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 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 Industry Definition and Application:
Fertilizer is a mixture of natural and artificial substances that provide adequate nutrients to plants. It is applied to seeds, plant surfaces, soil, and the interior of different plants to grow fruits, vegetables, grains, pulses, cereals, and other commercial crops. It is made using livestock manure, carbon-based agricultural waste, industrial waste, municipal sludge and chemical substances. It consists of nitrogen, potassium, phosphorus, and other essential nutrients that support the development of farm crops while improving the crop yield capacity. It aids in balancing nutrient levels to improve the productivity of the plant and enhance the water retention and fertility capacity of the soil.
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.
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Global Fertilizer Market Trends and Drivers:
The rising global population and the surging demand for food and crops represent one of the major factors currently driving the demand for fertilizers to improve soil fertility and crop production around the world. Moreover, several organizations and institutions in numerous countries are offering webinars, training programs, academic courses, and educational programs, to increase interest and encourage farmers and other enthusiasts to use fertilizers in farming. In addition, due to rising environmental concerns, initiatives are being undertaken by governments of several countries to promote sustainable agriculture practices like the utilization of biofertilizers that offer improved soil fertility with reduced pollution levels and enhanced economic efficiency. Furthermore, significant investment in research and development (R&D) operations to develop superior fertilisers and produce higher yields is expected to fuel market expansion in the future years.
Apart from this, the rising need for self-gardening on account of the improving lifestyles and the surging need for maintaining the aesthetics of outdoor spaces is facilitating the growth of the market. Furthermore, the rising adoption of biofertilizers on account of the declining arable land, growing food security concerns, and the increasing awareness about the harmful effects of chemical-based fertilizers are creating a positive outlook for the market. The rising adoption of water-soluble, N, P, K, and micronutrient fertilizers are offering lucrative growth opportunities to market players operating in the industry. Besides this, rising instances of droughts, floods, and other natural disasters across the globe are resulting in the increasing adoption of indoor agriculture, which, in turn, is propelling the growth of the market. This, coupled with the rising adoption of organic farming and the growing consumer preferences toward organic food products, is influencing the market positively. The increasing health consciousness among individuals is also favoring the market growth.
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Global Fertilizer Market 2022-2027 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
Some of the top fertlizer companies in World
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:
Breakup by Product:
Breakup by Product Form:
Breakup by Crop Type:
Grains and Cereals
Pulses and Oilseeds
Fruits and Vegetables
Flowers and Ornamentals
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
Key highlights of the report:
Market Performance (2016-2021)
Market Outlook (2022- 2027)
Porter’s Five Forces Analysis
Market Drivers and Success Factors
Comprehensive Mapping of the Competitive Landscape
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