Trusted Business Insights answers what are the scenarios for growth and recovery and whether there will be any lasting structural impact from the unfolding crisis for the U.S. Seaweed Fertilizers market.
Trusted Business Insights presents an updated and Latest Study on U.S. Seaweed Fertilizers Market 2020-2029. The report contains market predictions related to market size, revenue, production, CAGR, Consumption, gross margin, price, and other substantial factors. While emphasizing the key driving and restraining forces for this market, the report also offers a complete study of the future trends and developments of the market. The report further elaborates on the micro and macroeconomic aspects including the socio-political landscape that is anticipated to shape the demand of the U.S. Seaweed Fertilizers market during the forecast period (2020-2029).
It also examines the role of the leading market players involved in the industry including their corporate overview, financial summary, and SWOT analysis.
Get Sample Copy of this Report @ U.S. Seaweed Fertilizers Market 2020 and Forecast 2021-2027 Includes Business Impact Analysis of COVID-19
Report Overview: U.S. Seaweed Fertilizers Market
The U.S. Cmarket size was valued at USD 5.75 million in 2020 and is expected to expand at a compound annual growth rate (CAGR) of 4.9% from 2021 to 2027. Seaweed fertilizers are gaining prominence over the past few years as they are considered highly efficient sources of mineral ingredients. Initially, a large number of seaweeds biostimulant products were developed as they are rich in Cytokinins, auxins, gibberellins, amino acids, and complex sugars. Further research concluded that they also contain a sufficient concentration of inorganic elements such as nitrogen, phosphorous, potassium, and iron.
Increased research and product innovation aimed at developing products that suit large-scale applications are expected to play a major role in driving future demand. The agricultural revolution in the U.S. is expected to be beneficial for a large number of manufacturers of fertilizers that use natural ingredients. The industry in the U.S. is still in the nascent stage and is expected to remain so for the next couple of years. The import of seaweed products from the European countries is expected to grow steadily as the demand for the product increases.
The growth in imports is expected to be largely dependent on the growth of organic farming in the country. The number of organic farmers has grown by over 50% in the past three years, which presents a big opportunity for the local manufacturers of seaweed fertilizers. However, owing to the introduction of a large number of products over the last few years, farmers need to be made aware about the benefits of these products. The market positioning strategy adopted by industry participants is expected to play a major role in fueling the demand over the forecast period 2021-2027.
In terms of market penetration of seaweed fertilizers into the U.S. and their future prospects, California is currently the largest state and will continue to hold the position in the near future. The strong market position has been facilitated by proper awareness among farmers about eco-friendly products and adequate support of local governments. The growing adoption of organic farming techniques in the state is expected to play a major role in augmenting the product demand.
Texas and Wisconsin are the other major states showing massive potential for the growth of these organic products. The rise in hemp farming along with the growth of organic farming will generate the demand for seaweed fertilizers in these states. The number of organic farms in these states has also doubled in the past 10 years presenting a good opportunity for industry participants.
In terms of volume, liquid biofertilizers lead the seaweed fertilizers market with a share of 61.3% in 2019. This is attributed to ease of utilization and high effectiveness of the product in plant growth. Organic farming is an upcoming trend in the U.S., which has created lucrative opportunities for farmers, with the government providing subsidy-related advantages to promote such sustainable farming practices. With advancements in organic farming and gardening techniques, the importance of these fertilizers has significantly grown over the past couple of years.
Liquid seaweed products are increasingly being used due to their ease of application, wherein the liquid is added to watering systems and sprayed evenly on the plants to boost their growth, whereas utility of these fertilizer flakes are a part of routine farming practices. The powdered form of the product is incorporated into plantation systems at regular time intervals using irrigation systems for optimum results.
Furthermore, flakes or powders are increasingly gaining traction in the country due to their properties such as 100% solubility and resistance against drought, heat, and frost. In addition, their use reduces plant shock, promotes seed germination, and aids in higher nutrient uptake, which enhances the effectiveness of the applied fertilizer.
Furthermore, these seaweed flakes boost resistance to fungal attacks, insects, and aid in root development, which eventually enhances the fruiting and flowering capabilities of plants and promotes soil structure improvement by stimulating soil microorganisms. The powdered form is dissolved by stirring them with neutral water, which is thereafter applied with irrigation water or foliage spray. Additionally, post-dilution with water, powdered seaweed is applied with farm chemicals.
Application Insights: U.S. Seaweed Fertilizers Market
In terms of volume, the consumption of seaweed fertilizers in the U.S. farms recorded the largest point of application, with 1,179.31 tons of product utilized in 2019. The U.S. farming and gardening sectors have improved significantly over the past two decades due to constant monitoring of agrochemicals used in the country coupled with increasing product innovations carried out by crop care chemical and fertilizer manufacturing companies including seaweed fertilizer manufacturers. The rising trend of grow-your-own-food has led to the agricultural revolution in the country, which has promoted the adoption of various organic products in daily practices. Furthermore, from an environmental point of view, the use of organic products over their synthetic counterparts has led to the realization of sustainable farming and gardening practices across all states of the nation.
In 2018, it was cited by the National Gardening Association that around 35% of the U.S. households prefer growing their own vegetables and greens in community gardens or at home, which was observed to be a 200% hike from the recorded statistics in 2008. While food security remains a major problem in the country, coupled with factors such as obesity caused due to improper food habits, the association predicts that the household gardening culture in the U.S. shall reflect significant upward trends till 2023, majorly driven by the rising trend of grow-your-own-food revolution and inclination toward adopting healthy food habits.
