Jan 25, 2023
Report projects continued growth in organic fertilizers market
A new report from market researcher P&S Intelligence found that the organic fertilizers market generated $5.8 million in revenue in 2022 and is expecting to keep growing through 2030.
The report from India-based P&S Intelligence projects the market to rise at a 12.1% compound annual growth rate from 2022 to 2030, generating $14.6 million in 2030. The growth is being drive by a rising number of organic farms, growing demand for organic food products and expansion of agricultural land, according to the report.
In addition, availability of plant and animal waste and improvements in the organic fertilizer manufacturing process is creating more opportunities for fertilizers suppliers.
The cereals and grains category captured 62.8% of the market in 2022 and is project to remain a large user in coming years. The demand is driven by high yields of and farming area devoted to crops including barley, wheat, oats and rice.
The animal-based category held a revenue share of 63.2% in 2022, with the demand for animal-sourced manure growing rapidly and expected to increase, according to the report. Fertilizers produced from animal waste, bone meal and blood meal are rich in potassium, phosphorous and nitrogen, major nutrients needed by plants.
The report also forecast sustained product demand in the Asia-Pacific market, driven by growing health awareness, land cultivation and population and income growth, in addition to enhanced mechanization and irrigation capabilities in the region. The European market is also projected to grow significantly, as it has the largest organic arable land area at more than 17 million hectares.
The report also identified key players in the organic fertilizer market, including:
- The Scotts Miracle-Gro Co.
- Israel Chemical Ltd.
- Coromandel International Ltd.
- Sustane Natural Fertilizer Inc.
- Nature Safe
- Italpollina spa
- True Organic Products Inc.
- Midwestern BioAg
- Multiplex Group of Companies
- Perfect Blend LLC
- Aryan Crop Protection Private Ltd.
- Pruthvi Khhetiwadi Kendra
