United States, Rockville MD, June 16, 2022 (GLOBE NEWSWIRE) — According to the latest industry study by Fact.MR, market research and competitive intelligence firm, global Seaweed Bio-fertilizers market consumption has expanded at a CAGR of roughly 8% over the last half-decade.
From 2022 to 2032, the worldwide Seaweed Bio-fertilizers market is expected to grow at a fast rate, with a CAGR of over 8%. Seaweed represents a significant resource for both agricultural and nutritional purposes, leading to the market’s strong growth. Seaweed will be more valuable as better fertilizers are developed to cultivate larger harvests, and this continues to strengthen the global Seaweed Bio-fertilizers market in the next ten years.
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Seaweed biostimulants are a source of oligo-elements such as cytokinesis, auxins, gibberellins, amino acids, and complex sugars, and they are also high in inorganic elements like nitrogen, phosphorus, potassium, and iron. These vital nutritional ingredients ensure the nutrition seaweed needs, enhancing the world’s Seaweed Bio-fertilizers market’s economic growth over the next few years.
Countries have implemented restrictions on the use of synthetic Seaweed Bio-fertilizers in order to contend with the harmful effects on areas of sea habitation where artificial fertilizers are used. A slowdown may be observed in the growth rate due to the ongoing efforts by research groups on the promotion and marketing of Seaweed Bio-fertilizers without negative effects on the environment. It enables this market to consistently grow over the next five years.
Because of its simplicity of use and increased efficacy in plant development, the demand for liquid Seaweed Bio-fertilizers is on surge. Furthermore, fertilizers in liquid form are easier to use. Furthermore, organic farming is becoming increasingly popular among farmers throughout the world, which presents farmers with profitable options. Government initiatives that provide subsidies for subsistence-based farmers are also encouraging farmers to adopt more sustainable agricultural practices and uplift the global seaweed farming market over the next five years.
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Key Segments Covered in the Seaweed Bio-fertilizers Industry Survey
- By Form :
- By Application :
Some of the key Seaweed Bio-fertilizers market participants include Fox Farm Soil & Fertilizer Co., Grow More Inc., Maxi crop (UK) Limited, Kelp Products International, Technaflora Plant Products Ltd., Zhejiang Dongyang Lianfeng Biological Technology Co., Ltd., Omex Agricultural Holdings Limited, Neptune’s Harvest, Organic Ocean Inc., Herbal Agro Organics, SeaNutri LLC, Dr. Earth Inc., Hydrofarm LLC, and The Espoma Company.
The key market participants are actively involved in product development research and technology advancement.
New market players may focus on the research and development to provide options that satisfy the consumer demand as well as benefits the market players in building their brand value. Other competitive strategies include mergers & acquisitions and new product developments.
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Key players in the Seaweed Bio-fertilizers Market
- Fox Farm Soil & Fertilizer Co.
- Grow More Inc.
- Maxi Crop (UK) Limited Kelp Products International
- Technaflora Plant Products Ltd.
- Zhejiang Dongyang Lianfeng Biological Technology Co., Ltd.
Key Takeaways from Seaweed Bio-fertilizers Market Study
- Seaweed fertilizer market is projected to reach a valuation of US$ 30.5 Mn by 2032, with a projected growth of 8% during 2022 – 2032
- North America accounted for over 1/5th of the global seaweed fertilizer demand in 2021
- Top two players in the market account for over 35% share
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