The value of the organic fertilizers market was USD 5,864 million in 2022, and it is will advance at a CAGR of 12.1% in the years to come, to reach USD 14,622 million by 2030, as per a market research company, P&S Intelligence.
Cereals & grains held the largest share of 62.8%, and it will maintain its position in the coming years. This growth has a lot to do with, such agrochemicals are generally used in turf & ornamental plants, cereals & grains, fruits & vegetables, oilseeds & pulses, and other kinds of crops.
Moreover, the requirement for cereals & grains is also increasing since they can be effortlessly produced and gives high yields.The animal-based category had the largest share of 63.2% and the trend will be the same in the years to come. The necessity for animal-sourced fertilizers has grown quickly. The growing importance of animal-based fertilizers is the main factor pushing the expansion of the industry.
Furthermore, fertilizers produced from bone meal, animal waste, and blood meal, are rich in phosphorous, potassium, and nitrogen, which are the main nutrients desirable by plants. So, because of above benefits of animal-based fertilizers, their use is quickly surging.
The solid category had the larger market share in the recent past, and it will continue its dominance in the future. This is because of the greater ease of usage of granular-form fertilizers than the liquid ones. The solid form of fertilizers is generally used for lawn and garden uses, because of its ongoing effect and easy obtainability of raw material.
APAC had a significant growth in the organic fertilizers market, and will remain the same in the years to come. This growth is mostly credited to the increasing health consciousness amongst the broad cultivation land, customers, increasing population & growth of per capita income, and improved mechanization and irrigation competences.
No comments:
Post a Comment