The global fertilizer market is estimated to expand at a CAGR of around 4% during the forecast period, from 2020 to 2026. The growth of the market is attributed to the rising demand for food.
Fertilizers are synthetic or natural substances that are used to promote the growth of plants and improve their fertility. They may also heighten fluid retention and sieve off any excess moisture, thus improving soil efficiency. Fertilizers usually offer three key macronutrients such as phosphorus, potassium, as well as nitrogen. They can also bring supplementary nutrients such as calcium, sulphur, and magnesium, to the soil. Based on the types of plants, different fertilizers are used. In some cases, even weeds are used as fertilizers for promoting the growth of plants such as nettles, Chickweed, comfrey, horsetail, yellow dock, and burdock, due to their high content of nitrogen.
Market Trends, Drivers, Restraints, and Opportunities:
- Depletion of arable land and the increasing population growth is anticipated to be a key factor for the growth of the market.
- Rising growth for micronutrient fertilizers is estimated to push the growth of the market.
- Favorable affordability indexes on ammonia, urea, and potash is predicted to fuel the market growth.
- Growth of the agricultural and horticulture industry is expected to push the demand of fertilizers. This, in turn, is expected to fuel the growth of the market.
- Expansion of the precision farming area such as sprinkler & drip type irrigation is boosting the growth of the market.
- Disputes regarding trade export and import is anticipated to hamper the growth of the market.
- Global recession is predicted to hinder the growth of the market in the forecast period.
Scope of the Report
The report on the global fertilizer market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
| Attributes | Details |
| Base Year | 2019 |
| Historic Data | 2015–2018 |
| Forecast Period | 2020–2026 |
| Regional Scope | Asia Pacific, North America, Latin America, Europe, and Middle East & Africa |
| Report Coverage | Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast |
Global Fertilizer Market Segment Insights:
Based on product types, the global fertilizer market is divided into straight fertilizers and complex fertilizers. The straight fertilizers product type is further sub segmented into nitrogenous fertilizers, phosphatic fertilizers,
potash fertilizers, secondary macronutrient fertilizers, and fertilizers. Straight fertilizers accounted for the largest share in the market since nitrogenous fertilizers, micronutrient fertilizers, and phosphatic fertilizers are most widely used. This segment is predicted to dominate the market in the forecast period.
In terms of crop types, the market is fragmented into grains & cereals, pulses & oilseeds, commercial crops, fruits & vegetables, and others. The fruits & vegetables crop type segment accounted for the largest share in the market in 2019. This is directly linked to the increased consumption of organic fruits and vegetables, surging disposable incomes, improving consumer lifestyle, and a gradual shift to healthy eating and fitness habits. The other crop type segments such as grains & cereals, pulses & oilseeds, commercial crops, and others are also estimated to see a growth in the market share in the forecast period.
On the basis of regions, the global fertilizer market is segmented into Asia Pacific, North America, Latin America, Europe, and Middle East & Africa. Asia Pacific is a key region of the market. Growth of the market in the region is attributed to the dominance of the agricultural sector. The emerging economies such as India, China, and Japan are expected to contribute a major share in the market. The growth of the market share in the region is anticipated to continue in the forecast period. Latin America is predicted to have the highest demand for fertilizers in the forecast period. The market in Africa is also anticipated to see a rise in CAGR of around six percent.
Competitive Landscape:
Major companies in the global fertilizer market include
Laizhou Guangcheng Chemical Co. Ltd, Henan XinlianXin Chemicals Group Company Limited,
Indian Farmers Fertiliser Co-operative Limited (IFFCO), Saudi Basic Industries Corporation (SABIC), Hubei Xinyangfeng Fertilizer Co. Ltd, Uralkali PJSC, Sociedad Química y Minera (SQM), Haifa Group, Israel Chemicals Ltd., Groupe OCP, K+S AG, Nutrien Limited, CF Industries, The Mosaic Company, and Yara International. These organizations are continuously involved in making huge investments in R&D, infrastructure improvement, betterment of irrigation facilities, product launches, introduction of fertilizers that are bio-degradable & environment friendly, and acquisitions in order to gain market share.
The global fertilizer market has been segmented on the basis of
Product Types
- Straight Fertilizers
- Nitrogenous Fertilizers
- Phosphatic Fertilizers
- Potash Fertilizers
- Secondary Macronutrient Fertilizers
- Micronutrient Fertilizers
- Complex Fertilizers
Crop Types
- Grains & Cereals
- Pulses & Oilseeds
- Commercial Crops
- Fruits & Vegetables
- Others
Regions
- Asia Pacific
- North America
- Latin America
- Europe
- Middle East & Africa
Comments
Post a Comment