The
organic fertilizers market is expected to grow by USD
9.09 billion during 2020-2024, expanding at a CAGR of over 13%. The report also
provides the market impact and new opportunities created due to the COVID-19
pandemic. We expect the impact to be significant in the first quarter but
gradually lessen in subsequent quarters – with a limited impact on the
full-year economic growth.
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Organic Fertilizers Market: Stringent regulations and policies to
drive growth
The excessive use of inorganic fertilizers can have a severe and
irreversible impact on the natural environment. Hence, government bodies across
the world are introducing several regulations and guidelines to reduce the use
of inorganic fertilizers. This is compelling fertilizer manufacturers to
produce environmentally friendly products such as organic fertilizers, which is
driving the growth of the market.
As per Technavio, the easy recyclability of organic fertilizers
will have a positive impact on the market and contribute to its growth
significantly over the forecast period. This research report also analyzes
other significant trends and market drivers that will influence market growth
over 2020-2024.
Organic Fertilizers Market: Easy Recyclability
Organic fertilizers get easily decomposed in the soil and do not
leave toxic residues even with excessive use over a long period. They decompose
by releasing carbon dioxide, methane, and water, thereby enriching the
nutritive quality of the soil. They are also easily compostable and prevent
environmental hazards such as eutrophication and agricultural run-off to a
greater extent. Thus, the easy-recyclability of organic fertilizers will be
crucial in increasing their demand during the forecast period.
Organic Fertilizers Market: Segmentation Analysis
This market research report segments the organic fertilizers market by
application (Fruits and vegetables, Cereals and grains, Oilseeds and pulses,
and Others) and geography (Europe, APAC, North America, South America, and
MEA).
The fruits and vegetables segment led the global organic
fertilizers market in 2019. The segment is mainly driven by the increasing
consumption of fruits and vegetables. Besides, the rising consumer acceptance
for organically grown fruits and vegetables is contributing to the growth of
the segment.
The European region led the organic fertilizers market in 2019,
followed by APAC, North America, South America, and MEA respectively. During
the forecast period, APAC is expected to register the highest incremental
growth due to factors such as reducing arable land, rising population, and
improved farming practices in the region.
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