Market Overview:

The global fertilizer market 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. Keeping in mind the uncertainties of COVID-19, we are continuously tracking and evaluating the direct as well as the indirect influence of the pandemic. These insights are included in the report as a major market contributor.

Fertilizers are chemical substances added to the soil for promotinghealthy growth among farm crops. They are manufactured using carbon-based agricultural waste, livestock manure, industrial waste, and municipal sludge. They contain nutrients and microbes, such as phosphorus, potassium, and nitrogen,which are essential for efficient plant growth. They enhance the water retention capacity and natural fertility of the soil by altering the pH level or replacing chemical elements. They also aid in destroying pathogenic components responsible for crop failure and spreading diseases in plants. Presently, fertilizers are available in nitrogenous, phosphatic, potash, and micronutrient variants that can be applied to a wide variety of grains, pulses, cereals, oilseed, fruits and vegetables, and commercial crops.

Fertilizer Market Trends:

The rising global population and the increasing need for sustainable food production are among the key factors positively influencing the use of fertilizersto enhance soil fertility and crop growth. Apart from this, governmentsof numerous countries, along with non-government organizations (NGOs), are introducing awareness programs and rural workshops to educate farmers about the usage and benefits of fertilizers in farming. Thisis offering lucrative growth opportunities to manufacturers operating in the industry. Furthermore, the launch of nano-fertilizers (NFs) that help maintain flat green grounds and fieldsis providing a favorable market outlook. Apart from this, the widespread adoption of advanced farming techniques and the increasing utilization of bio-fertilizers on account of the rising environmental consciousness are other significant factors influencing the market positively. Moreover, the escalating demand for water-soluble and N, P, K, and micronutrient fertilizers, coupled with technological advancements, is anticipated to propel the market growthacross the globe.

Key Market Segmentation:

IMARC Group provides an analysis of the key trends in each sub-segment of the global fertilizer market, along with forecasts at the global, regional and country level from 2022-2027. Our report has categorized the market based on product type, product, product form and crop type.

Breakup by Product Type:

• Chemical Fertilizer
• Biofertilizers

Chemical fertilizers currently hold the largest market share as they are used to maintain the shortage of nitrogen, phosphorus, and potassium in the soil.

Breakup by Product:

• Straight Fertilizers
  • Nitrogenous Fertilizers
    • Urea
    • Calcium Ammonium Nitrate
    • Ammonium Nitrate
    • Ammonium Sulfate
    • Anhydrous Ammonia
    • Others
  • Phosphatic Fertilizers
    • Mono-Ammonium Phosphate (MAP)
    • Di-Ammonium Phosphate (DAP)
    • Single Super Phosphate (SSP)
    • Triple Super Phosphate (TSP)
    • Others
  • Potash Fertilizers
    • Muriate of Potash (MoP)
    • Sulfate of Potash (SoP)
  • Secondary Macronutrient Fertilizers
    • Calcium Fertilizers
    • Magnesium Fertilizers
    • Sulfur Fertilizers
  • Micronutrient Fertilizers
    • Zinc
    • Manganese
    • Copper
    • Iron
    • Boron
    • Molybdenum
    • Others
• Complex Fertilizers

At present, straight fertilizers dominate the market as they are organic materials added to fertilizer mixtures during their preparation for reducing hygroscopicity.

Breakup by Product Form:

• Dry
• Liquid

Dry fertilizers holdthe majority of the global fertilizer market share as they are easy to store and more efficient for heavy pre-plant applications.

Breakup by Crop Type:

• Grains and Cereals
• Pulses and Oilseeds
• Fruits and Vegetables
• Flowers and Ornamentals
• Others

Presently, grains and cereals dominate the market as they are widely consumed across the globe.

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
   

Currently, Asia Pacific represents the leading market on account of the increasing global population and the thriving agriculture industry in the region.

Competitive Landscape:

The competitive landscape of the market has been analyzed in the report, along with the detailed profiles of the major players operating in the industry. Some of these players areCF IndustriesHoldings, Inc., Haifa Group, Indian Farmers Fertiliser Cooperative Limited (IFFCO), Israel Chemicals Ltd. (ICL), Nutrien Limited, SQM S.A., The Mosaic Company, Uralkali PJSC, and Yara International ASA.

Report Coverage: