Global organic fertilizer market will exceed US$11 billion by 2022
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- May 13,2018
According to the latest report of the industry think tank Marketsand Markets (M&M), from 2017, the global organic fertilizer market will grow at a rapid rate of 12.08% CAGR, and it is expected to reach USD 11.16 billion by 2022. The increase in the global organic cultivation area and the progress in the organic fertilizer production process are the main reasons for the development of the organic fertilizer market.
From the source, in 2016, animal organic fertilizer accounted for the largest market share. Animal organic fertilizer can be further subdivided into manure, blood meal, feather meal, fish meal and other by-products, of which blood meal dominates the animal organic fertilizer market. Feather powder is a very good source of phosphorus and calcium, which can enhance the healthy development of roots and the growth of flowers, which is also one of the main factors in the development of feather powder organic fertilizer in the world.
From a type perspective, organic fertilizers have the fastest market growth in vegetables and fruits. Organic vegetables and fruits play a vital role in the daily diet of human beings and are not easily replaced. Compared with cereals and oil crops, vegetables and fruits are also perishable in nature. However, the developed cold chain and refrigerated transport equipment has promoted the trade and demand for organic vegetables and fruits, which in turn has promoted the growth of organic fertilizers.
During the expected period, liquid organic fertilizer will grow faster. Compared with dry fertilizer, liquid fertilizer has more economical and practical effects in fertilizer compounding, and the use of liquid fertilizer also saves time and labor. These advantages make liquid fertilizers most commonly used by farmers.
The demand for safe food in the Asia-Pacific region, increased R&D investment, and changes in agricultural practices have driven the organic fertilizer market in the region. Agriculture is the main industry in the region and has more than 26 million hectares of organic planting area. This demand for high quality and safe organic foods has promoted the rapid development of organic fertilizers in the region.