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22.10.2021 17:30

Organic Fertilizers Market to grow US$ 19.7 Bn by end of 2028, Says Coherent Market Insights

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SEATTLE, Oct. 22, 2021 /PRNewswire/ -- The global organic fertilizers market is estimated to account for 19.7 Bn in terms of value by the end of 2028 witnessing a CAGR of 12.08%.

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Organic fertilizers can be classified into three main categories: animal waste, sludge, and vegetable oil. Animal waste is any waste resulting from the castings of animals, including blood, milk, urine, and other excrement. Sludge is any solid material left over from vegetable production, including sewage sludge, industrial waste, and factory waste.

Organic fertilizers enhance the soil with natural composted material, thereby increasing fertility. Organic materials enhance the nutrient-rich soil and improve its texture, enabling it to retain water more effectively, and increase both the microbial and organic activity in the fertile soil. They also help the plants, because they enhance the nutritional value of the plant food by providing the right amounts of nitrogen, phosphorous, and potassium. They help soil retain moisture, and at the same time, they reduce the application of harmful chemicals, improve weed control, and add extra biological oxygen to the ecosystem. Moreover, organic fertilizers save money since they don't require the use of pesticides, herbicides, or fungicides, as in case of conventional fertilizers.

The benefits of organic fertilizers are not limited to increasing the quality of the soils and ensuring plant growth. They also offer several health benefits to the humans and animals that consume them. Organic fertilizers are made from plant waste material such as manure or animal waste and contain high levels of nutrients that are good for human and animal health.

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Market Drivers:

Increasing demand for organic food is expected to propel growth of the global organic fertilizers market over the forecast period. For instance, according to 2019 Organic Industry Survey by the Organic Trade Association, organic food sales in the U.S. increased 5.9% in 2018 to reach US$ 47.9 billion and organic food sales made up 5.7% of overall food sales, which rose 2.3% in 2018

Market Opportunities:

Increasing promotion of environment-friendly approaches in agriculture is expected to offer lucrative growth opportunities for players in the global organic fertilizers market. For instance, in March 2021, Japan's The Agriculture, Forestry and Fisheries Ministry unveiled a draft of a new strategy to promote environment-friendly approaches in the agriculture, forestry and fisheries industries, including a goal of reducing the usage of chemical pesticides by half from the current level by 2050.

R&D in organic manure is also expected to aid in growth of the market. For instance, in September 2021, National Agricultural Cooperative Marketing Federation of India along with CEF Group, an organic fertilizer producer in India, signed an agreement with JK Lake & Waterways Authority to process Dal lake weeds into organic manure for 25 years.

Market Trends:

Major players operating in global organic fertilizers market are focused on launching new products to expand their product portfolio. For instance, in May 2019, Agroplasma Inc. launched Ferticell Explorer 10-0-0. It is certified by the California Department of Food and Agriculture Organic Input Materials.

Major players operating in the global organic fertilizers market are focused on expanding their production capacity to enhance their market share. For instance, in March 2019, Biostar Organics, part of BioStar Renewables, announced the commissioning of its first OMRI-listed, SuperSix organic liquid fertilizer plant, located in Othello, WA (U.S).

Competitive Landscape:

Major players operating in global organic fertilizers market include, Biostar Renewables, California Organic Fertilizers Inc., ILSA S.p.A, Italpollina spa, Plantin, Pupuk Kaltim, Qingdao Sonef Chemical Co., Ltd., Sustane Natural Fertilizer Inc., The Fertrell Company, Purely Organics LLC, and True Organic Products Inc.

Major players operating in global organic fertilizers market are focused on adopting M&A strategies to expand their product portfolio. For instance, in December 2019, Bioenergy DevCo, a developer of anaerobic digestion facilities, partnered with Perdue Farms for acquiring an organic commercial fertilizer processing facility and to supply organic material from Perdue processing facilities.

Similarly, in April 2019, Tradin Organic Agriculture B.V., the Netherland-based manufacturer of organic food ingredients, acquired Sanmark B.V., a wholly-owned subsidiary of Sanmark Corporation that distributed Sanmark Corporation's products to European customers in the dietary supplement, health food, and personal care industries.

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Market Segmentation:

By Source

  • Plant Origin
  • Animal Origin

By Application

  • Cereals and Crops
  • Fruits and Vegetables
  • Lawns and Turfs

By Form

  • Solid 
  • Liquid

By Region

  • North America
  • Latin America
  • Europe
  • Asia Pacific
  • Middle East & Africa

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About Us:

Coherent Market Insights is a global market intelligence and consulting organization focused on assisting our plethora of clients achieve transformational growth by helping them make critical business decisions. We are headquartered in India, having sales office at global financial capital in the U.S. and sales consultants in United Kingdom and Japan. Our client base includes players from across various business verticals in over 57 countries worldwide.

Contact Us:

Mr. Shah
Senior Client Partner – Business Development
Coherent Market Insights
Phone:
US: +1-206-701-6702
UK: +44-020-8133-4027
Japan: +81-050-5539-1737
India: +91-848-285-0837
Email: sales@coherentmarketinsights.com
Website: https://www.coherentmarketinsights.com
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Cision View original content:https://www.prnewswire.com/news-releases/organic-fertilizers-market-to-grow-us-19-7-bn-by-end-of-2028--says-coherent-market-insights-301406561.html

SOURCE Coherent Market Insights

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