Seaweed Fertilizer Market Size Worth USD 17.1 Million by 2025: Hexa Research

FELTON, California, Feb. 19, 2019 /PRNewswire/ -- The global seaweed fertilizer market is expected to reach USD 17.1 million by 2025. The growth of this market is derived from the growing awareness towards organic farming using products such as seaweed fertilizers. The market is also benefited from the ban on several chemical fertilizers in countries such as the U.S., Germany, France, and U.K. The ban is largely on account of chemical fertilizers' impact on human health and environment.

Seaweed extract is an important source of nutrients which are essential for plant growth and is available in both powder and liquid form. It is a cost-effective alternative to chemical fertilizers and enhances fertilizer effectiveness when applied with NPK (Nitrogen, Phosphorus, and Potassium) fertilizers. Seaweed fertilizer is also effective against pests including aphids, red spider, and slugs.

Over the past ten years, Europe has implemented regulations related to organic labeling and has witnessed an increase in organic food consumption. The growth in demand for organic food has pushed demand for organic fertilizers as well. As an organic fertilizer, seaweed fertilizer also has witnessed growth in demand in the region.

Organic fertilizer is used in around 14-million-hectare farmland of Europe. As of 2017, Spain accounted for the largest organic farmland, followed by Italy and France. Besides, the Common Agricultural Policy (CAP) by the European Commission, which encouraged the usage of organic fertilizers makes for a considerable growth prospect for seaweed fertilizers in the coming years.

Access full research report with TOC on "Global Seaweed Fertilizer Market Size And Forecast, by Form (Powder, Liquid), by Application (Farm, Garden), by Region, and Trend Analysis, 2015 - 2025" at: https://www.hexaresearch.com/research-report/seaweed-fertilizer-market

In North America, the sales of organic products have increased significantly since 2004. The U.S. and Canada have witnessed a remarkable increase in the demand for organic foods. The U.S. government is promoting the use of organic fertilizer by enacting supportive regulations and increasing its spending towards incorporation of organic fertilizer as an agrochemical in the domestic farming sector.

In 2017, Asia Pacific commanded well over 15.0% of the global seaweed fertilizer market revenue. The strong foothold of agro-farming land in countries such as China, India, and Indonesia is expected to remain a favorable factor in the near future. Also, China and Japan are the major producers of seaweed in the world. Though the region has relatively low demand for seaweeds, the rising emphasis on organic farming and the cost-effectiveness of seaweed fertilizers is expected to strengthen the demand in the coming years.

Some of the key companies in the seaweed fertilizer market include Dr. Earth, Inc, Kelpak, FoxFarm Soil & Fertilizer Company, Espoma, Grow More, Hydrofarm LLC, Maxicrop USA, Inc., MAXSEA, and Technaflora Plant Products Ltd. Over the coming years, the competition prevailing amongst various players is expected to increase with the growing demand for seaweed fertilizers. As the majority of seaweed is sourced from Asia Pacific region, companies are expected to consolidate their presence in the region through geographical expansion or strategic partnerships.

Browse related reports by Hexa Research:

• Agriculture Market – Global agriculture market is predicted to witness significant growth in coming years owing to rising demand for food across the globe
• Biofertilizers Market – Global biofertilizers market was estimated at USD 699.6 million in 2016 and is projected to grow over the forecast period on account of increasing inclination towards natural and organic food products
• Crop Protection Chemicals Market – Global crop protection chemicals market is anticipated to witness a steady growth on account of modernization in agricultural techniques. The overall market is projected to expand at a healthy CAGR over the forecast years
• Phosphate Rock Market – Global phosphate rock market size was estimated to be 226.68 million tons in 2016 driven primarily by the food demand associated with the growing population

Hexa Research has segmented the seaweed fertilizer market report based on form, application and region:-

Segmentation by Form

• Powder
• Liquid

Segmentation by Application

• Farm
• Garden

Segmentation by Region

• North America
• Europe
• Asia Pacific
• Central & South America
• Middle East & Africa

Key countries analyzed:

• U.S.
• Germany
• China
• India
• Brazil

Key players analyzed:

• Dr. Earth, Inc.
• Kelpak
• FoxFarm Soil & Fertilizer Company
• The Espoma Company
• Grow More Inc.
• Hydrofarm LLC.
• Maxicrop USA, Inc.
• MAXSEA
• Technaflora Plant Products Ltd.

About Hexa Research

Hexa Research is a market research and consulting organization, offering industry reports, custom research and consulting services to a host of key industries across the globe. We offer comprehensive business intelligence in the form of industry reports which help our clients obtain clarity about their business environment and enable them to undertake strategic growth initiatives.

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