ORGANIC FERTILIZER:
Latest industry data on organic fertilizers shows that sales across India are expected to reach US$ 573.9 Mn in 2022, registering Y-o-Y growth of approximately 5.9%. Going forward, the India organic fertilizer market is predicted to expand at 7% CAGR and reach a valuation of US$ 1.13 Bn by 2032-end.
India Organic Fertilizer Market Size (2021A) | US$ 541.8 Mn |
Market Estimation (2022E) | US$ 573.9 Mn |
Market Forecast (2032F) | US$ 1.13 Bn |
Value CAGR (2022-2032) | 7% |
Government initiatives and subsidies promoting the use of organic fertilizers in India, along with increasing consumption of organic food in the country, will drive the consumption of these fertilizers across their application areas. Well-structured and efficient supply chain network, expansion in production capacity, and crop-specific fertilizer production are expected to remain key growth strategies of market competitors to increase their footprint. North India is anticipated to remain a key region in the organic fertilizer business in the country, and the regional market is estimated to surge at a CAGR of 7.1% through 2032. As of 2021, sales of organic fertilizers comprised between 1% and 2% share of the overall India fertilizer market.
Organic Fertilizer Consumption Analysis (2017-2021) & Market Outlook (2022-2032)
Sales of organic fertilizers increased at 4.8% CAGR between 2017 and 2021, with states such as Madhya Pradesh, Maharashtra, Karnataka, Rajasthan, Uttar Pradesh, and Orissa accounting for a substantial portion of the Indian market. Sales in 2020 and 2021 were affected due to COVID-19, which hurt the demand for organic fertilizers from several application areas.
Government initiatives and subsidies promoting organic fertilizer usage in India along with increasing consumption of organic food in the country are set to drive consumption of organic fertilizers across application areas. Well-structured and efficient supply chain network, expansion in production capacity, and crop-specific fertilizer production are expected to remain the key growth strategies of Indian manufacturers of organic fertilizers.
The agricultural industry is recovering, which is also expected to bode well for organic fertilizer sales across the country. As a result, the organic fertilizers market in India is projected to expand, by value, at 7% CAGR during the forecast period of 2022 to 2032.
