According to Future Market Insights (FMI), the worldwide green fertilizer market is expected to reach USD 2223 million in 2024 and USD 3442.6 million by 2034. The market is projected to rise at a CAGR of 4.5% by 2034.
Growing demand for green fertilizers and pesticides is expected to drive growth in the coming years. Green fertilizers are increasingly used across commercial and residential sectors to improve crop yields and offer a potential alternative to conventional inputs.
Organic farming is gaining popularity due to its focus on healthier food production and reduced environmental impact. Green fertilizers are a key component of this farming method, emphasizing sustainability and ecologically friendly practices.
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Factors such as farmer demographics, economic incentives, and social, cultural, and institutional factors influence adoption. Financial incentives like subsidies and price premiums for organic products, along with support from public agricultural service providers and non-governmental organizations, also encourage adoption. Green fertilizers' high cost and potentially lower nutrient concentrations are deterring farmers from large-scale organic farming due to higher costs compared to synthetic fertilizers.
Key Takeaways from the Green Fertilizer Market Report:
The green fertilizer industry is expected to reach a value of US$ 3442.6 million by 2034.
The market is projected to surge at a CAGR of 4.5% by 2034.
China's green fertilizer market is expected to grow at a CAGR of 5% by 2034.
In terms of fertilizer, the ammonium nitrate (AN) segment is set to account for a 36.2% share in 2024.
Based on technology, the alkaline water electrolysis segment is expected to hold a market share of 33.5% in 2024.
"Governments in developing economies are increasing funding for research and development, along with targeted subsidies, to produce organic or green fertilizers due to environmental concerns. Green fertilizers growth is attributed to concerns about carbon footprint reduction and intensities, driven by increased demand for food-free alternatives to chemical fertilizers and pesticides." – says a lead analyst at Future Market Insights (FMI)
Competitive Landscape
Yara International ASA, Siemens Energy, Origin Energy Limited, Iberdrola, S.A., Hy2gen AG, Hive Energy, and Haldor Topsor A/S are the key green fertilizers manufacturers in the industry. Leading companies in the market are focusing on partnerships with distributors, capacity expansions, and operational strategies to gain a competitive edge.
The market is growing due to increased consumption of various crop types. Companies are competing based on product performance, quality, technical competence, price, and corporate reputation.
Key growth strategies in the market include new product launches, licensing agreements, distribution network expansion, technological investments, and mergers and acquisitions. Growing demand for organic food products is expected to necessitate large-scale development of organic fertilizers, creating opportunities for stakeholders.
Industry Updates-
In 2023, Mirimichi Green introduced its 4-4-4 Organic Grain Fertilizer, a granular product containing organic ingredients and beneficial soil biology, suitable for use on residential and commercial lawns.
In 2023, Windfall Bio raised USD 9 million in a seed round led by UNTITLED to develop a solution to recover methane emissions and transform them into organic fertilizer.
In 2023, Qilian International Holding Group Limited completed the first phase of expansion of the organic fertilizer production plant, increasing its production capacity to around 30,000 tons annually.
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Future Market Insights (FMI), in its new offering, provides an unbiased analysis of the global green fertilizer market presenting historical demand data (2019 to 2023) and forecast statistics for the period from 2024 to 2034.
The study incorporates compelling insights on the green fertilizer market based on technology (alkaline water electrolysis, proton exchange membrane, and solid oxide electrolysis), fertilizer (packaging, ammonium nitrate [AN], and calcium ammonium nitrate [CAN]), and region