The proliferation of huge organic food and beverage retail markets in Europe and North America is driving the demand for organic fertilizers around the world. According to the observations of the International Federation of the Organic Agriculture Movement (IFOAM), in 2019, sales of organic items were mainly concentrated in Europe and North America for a short time. Sales of these products have been considerable in countries such as France, the United States and Germany.
This was mainly due to the high per capita income of the inhabitants of these countries. Moreover, according to IFOAM, the demand for these products will increase in the coming years, which in turn will provide growth opportunities for organizations operating in the global organic fertilizer market in the future. The increase in the area and number of organic farmland is also increasing the demand for organic fertilizers around the world.
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This subsequently stimulates the expansion of the global organic fertilizer market. The market value is expected to increase from $ 4,512.1 million in 2019 to $ 14,746.2 million in 2030. Industry experts predict the market to exhibit a CAGR of 14.1% from 2020 to 2030. Major sources of these materials are animals and plants. Of these, sales of animal fertilizers have been found to be higher in recent years.
The main reason behind the high sales of these fertilizers was the high nutritional value of fertilizers made from animal bones and fish waste. In addition, these fertilizers promote healthy crop growth, due to their greater nutritional value than those of plant origin. Farmers in various countries were very aware of the many advantages of these fertilizers over plant-based ones. This has further boosted sales of animal fertilizers in recent years.
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Across the globe, the organic fertilizer market is expected to experience the fastest growth in the Rest of the World (RoW) region over the next few years, according to estimates from P&S Intelligence, an India-based market research company. The main factor fueling the rapid growth of the market in this region is the large-scale cultivation of quinoa, especially in Latin American countries (LATAM) such as Uruguay, Argentina and Mexico. Indeed, organic fertilizers are widely used in the cultivation of quinoa.
Thus, it can be confidently stated that the sales of organic fertilizers will increase worldwide in the coming years, mainly due to the growing demand for organic food and drink in various countries of the world.
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P&S Intelligence is a provider of market research and consulting services addressing the market information needs of growing industries around the world. Providing the bedrock of market intelligence, P&S as an enterprising research and consulting company, believes in providing in-depth landscape analyzes on the ever-changing market scenario, to enable companies to make informed decisions. and to base their business strategies with astuteness.
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