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. 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.
Moreover, the expansion of the retail market for organic food and beverages in Europe and North America will give an impetus to the market for organic fertilizers in the coming years. According to the International Federation of Organic Agriculture Movement (IFOAM), the demand for these items was primarily concentrated in these regions, in 2019. The U.S., France, and Germany emerged as the major consumers for these food items, due to the high per capita income in such countries.
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The source segment of the market is divided into plant, animal, and others. Among these, the animal division held the largest market share in 2019 and it is also projected to retain its dominance throughout the forecast period. The dominance can be owed to the rising preference for animal-based fertilizers among end users, as these are rich in phosphorous, potassium, and nitrogen. These minerals are primary nutrients that facilitate plant growth. These fertilizers are derived from bone meal, blood meal, and animal waste, which act as source for such minerals.
On the other hand, the Rest of the World (RoW) organic fertilizers market is expected to register the fastest growth during the forecast period. In RoW, the African and Latin American (LATAM) countries will be the major contributors to this market in the coming years. This can be ascribed to the amplifying demand for organic fertilizers among LATAM countries for the cultivation of sugarcane, coffee, cocoa, quinoa, and bananas. In the African region, these fertilizers will be employed for the production of cocoa, oilseeds, coffee, olives, textile crops, and nuts.
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.
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