Fertilizer Market

Global Fertilizer Market:

Fertilizer Market- By Application, Form, Product, and Region.

Market Synopsis:

The Global Fertilizer Market is valued at USD 195.01 Billion in the year 2022 and is forecasted to reach a value of USD 230.29 Billion by the year 2030. The Global Market is anticipated to grow to exhibit a Compound Annual Growth Rate (CAGR) of 2.10% over the forecast period.

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Fertilizers are chemical components found in natural or manmade substances that help plants grow and produce more. Fertilizers may boost the soil's inherent fertility or replace the chemical elements that earlier crops exhausted. Growing population and changing food patterns in both developed and emerging countries will contribute to the Fertilizer industry's expansion in the upcoming years. Plant tissues or soil are fed with natural and synthetic Fertilizer to give one or more nutrients essential for plant growth.

The rising need for improved soil nutrients, combined with rising agricultural yields, is predicted to drive up chemical consumption. Organic Fertilizer uptake is expected to increase, encouraging farmers to utilize Fertilizers more efficiently and safely. Rising rural incomes, as well as the flexibility and speed with which credit is made available, are expected to boost revenue generation. The rise of the organic Fertilizer Market has been fueled by government backing and increased knowledge of the benefits of utilizing organic Fertilizers on human health and soil quality.

Furthermore, the implementation of strict limitations on the use of synthetic Fertilizers is offering profitable growth opportunities for industry participants. Besides, a lack of knowledge about Fertilizer use is hurting soil and human health. To increase production, farmers prefer to abuse Fertilizers, which are hazardous to the environment. The human body suffers because of the lack of personal safety kits for handling and applying Fertilizers.

Several government and non-governmental groups are encouraging Fertilizer use and its positive impact on agricultural output. The Fertilizer Market is expected to benefit from Fertilizer promotion on radio, television, and in rural areas.

Market Segmentation:

The Fertilizer Market is segmented based on form, application, and product type. Based on application, the market is segmented as agricultural, horticultural, gardening, and others. Based on product, the market is segmented as organic and inorganic. Based on form, the market is segmented as dry and liquid.

Based on Application:

Based on application, the market is segmented as agricultural, horticultural, gardening, and others. The agricultural segment quickly involved Fertilizer methods during the forecast period. The growth of the segment is attributed to increasing preference and awareness among the consumers of manufacturers to increase the shelf-life of their products. Moreover, the rise in the efficiency of reverse logistics operation of recycled products, decrease in landfill sites, and eco-friendly legislations for the government are driving the Fertilizer Market growth during the forecast period.

Based on Product:

Based on product, the market is segmented as organic and inorganic. The organic segment is anticipated to grow at the highest rate during the forecast period. The growing demand for organic food products will almost likely require large-scale production of organic Fertilizers, which will open a wide range of opportunities for stakeholders. Market goliaths have changed their focus to developing their organic Fertilizer produce to benefit from the growing unmet demand from consumers, sensing the growing demand for organic Fertilizers.

Asia Pacific is Projected to Grow at the Highest CAGR During the Forecast Period

Asia Pacific is accounted to grow at the highest Compound Annual Growth Rate (CAGR) during the forecast period. Growing health awareness, large areas under organic agriculture, rapid population, and income growth, rising automation and irrigation infrastructure, and the presence of several organic operators are all factors contributing to this segment's substantial market share. Furthermore, favorable government policies and initiatives by other organizations designed to promote and grow the organics industry contribute to the market's growth in this region. Also, the organic sector's exponential expansion can be attributed to expanding consumer health awareness, a growing population, rising demand for organic products, and an ever-increasing area under organic cultivation.

Competitive Landscape:

The key players in the Global Fertilizer Market include- CF Industries Holdings Inc., GÜBRETA, Indian Farmers Fertiliser Cooperative Limited (IFFCO), Haifa Group, Syngenta AG, Unikeyterra, SQM S.A, Yara International ASA, BAGFAŞ, Sumitomo Chemical Co., Ltd., Gemlik Fertilizer, Israel Chemicals Ltd. (ICL), Bunge Limited Inc., Nutrien Ltd. and others.

Segmentation of the Global Fertilizer Market: