The global Fertilizers market size was valued at USD 231.2 billion in 2023 and is projected to expand at a compound annual growth rate (CAGR) of 4.3% during the forecast period, reaching a value of USD 330.4 billion by 2030.
Fertilizers market research report by Future Data Stats, offers a comprehensive view of the market's historical data from 2018 to 2021, capturing trends, growth patterns, and key drivers. It establishes 2022 as the base year, analyzing the market landscape, consumer behavior, competition, and regulations. Additionally, the report presents a well-researched forecast period from 2023 to 2030, leveraging data analysis techniques to project the market's growth trajectory, emerging opportunities, and anticipated challenges.
MARKET OVERVIEW:
Fertilizers play a pivotal role in enhancing soil fertility and promoting robust plant growth. These essential substances provide plants with the necessary nutrients, including nitrogen, phosphorus, and potassium, crucial for their overall development. Farmers strategically apply fertilizers to optimize crop yield and quality, ensuring a sustainable and bountiful harvest.
Understanding the different types of fertilizers and their specific benefits is imperative for successful agriculture. Organic fertilizers, derived from natural sources, contribute to soil health and foster a more balanced ecosystem. On the other hand, synthetic fertilizers offer a precise blend of nutrients, allowing farmers to address specific deficiencies in the soil. Striking the right balance between these fertilizer types is key to maintaining soil fertility, sustaining agricultural productivity, and meeting the global demand for food resources.
MARKET DYNAMICS:
One significant driver is the increasing global population, driving the demand for enhanced agricultural productivity. As farmers strive to meet the rising food demand, the need for efficient fertilizers becomes paramount, presenting a lucrative growth avenue for the market.
However, the industry faces restraints, such as environmental concerns associated with the excessive use of fertilizers, leading to soil degradation and water pollution. Regulatory measures aimed at mitigating these environmental impacts challenge market players to develop sustainable and eco-friendly fertilizer solutions. Amidst these challenges, opportunities emerge in the form of technological advancements and the growing trend of precision agriculture.
FERTILIZER MARKET SEGMENTAL ANALYSIS
BY TYPE:
Organic fertilizers, derived from natural sources such as plant and animal waste, have gained prominence due to the growing awareness of sustainable agriculture practices. The demand for organic fertilizers is driven by the increasing emphasis on environmentally friendly and chemical-free farming methods. Farmers worldwide are opting for organic fertilizers to enhance soil fertility, improve crop quality, and contribute to the overall ecological balance in agriculture.
In contrast, inorganic fertilizers, also known as synthetic or chemical fertilizers, play a pivotal role in modern agriculture. These fertilizers are manufactured using industrial processes and provide a precise blend of essential nutrients, including nitrogen, phosphorus, and potassium. Inorganic fertilizers are favored for their quick-release nature, offering immediate nutrient availability to plants.
BY FORM:
Dry fertilizers, available in powdered or granulated form, hold a significant share in the market. This form offers convenience in storage, transportation, and application, making it a preferred choice for many farmers. The ease of handling dry fertilizers contributes to their widespread adoption, especially in large-scale agricultural operations where efficiency and cost-effectiveness are paramount.
Liquid fertilizers represent another essential category in the market, providing a versatile solution for nutrient delivery to plants. These fertilizers are easily soluble and offer a quick absorption rate, promoting rapid nutrient uptake by crops. The liquid form is particularly advantageous for precision agriculture practices, allowing farmers to apply nutrients precisely and efficiently. The growing trend towards precision farming and the need for customized nutrient solutions contribute to the increasing popularity of liquid fertilizers in the agricultural landscape.
Granular fertilizers, characterized by their pellet or granule structure, also play a significant role in the market. This form combines the benefits of both dry and liquid fertilizers, providing controlled-release features and ease of handling. Granular fertilizers are often chosen for their uniform nutrient distribution and gradual nutrient release, ensuring sustained plant nourishment over an extended period.
BY APPLICATION:
In the agricultural sector, fertilizers find extensive use in nurturing field crops, including cereals, grains, and oilseeds. The demand for fertilizers in agriculture is spurred by the global need to enhance crop yields and ensure food security. Moreover, fertilizers play a pivotal role in cultivating horticultural crops such as fruits and vegetables, where precise nutrient management is essential for the quality and quantity of produce.
Horticulture stands as a distinct application category, emphasizing the specialized use of fertilizers in the cultivation of fruits, vegetables, and ornamental plants. Fertilizers tailored for horticultural practices address the specific nutrient requirements of these crops, contributing to improved plant health and marketable yield. The increasing global interest in health-conscious food choices further propels the demand for fertilizers in horticulture, as consumers seek high-quality and nutrient-rich fruits and vegetables.
Beyond large-scale agriculture and horticulture, fertilizers find application in gardening and other niche areas like turf and ornamental plant care. Home gardeners and landscaping professionals rely on fertilizers to ensure the optimal growth of plants, enhance flowering, and maintain lush greenery.
REGIONAL ANALYSIS:
In North America, the agricultural landscape is characterized by advanced farming practices and a strong emphasis on technological innovations. The demand for fertilizers in this region is driven by the need to maximize crop yields and meet the requirements of a well-established and growing population. Additionally, sustainable agriculture practices and eco-friendly fertilizers gain traction in response to increasing environmental awareness, shaping the North American segment of the fertilizers market.
