Europe to Continue its Dominance in Organic Fertilizers Market until 2023
Reducing soil nutrient content due to use of chemical
fertilizers and pesticides coupled with growing demand for organic food
products to fuel global organic fertilizer market through 2023
According to
TechSci Research report, “Global
Organic Fertilizer Market By Source, By Crop Type, By Form, By Region,
Competition Forecast & Opportunities, 2013 – 2023’’, the global organic
fertilizer market is forecast to around $ 10 billion by 2023, owing to rising
demand for natural and organic fertilizers-based crop products among consumers
across the globe. Excessive use of chemical fertilizers and pesticides in
agriculture lands is fast deteriorating the soil nutrient quality, which is boosting
demand for organic fertilizers to revitalize the nutrient content of the soil. Growing
consumer awareness regarding the advantages of organic products is making an
increasing number of farmers across the globe to use organic fertilizers.
Moreover, rising number of health-related issues due to consumption of fruits
and vegetable grown with chemical fertilizers is augmenting demand for organic
fertilizers in the cultivation of these products over the coming years.
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Animals and plants are the major sources used
to produce organic fertilizers. In 2016, animal-based organic fertilizers,
which include bone meal, blood meal, milk, manure and others, garnered the largest
share in the global organic fertilizer market. Higher phosphorus, calcium and other
nutrient content of animal-based organic fertilizers promotes flower growth and
supports the root strength development. Additionally, growing government
regulations regarding the adoption of sustainable agriculture methods to
produce cereals, oilseeds, and fruits & vegetables is anticipated to drive
the consumption of organic fertilizers, globally, in the coming years. Based on
crop type, the global organic fertilizer market is segmented into categories,
namely, fruits & vegetables, cereals, oilseeds and others. Fruits &
vegetables segment generates the highest demand for organic fertilizers, backed
by rising preference for high nutrient and organic diet among health-conscious consumers.
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“As liquid-based
organic fertilizers are easy to use and more effective than granular
formulations, their share in the global market would continue to increase in the
coming years. Presently, Europe is the largest market for organic fertilizers, supported
by rising government subsidies to farmers and stringent environmental
regulations regarding waste minimization and waste reutilization. Though Europe
is anticipated to continue its dominance as the largest market for organic
fertilizers, Asia-Pacific is expected to witness fastest growth during the
forecast period.,” said Mr. Karan Chechi, Research Director with TechSci
Research, a research based global management consulting firm.
“Global Organic Fertilizer Market By Source, By Crop
Type, By Form, By Region, Competition Forecast & Opportunities, 2013 – 2023” has evaluated
the future growth potential of the global organic fertilizer market and
provides statistics and information on market size, structure and trends. The
report intends to provide cutting-edge market intelligence and help decision
makers take sound investment decisions. Besides, the report also identifies and
analyzes the emerging trends along with essential drivers, challenges and
opportunities in the global organic fertilizer market.
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