According to P&S Intelligence, the organic fertilizers market stood at $4,512.1 million in 2019 and it is expected to reach $14,746.2 million by 2030, accelerating at a CAGR of 14.1% during the forecast period (2020–2030). The market growth will depend on factors such as rising acreage and units of organically farmed areas, increasing support from governments in terms of initiatives and policies, and surging downstream demand for organic drinks and food.
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Escalating number and area of organic farmlands act as a catalyst for the organic fertilizers market growth. In recent years, there has been an exponential rise in size of organic farmlands, due the spurring downstream demand for organic products, on account of low chemical leaching during their cultivation and their health benefits. These factors eventually result in premium pricing and higher margins. Further, the increasing investments by private and public players in the organic food supply chain will lead to the high demand for organic fertilizers.
Globally, Europe led the organic fertilizers market during the historical period (2015–2019). This is due to the fact that Europe has the largest area of organic arable land in the world and has been observing an increase in organic farming across numerous countries, including Italy, Germany, Spain, and Italy. Additionally, introduction and ratification of policies and legislations like the Common Agricultural Policy (CAP) and the EU Regulation 2018/848, high per capita spending, organized supply chain for the production-packaging-distribution model, and downstream retail demand for organic goods are fueling the regional market growth.
Thus, the expansion of organic farmland areas and the high demand for healthy food items, primarily in Europe and North America, will propel the market growth in the future.
Read More: https://www.psmarketresearch.com/market-analysis/organic-fertilizers-market-report
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