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Fertilizer Market Size, By Form (Dry, Liquid), By Product (Organic, Inorganic), By Application (Agriculture, Horticulture, Gardening), Industry Analysis Report, Regional Outlook, Growth Potential, Covid-19 Impact Analysis, Competitive Landscape & Forecast, 2022 – 2030

  • Report ID: GMI4577
  • Published Date: May 2022
  • Report Format: PDF

Industry Overview

Fertilizer Market Size surpassed USD 190 billion in 2020 and will grow at a CAGR of 2.6% from 2022 to 2030. Growing population followed by changing dietary habits in developed as well as developing nations to contribute growth of fertilizer industry over the coming years. The market size is projected to reach 545,346.5 Kilo Tons while recording a CAGR of 2.4% in terms of volume.

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Natural and synthetic fertilizers are used to plant tissues or soil to provide one or more nutrients to plants that are required for their growth. Increasing need for enhanced soil nutrients coupled with increased crop yield are expected to further increase demand for fertilizers over the forecast period. Growing penetration of organic fertilizers are expected to encourage farmers to use fertilizers more efficiently and safely.

The worldwide agricultural industry is confronted with numerous issues. According to the United Nations, by 2050, the world population will have surpassed nine billion people. This will put a lot of pressure on the agricultural business, which is already suffering from a loss of productivity due to manpower shortages and the shrinkage of agricultural fields as a result of rapid urbanization. According to the Food and Agriculture Organization, more than 70% of the world's population will live in cities by 2050. Farmers are being forced to use fertilizers to enhance their agricultural output due to a loss of arable land across the globe.

Around the world, several government and non-government organizations are raising awareness about fertilizer use and its favorable impact on agricultural output. The fertilizer market is predicted to benefit from the promotion of fertilizers through radio, television, and rural centers. Furthermore, rising rural incomes, as well as the ease and quick availability of credit, are expected to boost revenue generation. Lack of understanding about fertilizer usage, are having a harmful influence on soil and human health. Farmers prefer to overuse fertilizers in order to boost their yield, which is harmful to the environment. The absence of personal safety kits for handling and applying fertilizers has a negative impact on the human body.

Dry fertilizers dominated the market expansion

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The dry fertilizers market size is expected to cross USD 200 billion by 2030. Fertilizers that are dry or granular are easier to store and do not require particular storage conditions. The majority of the time, they are kept at room temperature. In a cold environment, dry fertilizers do not settle out or salt out. For intensive pre-plant treatments, dry fertilizers are more effective. Dry fertilizers with polymer-coated urea are utilized because of their slow-release processes. Furthermore, buying dry fertilizers in bulk saves money. Growing agricultural production is expected to further increase dry fertilizers market concentration over the forecast period.

Organic fertilizers will follow an upward trajectory

Organic fertilizers will generate a product demand of around 11.5 million tons by 2030. In comparison to inorganic fertilizers, organic fertilizers are usually safer to use and are not as concentrated. Organic fertilizers are non-toxic and safe for the environment. They're thought to be the best fertilizers for a variety of plants and crops. Their regular application does not jeopardize the soil's biological balance and helps to improve soil fertility. Growing environmental awareness, as well as the negative consequences of employing inorganic or synthetic fertilizers, has aided many farmers in their transition to organic farming. Furthermore, the fertilizer market is likely to benefit from increased consumer demand for organic agricultural products.

Agriculture segment to dominate the industry

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The agriculture segment will generate over USD 100 billion by 2030. The fertilizer industry is likely to be driven by fertilizer applications in agricultural activities such as cultivating plants and basic food crops. Furthermore, increasing demand for rice, maize, wheat, millets, paddy, and barley in developed as well as developing economies would push fertilizer market in coming years. By 2030, fertilizer usage for agriculture applications will be driven using fertilizers in agricultural areas to replenish essential minerals present naturally in the soil, such as nitrogen, phosphorus, and potassium.

Asia Pacific to be the most lucrative region

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Asia Pacific dominates the fertilizer market and will witness around 2.5% CAGR over the forecast timeframe. Growing population followed by increasing demand for enhanced food production in China, India, Pakistan, Vietnam, and Bangladesh is expected to increase fertilizer market concentration in coming years. Several countries in the region are major exporters of agricultural products to all over the world. Every year, for example, Vietnam and Thailand export a record amount of rice. India, on the other hand, is expected to export over USD 4 billion worth of rice in 2020. Furthermore, an increase in foreign direct investment and government subsidies in the fertilizer sector will boost regional product demand.

Adoption of product portfolio expansion by various industry players

The global fertilizer sector is highly fragmented, with various well-established and small-scale fertilizer companies are operating in developed as well as developing economies. Because fertilizers are such a crucial instrument for increasing agricultural output, industry participants are forming strategic alliances and joint ventures to expand their geographic footprint and product portfolio. For example, in 2019, Haifa Group added 8,000 MTPA production capacity to its fertilizer production facility in France. The corporation was able to boost its production capacity by up to 24,000 MTPA thanks to this method. Yara International ASA paid USD 255 million for the Vale Cubato Fertilizantes Complex in Brazil in 2018. The company was able to improve its nitrogen production assets and market position in the Brazilian fertilizer industry as a result of this strategy.

Leading companies operating in this industry are CF Industries Holdings, Inc., GÜBRETA, Indian Farmers Fertiliser Cooperative Limited (IFFCO), Haifa Group, Syngenta AG, Unikeyterra, SQM S.A, Yara International ASA, Band?rma Gübre Fabrikalar? A.?., Sumitomo Chemical Co., Ltd., Gemlik Fertilizer, Israel Chemicals Ltd. (ICL), Bunge Limited, Inc., and Nutrien Ltd.

The fertilizer market report includes in-depth coverage of the industry with estimates & forecast in terms of volume in kilo tons & revenue in USD million from 2018 to 2030 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:

  • 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
Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

Global market for fertilizer value exceeded USD 190 billion in 2020 and is expected to grow at a CAGR of 2.6% between 2022 and 2030 owing to the increasing population and changing dietary habits.
Dry fertilizer market size is poised to surpass USD 200 billion until 2030 considering the rising agricultural production.
Asia Pacific fertilizer market revenue is estimated to record a CAGR of 2.5% through 2030 driven by the escalating demand for enhanced food production in Pakistan, India, China, Bangladesh, and Vietnam.
Prominent companies in the fertilizer industry comprise Syngenta AG, Indian Farmers Fertilizer Cooperative Limited (IFFCO), Sumitomo Chemical Co., Ltd., Yara International ASA, Bunge Limited, Inc., Haifa Group, and others.

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Premium Report Details

  • Base Year: 2021
  • Companies covered: 14
  • Tables & Figures: 538
  • Countries covered: 24
  • Pages: 300
  • Upcoming Report: Details can be customized to meet your information and data needs. Feel free to share your detailed research requirements via this form.

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