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.
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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 order 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.
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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.
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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.
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.
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