The awareness of the harmful effects of chemical fertilizers on humans and environment is driving the growth of the global organic fertilizer market.
PORTLAND, OREGON, UNITED STATES, January 4, 2022 /EINPresswire.com/ – According to the report, the organic fertilizer industry was estimated at $ 8.3 billion in 2020 and is expected to reach $ 15.9 billion by 2030, registering a CAGR of 5.9% from 2021 to 2030.
Drivers, constraints and opportunities-
The awareness of the harmful effects of chemical fertilizers on humans and environment is driving the growth of the global organic fertilizer market. On the other hand, several unfavorable climatic conditions slow down growth to a certain extent. However, increasing demand for organic food, especially from Europe and North America which import food from Asia-Pacific, is expected to create lucrative opportunities for market growth.
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â¢ The outbreak of the pandemic has given way to a disrupted supply chain around the world. The shortage of raw materials further aggravated the situation, especially during the initial phase, thus negatively impacting the global organic fertilizer market.
â¢ However, as the global situation improves, the market is expected to pick up soon.
The plant segment to be dominated by 2030-
According to the source, the plants segment dominated with the largest share in 2020, holding more than half of the global organic fertilizer market as it breaks down faster than other organic elements. The minerals segment, however, is expected to quote the fastest CAGR of 6.2% throughout the forecast period, due to increased acceptance and use of organic fertilizers.
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The cereals and cereals segment to maintain the dominant share-
On the basis of crop type, the cereals and grains segment held the highest market share in terms of income, accounting for more than half of the global organic fertilizer market, as it can be cultivated easily and has a high yield. . Simultaneously, the fruit and vegetable segment is expected to post the fastest CAGR of 6.3% during the forecast period. Indeed, the demand for fruits and vegetables is important and constantly increasing.
Asia-Pacific, followed by North America, captured the largest share in 2020-
Based on region, the Asia-Pacific market followed by North America dominated the market with a significant share in 2020, accounting for nearly three-fifths of the global organic fertilizer market. The same province is also expected to experience the fastest CAGR of 6.1% from 2021 to 2030. This is because the region is heavily dependent on agriculture.
Key players in the industry
â¢ Bio-Flora (Singapore) PTE Ltd.
â¢ Baconco Co., Ltd.
â¢ Cropmate Sdn Bhd Fertilizer
â¢ TP. Jadi Mas – Fertilizer factory
â¢ Alpha BioGreen
â¢ PT Pupuk Kaltim
â¢ Food industry
â¢ Thai Central Chemical Public Company Limited Revisil
â¢ SongGianh Company
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