North America Organic Fertilizers Market: Introduction
In terms of value, the organic fertilizers market in North America is anticipated to expand at a CAGR of ~7% from 2020 to 2030. Constant growth in the food & beverages industry in North America has augmented the demand for organic food products in the region. Rise in awareness about organic food products and their health benefits is a key factor driving the organic food industry in the region. This, in turn, is boosting organic farming activities, thereby augmenting the consumption of organic fertilizers in North America. North America has abundant availability of raw materials that are used in the manufacture of organic fertilizers. These include plant waste, animal farming waste, processing industry waste, and resident sanitary waste. Production of organic fertilizers in North America is estimated to increase significantly during the forecast period owing to the large-scale supply of organic wastes throughout the region.
Request Brochure:
https://www.transparencymarketresearch.com/sample/sample.php?flag=B&rep_id=77733
Long Periods for End Results and High Overall Cost of Organic Fertilizers to Hamper Market
Organic fertilizers are slow release fertilizers. The time required to get the end results with organic fertilizers is much longer than the time required with chemical fertilizers. Organic fertilizers cannot be employed in applications requiring immediate results. These fertilizers sometimes carry the risk of toxic overdose of chemicals. Organic fertilizers need to be broken down chemically to release nutrients in or der to get absorbed by crops. Some organic fertilizers with fresh manure can even carry parasites that can harm the crops. Essential nutrients such as nitrogen, phosphorous, and potassium are present in unequal quantities in organic fertilizers. As a result, despite being cheaper in per unit cost than chemical fertilizers, the overall cost of using organic fertilizers proves to be costly, as more quantities of fertilizer are required to meet the specific nutrient requirement.
The ongoing COVID-19 pandemic has adversely impacted the economy of North America. The epidemic that originated in China is spreading at an alarming pace in countries in North America, especially the U.S. According to The National Association of Printing Ink Manufacturers (NAPIM), the COVID-19 pandemic has adversely affected the supply of raw materials used in the manufacture of organic fertilizers. Industrial shutdown in the U.S. has not only negatively impacted the production of organic fertilizers, but has also hampered the sales of fertilizer products in the country. This is likely to hinder the demand for organic fertilizers in North America in the next few years.
More Trending Reports by TMR:
Nitrogen Fertilizers to Dominate North America Organic Fertilizers Market
In terms of product type, the organic fertilizers market in North America has been divided into nitrogen fertilizers, phosphate fertilizers, potassium fertilizers, ferrous fertilizers, zinc fertilizers, and others. In terms of revenue, the nitrogen fertilizers segment dominated the organic fertilizers market in North America in 2019. The phosphate fertilizers segment also held key share of the organic fertilizers market in North America in 2019. Demand for phosphate fertilizers is expected to increase substantially in the region by 2030.
Plant Segment to Offer Lucrative Opportunities
In terms of source, the organic fertilizers market in North America has been classified into plant, animal, mineral, and others. The animal segment dominated the organic fertilizers market in the region in terms of revenue in 2019. The plant segment is expected to be highly lucrative from 2020 to 2030. Plant-based organic fertilizers are derived from various materials including cottonseed meal, molasses, legume cover crops, green manure cover crops, kelp seaweed, alfalfa meal, and compost tea. Key nutrients available in plant-based organic fertilizers include nitrogen, phosphorous, potassium, trace minerals, and micronutrients. Plant-based fertilizers improve moisture retention in soils.
Fruits & Vegetables to be Dominant Crop Type
Based on crop type, the organic fertilizers market in North America has been segregated into cereals & grains, oilseeds & pulses, fruits & vegetables, landscaping/gardens, and others. The fruits & vegetables segment held major share of the organic fertilizers market in North America in 2019. It is anticipated to continue its dominance in the market from 2020 to 2030. Organic fertilizers are widely used in the production of organic fruits and vegetables. Rise in demand for organic fruits and vegetables is driving the segment.
REQUEST FOR COVID19 IMPACT ANALYSIS:
https://www.transparencymarketresearch.com/sample/sample.php?flag=covid19&rep_id=77733
U.S. to be Lucrative Country of North America Organic Fertilizers Market
Based on country, the organic fertilizers market in North America has been bifurcated into the U.S. and Canada. The organic fertilizers market in the U.S. is projected to expand at a CAGR of more than 7% during the forecast period. The demand for organic fertilizers in the U.S. is driven by increase in demand for organic food in the country. The U.S. is focusing on optimizing the efficiency of raw materials and energy. The usage of plant & animal based raw materials has been rising in the manufacture of organic fertilizers in the country. Moreover, the implementation of stringent regulations related to the usage of synthetic fertilizers is also driving the organic fertilizers market in North America.
Competition Landscape
The organic fertilizers market in North America was fragmented with the presence of small and medium scale fertilizer manufacturers in 2019. The U.S. has been a lucrative country of the organic fertilizers market in North America since the last few years. Leading players have taken initiatives to expand their presence through acquisitions, increase of production capacity, and strategic partnerships. In May 2019, Italpollina, a U.S.-based producer of organic fertilizers, acquired Horticultural Alliance Inc.
In March 2019, Fertoz, an organic phosphate development company, announced that it had completed the distribution agreement with Federated Co-operatives Ltd (FCL). In 2017, Valencia Ventures Inc. signed an agreement to acquire EarthRenew, a Canada-based organic fertilizer company.
