Regular Update
ATM News Network: The organic fertilisers market is expected to reach US$15.9 billion by 2027, at a compound annual growth rate (CAGR) of 11.5 per cent during the forecast period, 2020-2027. Also, in terms of volume, the organic fertilizers market is expected to grow at a CAGR of 6.6 per cent from 2020 to 2027 to reach 338.29 lakh tonne by 2027, a study Organic Fertilizers Market, conducted by Meticulous Market Research has estimated recently.
According to the study, the demand for organic fertilizers is growing across the globe. Organic agriculture serves multiple functions.
It is an important tool for achieving "green productivity" in agriculture and mitigates the negative impacts of conventional input-intensive agriculture by excluding the use of agrochemical inputs from the production system; minimizing environmental pollution; promoting reuse and recycling of organic farm waste and crop residues; improving biodiversity; and enhancing soil productivity. Organic agriculture and agribusiness also contribute to improving rural livelihoods and sustainable development by generating rural employment opportunities and increasing farm incomes.
Organic agriculture is not only beneficial for more affluent countries but can also be applied successfully in other locations. Especially in less developed countries, it can contribute to foreign exchange earnings, green productivity, and sustainable socio-economic development. COVID-19 impact on organic fertiliser market The organic fertiliser market continues to be challenged by the lockdowns, logistic disruptions, reduced production, and associated economic impacts of COVID-19.
The fertiliser sector has been affected since the outset, primarily in the US and China, the world largest producers and consumers of fertilisers. Moreover, the pandemic also affected the other key markets for organic fertilisers such as Australia, Brazil, India, and the EU-5 countries.
