Fertilizer Market Size, By Form (Dry, Liquid), By Product (Organic, Inorganic), By Application (Agriculture, Horticulture, Gardening), Industry Analysis Report, Regional Outlook, Growth Potential, Price Trends, Competitive Market Share & Forecast, 2020 – 2026

Published Date: Dec 2020  |  Report ID: GMI4577  |  Authors: Kiran Pulidindi, Akshay Prakash

Report Format: PDF   |   Pages: 400   |   Base Year: 2019

Summary Table of Contents Industry Coverage Methodology

Industry Trends

Fertilizer Market size was USD 196.9 billion in 2019 and will grow at a CAGR of 3.2% from 2020 to 2026. The ever-increasing global population and its growing demand for food will largely intensify the fertilizer demand for better crop production in restricted arable lands. Escalating global population and its demand for food will primarily drive revenue generation.

Fertilizer Market Statistics

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Fertilizer Market Report Coverage
Report Coverage Details
Base Year:2019Historical Data for:2016 to 2019
Market Size in 2019:196.9 Billion (USD)Forecast Period:2020 to 2026
Forecast Period 2020 to 2026 CAGR:3.2%No. of Pages:400
2026 Value Projection:207.8 Billion (USD) Tables, Charts & Figures:627
Geographies covered (23):U.S., Canada, Germany, UK, France, Spain, Turkey, Russia, Ukraine, Poland, China, India, Indonesia, Pakistan, Bangladesh, Malaysia, Thailand, Australia, Brazil, Mexico, South Africa, Egypt, Iran
Segments covered:Form, Product, Applications, Region
Growth Drivers:
  • Rising food demand
  • Growing demand of organic fertilizers
  • Emerging water-soluble fertilizer demand
Pitfalls & Challenges:
  • Lack of awareness about optimum usage of fertilizers
  • Increasing uncertainties and significant policy focus toward environment

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Population growth & food demand to surge product penetration

Increasing global demand for food owing to rising population along with climate changes and ineffective farming techniques has increased the need for yield efficiency worldwide. As per the U.S. Census Bureau, the global population estimates in 2019 were around 7.5 billion and are anticipated to reach over 9.7 billion by 2050. This trend features higher prerequisites for food that will drive the fertilizer market.

Fertilizers improve crop yield, allowing farmers to grow more food in restricted arable land and providing an impressive rate of profitability. For example, when 192 kg of nitrogen per hector is used, it is conceivable to produce grains of around 9.3 tons compared to around 2.1 tons without utilizing nitrogen fertilizers. The usage of nitrogen fertilizers resulted in around 790% quantifiable profit to the farmers. Thus, utilization of fertilizers improves the efficiency of yields and thereby supports farmers to generate higher income through effective cultivation.

Diminishing per capita arable land will empower industry growth

Increasing urbanization and industrialization globally have significantly decreased per capita arable land globally over recent years. The use of fertilizers in limited arable lands can improve soil fertility and texture, resulting in better harvest yield in a brief timeframe. According to The Resource Outlook to 2050, currently, over 1.5 billion hectares of the global land surface (i.e., around 12%) are utilized for crop harvest, where arable land per individual has declined by 1.5% from 1970 to 2009.

The decline increases pressure on the current arable land to yield more harvests using progressive fertilizers economically. The product improve soil fertility by varying water retention & aeration and provide extra supplements to the plants, augmenting fertilizer market growth. Nevertheless, excessive utilization of these fertilizers over an extended period may damage soil fertility and texture.

Cost-effective and easy storage to drive dry fertilizers growth

Fertilizer Market by Form

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Dry fertilizer form segment is estimated to exhibit over 3% CAGR during the forecast spell. Growth is attributed to the cost-effective and easy storage nature of dry fertilizers. These fertilizers can also form fertilizer blends by mixing different granular fertilizers in known proportions (e.g., 0-0-60, 12-61-0, and 18-46-0) and a proper ratio to create the desired blends.

Dry fertilizers are more efficient for heavy pre-plant applications as they offer slow-release options that help to feed crops longer into the season. However, non-uniform nutrient composition and high salt content can incinerate leaves and steer roots away from nutrients. These factors may limit the fertilizer market penetration over the forecast period.

Growing focus on organic farming will empower segment growth

Organic fertilizer market will witness around 7.5% CAGR by 2026. The segment includes plant-based, animal-based, and mineral-based products. Growth is attributed to the provision of slow feed for plants and improvement of plant water holding capacity in addition to soil structure and tilth.

