Meticulous Research®, a premier global market research company, has recently released an in-depth 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.’
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In accordance with this cutting-edge publication, the seaweed fertilizers market is poised to achieve a substantial valuation of $29.6 million by 2030, reflecting a Compound Annual Growth Rate (CAGR) of 10.4% during the forecast period spanning from 2023 to 2030. The surge in demand for organic farming and organic food, coupled with governmental initiatives promoting the use of natural fertilizers, escalating concerns regarding environmental sustainability, and the expansion of seaweed cultivation are pivotal factors propelling the market's upward trajectory. Nevertheless, the market growth is anticipated to face hindrance due to the relatively higher cost compared to synthetic fertilizers. Despite this, increasing awareness surrounding the benefits of seaweed fertilizers is expected to present lucrative growth prospects for stakeholders in the market.
The global seaweed fertilizers market is meticulously segmented based on form (powder and liquid), application mode (with a spotlight on foliar spray), crop type (encompassing field crops, horticultural crops, and other varieties), end-use (covering agriculture, household garden, and other applications), and geography (spanning North America, Europe, Asia-Pacific, Latin America, and the Middle East & Africa). The report also conducts a thorough analysis of industry competitors while delving into regional and country-level market dynamics.
Breaking down the segments further, the powder form of seaweed fertilizers is foreseen to dominate the market in 2023, attributing its supremacy to an extended shelf life, cost-effectiveness, ease of storage, and heightened efficiency over liquid counterparts. This form allows for seamless integration into the soil, ensuring a slow-release effect or swift application when mixed with water.
Within the application mode segment, foliar spray is anticipated to capture a larger market share in 2023. This dominance is fueled by advancements in spraying equipment and an increasing demand for uniform nutrient distribution. Foliar spray, with its direct application onto leaves, bypasses the root system, providing immediate nourishment to plants, thereby gaining traction among consumers.
Analyzing crop types, horticultural crops are projected to witness the highest CAGR during the forecast period, driven by consumer preferences for organic fruits and vegetables and the expanding cultivation of organic horticultural crops.
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Furthermore, the agriculture segment is expected to lead the global seaweed fertilizers market in 2023. The dominance of this segment is primarily attributed to the burgeoning organic farming sector, the myriad benefits of seaweed fertilizers in crop production, and a growing awareness regarding the use of organic fertilizers.
In terms of geography, North America is poised to command the largest market share in 2023, followed by Europe, Asia-Pacific, Latin America, and the Middle East & Africa. The preeminence of North America can be attributed to the presence of major seaweed fertilizer manufacturers, heightened consumer preference for organic and natural food products, expanding areas under organic cultivation, an increasing demand for biofertilizers, and the adoption of innovative agricultural technologies.
Key Players
Key Players driving innovation and growth in the global seaweed fertilizers market include 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).
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Key Questions Answered in the Report-
• What are the historical market sizes and growth rates of the global seaweed fertilizers market?
• At what rate is the global seaweed fertilizers demand projected to grow for the next 5–7 years?
• What are the major factors impacting the growth of this market at the regional and country levels? What are the major opportunities for existing players and new entrants in the market?
• Which segments in terms of form, application mode, crop type, and end-use are expected to create major traction for the manufacturers in this market during the forecast period of 2023–2030?
• What are the key geographical trends in this market? Which regions/countries are expected to offer significant growth opportunities for the manufacturers operating in the global seaweed fertilizers market during the forecast period of 2023–2030?
• Who are the major players in the global seaweed fertilizers market? What are their specific product offerings in this market?
• What are the recent strategic developments in the global seaweed fertilizers market? What are the impacts of these strategic developments on the market?
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