IMARC Group, a leading market research company, has recently releases report titled “Fertilizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2024-2032”. The study provides a detailed analysis of the industry, including the global fertilizer market share, size, trends, and growth forecasts. The report also includes competitor and regional analysis and highlights the latest advancements in the market.
Report Highlights
How big is the fertilizer market?
The global fertilizer market size reached US$ 176.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 236.9 Billion by 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032.
What is fertilizer?
Fertilizer is a substance added to soil or plants to enhance their growth and yield. It mainly comprises essential nutrients such as nitrogen, phosphorus, and potassium and aids in replenishing nutrient-deficient soil and promoting plant health. It is commonly available in the market in different forms, such as granular, liquid, or even organic compost. The role of fertilizers is pivotal in modern agriculture as they aid in improving the fertility of the land and substantially enhancing crop yield. They are widely used in farms, gardens, and large-scale agricultural settings, making them integral to the global food production chain. Since they assist in fulfilling the ever-growing demand for food, feed, and biofuel products, fertilizers have gained immense traction across the globe.
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What are the growth prospects and trends in the fertilizer industry?
The global fertilizer market is primarily driven by the expanding population worldwide, escalating food demand, and agricultural advancements. Moreover, several government initiatives aimed at sustainable farming are encouraging the use of fertilizers for improved crop yield, thus fueling market growth. In addition, the development of innovative, eco-friendly fertilizers that minimize environmental impact while optimizing productivity represents another major growth-inducing factor. These next-generation products align with global sustainability goals and are gradually replacing traditional chemical-based fertilizers. Furthermore, the emerging trend of precision agriculture, which involves the targeted application of fertilizers using technology, is creating new opportunities, thus propelling market growth.
What is included in market segmentation?
The report has segmented the market into the following categories:
Breakup by Product:
Straight Fertilizers
Nitrogenous Fertilizers
Urea
Calcium Ammonium Nitrate
Ammonium Nitrate
Ammonium Sulfate
Anhydrous Ammonia
Others
Phosphatic Fertilizers
Mono-Ammonium Phosphate (MAP)
Di-Ammonium Phosphate (DAP)
Single Super Phosphate (SSP)
Triple Super Phosphate (TSP)
Others
Potash Fertilizers
Muriate of Potash (MoP)
Sulfate of Potash (SoP)
Secondary Macronutrient Fertilizers
Calcium Fertilizers
Magnesium Fertilizers
Sulfur Fertilizers
Micronutrient Fertilizers
Zinc
Manganese
Copper
Iron
Boron
Molybdenum
Others
Complex Fertilizers
Breakup by Product Form:
Dry
Liquid
Breakup by Crop Type:
Grains and Cereals
Pulses and Oilseeds
Fruits and Vegetables
Flowers and Ornamentals
Others
Breakup by Region:
North America (U.S. Canada)
Europe (Germany, United Kingdom, France, Italy, Spain, Russia, and Others)
Asia Pacific (China, India, Japan, South Korea, Indonesia, Australia, and Others)
Latin America (Brazil, Mexico)
Middle East Africa
Who are the key players operating in the industry?
The report covers the major market players including:
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
Yara International.
Note: If you require any specific information that is not covered currently within the scope of the report, we will provide the same as a part of the customization.
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