There has been a considerable depletion in the quality of soil across the globe due to heavy usage of chemical pesticide and composts. To match up with the increasing demand for tenable agricultural methods, government bodies across the globe are backing farmers to make their lands more organic. Some of the key companies operating in the global organic fertilizers market include names such as ILSA SpA, Italpollina SpA, Natural Fertilizers Inc., Bio Star Renewables, California Organic Fertilizers Inc., True Organic Products Inc., Purely Organics LLC, The Fertell Company, Qingado Sonef Chemical Co. Ltd., and Pupuk Kaltim among others. These companies are constantly trying to gain a significant advantage over each other in the global market and are thus concentrating on offering better services and products to the customers. The companies are also actively involved in strategic business activities such as merger, acquisitions, and joint ventures to enhance their market presence.
The overall demand for organic fertilizers was around 17 million tons in the year 2016. According to Persistence Market Research, the overall market valuation of the global organic fertilizers market is expected to reach a figure worth US$10.23 bn over the course of the given forecast period of 2017 to 2025. This growth is expected to be achieved at an impressive CAGR of 7.0% over the same period of forecast and will rise from the initial market valuation of worth US$5.57 bn in the year 2016. In terms of sources, fertilizers from animal sources such as bone meal, fish meal, chicken litter, and blood meal among are projected to account for majority of market share of over 50% and are expected to be valued at over US$3.3 bn by the fall of 2017.
Government Backing and Subsidies to Drive Overall Growth of Global Organic Fertilizers Market : The governments across the globe are increasingly urging farmers to convert their land into more organic field. Due to the heavy degradation of soil caused by excessive use of chemical fertilizer and pesticides, the authorities are offering numerous subsidies and rewards for using organic fertilizers and products to sustain the soil quality. There are some challenges though with respect to premium prices, certification prices of the organic substitutes and lower production. However, the governments of both established as well as emerging economies have formulated numerous strong governmental schemes and projects such as market investments, research support, targeted subsidies, and capacity expansion to support organic agriculture. This is expected to considerably boost the development of the global market for organic fertilizers.
Increasing Awareness among Consumers to Create Lucrative Opportunities for Market Growth : In the past few years, these has also been an increasing awareness about environmental and health issues. The demand for organic products has grown significantly, especially in the regions such as the U.S. and EU over the last few years. Customers are becoming increasingly aware about the safety and quality of the food they consume and are concerned about the health hazards of pesticides, drugs, and fertilizers. Organic culture offers a healthy as well as a viable solution to these problems and thus, will create ample opportunities for global market for organic fertilizers to flourish.
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