Research Nester recently published a report titled “Asia Pacific Organic Manure Market: Outlook, Industry Analysis & Opportunity Evaluation – 2018-2027” that delivers detailed overview of the Asia Pacific organic manure market in terms of market segmentation by source, by form, by nutrient type and by countries.
Further, for the in-depth analysis, the report encompasses the industry growth drivers, restraints, supply and demand risk, market attractiveness, BPS analysis and Porter’s five force model.
Organic manure are materials that are organic by nature and are capable of supplying plant nutrients by soil modification. The market is witnessing growth and a high demand owing to its attributed benefits. The market is estimated to showcase promising growth in the upcoming years on the back of rising awareness and concerns for food and environment.
Increasing implementation of organic farming techniques has significantly resulted in increased consumption of organic manure and compost products. Moreover, the use of organic manure is directly related to the production of organic crops. According to the FIBL, Asia comprises 45% of organic farmland for arable crops. Rising demand for organic food and increasing government investments for maintaining the eco-friendly environment are further anticipated to drive the demand for organic manure. In 2018, the Asia Pacific organic manure was valued at USD 157.29 million and volume of 695,944 tons. The market is predicted to grow at a robust CAGR of 5.93% in value and 5.01% in volume over the forecast period (2020-2027) and is estimated to cross USD 258.26 million & 1,058,897.79 tons by the end of 2027.
The total area of organic agricultural land in Asia was almost 6.1 million hectares in 2017, which is 0.4% of the total agricultural area across the region. Also, Asia is comprised of 9% of the global organic agricultural land. Additionally, rising demand for ensuring the sustainability of global food systems, vulnerability to food security & reducing poverty, and establishment of risk management tools & systems has resulted in increased demand for modern-day farming techniques such as organic farming.
In Asia, the top organic farming nations by land area are China and India. The government policies are supporting the growth of the organic farming and thus providing subsidies and other supports to escalate the application rate of organic manure in the agricultural fields which have aided the growth of the organic manure market. Among the countries of Asia Pacific, China is predicted to generate highest market size of USD 113.14 million in terms of value by the end of 2027, while growing at a CAGR of 6.40% over the forecast period. The presence of local players in the market has created high volume generation in China which is expected to achieve a CAGR of 5.50% with 439,760.25 tons in 2027. The growing number of market players particularly in the developing countries such as China and India have brightened the prospects for growth of the organic manure market in Asia Pacific.
However, high cost of organic crops in the developing regions is a major factor hampering the market growth. Conventional farmers use all type of chemicals and synthetic pesticides to reduce the cost of production by getting the job done faster and more efficiently. Whereas, organic farmers have to hire more workers for different tasks such as hand-weeding, cleanup of polluted water, and the remediation of pesticide contamination. These processes take time and thus lead to increase in cost of the crops, which is further expected to limit the growth of the market over the forecast period.
This report also provides the existing competitive scenario of some of the key players of the organic manure market which includes company profiling of Multiplex Group, National Fertilizer Limited, Coromandel International Limited, KRIBHCO, Revisoil, Qingdao Future Group, Jaipur Bio Fertilizers, Special Biochem Private Ltd, Rachna Guild Pvt Ltd., Asia Agrotech Co., Ltd, and Qld Organics. The profiling enfolds key information of the companies which encompasses business overview, products and services, key financials and recent news and developments. On the whole, the report depicts detailed overview of the Asia Pacific organic manure market that will help industry consultants, equipment manufacturers, existing players searching for expansion opportunities, new players searching possibilities and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.