The agriculture industry is taking a U-turn to make a move away from less-convenient and less-productive traditional farming methods to adopt new ones, which are much more efficient and productive. Organic fertilizers are gaining high demand with the rising awareness about their potential benefits over synthetic fertilizers, which contributed to the harmful emissions of nitrogen in the air.
Furthermore, farmers and other stakeholders in the agriculture industry are considering not only the agricultural benefits of organic fertilizers but also the environmental advantages of incorporating them in agricultural practices. Growing awareness about the harmful impact of synthetic fertilizers on the environment is expected to further bolster demand for organic fertilizers in the coming years.
Here are four important factors that are instrumental in redefining the potential growth prospects of the organic fertilizers market.
Organic Fertilizers Sales Soring in European Countries as Customers make Ecofriendly Decisions
Increasing environmental awareness among consumers as well as stakeholders operating across a diverse range of industries is bringing in a significant change in the factors influencing manufacturing decisions and strategies. Consequently, a mounting number of stakeholders in Europe’s agriculture industry are spurning fertilizers manufactured using chemicals in order to make a move towards organic fertilizers. Furthermore, the awareness about the potential benefits of urea and organic fertilizers in improving the yield quality is significantly higher in European countries, as compared to other geographic regions. This is creating a positive outlook of future growth parameters for the global market for organic fertilizers.
Plant-based and Animal-based Organic Fertilizers Growing High in Demand
Leading players in the organic fertilizers market are exploring the potential for organic fertilizers manufactured using innovative ingredients, both plant and animal-based, to further expand their sales opportunities. Market leaders are investing in research & development to diversify their product range and gain a competitive edge in the organic fertilizers landscape. Currently, the demand for plant-based organic fertilizers is relatively higher than that for animal-based organic fertilizers. However, the picture is likely to change with ongoing R&D activities in the market.
Favorable Regulatory Environment and Government Initiatives Foster Market Growth
In December 2018, the European Commission (EC) shed light on the agreement on the Fertilising Products Regulation, which imposes strict regulations on the use of toxic contaminants in fertilizers and also supports the use of innovative organic fertilizers. The agreement highlights new rules set across the European Union (EU) to ease the access of organic and waste-based fertilizers to the EU single market. The demand for organic fertilizers is growing not only in Europe but also in other regions, such as Africa. The governing bodies in many African countries are encouraging the use of organic fertilizers through different regulations and awareness campaigns, which is likely to support the growth of the market in the region.
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Liquid Organic Fertilizers witness more Demand than their Solid Variants
In the past five years, the global demand for liquid organic fertilizers has increased significantly, and it is primarily attributed to their high solubility in water and plants can easily absorb nutrients dissolved in these fertilizers. Abundant micro and macronutrients are present in all types of organic fertilizers, however those in the form of liquid expedite the absorption of nutrients, and eventually, the growth of plants. With a significant revenue share of the market, liquid organic fertilizers are witnessing incremental demand in the global market, and the trend is likely to continue to grow in the coming years.