The global organic fertilizers market is projected to exhibit healthy growth in coming years, according to a study by Transparency Market Research (TMR). The market features a fragmented landscape at present. The organic fertilizers industry comprises of several players, including large-, medium, and small-scale vendors. Vigorous rivalry exists in the business landscape, on account of which vendors are taking efforts to gain better market share. The top vendors in the global organic fertilizers market currently account for 40% of the total market share. TMR notes that small-and medium-sized vendors are especially influential in regional and local markets. This further leads to development of the global organic fertilizers market to a large extent.
Vendors in the global organic fertilizers market are leveraging key growth strategies in order to gain momentum in the industry. The launch of new products, and expansion to regional markets are leading schemes adopted by vendors operating in the global organic fertilizers market. For instance, a recent product from Lystek, based on biosolids and organic solids, crossed sales of a million ton in 2019. The escalating sales of novel products is expected to offer lucrative opportunity to vendors in the global organic fertilizers market.
Green Farming Practices to Bolster Organic Fertilizers Market
The term “organic” has become a resolute trend of modern agriculture owing to a rise in consumption of green products and demand for pollution-free agricultural end-products, creating a boom on the global fertilizer markets. The demand for organic fertilizers is expected to increase quickly in organic agriculture and to increase the demand for organic food. The term’ organic’ has become an irresistible trend of modern agriculture with increasing demand for Green goods and pollution-free agricultural products, and creates an excitement in the global fertilizers market. Furthermore, the growing use of organic fertilizers in animals and plants promotes earthworms ‘ growth and also contributes to other microbiological activities that are vital to plant growth. The demand for organic fertilizers is expected to rise rapidly with increased demand for organic foodstuff.