The organic fertilizers market is growing due to the increase in the area under organic farming and rise in the demand for organic food products. Hence, the revenue generated from the sale of such products will increase from $4,512.1 million in 2019 to$14,746.2 million by 2030, at a healthy 14.1% CAGR during 2020–2030 (forecast period). As is clear by their name, such products are naturally occurring and produced from human excreta, animal excreta (manure), and vegetable matter (compost and crop residue).
Under the crop type segment, the categories of the market are oilseeds & pulses, cereals & grains, fruits & vegetables, and others. Among these, the cereals & grains category generated the highest revenue in the organic fertilizers market during the historical period (2015–2019). In 2019, over 4.8 million hectares of organic farming area was being used for the cultivation of cereals and grains, especially oats, rice, wheat, and barley, which are the basic food requirements of humans.
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The major reason behind the advance of the organic fertilizers market is the increase in the land area in which organic farming is being practiced. This is due to the increasing investments in the field and growing demand for organic food products on account of their various benefits for humans. Moreover, even the usage of organic fertilizers only benefits the soil upon leeching, unlike chemical-based fertilizers, which pollute the soil and destroy its nutrient content. Furthermore, high prices are charged for organically grown products, which is another reason for farmers to cheer.
The Rest of the World (RoW) region will grow at the highest rate in the market during the forecast period. This is ascribed to the increasing consumption of such products in Latin American (LATAM) countries for growing coffee, cocoa, quinoa, bananas, and sugarcane. In the same vein, in Africa, organic farming is being adopted for the cultivation of oilseeds, coffee, textile crops, olives, nuts, and cocoa. The increasing interest of the public and government organizations in organic farming is driving the demand for organic fertilizers in RoW.
Hence, as the dangers of chemical fertilizers on the soil and crop quality become more evident, the demand for organic fertilizers will increase.