Other common applications of seaweed fertilizers include boosting the growth of saplings and in turf care activities. Organic lawn care is an upcoming trend in the country which is backed by government regulations supporting the use of environment-friendly products and horticultural industry participants developing novel products to cater to the growing needs.
Household turf management has been of critical significance since ages in the U.S. and on average, the countrys residents annually invest around USD 17 billion on outdoor turf development. Seaweed extracts play an essential role in turf management as they provide important trace elements such as zinc oxide, magnesium, and iron to the lawn, thereby supporting healthy grass growth, resisting fungal infections, and enhancing root development.
State Insights: U.S. Seaweed Fertilizers Market
California held the largest market share of around 18% in 2019 and is anticipated to continue leading during the forecast period. California accounts for the largest agricultural sector share in U.S. with the industry driven by dairy products, cattle rearing, and cultivation of grapes, almonds, pistachios, strawberries, lettuce, floriculture, tomatoes, and oranges. According to the California Department of Food & Agriculture, in 2018, dairy products were the highest revenue generator with revenue of USD 6.37 billion; followed by grapes cultivation with USD 6.25 billion, almonds with USD 5.47 billion, and strawberries with USD 2.34 billion. The demand for organic crop care products, in the cultivation of fruits and vegetables such as oranges, strawberries, lettuce, tomatoes, and grapes, rose significantly in the country due to rise in sustainable farming practices.
Agricultural industry in the U.S. contributed to over USD 1.05 trillion in revenue to the country in 2017, wherein the overall agricultural sector included food, farming, and allied industries. More than 40% of the available land in the country is used for agricultural purposes, wherein cropland accounts for over 431.1 million acres of the overall farming space. With the advancement in farming practices and the growing trend of adopting organic farming methods, the countrys agriculture sector is fast moving towards adopting seaweed fertilizers across an array of crop cultivation. The inclination towards organic farming is also boosted by the support of the regional farming community and government aid in spreading awareness about the benefits of switching from synthetic fertilizers and crop care chemicals to seaweed fertilizers and other organic counterparts.
Iowa State is the largest producer of corn in the country. Seaweed based products are considered an essential commodity for farming corn in the country according to multiple research university studies. The Iowa Department of Agriculture & Land Stewardship recognizes corn and soybeans to be the two major crops produced in the state each year. Local farmers and farming communities in the area are aware of the importance of utilizing organic fertilizers over synthetics due to their advantages such as healthy soil conditions, maximum nutrient intake by crops, and more. These tendencies prevalent in the marketspace of Iowa are anticipated to have a positive impact on the consumption of seaweed fertilizer over the foreseeable future.
Key Companies & Market Share Insights: U.S. Seaweed Fertilizers Market
The industry is in its growing phase in the U.S. with companies such as Kelpak; TechnaFlora; MexiCrop USA Inc.; and Dr. Earth striving to introduce a new range of products to be recognized as the market leaders in terms of product innovation and development. Furthermore, companies such as SeaNutri LLC; OceanOrganics; and Hydrofarm Inc. are recognized as the key innovators in the country due to their number of patents registered and adaptation to technological interface to develop novel products.
The marketspace has significant differentiators that strategically improvises their business operations to set themselves apart from the rising competition. For instance, OceanOrganics has invested heavily in research and it has formulated its product portfolio based on insights gathered from local farmers. They have also achieved product differentiation by conducting research for both turf and agricultural processes. Also, Kelpak which has been a prominent player in the South Africa seaweed market is expanding into the U.S. It is expected to be one of the major players owing to its market experience and product innovation over the years.
Plan B Organics has adopted a multi-dimensional approach by developing an e-commerce website for the sale of its products. The e-commerce website along with its own branded products will help the company to increase its presence within the U.S. SeaNutri LLC has formed an alliance with an Indian manufacturer for the supply of seaweed fertilizer in U.S. AquaSap which was initially commercialized in India hit the stores in the U.S. in 2015 after conducting successful trials proving the efficiency of the product. Some of the prominent players in the U.S. seaweed fertilizers market include:
Key companies Profiled: U.S. Seaweed Fertilizers Market Report
- SeaNutri LLC
- Plan B Organics
- Dr. Earth Inc.
- FoxFarm Fertilizers, LLC
- Grow More Inc.
- Hydrofarm LLC
- Maxicrop USA, Inc.
- KIS Organics
This report forecasts volume and revenue growth at a country level and provides an analysis of the latest industry trends in each of the sub-segments from 2016 to 2027. For the purpose of this study, Trusted Business Insights has segmented the U.S. seaweed fertilizers market report on the basis of product form, application, and states:
Product Form Outlook (Volume, Tons; Revenue, USD Thousand, 2016 – 2027)
Application Outlook (Volume, Tons; Revenue, USD Thousand, 2016 – 2027)
Quick Read Table of Contents of this Report @ U.S. Seaweed Fertilizers Market 2020 and Forecast 2021-2027 Includes Business Impact Analysis of COVID-19
Trusted Business Insights
Media & Marketing Executive
Email Me For Any Clarifications
Connect on LinkedIn
Click to follow Trusted Business Insights LinkedIn for Market Data and Updates.
US: +1 646 568 9797
UK: +44 330 808 0580