisers have detrimental environmental consequences like lowering soil fertility and causing environmental damage, there will likely be an increase in demand for organic fertilisers. By preventing toxic pesticides from getting into bodies of water, organic fertilisers market can improve soil fertility while protecting water resources.
Earthworm castings, cow dung, agricultural waste, and animal waste are a few of the ingredients used to make organic fertiliser. Water retention is aided by organic fertilisers. By turning the soil into gas and loosening the soil's hold, organic fertilisers lighten the soil and allow air to reach the plant roots. They safeguard the health of the soil by preventing salt buildup. Organic fertilisers are nutrient-rich and kind to the environment. As more individuals become aware of the risks associated with chemical fertilisers, the market for organic fertilisers is expanding. People are accepting and implementing organic foods into their daily lives. Additionally, a robust scaled demand, notably from Europe, propels market expansion.
Due to the region's extensive reliance on agriculture, demand for fertiliser has significantly increased. Organic fertilisers aid in soil softening and loosening, encourage the growth of healthy microorganisms, and assist the soil hold onto more moisture and nutrients. These traits increase plant health, which is anticipated to fuel the organic fertilisers market CAGR in the upcoming years.
Minerals, plants, and animals are part of the organic fertilisers market segmentation, depending on the source. In 2022, the plant segment held the lion's share, accounting for roughly 55–57% of the market revenue for organic fertilisers.
The organic fertilisers market data has been segmented by crops into oilseeds & pulses, cereals & grains, and fruits & vegetables.
The market was dominated by the cereals and grains category in 2022, and it is anticipated that this segment will grow at the fastest rate from 2022 to 2030.
Based on certifications, the organic fertilisers market size has been divided into 100% organic and 95% organic. In 2022, the segment with the largest market share was 100% organic.
The report breaks down the markets by region, covering North America, Europe, Asia-Pacific, and the rest of the world. The market for organic fertilisers in Europe reached USD 2.7 billion in 2022 and is anticipated to increase at a substantial CAGR over the study period. The significant market share of this region is due to several factors, including the expansion of mechanisation and irrigation systems, high income population increase, broad organic farming areas, and numerous organic producers.
Key Companies in the Biofertilizers market include :
Camson Bio Technologies Limited,National Fertilizers Ltd.,Monsanto BioAg,T Stanes & Company Limited,Rashtriya Chemicals & Fertilizers Ltd,Gujarat State Fertilizers & Chemicals Ltd,Madras Fertilizers Limited,Agri Life,Mani Dharma Biotech Pvt. Ltd.,Biomax Naturals, among others
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