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Description
Organic Fertilizer Market size was valued at USD 10,213.4 million in 2021, growing at a 12.6% CAGR from 2022 to 2028. Organic fertilizers are carbon-based fertilizers that are produced naturally. Organic Fertilizers are added to the soil or applied to plants to aid in their growth by giving nutrients. Organic fertilizers break down fast and have no adverse impacts on the surface or groundwater, making them safer for the environment, animals, and soil that come into touch with them. These fertilizers prolong soil structure, enhance soil retention of nutrients and water, and have a long shelf life. Since they are non-toxic, slow-releasing fertilizers that do not leave any residues in the food, they are chosen for producing agricultural output that is residue-free. Due to factors such as the growing need to raise agricultural production and growing knowledge of the negative impacts of chemical inputs and the beneficial effects of organic fertilizers, the organic fertilizer market is anticipated to experience considerable expansion over the forecast period. However, the growing reliance on inorganic farming methods is one of the main issues limiting the growth of the organic fertilizers market. Moreover, farmers are increasingly dependent on the use of synthetic fertilizers to maximize the productivity of the farmed land in response to the rising demand for food. Of all the emerging nations, China uses synthetic fertilizers more frequently and more rapidly than the average country, going from around 377 kg per hectare in 2002 from about 565 kg per hectare in 2014.
Recent Market Developments:
In September 2021: Yara Suomi Oy (“Yara”) announced the acquisition of Ecolan Oy, a Finnish producer of recycled fertilizers. This is Yara’s first acquisition in the organic fertilizer segment which reflects the commitment to play a bigger role in organic farming.
