The growing adoption of organic farming in developed countries is one of the key factors expected to trigger the market’s growth in the forthcoming years. Organic farming is gaining popularity in developed economies as it involves low operational costs. Farmers are further moving toward organic farming as it is a more sustainable farming option due to the rising awareness about health hazards associated with the use of chemicals in food products. As a result, the increasing popularity of organic farming will drive the amino acid fertilizer market during the forecast period. analysts have predicted that the amino acid fertilizer market will register a CAGR of over 8% by 2023.
Growing adoption of organic farming in developed countries
One of the growth drivers of the global amino acid fertilizer market is the growing adoption of organic farming in developed countries. The growth of the organic farming industry and the need for a sustainable means to enhance crop growth and durability are driving the market growth.
Availability of substitutes
One of the challenges in the growth of the global amino acid fertilizer market is the availability of substitutes. Farmers prefer chemical fertilizers over amino acid fertilizers which will hamper the growth of the global amino acid fertilizer market.
For the detailed list of factors that will drive and challenge the growth of the amino acid fertilizer market during 2019-2023, view our report.
The market appears to be concentrated and with the presence of a few market players. Vendors in the market are focusing on forming strategic partnerships with their counterparts in related markets to expand their market presence and product portfolio. This market research report will help clients identify new growth opportunities and design unique growth strategies by providing a comprehensive analysis of the market’s competitive landscape and offering information on the products offered by companies.