According to the recent report by IMARC Group, titled “Fertilizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” The global fertilizer market Size reached a value of US$ 163.2 Billion in 2021. Looking forward, IMARC Group expects the market to reach US$ 203.5 Billion by 2027, exhibiting a CAGR of 3.9% during 2022-2027.
Fertilizer represents an additional mixture applied to the soil or plant tissue to provide essential nutrients for growing farm-based crops. They can be broadly classified into organic and inorganic variants. Organic fertilizers are mainly manufactured with carbon-based agricultural waste, livestock manure, industrial waste, municipal sludge, etc., whereas inorganic variants are produced using different chemicals and secondary nutrient sources. Fertilizers are typically utilized to supply specific nutrients that are deficient in the soil, such as potassium, nitrogen, phosphorus, etc. It also aids in maintaining the fertility of the soil and improving its water retention capacity.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Fertilizer Market Trends:
The expanding agriculture sector, coupled with the escalating adoption of organic and farm-fresh food products, is primarilydriving the demand for fertilizers. Moreover, the growing consumption of plant-based food sources is further augmenting the need for fertilizers to enhance soil fertility and improving crop growth. Additionally, the emergence of bio-fertilizers due to the rising concerns towards the negative impact of chemical-based fertilizers on soil quality is also positively influencing the global market. Furthermore, the implementation of favorable government policies promoting the use of nano-fertilizers and the development of advanced farming techniques will continue to stimulate the growth of the global fertilizer market over the forecasted period.
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Global Fertilizer Market 2022-2027 Analysis and Segmentation:
Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
CF Industries, Haifa Group, Indian Farmers Fertiliser Co-operative Limited (IFFCO), Israel Chemicals Ltd. (ICL), Nutrien Limited, Sociedad Química y Minera (SQM), The Mosaic Company, Uralkali and Yara International.
The report has segmented the market on the basis on on region, product type, product, product form and crop type.
Breakup by Product Type:
Chemical Fertilizer
Biofertilizers
Breakup by Product:
Straight Fertilizers
Complex Fertilizers
Breakup by Product Form:
Dry
Liquid
Breakup by Crop Type:
Grains and Cereals
Pulses and Oilseeds
Fruits and Vegetables
Flowers and Ornamentals
Others
Breakup by Region:
North America: (United States, Canada)
Asia Pacific: (China, Japan,India, South Korea, Australia, Indonesia, Others)
Europe: (Germany, France,United Kingdom, Italy, Spain, Russia, Others)
Latin America: (Brazil, Mexico, Others)
Middle East and Africa
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