Why is the Demand for Organic Fertilizers Higher in North America and Europe?
According to P&S Intelligence, from $4,512.1 million in 2019, the global organic fertilizers market is predicted to attain a $14,746.2 million value by 2030, witnessing a strong growth of 14.1% CAGR during the forecast period (2020–2030). The market has been advancing due to the surging consumption of organic food & beverages in European and North American countries and rising acreage and number of organic farmlands across the globe.
When crop type is taken into consideration, the organic fertilizers market is divided into fruits & vegetables, oilseeds & pulses, and cereals & grains. Out of these the cereals & grains division dominated the market, accounting for a share of more than 60.0% in 2019. About 4.8 million hectares was allotted for the production of cereals and grains in 2019. A considerable portion of this land was employed for producing barley, oats, rice, and wheat, as they are in high demand.
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On the basis of source, the market is categorized into plant, animal, and others, among which, the animal category accounted for the largest share of the market in the past. The category is further projected to hold the major share of the market during the forecast period due to the rising preference among customers for animal-based organic fertilizers. Fertilizers derived from bone meal, blood meal, and animal waste are rich in phosphorous, nitrogen, and potassium, which are important for the growth of the plant.
Geographically, Europe dominated the organic fertilizers market historically (2015–2019). The largest tract of organic arable land in all world is present in Europe. This arable land has further been registering a rise in organic cultivation in many countries such as France, Germany, Italy, and Spain. Other than this, Latin American and African countries are also expected to register considerable demand for organic fertilizers in the years to come, owing to the increasing private and government investments.
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