According to the report, the Europe organic fertilizers market accounted for $2.55 billion and is expected to garner $3.26 billion by 2023, registering a CAGR of 4.2% from 2017 to 2023.
Increased awareness toward the use of organic fertilizers and stringent government regulations using synthetic fertilizers drive the growth of the Europe organic fertilizers market. Moreover, harmful effects due to prolonged exposure to chemical fertilizers have supplemented the demand for organic fertilizers. However, ongoing R&D activities on synthetic fertilizers and lower nutrient content of organic fertilizers compared to synthetic fertilizers hamper the growth of the market. On the contrary, increasing demand for organic food is expected to create lucrative opportunities for the market players in the near future.
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Animal segment governs the market:
The animal segment held the largest share, contributing about half of the market share in 2017, as animal-based fertilizers provide the highest levels of nitrogen. However, the mineral segment is expected to register the fastest CAGR of 6.2% during the forecast period, owing to increased usage of mineral-based organic fertilizers to support healthy growth of plants. The other segment of plant-based organic fertilizer is also discussed in the report.
Fruits & vegetable segment to manifest highest CAGR by 2023:
The fruits & vegetable segment is expected to manifest the fastest CAGR of 5.8% during the forecast period, owing to increased demand for organic foods in Europe. However, the cereals & grains held the largest share in 2017, contributing about one-third of the total market share, owing to cereals & grains are most-widely cultivated crop types in Europe as they the major source of proteins and carbohydrates. The oilseeds & pulses segment is expected to witness steady growth during the forecast period.
Dry organic fertilizers segment portrays highest demand:
Dry organic fertilizers segment accounted for the largest market share in 2017, contributing more than half of the total revenue, as it offers high nutrition to plants over an extended period, which ultimately saves labor and time. However, the liquid organic fertilizers segment is expected to portray the fastest CAGR of 5.1% during the study period, as it offers nutrients that are readily available for absorption to plants.
Germany dominates the market throughout the study period:
In 2017, Germany dominated the market, contributing about 30% share of the market, owing to increased demand for food production. However, Spain is expected to register the fastest CAGR of 7% during the study period, owing to increase in consumption of organic food and development of organic farming due to its favorable climatic conditions. The other regions analyzed in the report include France, Italy, the U.K., and Rest of Europe.
Major market players:
The major market players analyzed in the report include ILSA S.P.A, Fertikal N.V., Protan AG, Novozymes A/S., Viano, Italpollina SPA, Uniflor Poland Ltd, Plantin SARL, AGRIBIOS ITALIANA S.r.l., and E.B.F. EURO BIO FERT S.r.l.
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