A Kings Research study has predicted that the global organic-fertilizer sector will grow at a compound annual growth rate (CAGR) of 1.31% to generate revenue worth $27.48 billion by 2030. Organic fertilizers are developed using organic sources such as cattle manure, organic compost, domestic sewage and poultry droppings.
Although organic fertilizers typically have a lower nitrogen, potassium and phosphorous profile compared to synthetic fertilizers, they can provide plants with nutrients for a much longer period. Additionally, organic fertilizers are cheap and can stimulate healthy root development; improve soil texture, aeration, and structure; and increase water-retention abilities.
Unlike chemical or synthetic fertilizers, which regularly cause pollution and can reduce soil fertility by changing its nature and harming soil microbes, organic fertilizers enrich the soil and ensure it is fertile and productive over the long-term.
The global market for organic fertilizers was around $9.6 billion in 2022, and Kings Research expects it to grow rapidly over the next six years. With the world going through a fertilizer crisis that threatened food supplies in several countries, organic fertilizers have been gaining popularity due to their low costs and significantly high return on investment.
While the global agriculture sector has relied on chemical fertilizers quite heavily to increase crop and soil production, organic fertilizer use is on the rise as people become increasingly aware of the public-health and environmental drawbacks of relying entirely on synthetic fertilizers for food production. Experts predict that people’s increasing readiness to pay extra for organic foods could boost the uptake of these fertilizers through the decade.
Increasing demand for organic foods from major markets such as North America and Europe will be instrumental in bolstering the adoption of organic fertilizers, particularly in the Asia-Pacific where these two markets import their food. The European Union has already earmarked 30% of its annual budget for the Common Agricultural Policy (CAP) program for rural growth to support and promote organic farming.
Rural populations may be especially receptive to organic farming practices because they don’t require the advanced agricultural methods used with chemical fertilizers while also being significantly cheaper. Organic fertilizers have the potential to essentially revolutionize the global agriculture industry if they are applied correctly. They could significantly limit soil damage during growing seasons and preserve the soil’s life-giving abilities, allowing farmers to grow healthier organic food for much longer without compromising the soil’s fertility.
For those who aren’t yet convinced about the economy of using organic fertilizers, commercial synthetic plant nutrients from enterprises such as Compass Minerals International Inc. (NYSE: CMP) that are readily available around the world may suffice.
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