Green Fertilizer Market to reach over USD 3.25 billion by the year 2031 – Exclusive Report by InsightAce Analytic
InsightAce Analytic Pvt. Ltd. announces the release of a market assessment report on the “Global Green Fertilizer Market Size, Share & Trends Analysis Report By Technology (Alkaline Water Electrolysis, Proton Exchange Membrane And Solid Oxide Electrolysis) And Fertilizers (Packaging, Ammonium Nitrate (AN) And Calcium Ammonium Nitrate (CAN))- Market Outlook And Industry Analysis 2031”
The global green fertilizer market is estimated to reach over USD 3.25 billion by 2031, exhibiting a CAGR of 5.64% during the forecast period.
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Green fertilizers are nitrate-based mineral fertilizers with the same biological and chemical makeup as fertilizers made with fossil fuels (natural gas, coal, and oil). Still, they have a far lower environmental impact because they are made with renewable power (hydro, wind, solar). To put it another way, using green fertilizers is an easy, low-impact, and non-fossil strategy to reduce carbon emissions in food production. The impacts of climate change on domestic agriculture can currently be seen in the form of shortages, droughts, heavy downpours, and increased insect occurrences.
Growing population, economic growth, and fast urbanization will all contribute to a large increase in these factors. The market for organic fertilizers has seen tremendous expansion as a result of reasons like the growing demand to increase agricultural production and awareness of the harmful effects of chemical inputs, and the advantages of using organic fertilizers. The high cost of organic fertilizers is a significant factor that is projected to restrain the growth of the market for organic fertilizers. Few organic fertilizers also take longer to make the lawn green and could lead to plant deficiencies in the months after the initial fertilizer application.
Furthermore, how many nutrients are included in organic fertilizer frequently needs to be clarified. By limiting the entry of dangerous chemicals into bodies of water, which promotes algae growth, organic fertilizers increase soil fertility and conserve water.
List of Prominent Players in the Green Fertilizer Market:
• 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
• Enaex Energy
• Dyno Nobel
• CF Industries Holdings, Inc.
• Ballance Agri-Nutrients
• Aker Clean Hydrogen
• Air Products Inc.
• ACME Group”
Market Dynamics:
Drivers-
The market is driven primarily by an increasing number of organic farms, global acreage, and a growing preference for organic food products because of their numerous health and fitness advantages. Additionally, the growing accessibility of animal and vegetable waste and improvements in the production process of green fertilizers are expanding the market for these commodities’ suppliers.
Challenges:
The high cost of making green fertilizer is a big factor that is projected to reduce demand. Few Green Fertilizers can take longer to turn the grass green, and some can even deplete plant nutrients in the months after the original fertilizers. Secondly, it frequently needs to be clarified how many nutrients are present in organic fertilizer. Because Green fertilizers break down nutrients more slowly than synthetic fertilizers, and some have disagreeable smells, they can only sometimes be utilized in indoor gardens. Market expansion needs to be improved by the abovementioned restrictions.
Regional Trends:
The North American green fertilizer market is expected to register a major market share in revenue . The presence of major green fertilizer manufacturing businesses and important technological suppliers, the adoption of strict laws, and the expanding trend of utilizing green fertilizers all impact the growth of the green fertilizer market in the United States. Besides, Europe had a substantial share of the market. Long-term investments are projected to only slightly increase efficiency due to the physicochemical constraints of existing technology. Even though they are older on average, Europe’s ammonia facilities are still among the most energy-efficient in the world and emit the fewest CO2 emissions. Young plants are often quite efficient.
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Recent Developments:
• In March 2019-Horticultural Alliance, Inc., a Florida-based company, was purchased by Italpollina SpA. The organic plant health and management division of Horticultural Alliance, Inc. (USA). Additionally, Italpollina SpA established a new business in the U.S. to produce and market organic fertilizers across North America.
Segmentation of Green Fertilizer Market-
By Technology:
• Alkaline water electrolysis
• Proton Exchange Membrane
• Solid Oxide Electrolysis
By Fertilizer:
• Packaging
• Ammonium nitrate (AN)
• Calcium ammonium nitrate (CAN)
By Region-
North America-
• The US
• Canada
• Mexico
Europe-
• Germany
• The UK
• France
• Italy
• Spain
• Rest of Europe
Asia-Pacific-
• China
• Japan
• India
• South Korea
• South East Asia
• Rest of Asia Pacific
Latin America-
• Brazil
• Argentina
• Rest of Latin America
Middle East & Africa-
• GCC Countries
• South Africa
• Rest of Middle East and Africa
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