Utility Markers Market to Grow Owing to Increasing Demand for Organic Food Products

 

Utility Markers Market

The utility markers market has witnessed significant growth over the past few years owing to increasing demand for organic and sustainable food products globally. Utility markers help farmers clearly demarcate and label their organic farms and sections to ensure compliance with organic certification regulations. Key functions of utility markers include outlining fields, indicating rows, and identifying crops and harvest zones. The increased focus on sustainable and environment-friendly farming practices has boosted adoption of utility markers amongst smallholder and commercial organic farmers.

The global utility markers market is estimated to be valued at US$ 6.42 billion in 2024 and is expected to exhibit a CAGR of 8.0% over the forecast period 2024 to 2031.

Growing health consciousness and demand for chemicals-free food is a major driver increasing organic farmland worldwide which is supporting utility markers market expansion. Utility markers have emerged as an affordable and effective solution to comply with organic certification requirements and facilitate efficient farm management for organic farmers.

Key Takeaways

Key players operating in the Utility Markers Market Demand are Picks Organic Farm, Organic Farmers Co., The Indian Organic Farmers Producer Company Limited (IOFPCL), Bayer AG, Camson Bio Technologies Limited, and ZUWA Organic Farms Pvt. Ltd among others. Picks Organic Farm is a leading provider of biodegradable and recyclable utility markers globally. Organic Farmers Co. offers a wide range of customized utility markers suitable for smallholder and commercial organic farms.

The key opportunities in the utility markers market include growing organic farmland in developing economies of Asia and Africa. Expanding distribution networks across Latin America and Europe will further aid market access for utility markers manufacturers. Rising investments and government support for organic agriculture and initiatives like contract farming present new avenues for revenue growth in the coming years.

Major utility markers manufacturers are focusing on global expansion through partnerships, mergers, and acquisitions. For instance, Camson Bio Technologies recently acquired U.K. based Smith Organic Supplies to strengthen its presence in the European market. ZUWA has collaborations with NGOs and farmer-producer organizations in countries like India, Kenya, and Nigeria to distribute affordable utility markers and support organic smallholder farms.

Market Drivers
Increasing global area under organic cultivation- The global area of organic agricultural land has grown steadily at an average annual rate of over 8% during the last 15-20 years. Growing from 11 million hectares in 1999 to 73.3 million hectares in 2018. Expansion in organic farmland drives demand for products such as utility markers.

Higher profitability of organic farming- On an average, the net profit from organic farming is 20-30% higher than conventional farming depending on the region and crop. The added revenue incentives motivate more farmers to adopt organic practices and use tools like utility markers.

Market Restrain
High initial certification and compliance costs- The costs associated with organic certification and compliance with standards/regulations such as record keeping, inspections etc are substantially higher than conventional farming. This acts as a barrier, especially for smallholder farmers in adopting organic methods and utility solutions.

Lack of awareness in developing markets- Compared to developed markets, awareness about organic farming benefits and certification requirements is still quite low in parts of Asia Pacific and Africa. This hinders widespread adoption of tools like utility markers needed for organic farm management and compliance in such regions currently.

Segment Analysis
The utility markers market is dominated by permanent markers sub-segment which holds around 35% share of the total market. This is because permanent markers provides long lasting ink which does not fade away easily making them ideal for daily use on whiteboards, flipcharts, poster, paper etc. The dry erase markers sub-segment holds around 30% share and is the fastest growing segment due to rising use of whiteboards for presentations in corporate offices, schools and other institutions. Highlighters sub-segment forms around 20% share due to usage for highlighting important texts in books, notes etc.

Global Analysis
The North American region dominates the global utility markers market with around 40% share primarily due to well established corporate and education sector which drives the usage of whiteboards and markers. The region is expected to continue its dominance during the forecast period also due to sustained growth in these end use industries. The Asia Pacific region holds around 30% share and is expected to witness highest growth during the forecast period. This is mainly because of rapidly growing education and commercial sectors in emerging countries of China and India along with rising disposable income which is increasing the adoption of utility markers in the region.

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