Global Fertilizer Market to Reach US$ 236.9 Billion by 2032, Impelled by Increasing Demand for Food

February 17, 2023 | Agriculture

According to the latest report by IMARC Group, titled "Fertilizer Market Report by Product Type (Chemical Fertilizer, Biofertilizers), Product (Straight Fertilizers, Complex Fertilizers), Product Form (Dry, Liquid), Crop Type (Grains and Cereals, Pulses and Oilseeds, Fruits and Vegetables, Flowers and Ornamentals, and Others), and Region 2024-2032," the global fertilizer market size reached US$ 176.4 Billion in 2023. A fertilizer is a chemical substance put on land or soil to make plants grow better and enhance crop yield. It promotes the growth and productivity of plants and provides them with essential nutrients. It contains vital nutrients plants need, including nitrogen, potassium, and phosphorus. It also improves the soil's water retention capacity. It is mainly classified into two main types, organic and inorganic fertilizers. Organic fertilizers are natural fertilizers derived from plants and animals. It boosts the amount of organic matter in the soil, encourages microbial reproduction, and alters the soil's physical and chemical composition. On the other hand, inorganic fertilizers are chemical fertilizers generated by synthetic techniques. Fertilizer is easy to transport, store, and apply and can easily dissolve in the soil. It is predictable and reliable and has a rapid effect on the crops.

Global Fertilizer Market Trends:

The global market is majorly driven by the rapid growth in population, followed by the changing dietary habits among the masses in developed and developing countries. In line with this, the increasing requirement for enhanced soil nutrients and crop yield is significantly contributing to the product demand. Furthermore, the rising penetration of organic fertilizers and significant growth in the agriculture industry are positively influencing the market. Apart from this, the emerging demand for water–soluble fertilizers and the growing demand for food globally are catalyzing the market. Moreover, several government and non-government organizations worldwide are raising awareness about the benefits of fertilizer and its favorable impact on agricultural output. This is expected to create a positive outlook for the market. Besides, inflating incomes of the individuals residing in rural areas and the ease and quick availability of credit are anticipated to propel the market expansion. Additionally, several key market players are forming strategic alliances and opting for joint ventures to expand their product portfolio. Some of the other factors driving the market growth include rapid urbanization, significant growth in the horticulture industry, and heavy investments in research and development (R&D) activities. On account of the factors above, the market is anticipated to reach a value of US$ 236.9 Billion by 2032, exhibiting a CAGR of 3.2% during 2024-2032. 

Market Summary:

  • On the basis of the product type, the market has been categorized into chemical fertilizers and biofertilizers. Among these, chemical fertilizers exhibit a clear dominance in the market.
  • Based on the product, the market has been classified into straight fertilizers (nitrogenous fertilizers [urea, calcium ammonium nitrate, ammonium nitrate, ammonium sulfate, anhydrous ammonia, and others], phosphatic fertilizers [Mono-Ammonium Phosphate (MAP), Di-Ammonium Phosphate (DAP), Single Super Phosphate (SSP), Triple Super Phosphate (TSP), and Others], potash fertilizers [Muriate of Potash (MoP) and Sulfate of Potash (SoP)], secondary macronutrient fertilizers [calcium fertilizers, magnesium fertilizers, and sulfur fertilizers], micronutrient fertilizers [zinc, manganese, copper, iron, boron, molybdenum, and others], and complex fertilizers. Currently, straight fertilizers account for the majority of the total market share.
  • Based on the product form, the market has been segmented into dry and liquid, wherein dry fertilizers hold the leading market segment.
  • Based on the crop type, the market has been categorized into grains and cereals, pulses and oilseeds, fruits and vegetables, flowers and ornamentals, and others, wherein grains and cereals hold the majority of the overall market share.
  • On the basis of the region, the market has been divided into North America (the United States and Canada), Asia Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others), Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others), Latin America (Brazil, Mexico, and others) and the Middle East and Africa. Currently, Asia Pacific holds the leading position in the market.
  • The competitive landscape of the market has been studied in the report with detailed profiles of the key players operating in the market. Some of the key players include CF Industries Holdings, Inc., Haifa Group, Indian Farmers Fertiliser Cooperative Limited (IFFCO), Israel Chemicals Ltd. (ICL), Nutrien Limited, Sociedad Química y Minera (SQM), The Mosaic Company, Uralkali PJSC, and Yara International.

