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The global fertilizer market exhibited moderate growth during 2015-2020. A fertilizer is a chemical mixture that is added into the soil for supplying essential nutrients for the growth of farm crops. Organic and inorganic variants are the most common types of fertilizers available in the market. Organic fertilizers are manufactured using carbon-based agricultural waste, livestock manure, industrial waste and municipal sludge. On the other hand, inorganic variants are produced using various chemicals and secondary nutrients. They are primarily used to provide specific nutrients that are deficient in the soil and are a rich source of potassium, nitrogen, phosphorus and other nutrients that are crucial for sustainable food production and high crop yield. They also aid in maintaining soil fertility and improving its water retention capacity.
Significant growth in the agriculture sector, along with an increasing requirement for enhancing soil fertility and crop growth, is one of the key factors driving the growth of the market. In line with this, the widespread adoption of organic farming practices as a means of sustainable development to bridge the substantial demand and supply gap of food products is also providing a boost to the market growth. Additionally, the development of advanced farming techniques and increasing utilization of bio-fertilizers are acting as other major growth-inducing factors. Apart from this, expanding trade activities of crops and produce, especially with developing nations, are also creating a positive impact on the market. Other factors, including the implementation of favorable government policies promoting the usage of nano-fertilizers for the maintenance of flat green grounds and fields, coupled with increasing environmental consciousness across the globe, are anticipated to drive the market further. Looking forward, IMARC Group expects the global fertilizer market to grow at a CAGR of around 4% during 2021-2026.
IMARC Group provides an analysis of the key trends in each sub-segment of the global fertilizer market report, along with forecasts for growth at the global, regional and country level from 2021-2026. Our report has categorized the market based on region, product type, product, product form and crop type.
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The report has also analysed the competitive landscape of the market with some of the key players being 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.
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