The U.S. seaweed fertilizers market size is projected to reach USD 10.17 Million by 2027, expanding at a CAGR of 5.1%, according to a new report by Grand View Research, Inc. Rising inclination toward organic farming practices across developed and emerging economies is anticipated to boost market growth.
Governmental agencies in U.S. have set certain regulations and guidelines on the use of synthetic agrochemicals owing to the rising environmental hazards. Certain products have adverse effects on the soil as well as pollute water sources and other aspects of the environment, leading to various human health and crop hazards. The application of fertilizers or synthetic soil conditioning products to the agricultural land pollutes groundwater and can lead to the flowing of nutrients over the soil, draining into water streams, and leaching.
Growing awareness about the health benefits of organic foods has influenced food choices and consumer preference in the country. The United States Department of Agriculture (USDA) has developed the National Organic Program (NOP) to implement standards in organic farming. Some of the widely used organic additives for agricultural products include soil microbes, compost, and seaweed. Seaweed fertilizers are used for organic farming due to the presence of inorganic components such as potassium, calcium, sodium, and boron. These factors coupled with a rise in the consumption of organic foods have shifted the focus of the country’s agriculture industry toward organic farming.
Furthermore, the farming community in U.S. has realized the essence of utilizing seaweed fertilizers in horticulture sector which involves production, processing, and shipping of plants for producing fruits and vegetables. Floriculture is also considered a part of horticulture industry. Horticulture industry in the country is growing at a steady pace with the rising number of farms. As per the government sources, the contribution from these farms is a remarkable feature as about 96% of the farms have shown sales of over USD 100,000.
Seaweed fertilizers are going to play an important role in the growth of horticulture industry of the nation as they not only act as high-quality additives but also help the market shift toward natural ingredients. In states with prominent coastline such as California, seaweed cultivation is essential as it provides the soil with necessary ingredients to improve its nutritive value and pass it onto the consumers.
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U.S. Seaweed Fertilizers Market Report Highlights
• Liquid seaweed product form is anticipated to witness a volumetric CAGR of 4.5% from 2020 to 2027 on account of ease of application and increasing restrictions on synthetic fertilizers and crop care chemicals in the country
• Consumption of seaweed fertilizers in gardening application is projected to reflect a steady CAGR of 4.8% from 2020 to 2027 due to increasing preference of the natives to grow their own fruits and vegetables in community gardens
• California is by far the largest consumer of the product due to presence of stringent regulations against the use of synthetic agrochemicals in the state and growing consumer awareness regarding the benefits of consuming organically harvested products against chemically-derived farm produces.
• Companies such as MaxiCrop, SeaNutri LLC, and OceanOrganics have established significant position in the market owing to the depth of their product portfolios. The industry currently comprises of small players that are trying to establish their market position. The value chain effects of changing strategies can be experienced in terms of logistics decisions and cold storage facilities.
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U.S. Seaweed Fertilizers Market Segmentation
Grand View Research has segmented the U.S. seaweed fertilizers market on the basis of product form, application, and states:
U.S. Seaweed Fertilizers Product Form Outlook (Volume, Tons; Revenue, USD Thousand, 2016 – 2027)
U.S. Seaweed Fertilizers Application Outlook (Volume, Tons; Revenue, USD Thousand, 2016 – 2027)
U.S. Seaweed Fertilizers States Outlook (Volume, Tons; Revenue, USD Thousand, 2016 – 2027)
• North Carolina
List of Key Players of U.S. Seaweed Fertilizers Market
• SeaNutri LLC
• Plan B Organics
• Dr. Earth Inc.
• FoxFarm Fertilizers, LLC
• Grow More Inc.
• Hydrofarm LLC
• Maxicrop USA, Inc.
• KIS Organics
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Grand View Research is a U.S. & India-based market research and consultancy firm. It is headquartered in San Francisco. We provide business insights, syndicated research reports, and customized research reports to large as well as small and medium-scale enterprises. Our database features thousands of statistics and in-depth analyses on more than 45 industries. Grand View Research’s extensive database is used by Fortune 500 companies to understand the regional as well as the global business environment.
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