Fertilizer Market

Fertilizer Market witnessed USD 972.4 Billion in 2022, growing at a robust CAGR of 5% during forecast period and is predicted to reach USD 1,436.7 Billion in 2030.

Overview of the Fertilizer Market Report

Fertilizer refers to the chemical substance that is supplied to the crops with an aim to accelerate productivity. These products are used by the farmers on a daily basis and help in increasing the overall crop yield. They offer numerous benefits such as easy to transport, store, and apply, provides specific nutrients, are water-soluble, and improves crop yield. The global fertilizer market basically covers organic and inorganic products.

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Market Dynamic

Key Drivers and Emerging Trends

Accelerating population, changing dietary habits, and growing need for sustainable food production are some prominent factors fueling the fertilizer market size. According to the United Nations, by 2050, the global population will exceed nine billion. In addition, various government and non-government organizations have initiated campaigns to spread awareness about fertilizers and their impact on agriculture productivity, driving the market growth. Rising penetration of organic fertilizers to improve the crop yield and improve soil nutrients, increasing demand for N, P, K and micronutrient fertilizers will complement the market growth.
As per the Fertilizer Market Report, Factors including accelerating rural incomes, adoption of innovative farming techniques, easy credit availability, and the growing use of bio-fertilizers aided by the growing environmental concern are projected to expand the market growth over the coming years. Moreover, the reduction in total fertile land, owing to the rapid industrialization has increased the need for fertilizers to improve soil texture and fertility, which will strengthen the Fertilizer Market Share. As per reports, the per capita arable land area is expected to decline to 0.18 ha by 2050 across the world, compared to 0.15 ha in developing countries. However, the adverse impact of fertilizers on the consumers and environment along with the regulatory constraints will restrain the global Fertilizer Market growth.

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Form – Segment Analysis

Based on the form, the dry fertilizers segment is predicted to grow at a faster CAGR during the forecast period. This is mainly due to the various advantages offered by it, such as high cost-effectiveness and easy storage nature of the dry fertilizers. This type of fertilizer comes in different form blends, which are formed by mixing granular fertilizers known as proportions. Furthermore, the dry fertilizers are highly efficient for heavy pre-plant applications as they provide a slow-release option, thus helping the yields to have a longer lifespan.

Product – Segment Analysis

Based on the product, the organic fertilizer segment is predicted to dominate the market over the forecast period. The organic fertilizer is made from natural materials i.e. produced derived using living things. The biodegradable, renewable, environment-friendly, and sustainable nature of these fertilizers is a key driver that is growing the demand of the segment.

Application – Segment Analysis

Based on the application, the agriculture segment is expected to grow at a higher CAGR during the forecast period. The food demand for fertilizers that can be used in the agriculture sector, particularly from the APAC, Europe, and Africa, for the production of wheat, rice, paddy, and other crops is a factor that is opening new growth opportunities for the segment.

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Regional – Segment Analysis

Based on the region, Asia-pacific region is anticipated to dominate the market during the forecast period. The Asian countries amounts for 60% of the fertilizer market and China is one of the largest consumers. Rice is the biggest nitrogen-consuming crop due to the increasing concern related to the current pattern of fertilizer usage. The growing dependency on nitrogenous fertilizers due to the decreasing soil fertility is further opening new doors for the regional market growth.  There has been a drastic increase in the demand for fertilizers especially from India, China, Bangladesh, and Vietnam. The government of the Asian countries are heavily investing in the agriculture sector to increase the yield productivity. For example, the Indian government increased its subsidy allocation of fertilizers to USD 11 million in 2019.

Top Market Players

Various notable players operating in the market include Haifa Group, Yara, Nutrien Ltd., Mosaic, CF Industries Holdings, Inc., Bunge Limited, Syngenta AG, Israel Chemicals Ltd. (ICL), Sumitomo Chemical Co., Ltd., IFFCO, among others. 

Key Developments:

• • In 2021, Yara acquired Finish colan to expand it organic fertilizer business which shows company’s dedication to server a bigger role in organic fertilizer business.
  • In 2020, Yara East Africa launched a micronutrient fertilizer, Yara Microp, to raise maize yields in Western Kenya. Yara Microp is incorporated with nitrogen, phosphorus, sulfur, ammoniacal nitrogen, and zinc, to help maize crops grow faster and produce higher yields.
  • In 2020, Haifa Group introduced a new range of plant supplements known as the “HaifaStim”. It includes wide range of products that are formulated to increase the plant’s environment and support its physiological growth process.

Fertilizer Market Segmentation Covered in the Report:

The global Fertilizer market has been segmented based on form, product, application, and regions. Based on form, the market is segmented into dry and liquid. Based on product, the market is segmented into organic and inorganic. The organic is further segmented into plant-based fertilizer, animal-based fertilizer, and mineral-based fertilizer. The inorganic product is further segmented into nitrogen, phosphorus, and potassium. Based on application, the market is segmented into agriculture, horticulture, gardening, and others. 

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Key questions answered in this research report:

• • At what pace is global Fertilizer market growing? What will be the growth trend in the future?
  • What are the key drivers and restraints in fertilizer market? What will be the impact of drivers and restraints in the future?
  • What are the regional revenues and forecast breakdowns? Which are the major regional revenue pockets for growth in the global fertilizer market?
  • Which form generated maximum revenues in 2019 and identify the most promising form during the forecast period?
  • What are the various product areas of global fertilizer market and how they are poised to grow?
  • What companies are the major participants in this market and their business strategies, how does the competitive landscape look like?

Market Segmentation

Global Fertilizer Market by Form

• • Dry
  • Liquid

Global Fertilizer Market by Product

• • Organic
    • Plant-based fertilizer
    • Animal-based fertilizer
    • Mineral-based fertilizer
  • Inorganic
    • Nitrogen
    • Phosphorus
    • Potassium

Global Fertilizer Market by Application

• • Agriculture
  • Horticulture
  • Gardening
  • Others

Global Fertilizer Market by Region

• • North America Fertilizer Market (Option 1: As a part of the free 25% customization)

    • By Form
    • By Product
    • By Application
    • US Market All-Up
    • Canada Market All-Up

  • Europe Fertilizer Market (Option 2: As a part of the free 25% customization)

    • By Form
    • By Product
    • By Application
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up

  • Asia-Pacific Fertilizer Market (Option 3: As a part of the free 25% customization)

    • By Form
    • By Product
    • By Application
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

  • RoW Fertilizer Market (Option 4: As a part of the free 25% customization)

    • By Form
    • By Product
    • By Application
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Fertilizer (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Hafia Group
  • Yara
  • Nutrien Ltd.
  • Mosaic
  • CF Industries Holdings, Inc.
  • Bunge Limited
  • Syngenta AG
  • Israel Chemicals Ltd. (ICL)
  • Sumitomo Chemical Co., Ltd.,
  • IFFCO