Organic fertilizers are made from vegetable matter, animal manure, human manure and animal matter. Organic fertilizers enrich the soil, plants and it also benefits the insects. These fertilizers are sustainable, perishable and environment friendly. Farmers are adopting organic fertilizers due to their low cost and healthy long lasting impact on soil. Apart from acting as a fertilizer to the plants, organic fertilizer also conditions the soil.
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The global organic fertilizers market is segmented into product type such as peat based, manure based and others. Further, manure based organic fertilizer segment grabbed major shares of overall organic fertilizers market in 2016.
Further, large availability and low cost of manure based organic fertilizer are augmenting the growth of this segment. Additionally, the adoption of manure based organic fertilizers for crop production is rising owing to its beneficial effects on soil such as improved moisture level and increased nutrient in soil which further help the plants to grow healthy.
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Global organic fertilizers market is expected to register a CAGR of 6.9% over the forecast period. Moreover, the global organic fertilizers market was valued at USD 3.1 Million in 2016 and is expected to reach at notable revenue by the end of 2024.
Rising awareness amongst the population towards benefits of organic farming is estimated to foster the growth of global organic fertilizer market over the forecast period. Further, consumer inclination towards organic products is fuelling the expansion of organic farming across the regions which in turn expected to increase the demand for organic fertilizers in upcoming years.
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The animal segment by source is likely to grow at remarkable pace during the forecast period. Further, use of animal dung as organic fertilizer is very beneficial for crop production.
Composted animal manure fertilizer is used to feed to plants and vegetables. Further, growing demand for animal based organic fertilizer is expected to contribute significantly in the growth of global organic fertilizers market in near future.
Increasing Demand for Organic Foods
The consumption of organic products is increasing in urban areas. Further, rising sales of organic products such as organic food is amplifying the market of global organic fertilizers market.
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Government Initiatives and Programmes
Governments of various nations are encouraging the use of bio fertilizers by subsidies and incentive policies. This encouragement is expected to grow the bio fertilizers market all over the globe.
For instance, U.S. Department of Agriculture (USDA) has initiated an organic certification program that is necessary to be followed by organic producers in the country.
However, lack of awareness regarding benefits of organic fertilizer amongst the farmers and presence of other fertilizers such as chemical fertilizers that are likely to inhibit the growth of the organic fertilizers market in the near future.
The report titled “Organic Fertilizers Market : Glob…ity Outlook 2024” delivers detailed overview of the global organic fertilizers market in terms of market segmentation by source, by product type, by application and by region.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
This report also provides the existing competitive scenario of some of the key players of the global organic fertilizers market which includes company profiling of Italpollina SpA, Fertikal N.V., Multiplex Group, Gujarat Bio Organics Pvt. Ltd., Walt's Organic Fertilizer, BioSTAR Organics, California Organic Fertilizers, Madras Fertilizers Limitednd, ScottsMiracle-Gro and Sustane Natural Fertilizers.
The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the global organic fertilizers market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
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