Market Introduction
Organic fertilizers are generally obtained from natural sources such as human excreta, animal matter, vegetable matter, manure, etc. They are the vital elements that help to promote the growth of micro-organisms present in the soil. The nutritional content of the organic fertilizers depends upon their composition. Organic fertilizers are food safe and are also easy to use when compared to synthetic fertilizers. Synthetic fertilizers cause-specific harmful effects on the environment and the living creatures, due to which the companies have developed organic fertilizers to reduce the damage.
Market Overview and Dynamics
The organic fertilizers market in SAM is expected to reach US$ 1,453.15 million by 2027 from US$ 619.07 million in 2018 and is expected to grow at a CAGR of 10.0% from 2019 to 2027. The increase in organic farming is one of the crucial drivers for the organic fertilizers market. Today, a large portion of the region's population lives in urban areas, particularly in the developed economies. This is due to the region's economic development, resulting in an increased per capita income. The rising urbanization has surged the demand for more healthy food products like organic food and beverages. Thus, the demand for organic fertilizer is increasing with the growing focus on sustainability and organic farming.
Moreover, growing health awareness among consumers is driving the demand for organic products. The consumer considers organic products as safe and healthy. Therefore, there has been a significant increase in organic farming across SAM. Thus, the growth of organic agriculture is expected to propel the organic fertilizers market. Also, evolving agricultural practices, new technologies, high investments in research & development, and increasing health-consciousness are some of the essential factors that are anticipated to boost the organic fertilizers market.
However, restraints such as stringent regulations related to organic fertilizers are likely to affect the market's growth in the forecast period. Also, COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. In the SAM region, Brazil has the highest COVID-19 cases, followed by the countries Ecuador, Chile, Peru, and Argentina. South American government has taken various actions to protect their citizens and contain COVID-19’s spread. It is predicted that South America will face lower export revenues, both from the drop in commodity prices and reduction in export volumes, especially to China, Europe, and the United States, which are important trade partners. Containment measures in several South American countries will reduce economic activity in the manufacturing sectors for at least the next quarter, with a rebound once the epidemic is contained. This is anticipated to impact organic fertilizers market growth in the coming period negatively.
Key Market Segments
The SAM Organic Fertilizers market is segmented into source, crop type, and form. Based on source, the organic fertilizers market is bifurcated into plant, animal and mineral. The animal segment dominated the SAM organic fertilizers market during the forecast period of 2019-2027. The organic fertilizers market based on crop type has been segmented into cereals and grains, oilseed and pulses, fruits and vegetables and others. The cereals and grains segment dominated the SAM organic fertilizers market, whereas the market for fruits and vegetables is expected to grow at a higher CAGR during the forecast period. Based on form the organic fertilizers market is sub-segmented into dry and liquid. The dry form segment held the largest share during the forecast period.
Major Sources and Companies Listed
A few major primary and secondary sources referred to for preparing this report on the organic fertilizers market in SAM are company websites, annual reports, financial reports, national government documents, and statistical database, among others. Major companies listed in the report are AgroCare Canada; Biostar Renewables, LLC; Italpollina SpA; ScottsMiracle-Gro; and Suståne Natural Fertilizer, Inc. among others.
Reasons to buy report
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- Helps to take knowledgeable business decisions from perceptive and comprehensive analysis of market performance of various segment form SAM Organic fertilizers Market
- Obtain market revenue forecast for market by various segments from 2019-2027 in SAM region.
SAM Organic fertilizers Market Segmentation
?????SAM Organic Fertilizers Market – By Source
- Plant
- Animal
- Mineral
SAM Organic Fertilizers Market – By Crop Type
- Cereals and Grains
- Oilseed and Pulses
- Fruits and Vegetables
- Others
SAM Organic Fertilizers Market – By Form
- Dry
- Liquid
SAM Organic Fertilizers Market – By Country
- Brazil
- Argentina
- Rest of SAM
Company Profiles
- AgroCare Canada
- Biostar Renewables, LLC
- Italpollina SpA
- ScottsMiracle-Gro
- Suståne Natural Fertilizer, Inc.