Insights of Organic Fertilizers Market in Global Industry Development
Favorable growth of organic agricultural practices all over the world coupled with regional government initiatives to promote organic farming is bolstering growth of global organic fertilizers market. According to Research Institute of Organic Agriculture (FiBL) report, in 2015, over 50.9 million hectares of land is occupied by organic agricultural activities. The regions with the largest areas of organic agricultural land are Oceania (22.8 million hectares, which is almost 45% of the world’s organic agricultural land) and Europe (12.7 million hectares, 25 %). The countries with the most organic agricultural land are Australia (22.7 million hectares), Argentina (3.1 million hectares), and the U.S (2 million hectares).
Request Sample Copy of Research [email protected] https://www.coherentmarketinsights.com/insight/request-sample/377
Increasing inclination of consumers towards organic food products is propelling demand for organic fertilizers in organic farming. According to reports published by the Food and Drug Administration of United States, 6 out of 10 people in U.S. believe that organic foods are better for their health. Also, according to the U.S Department of Agriculture, in 2016, around 4% of total food sales in the U.S. were accounted by organic products. The organic retail sales in Europe were accounted for US$ 30.85 billion in 2014, as estimated by The International Federation of Organic Agriculture Movements. Therefore, favorable growth of organic food and beverage industry fuelled by increasing demand for organic food and beverage products provides an immense opportunity for organic fertilizers market growth. According to Research Institute of Organic Agriculture (FiBL) report, total organic product sales was US$ 43.3 billion by the end of 2015, up 11 percent from the 2014 record level and according to the Organic Trade Association the overall food market’s growth rate of 3%. Of the US$ 43.3 in total organic sales, US$ 39.7 were organic food sales.
Among functionality, nitrogen fixing segment generated highest revenue in global organic fertilizers market in 2016. The segment is projected to lead the market over the forecast period due to increasing demand for organic fertilizers in order to improve productivity and sustainability of soil with the help of nitrogen fixation process.
Europe held largest market share in global organic fertilizers market in 2016 and the region is projected to maintain its dominance throughout the forecast period. In Europe, U.K., Germany Spain, Italy are the most lucrative markets for organic fertilizers. According to Research Institute of Organic Agriculture (FIBL), the total area under organic production in Europe increased from 0.1 million hectares in 1985 to 13 million hectares in 2015. This can be attributed to an increased demand for organic food and beverages in the region.
Request for Customization of [email protected] https://www.coherentmarketinsights.com/insight/request-customization/377
According to Coherent Market Insights analysis, organic fertilizers market was valued at US$ 6.15 Bn in 2016 and is expected to reach US$ 12.26 Bn by 2025 at a CAGR of 8.27% over the forecast period.
You may be interested
Medical Cannabis Market | Global Trends, and Forecast to 2025Albert R - April 21, 2018
Increasing approval of medicinal cannabis products and growing research and development activities in the medical cannabis market are expected to support the growth of the market. For…
Familial Amyloid Cardiomyopathy Treatment Market-Moving Towards a Brighter FutureAlbert R - April 21, 2018
Aggregation and deposition of mutant and wild-type transthyretin protein (TTR) in heart results in familial amyloid cardiomyopathy, which typically occur after age of 60. Familial amyloid cardiomyopathy…
3D Cell Culture Market To Witness Robust Expansion by 2024Albert R - April 21, 2018
3D cell culture is group of biological cells that are allowed to grow in artificial media in all three dimensions. It is used in drug discovery and…