The global organic fertilizer market is estimated to be valued at US$ 12.31 Bn in 2024 and is expected to exhibit a CAGR of 6.1% over the forecast period of 2024 to 2031.
Organic fertilizers are substances derived from plant, animal or mineral sources that contain essential plant nutrients such as nitrogen, phosphorus, and potassium. They help build and maintain soil health and fertility without using synthetic chemicals. The demand for organic fertilizers is increasing due to rising consumer awareness about the health hazards of chemically grown food and environmental pollution from chemical fertilizers. With more consumers preferring organic produce, the demand for organic fertilizers from farmers is also increasing.
Key Takeaways
Key players operating in the organic fertilizer market are Yara International ASA, PT Pupuk Kalimantan Timur, BASF SE, FMC Corporation, Lallemand Inc., T Stanes & Company Limited, Madras Fertilizers Limited, Cropmate Fertilizers Sdn Bhd, Midwestern BioAg, Biostar Renewables, LLC, NatureSafe, Biolchim Spa, Rizobacter Argentina S.A., National Fertilizers Limited, Gujarat State Fertilizers & Chemicals Ltd., String Bio, Rashtriya Chemicals & Fertilizers Ltd, Agrinos, Biomax Naturals, and Symborg (Corteva Agriscience).
The Organic Fertilizer Market Demand include growing organic farmland area, favourable government policies promoting organic farming, and increasing exports of organic food. It is also expanding globally, with emerging countries in Asia Pacific and Latin America offering huge growth potential. Countries like India and Brazil are incentivizing organic farming to reduce dependence on imported fertilizers.
Market Drivers
- Organic Fertilizer Market Size and Trends is increasing consumer preference for to rising health and environmental concerns which is a major driver for the market. More people are opting for chemical-residue free food.
- Favorable government policies promoting organic farming and providing subsidies on organic fertilizers are encouraging farmers to shift from chemical to organic fertilizers. Many nations have developed national action plans for organic agriculture.
Market Restrains
- Higher costs of organic fertilizers compared to conventional fertilizers act as a restraint. Their production involves more labor and longer periods compared to synthetic fertilizers.
- Limited availability of certified organic waste for production of organic fertilizers is another challenge. More waste needs to be diverted for production to meet the growing demand.
Segment Analysis
The organic fertilizer market is dominated by the cereals & grains sub-segment. This is because cereals & grains constitute a major food crop worldwide, especially rice, wheat and corn. Organic fertilizers help improve the soil fertility and yield of cereals & grains without using any chemicals. The rising health consciousness among consumers is also driving the demand for organic cereal & grain crops grown using organic fertilizers.
Global Analysis
Regionally, North America holds the largest share in the organic fertilizer market currently. This is attributed to increasing consumption of organic food and widespread adoption of organic farming practices in countries like the US and Canada. The demand is mainly driven by growing health awareness among consumers regarding chemical-free food. Europe is another major region driven by shifting preferences towards sustainable agricultural practices.
Asia Pacific is projected to be the fastest-growing market during the forecast period, led by nations such as India and China. Governments in these countries are supporting organic agriculture through initiatives such as subsidies to farmers for adopting organic manure applications. Initiatives are focused on growing demand and production of organic food crops to feed burgeoning populations while maintaining soil quality.
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