Meticulous Research®—a leading global market research company, published a research report titled, ‘Seaweed Fertilizers Market by Form (Powder Seaweed Fertilizer, Liquid Seaweed Fertilizer), Application Mode (Foliar Spray), Crop Type (Field Crops, Horticultural Crops), End Use (Agriculture, Household Garden) and Geography- Global Forecast to 2030.’
According to this latest publication from Meticulous Research®, the seaweed fertilizers market is projected to reach $29.6 million by 2030, at a CAGR of 10.4% during the forecast period of 2023 –2030. Rising demand for organic farming & organic food, increasing government initiatives to encourage the use of natural fertilizers, growing concerns regarding environmental safety, and growing seaweed cultivation are some of the factors driving the growth of this market. However, the high cost compared to synthetic fertilizers is expected to restrain the market growth somewhat. Moreover, the increasing awareness about seaweed fertilizers is further expected to provide growth opportunities for the stakeholders operating in this market.
The global seaweed fertilizers market is segmented by form (powder and liquid form seaweed fertilizers), application mode (foliar spray and other modes of application), crop type (field crops, horticultural crops, and other crop types), end-use (agriculture, household garden, and other end-uses), and geography (North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The study also evaluates industry competitors and analyses the regional and country-level markets.
Based on form, the global seaweed fertilizers market is segmented into powder and liquid seaweed fertilizers. The powder seaweed fertilizers segment is expected to account for the larger share of the global seaweed fertilizers market in 2023. The large market share of this segment is attributed to its comparatively longer shelf life, cost-effectiveness, ease of storing, and high efficiency over the liquid form seaweed fertilizers. Moreover, this form of seaweed fertilizers can easily be worked into the soil for a slow-release effect or mixed with water and applied for quicker intake.
Based on application mode, the seaweed fertilizers market is segmented into foliar spray and other application modes. In 2023, the foliar spray segment is expected to account for the larger share of the seaweed fertilizers market. Advancement in spraying equipment and the growing need for uniform distribution of nutrients are the major factors driving the large share of this segment. The equal distribution of nutrients ensures that all plant parts receive the necessary nourishment, leading to healthier and more productive plants. In recent years, there has been a growing consumer preference for foliar spray as it allows for the direct application of seaweed fertilizers onto the leaves, bypassing the root system and providing immediate nourishment to the plants.
Based on crop type, the seaweed fertilizers market is segmented into field crops, horticultural crops, and other crop types. The horticultural crops segment is projected to register the highest CAGR during the forecast period of 2023–2030, owing to growing consumer preferences for organic fruits & vegetables and expanding organic horticultural crop cultivation.
Based on end-use, the agriculture segment is expected to account for the largest share of the global seaweed fertilizers market in 2023. The large market share of this segment is mainly attributed to the growing organic farming area, the wide range of benefits of seaweed fertilizers in crop production, and growing awareness about the use of organic fertilizers.
Based on geography, in 2023, North America is expected to account for the largest share of the seaweed fertilizers market, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The leading position of North America in the seaweed fertilizers market is attributed to the presence of major seaweed fertilizer manufacturers, increasing consumer preference for organic & natural food products, increasing areas under organic cultivation, growing demand for biofertilizers, and increasing adoption of innovative technologies in the agricultural system.
The key players operating in the global seaweed fertilizers market are DOLLS EXPORTS PVT. LTD. (India), Donegal Seaweed (Ireland), FoxFarm Soil & Fertilizer Company (Canada), Kelp Products International (Pty) Ltd.(South Africa), Maxicrop USA, Inc. (U.S.), Plan “B” Organics (U.S.), QINGDAO SINTA BIOTECHNOLOGY CO., LTD (China), Seed2Plant India Pvt. Ltd. (India), TAGROW CO., LTD. (China), TECHSEALAB (France), The Espoma Company (U.S.), and Xiangcheng Jiahe Biological Technology Co., Ltd (China).
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