These are available naturally, i.e., produced using materials derived from living things. In this manner, one can make organic fertilizers themselves or can be purchased. However, slow-release capability and unequal distribution of nutrients in organic fertilizers may slightly hinder their growth in the near-term. Nevertheless, the sustainable, biodegradable, renewable, and environmental-friendly nature of these fertilizers will positively propel the fertilizer market growth by 2026.

Fast implementation and easy adoption in the agricultural industry to drive growth

Fertilizer Market by Application

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In 2019, the agriculture industry generated over USD 80 billion in fertilizer market share. This can be attributed to increasing product demand from Asia Pacific, Africa, and Europe to produce barley, wheat, buckwheat, maize, millet, rice, paddy, etc. The usage of fertilizers in agricultural fields to supply the required elements (Nitrogen-phosphorous-potassium) that are found naturally in the soil will drive fertilizer use in agriculture applications by 2026.

Escalating population and its demand for food will surge the Asia Pacific region growth

Fertilizer Industry by Region

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In 2019, Asia Pacific held over 50% share and is likely to dominate the industry during the study period. The dominance is due to the increasing demand for fertilizers across the region, especially in India, China, Bangladesh, Pakistan, and Vietnam. Furthermore, growing investment inflows and government subsidies in the fertilizer sector will enhance the fertilizer market revenue in the region. For instance, the Government of India increased its subsidy allocation for fertilizers to over USD 11 million in 2019.

Geographic expansion is the major basis for business growth

The fertilizer market displays a high degree of competition among large manufacturers such as Nutrien Ltd. The Mosaic Company, CF Industries Holdings, Sumitomo Chemical Co., Ltd., Yara International, and Haifa Group.

Other prominent players in the fertilizer industry include Syngenta AG, Bunge Ltd., Belaruskali, OCP Group, and Uralkali. Several industry participants are expanding their regional reach to attain a competitive edge in the market. In September 2019, Yara International ASA partnered with Lantmännen to establish a pilot project for the development & production of mineral fertilizers. The products are expected to enter the market by 2022. This strategy enabled the company to enter into the mineral-based fertilizers segment.

The fertilizer market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons and revenue in USD million from 2016 to 2026 for the following segments:

By Form

  • Dry
  • Liquid

By Product

  • Organic
    • Plant-based fertilizers
    • Animal-based fertilizers
    • Mineral-based fertilizers
  • Inorganic
    • Nitrogen
      • Urea
      • Anhydrous ammonia
      • Ammonium nitrate
      • UAN solutions
      • Ammonium sulfate
    • Phosphorus
      • Diammonium phosphate
      • Monoammonium phosphate
      • Triple superphosphate
      • Ordinary superphosphate
      • Ammonium polyphosphate
      • Others
    • Potassium
      • Potassium chloride
      • Potassium sulfate
      • Potassium nitrate

By Application

  • Agriculture
  • Horticulture
  • Gardening
  • Others

The above information is provided on a regional and country basis for the following:

By Region


  • North America
    • U.S.
    • Canada
  • Europe
    • Germany
    • UK
    • France
    • Spain
    • Turkey
    • Russia
    • Ukraine
    • Poland
  • Asia Pacific
    • China
    • India
    • Indonesia
    • Pakistan
    • Bangladesh
    • Malaysia
    • Thailand
    • Australia
  • Latin America
    • Brazil
    • Mexico
  • Middle East & Africa
    • South Africa
    • Egypt
    • Iran

Frequently Asked Questions (FAQ) :

The global market for fertilizers was pegged at USD 196.9 billion in 2019 and will witness around 3.2% CAGR through 2026 owing to increased demand for food and improved crop production.
Dry form fertilizer industry share is expected to register more than 3% CAGR up to 2026 due to the cost-effectiveness and easy to store nature of these products.
Global organic fertilizer demand share is anticipated to record about 7.5% CAGR over 2020-2026 owing to better plant water holding capacity provided and a eco-friendly, biodegradable nature.
With increase in the demand from Europe, Africa and Asia Pacific, the fertilizer industry share from agriculture segment was projected to reach USD 80 billion in 2019.
Asia Pacific accounted for more than 50% of the global share and will witness a steady growth owing to rise in investments and government subsidies in the sector.

Premium Report Details

  • Published Date: Dec 2020
  • Pages: 400
  • Tables: 599
  • Charts / Figures: 28
  • Companies covered: 17
  • Countries covered: 23

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