In terms of revenue, the Global Organic Fertilizers Market is expected to reach USD 22.13 Billion by 2028, growing at a Compound Annual Growth Rate (CAGR) of 12.00% from 2022 to 2028. The Global Organic Fertilizers Market growth is attributed to the factors such as increasing demand for quality and higher crop yields, awareness among people regarding organic farming, and increasing consciousness among consumers regarding health. Moreover, the demand for organic foods is increasing which is propelling the growth of the Organic Fertilizers Market in the coming years.
- Under the source segment, the animal-based sub-segment is anticipated to grow at a substantial CAGR. The growth is attributed to the increasing demand for organic fertilizers as a consequence of the increase in demand for organic foods as well as increasing consciousness among consumers regarding health.
- The dry sub-segment held a significant share of the market in 2021. Increasing demand for dry organic fertilizers owing to high efficiency in all climatic conditions, easy availability of raw materials, among others is propelling the growth of the segment which further helps in boosting the market growth.
- North America is the largest regional segment. This is due to the presence of availability of huge areas under organic cultivation. Moreover, the increase in the inclination of consumers toward organic foods is also likely to fuel market growth.
Some of the key players in the Organic Fertilizers Market include - The Scotts Miracle-Gro Company (US), Tata Chemicals Limited (India), National Fertilizers Limited (India), Coromandel International Limited (India), Krishak Bharati Cooperative Limited (India), Italpollina SpA (Italy), Midwestern BioAg (US), Perfect Blend, LLC (US), ILSA S.p.A (Italy), Sustane Natural Fertilizer, Inc. (US), AgroCare Canada, Inc. (Canada), BioStar Systems, LLC (US), and Nature Safe (US)..
In the past few decades, the population across the globe is increasing swiftly. Consequently, the rising population is increasing the global food supply and demand gap, further increasing the burden on the government as well as Research and Development (R&D) sector. Moreover, post-COVID-19 pandemic, awareness regarding health among the population across the globe is increasing at its unprecedented level. Thus, people are moving towards organic and healthy food. As a result, increasing the demand for organic fertilizers.
Additionally, animal-based organic fertilizers are easy and abundantly available. Also, low quantity requirements, as well as high nutritional value, are increasing the adoption of animal-based organic fertilizers. Changing trend towards veganism, an increasing number of health-conscious consumers is compelling the major supermarket chains, such as Wal-Mart, SPAR, Penny Market, CBA, BIM (Birlesik Magazalar), Ahold Delhaize, Tesco, Lidl, Carrefour, and ALDI to increase their product offering to organic foods. This is surging the demand for organic food, consequently increasing the demand for organic fertilizers. These are some of the major factors driving the Organic Fertilizers Market over the forecast period.
North America is expected to emerge as a potential market for the Organic Fertilizers Market. The market growth is attributed to the presence of emerging economies, increasing demand for organic food, and the availability of huge areas under organic cultivation. Additionally, the presence of the most populated countries in the world such as India and China is likely to boost the demand for organic food further propelling the Organic Fertilizers Market growth.