Report Coverage:

Report Features Details
Base Year of the Analysis 2023
Historical Period 2018-2023
Forecast Period 2024-2032
Units US$ Billion
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
Customization Scope 10% Free Customization
Report Price and Purchase Option Single User License: US$ 2499
Five User License: US$ 3499
Corporate License: US$ 4499
Post-Sale Analyst Support 10-12 Weeks
Delivery Format PDF and Excel through Email (We can also provide the editable version of the report in PPT/Word format on special request)

About Us:

IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

Contact Us:

134 N 4th St.
Brooklyn, NY 11249, USA
Americas:- +1 631 791 1145 | Africa and Europe :- +44-753-713-2163 | Asia: +91-120-433-0800

Need more help?

  • Speak to our experienced analysts for insights on the current market scenarios.
  • Include additional segments and countries to customize the report as per your requirement.
  • Gain an unparalleled competitive advantage in your domain by understanding how to utilize the report and positively impacting your operations and revenue.
  • For further assistance, please connect with our analysts.
Global Fertilizer Market to Reach US$ 236.9 Billion by 2032, Impelled by Increasing Demand for Food
Purchase options

Benefits of Customization

Personalize this research

Triangulate with your data

Get data as per your format and definition

Gain a deeper dive into a specific application, geography, customer, or competitor

Any level of personalization

Get in Touch With Us

Phone: +1-631-791-1145


Phone: +91-120-433-0800


Phone: +44-753-713-2163


Client Testimonials

Aktive Services

IMARC made the whole process easy. Everyone I spoke with via email was polite, easy to deal with, kept their promises regarding delivery timelines and were solutions focused. From my first contact, I was grateful for the professionalism shown by the whole IMARC team. I recommend IMARC to all that need timely, affordable information and advice. My experience with IMARC was excellent and I can not fault it.

Read More
Greenfish S.A.

The IMARC team was very reactive and flexible with regard to our requests. A very good overall experience. We are happy with the work that IMARC has provided, very complete and detailed. It has contributed to our business needs and provided the market visibility that we required

Read More
Colruyt Group

We were very happy with the collaboration between IMARC and Colruyt. Not only were your prices competitive, IMARC was also pretty fast in understanding the scope and our needs for this project. Even though it was not an easy task, performing a market research during the COVID-19 pandemic, you were able to get us the necessary information we needed. The IMARC team was very easy to work with and they showed us that it would go the extra mile if we needed anything extra

Read More

Last project executed by your team was as per our expectations. We also would like to associate for more assignments this year. Kudos to your team.

Read More
Zee Media Corp. Ltd.

We would be happy to reach out to IMARC again, if we need Market Research/Consulting/Consumer Research or any associated service. Overall experience was good, and the data points were quite helpful.

Read More
Arabian Plastic Manufacturing Company Ltd.

The figures of market study were very close to our assumed figures. The presentation of the study was neat and easy to analyse. The requested details of the study were fulfilled. My overall experience with the IMARC Team was satisfactory.

Read More
Sumitomo Corporation

The overall cost of the services were within our expectations. I was happy to have good communications in a timely manner. It was a great and quick way to have the information I needed.

Read More
Hameln Rds

My questions and concerns were answered in a satisfied way. The costs of the services were within our expectations. My overall experience with the IMARC Team was very good.

Read More
Quality Consultants BV

I agree the report was timely delivered, meeting the key objectives of the engagement. We had some discussion on the contents, adjustments were made fast and accurate. The response time was minimum in each case. Very good. You have a satisfied customer.

Read More
TATA Advanced Systems Limited

We would be happy to reach out to IMARC for more market reports in the future. The response from the account sales manager was very good. I appreciate the timely follow ups and post purchase support from the team. My overall experience with IMARC was good.

Read More

IMARC was a good solution for the data points that we really needed and couldn't find elsewhere. The team was easy to work, quick to respond, and flexible to our customization requests.

Read More