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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.
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.
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 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:
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 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:
Presently, grains and cereals dominate the market as they are widely consumed across the globe.
Breakup by Region:
Currently, Asia Pacific represents the leading market on account of the increasing global population and the thriving agriculture industry in the region.
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.
|Base Year of the Analysis||2021|
|Segment Coverage||Product Type, Product, Product Form, Crop Type, Region|
|Region Covered||Asia Pacific, Europe, North America, Latin America, Middle East and Africa|
|Countries Covered||United States, Canada, Germany, France, United Kingdom, Italy, Spain, Russia, China, Japan, India, South Korea, Australia, Indonesia, Brazil, Mexico|
|Companies Covered||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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The global fertilizer market was valued at US$ 163.2 Billion in 2021.
We expect the global fertilizer market to exhibit a CAGR of 3.9% during 2022-2027.
The emergence of advanced farming techniques, coupled with the increasing utilization of bio-
fertilizers for soil fertility and crop growth, is primarily driving the global fertilizer market.
The sudden outbreak of the COVID-19 pandemic had led to the implementation of stringent
lockdown regulation across several nations, resulting in the temporary halt in various agricultural
activities, thereby limiting the demand for fertilizers.
Based on the product type, the global fertilizer market has been divided into chemical fertilizer and
biofertilizers, where chemical fertilizers account for the majority of the total market share.
Based on the product, the global fertilizer market can be segmented into straight fertilizers and
complex fertilizers. Currently, straight fertilizers represent the largest market share.
Based on the product form, the global fertilizer market has been bifurcated into dry and liquid,
where dry fertilizers exhibit clear dominance in the market.
Based on the crop type, the global fertilizer market can be segregated into grains and cereals, pulses
and oilseeds, fruits and vegetables, flowers and ornamentals, and others. Among these, grains and
cereals currently hold the majority of the total market share.
On a regional level, the market has been classified into North America, Europe, Asia Pacific, Middle
East and Africa, and Latin America, where Asia Pacific currently dominates the global market.
Some of the major players in the global fertilizer market include 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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