Seaweed Fertilizers Market to be Worth $29.6 Million by 2030
Added: (Mon Sep 04 2023)
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According to a new market research report titled, ‘Seaweed Fertilizers Market by Form (Powder Seaweed Fertilizer, Liquid Seaweed Fertilizer), Application Mode (Foliar Spray), Crop Type (Field Crops, Horticultural Crops), End Use (Agriculture, Household Garden) and Geography - Global Forecast to 2030,’ the seaweed fertilizers market is projected to reach $29.6 million by 2030, at a CAGR of 10.4% from 2023 to 2030.
Seaweed fertilizers are organic fertilizers derived from seaweed or marine algae. They have been used for centuries in traditional agricultural practices in coastal regions and have gained popularity in modern agriculture due to their numerous benefits. Seaweed contains various essential nutrients, growth-promoting substances, and beneficial microorganisms, making it a valuable source of plant nutrition. Seaweed fertilizers are derived from various seaweed species, such as red, brown, and green seaweed. Seaweed contains essential nutrients, including macro and micronutrients, vitamins, and minerals.
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Recently, there has been a growing interest in seaweed fertilizers for higher crop production and soil quality improvement. Seaweed nutrients boost plant growth, enhance soil fertility, improve crop yield, and boost plant resistance to diseases and pests. This can reduce the need for inorganic fertilizers and pesticides, leading to safer food production.
The key players operating in the global seaweed fertilizers market are DOLLS EXPORTS PVT. LTD. (India), Donegal Seaweed (Ireland), FoxFarm Soil & Fertilizer Company (Canada), Kelp Products International (Pty) Ltd.(South Africa), Maxicrop USA, Inc. (U.S.), Plan “B” Organics (U.S.), QINGDAO SINTA BIOTECHNOLOGY CO., LTD (China), Seed2Plant India Pvt. Ltd. (India), TAGROW CO., LTD. (China), TECHSEALAB (France), The Espoma Company (U.S.), and Xiangcheng Jiahe Biological Technology Co., Ltd (China).
The global seaweed fertilizers market is segmented by form (powder and liquid seaweed fertilizers), application mode (foliar spray and other modes of application), crop type (field crops, horticultural crops, and other crop types), end-use (agriculture, household garden, and other end-uses). The study also evaluates industry competitors and analyzes the country-level markets.
Key Findings in the Global Seaweed Fertilizers Market Study:
Among all the forms studied in this report, in 2023, the powder seaweed fertilizers segment is expected to account for the larger share of the global seaweed fertilizers market. However, the liquid seaweed fertilizers segment is slated to register the highest CAGR during the forecast period of 2023–2030, owing to the ease of use and uniform application. Moreover, liquid seaweed fertilizers deliver quicker results than powder seaweed fertilizers as liquid fertilizers are readily consumable, which is further expected to support its increasing demand during the forecast period.
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Among all the modes of application studied in this report, the foliar spray segment is expected to account for the larger share of the seaweed fertilizers market in 2023. The large share of this segment is mainly attributed to the advancement in spraying equipment and the growing need for uniform distribution of nutrients. The uniform distribution of nutrients ensures that all plant parts receive the necessary nourishment, leading to healthier and more productive plants. Foliar spray allows for the direct application of seaweed fertilizers onto the leaves, bypassing the root system and providing immediate nourishment to the plants, which is further expected to support the high growth of this market during the forecast period.
Among all the crop types studied in this report, the horticultural crops segment is projected to register the highest CAGR during the forecast period of 2023–2030, owing to the growing demand for organic fruits and vegetables and the increasing area under horticultural crop cultivation.
Among all the end-use studied in this report, the agriculture segment is expected to account for the largest share of the seaweed fertilizers market in 2023. The large market share of this segment is attributed to the growing organic farming area, the wide range of benefits of seaweed fertilizers in crop production, and growing awareness about organic fertilizers. However, the household garden segment is projected to register a higher CAGR during the forecast period of 2023–2030, owing to the increasing demand for organic fertilizers in gardens. Moreover, seaweed fertilizers also work against slugs and birds and prevent the growth of fungus, which is further expected to support the growth of this market during the forecast period of 2023–2030.
Geographically, in 2023, North America is expected to account for the largest share of the global seaweed fertilizers market. The large share of this market is due to the increasing consumer preference for organic and natural food products, the presence of a large number of key players, increasing areas under organic cultivation in the U.S. and Canada, growing demand for biofertilizers, and growing adoption of innovative technologies in the agricultural system.
To gain more insights into the market with a detailed table of content and figures, click here: https://www.meticulousresearch.com/product/seaweed-fertilizers-market-5577
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