The Phosphorus Enriched Organic Manure Market is experiencing notable growth due to increasing awareness of sustainable agriculture practices and the rising demand for organic farming inputs. This type of manure, which combines organic material with phosphorus, is favored for its ability to improve soil fertility and crop yields while being environmentally friendly. Key drivers of the market include the shift towards organic farming, government support for sustainable agricultural practices, and the growing need for eco-friendly fertilizers.
NEWARK, DE / ACCESSWIRE / July 16, 2024 / The global phosphorus-enriched organic manure market value is predicted to increase from USD 3,382.9 million in 2024 to USD 6,347.6 million by 2034. Over the forecast period, global demand for phosphorus-enriched organic manures is projected to surge at a CAGR of 6.5%.
The growing demand for organic products that are favorable to the environment is driving the demand for phosphate-rich organic manure (PROM) in the market. PROM is becoming increasingly popular with farmers and gardeners as awareness of sustainable farming and lowering the chemical load on the planet grows.
Unlike chemical fertilizers, PROM neither damage the health of the soil nor pollute the atmosphere. It helps prevent soil erosion and supplies the soil with the macro- and micronutrients it needs, fueling the market growth.
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Farmers are using PROM at a rising pace because of its several uses in various crops and soil types and its value-adding features. It functions as the perfect soil conditioner and increases soil porosity. In addition, a growing number of government programs and product introductions incorporating vermicomposting methods are anticipated to create additional market potential.
Key participants in the industry are becoming increasingly interested in producing organic manures via bio-conversion techniques. This is expected to open up profitable options in the market for organic manure that is rich in phosphate.
Key Takeaways from the Report
The global phosphorus-enriched organic manure market is projected to thrive at 6.5% CAGR through 2034.
By source, the animal-based segment is expected to have a CAGR of 5.7% by 2034.
By crop type, the cereals & grains segment is set to hold a market share of 64.2% in 2024.
East Asia is expected to account for a significant share of about 29.7% in 2034.
China is projected to surge at a CAGR of 6.5% by 2034.
Demand in India is predicted to rise at 7.0% CAGR through 2034.
"The phosphorus-enriched organic manure market is poised to witness healthy growth due to the increasing adoption of sustainable agricultural practices and rising demand for organic produce. Key end-use industries such as farming, gardening, and horticulture are driving the demand for these fertilizers, further propelling market expansion - says Nikhil Kaitwade, Associate Vice President at Future Market Insights (FMI).
Competitive Landscape
The global phosphorus enriched organic manure market is fragmented, with leading players accounting for around 40% to 45% share. Sustane Natural Fertilizer Inc., Biogen Fertilizers India Private Ltd., Hindustan Bec Tech India Pvt. Ltd., and Jaipur Bio Fertilizers, are the leading manufacturers and suppliers of phosphorus enriched organic manure listed in the report.
Key phosphorus enriched organic manure companies are investing in continuous research for producing new products and increasing their production capacity to meet end-user demand. They are also showing an inclination toward adopting strategies, including acquisitions, partnerships, mergers, and facility expansions to strengthen their footprint.
Recent Developments-
In 2022, Tessenderlo Group built a new organic fertilizer production line in Vénérolles, France.
In 2023, OCP, a Morocco-based manufacturer of fertilizers and phosphates, sent 1.7 million tons of phosphate-based fertilizers to India.
More Insights into the Phosphorus Enriched Organic Manure Report
In its latest report, Future Market Insights (FMI) offers an unbiased analysis of the global phosphorus-enriched organic manure market, providing historical data from 2019 to 2023 and forecast statistics for the period 2024 to 2034.
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Phosphorus Enriched Organic Manure Market Segmentation by Category
By Source:
Plant-based
Animal-based
By Crop Type:
Cereals & Grains
Oilseed & Pulses
Fruits & Vegetables
Others
By Form:
Solid
Liquid
By Application:
Farming
Gardening
By Region:
North America
Latin America
Western Europe
Eastern Europe
East Asia
South Asia Pacific
Middle East and Africa
Authored By:
Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.) has over a decade of experience in market research and business consulting. He has successfully delivered 1500+ client assignments, predominantly in Automotive, Chemicals, Industrial Equipment, Oil & Gas, and Service industries.
His core competency circles around developing research methodology, creating a unique analysis framework, statistical data models for pricing analysis, competition mapping, and market feasibility analysis. His expertise also extends wide and beyond analysis, advising clients on identifying growth potential in established and niche market segments, investment/divestment decisions, and market entry decision-making.
Nikhil holds an MBA degree in Marketing and IT and a Graduate in Mechanical Engineering. Nikhil has authored several publications and quoted in journals like EMS Now, EPR Magazine, and EE Times.
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