Increasing Area for Organic farming Driving Organic Fertilizers Industryby Vijay K. Web Marketing
With the increase in the area under organic farming, the global organic fertilizers market size is expected to grow to $14,746.2 million by 2030, from $4,512.1 million in 2019, at a 14.1% CAGR between 2020 and 2030. The demand for organic products is rising, as they are claimed to have several health benefits and lower levels of chemicals. In addition, private and public investments in the field are also rising, which is augmenting the number of farmlands where crops are grown organically.
Due to the COVID-19 situation, the world’s focus has shifted from industrial, retail, and commercial activities to the healthcare sector, thus hampering the production and supply of organic fertilizers. This is having a negative effect on the organic fertilizers market, as the shipments of such products to Europe and North America have stopped to a significant extent. However, the demand for organic products has risen sharply since the outbreak, as people are preferring them due to the lower levels of contaminants they have, thereby driving the requirement for organic fertilizers.
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The cereals and grains category, under the crop type segment, held the largest share in the organic fertilizers market during 2015–2019, as a large chunk of the area under organic farming is used for growing such crops, primarily oats, wheat, barley, and rice. This resulted in the high-volume consumption of organic fertilizers for the cultivation of grains and cereals.
In order to increase their supply, players in the organic fertilizers market are rapidly expanding their production capacities.
For instance, BioStar Organics commissioned its Organic Material Review Institute (OMRI)-listed production plant in Othello, Washington, U.S., in March 2019. Together with its facility in Sheboygan Falls, Wisconsin, the company now produces 500,000 gallons of the SuperSix organic liquid fertilizer.
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The most prominent companies operating in the global organic fertilizers market are Coromandel International Limited, The Scotts Miracle-Gro Company, Fertikel NV, Italpollina S.p.a., Midwestern BioAg, Fertoz Limited, Perfect Blend LLC, Multiplex Group of Companies, BioStar Renewables LLC, Walt’s Organic Fertilizer Co., Israel Chemicals Limited, Biolchim SPA, Sustane Natural Fertilizer Inc., Agrocare Canada Inc., and Nature Safe.
Created on Jun 10th 2021 07:04. Viewed 47 times.
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