Green Fertilizer Market is Anticipated to Rise at 4.5% CAGR during Forecast Period by 2034 | Future Market Insights, Inc.

Green Fertilizer Industry to Reach USD 3442.6 million by 2034, Driven by Growth In Demand For Practices In Sustainable Agriculture. The strict environmental legislation and growing demand for green agriculture act as the driving forces, while advances in technology and government incentives provide support to the green fertilizer market.

/EIN News/ -- NEWARK, Del, Aug. 02, 2024 (GLOBE NEWSWIRE) -- 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.

Overview of the market:

•        Nitrogen-based fertilizers are likely to find a high rate of adoption in the European market as these are highly suitable for the regional soil.

•        Alkaline water electrolysis is likely to be the popular technology, owing to its high durability.

•        An increase in the land area under organic cultivation is estimated to drive market growth.

•        A surge in the size of the potential base of consumers, coupled with advancements made in the manufacturing processes of green fertilizers, is likely to augment growth.

•        Strict regulations imposed by the government for eco-friendly solutions are a key demand driver identified in the green fertilizers market.

•        Due to synthetic fertilizers reducing soil fertility, farmers are mainly adopting green fertilizers in 2024.

•        Harmful effects and prolonged exposure to chemical fertilizers are deteriorating the land quality, thereby increasing the prominence of using green fertilizers

Key Takeaways from the Green Fertilizer Market Report:

• The green fertilizer industry is expected to reach a value of USD 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 Nikhil Kaitwade (Associate Vice President at Future Market Insights, Inc.)

High Resilience on Inorganic Means Pose a Threat to Market Growth

Although the market is likely to have healthy growth, certain elements are prevailing in the market that is likely to deter growth in the upcoming years. There is a high cost associated with green fertilizers as compared to chemical or synthetic fertilizers, which act as a significant restraint to the expansion of the industry.

Furthermore, it is observed that a large number of farmers are relying on inorganic means for faster cultivation of crops. This factor is expected to challenge the green fertilizer industry from unraveling its true potential over the forecast period.

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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Leading Green Fertilizer Brands

• Yara International ASA
• Siemens Energy
• Origin Energy Limited
• Iberdrola, S.A.
• Hy2gen AG
• Hive Energy
• Haldor Topsor A/S
• H2U Technologies, Inc.
• Fusion-Fuel
• Fertiglobe
• Eneus Energy Limited
  

Key Segments of Market Report

By Technology:

As per technology, the industry has been categorized into alkaline water electrolysis, proton exchange membrane, and solid oxide electrolysis.

By Fertilizer:

Based on fertilizers, the sector has been segmented into ammonium nitrate (AN) and calcium ammonium nitrate (CAN).

By Region:

Industry analysis has been carried out in key countries of North America, Latin America, Western Europe, Eastern Europe, South Asia, East Asia, and the Middle East and Africa.

About the Chemicals and Materials Division at Future Market Insights (FMI)

The chemicals and materials division of Future Market Insights (FMI) offers a distinct and pinpoint analysis of the chemicals and materials industry. This exhaustive coverage extends from commodity, bulk, specialty, and petrochemicals to advanced materials, composites, and nanotechnology in particular, with special emphasis on 'green alternatives, recycling and renewable technology developments, and supply-demand-trade assessment. Our research studies serve as referencing market guidelines for chemical manufacturers, research institutions, channel partners, and government bodies for developing – 'The Way Forward'.

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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