Report : Asia Pacific Organic Fertilizers Market Forecast to 2027 - COVID-19 Impact and Regional Analysis by Source (Plant, Animal, and Mineral), Crop Type (Cereals and Grains, Oilseed and Pulses, Fruits and Vegetables, and Others), and Form (Dry and Liquid)
Animal-Based Organic Fertilizers Segment to Dominate APAC Organic Fertilizers Market during 2019–2027
According to The Insight Partners market research study on “APAC Organic Fertilizers Market Forecast to 2027 – COVID-19 Impact and Analysis – By Source (Plant, Animal, and Mineral), Crop Type (Cereals and Grains, Oilseed and Pulses, Fruits and Vegetables, and Others), and Form (Dry and Liquid),” is expected to reach US$ 8,691.62 million by 2027 from US$ 3,473.48 million in 2018 and is expected to grow at a CAGR of 10.8% from 2019 to 2027. The report provides trends prevailing in the APAC Organic Fertilizers Market along with the drivers and restraints pertaining to the market growth. Increasing consumption of organic food products is the major factor driving the growth of the APAC Organic Fertilizers market. However, stringent regulations related to organic fertilizers hinder the growth of the APAC Organic Fertilizers market. Furthermore, COVID-19 has affected economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The consequence and impact can be even worse and totally depends on the spread of the virus. The government of Asia Pacific is taking possible steps to reduce its effects by announcing lockdown, and thus, impact the revenue generated by the market. The Airports Council International (ACI) Asia-Pacific warned that the prolonged duration of the coronavirus (COVID-19) outbreak would drastically impact the region’s airports’ connectivity and economic sustainability, significantly restricting them from achieving previously forecasted growth prospects. Such closures are anticipated to negatively impact market growth in the coming period. Till now, China has the highest number of COVID -19 confirmed cases.
The APAC Organic Fertilizers market is segmented into source, crop type, and form. Based on source, the organic fertilizers market is bifurcated into plant, animal, and mineral. The animal segment dominated the APAC organic fertilizers market during the forecast period of 2019-2027. The organic fertilizers market based on crop type has been segmented into cereals and grains, oilseed and pulses, fruits and vegetables, and others. The cereals and grains segment dominated the APAC organic fertilizers market, whereas the market for fruits and vegetables is expected to grow at a higher CAGR during the forecast period. Based on form, the organic fertilizers market is sub-segmented into dry and liquid. The dry form segment held the largest share during the forecast period.
AgroCare Canada; Biostar Renewables, LLC; Coromandel International Limited; Italpollina SpA; Krishak Bharati Cooperative Limited; National Fertilizers Limited; ScottsMiracle-Gro; and Suståne Natural Fertilizer, Inc. are among the leading companies in the APAC Organic Fertilizers market. The companies are focused on adopting organic growth strategies such as product launches and expansions to sustain their position in the dynamic market. For instance, in 2019, Agrinos announced a new strategic partnership with Coromandel International Limited. Coromandel International Limited is one of India’s largest fertilizer manufacturers. The alignment with Agrinos would enable Coromandel to broaden its offering of complete plant nutrition solutions, including specialty nutrients and organic fertilizers. Coromandel will provide growers across India with Agrinos’ proprietary High Yield Technology (HYT) biological crop inputs, sold under the brand name ARITHRI.
The Report Segments The APAC Organic Fertilizers Market As Follows:
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