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GROWING ADOPTION OF ORGANIC FERTILIZERS IN EMERGING ECONOMIES IS EXPECTED TO OFFER GROWTH OPPORTUNITIES FOR THE PLAYERS OPERATING IN THE ORGANIC FERTILIZERS MARKET

   September 9, 2022

Asia-Pacific accounts for around 30% of the total land on earth and around 60% of the global population (Source: World Population Review). The high agricultural diversity in Asia-Pacific and large arable lands hold immense growth opportunities for the players operating in the region's organic fertilizers market.

The Research Institute of Organic Agriculture (FiBL) stated that Asia held almost 6.1 million hectares of organic area in 2020, an increase of 3.4% over 2019. Thus, organic cultivation over such large areas indicates lucrative opportunities for Asian-Pacific organic fertilizer market stakeholders.

Moreover, consumers in countries such as China, Japan, and India are gradually increasing their adoption of organic products due to rising awareness regarding the health & environmental hazards caused by chemical fertilizers. In China, the use of organic fertilizers is being promoted to reduce the use of chemical fertilizers in the country as a part of zeroing their use of chemical fertilizers and pesticides. In half of China's regions, the average nitrogen fertilizer use exceeds the internationally accepted limit of 225 kg per hectare. Such excessive use of chemical fertilizers has polluted the water bodies, contaminated the soil with heavy metals, and led to high chemical residues in food, compromising public health and agricultural productivity. Therefore, it is necessary to replace chemical fertilizers with safer alternatives. In 2020, China had around 2.4 million hectares of organic area, an increase of 9.1% over 2019 (Source: FiBL & IFOAM–Organics International, 2022). Therefore, government initiatives to promote organic agriculture and large areas under organic farming in the country are expected to generate significant growth opportunities for China's organic fertilizers market.

The Indian government has implemented the National Programme for Organic Production (NPOP), which includes the accreditation program for Certification Bodies (CB), organic production standards, and organic farming promotion. According to FiBL‐IFOAM‐SOEL‐Surveys, India had more than 2.65 million hectares of land under organic agriculture in 2020. Moreover, the Agricultural & Processed Food Products Export Development Authority (APEDA) stated that around 3.49 million MT of certified organic products were produced in India in 2020–2021. Thus, India's growing organic foods market is expected to support the growth of the organic fertilizers market in the country.

Moreover, the government, organic industry groups, and supply chain participants actively participate in initiatives to enhance the organic sector in Australia. As a result, organic operators, including organic producers and processors, are continuously increasing. The number of organic producers increased to more than 2,000 in 2020 from 1,700 in 2013. The increasing number of organic operators further boosts the growth of the organic food market and exports in the country.

In Japan, the Ministry of Agriculture, Forestry and Fisheries (MAFF) revised the Japanese Agricultural Standard (JAS) and implemented the Organic Food Identification Standards for Restaurants in January 2019. The Ministry of Agriculture, Forestry and Fisheries (MAFF) has strengthened its support for organic agriculture by enhancing existing measures and introducing a new strategic framework. In April 2020, MAFF raised the amount paid to organic farmers under the environmental direct payment scheme to JPY 12,000 (approx. Euro 90) per 0.1 hectares. In 2020, more than 11.99 thousand hectares of agricultural land were cultivated organically in the country.

Such growing adoption of organic fertilizers in emerging economies is expected to offer growth opportunities for the players operating in the organic fertilizers market. Meticulous Research®, in its latest publication on the Organic Fertilizers Market, states that the organic fertilizers market is expected to reach $19.88 billion by 2029, at a CAGR of 12.1% during the forecast period of 2022–2029. In terms of volume, this market is expected to reach 51,410.9 KT by 2029, at a CAGR of 7.8% during the forecast period. The increasing demand for organic foods and the growing awareness of environmental safety with the use of organic fertilizers are some of the factors driving the growth of the organic fertilizers market. Huge organic waste availability and advancements in organic fertilizer manufacturing processes further support the growth of this market. However, the high demand for inorganic (synthetic) fertilizers and challenges to new entrants and small companies may restrain the growth of this market.

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