Asia-Pacific organic fertiliser market to see a boost

organic fertiliserThe biological organic fertiliser market is projected to grow at a CAGR of 13.3 per cent during the period from 2019-2024, according to ResearchAndMarkets

The increased practice of organic farming is one of the major factors behind the growth of the biological organic fertiliser market. The emphasis on sustainable farming and government support to manufacturers are two other factors that are augmenting the growth of the market.

According to the Organic Trade Association, approximately 82 per cent of households in the United States purchase organic food. The organic food market in India has been registering a CAGR of 25 per cent. As per Statista, it is anticipated to reach US$1.36bn by 2020.

The rise in demand for organic products is booming, not only due to an increase in conscientious consumers, but also due to increasing incomes, along with improved farming practices that make organic yields more robust. As a result, the increasing demand for organic food, worldwide, has increased the area under organic farming. Increased land under organic cultivation will drive the organic fertiliser market during the forecast period.

Asia-Pacific dominates the market

Asia-Pacific’s organic fertilisers market is divided into two major segments, namely organic residue-based fertilisers and microorganism (biofertilisers), depending on the source of nutrients and raw materials. More than half of the market share is covered by microorganism-based organic fertilisers.

The consumption of organic fertilisers in Asia-Pacific is expected to increase with rising awareness among the farmers about the benefits of bio-based and organic residue-based fertilisers. The regional demand is concentrated among major agriculture-based countries like China, India and Vietnam, while China and India are leading market developments.

The organic fertiliser market in Asia-Pacific is the fastest growing among all the other regions. The major players in the market are focused on new product launches to cater to a wider consumer base and expand market share in the local market.

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