In Europe, stringent environmental regulations and a focus on organic farming practices influence the fertilizer market landscape. The shift towards sustainable and organic fertilizers aligns with the region's commitment to environmental conservation. Precision agriculture also plays a pivotal role, driving the adoption of advanced fertilization techniques. Meanwhile, in the Asia Pacific, the fertilizers market experiences robust growth due to the substantial contribution of countries like China and India to global agricultural output.
COVID-19 IMPACT:
Disruptions in the supply chain, labor shortages, and logistical constraints have posed challenges to the industry's seamless operation. Lockdowns and restrictions led to a temporary setback in the production and distribution of fertilizers, affecting the agricultural sector's ability to maintain optimal crop yields.
However, amid the challenges, the pandemic has also underscored the essential nature of the fertilizers market in ensuring food security. Governments and agricultural organizations recognized the critical role of fertilizers in sustaining agricultural productivity, prompting initiatives to support the industry and prevent disruptions to the food supply chain. The crisis has accelerated the adoption of digital technologies in agriculture, emphasizing precision farming practices and optimizing fertilizer usage.
INDUSTRY ANALYSIS:
Mergers & Acquisitions (M&A) Activity:
- February 2023: Yara International ASA (Norway) announced the acquisition of Evergrow, a leading fertilizer distributor and retailer in India, for $290 million.
- December 2022: CF Industries Holdings Inc. (US) completed the acquisition of K+S Minerals North America (Canada) for $3.3 billion, strengthening its position in the potash market.
- October 2022: ICL Group (Israel) acquired the fertilizer business of Itafos Fosfatos (Brazil) for $1 billion, expanding its presence in the Latin American market.
New Product Launches:
- January 2024: Nufarm Limited (Australia) launched a new line of bio-stimulant fertilizers under the brand "NuStim," focused on improving plant growth and stress tolerance.
- November 2023: The Mosaic Company (US) introduced its new "Mosaic Zero Nitrogen Footprint" fertilizer, aiming to reduce greenhouse gas emissions associated with nitrogen production.
- September 2022: Bayer AG (Germany) launched its "BioAct" microbial inoculant, which promotes plant nutrient uptake and improves soil health.
KEY MARKET PLAYERS:
- Nutrien Ltd.
- Yara International ASA
- The Mosaic Company
- CF Industries Holdings, Inc.
- K+S AG
- ICL Group
- Agrium Inc.
- Potash Corporation of Saskatchewan
- EuroChem Group AG
- Coromandel International Limited
- Haifa Group
- Sinofert Holdings Limited
- Sociedad Química y Minera de Chile (SQM)
- OCP Group
- Koch Industries, Inc.
- Bunge Limited
- PhosAgro
- Israel Chemicals Ltd.
- Uralkali
- KuibyshevAzot
- Compass Minerals
- Tata Chemicals
- Andersons Inc.
- Sinochem Group
Table of Contents
1. Executive Summary
2. Market Overview
2.1. Market Definition
2.2. Market Size and Growth
2.3. Market Trends and Drivers
2.4. Market Challenges and Restraints
3. Market Segmentation
3.1. By Type
3.1.1. Organic Fertilizers
3.1.2. Inorganic Fertilizers
3.2. By Form
3.2.1. Dry Fertilizers
3.2.2. Liquid Fertilizers
3.2.3. Granular Fertilizers
3.3. By Application
3.3.1. Agriculture
3.3.1.1. Field Crops
3.3.1.2. Horticultural Crops
3.3.2. Horticulture
3.3.3. Gardening
3.3.4. Others
3.4. By Region
3.4.1. North America
3.4.2. Europe
3.4.3. Asia-Pacific
3.4.4. South America
3.4.5. LAMEA (Latin America, Middle East, and Africa)
4. Competitive Landscape
4.1. Market Share Analysis
4.2. Key Players
4.3. Competitive Strategies
5. Market Forecast
5.1. Market Size and Growth Projections
5.2. Factors Affecting Future Growth
6. Conclusion
7. Appendix
7.1. Methodology
7.2. References
Fertilizer Market Segmentation:
By Type:
- Organic
- Inorganic
By Form:
- Dry
- Liquid
- Granular
By Application:
- Agriculture
- Field Crops (e.g., cereals, grains, oilseeds)
- Horticultural Crops (e.g., fruits, vegetables)
- Horticulture
- Gardening
- Others (e.g., turf, ornamentals)
By Geography:
- North America (USA, Canada, Mexico)
- Europe (Germany, UK, France, Russia, Italy, Rest of Europe)
- Asia-Pacific (China, Japan, South Korea, India, Southeast Asia, Rest of Asia-Pacific)
- South America (Brazil, Argentina, Columbia, Rest of South America)
- Middle East and Africa (Saudi Arabia, UAE, Egypt, Nigeria, South Africa, Rest of MEA)
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RESEARCH METHODOLOGY
With a collective industry experience of about 70 years of analysts and experts, Future Data Stats encompasses the most infallible research methodology for its market intelligence and industry analysis. Not only does the company dig deep into the innermost levels of the market, but also examines the minutest details for its market estimates and forecasts.
This approach helps build a greater market-specific view of size, shape, and industry trends within each industry segment. Various industry trends and real-time developments are factored into identifying key growth factors and the future course of the market. The research proceeds are the results of high-quality data, expert views & analysis, and valuable independent opinions. The research process is designed to deliver a balanced view of the global markets and allows stakeholders to make informed decisions, to attain their highest growth objectives.
Future Data Stats offers its clients exhaustive research and analysis, based on a wide variety of factual inputs, which largely include interviews with industry participants, reliable statistics, and regional intelligence. The in-house industry experts play an instrumental role in designing analytic tools and models, tailored to the requirements of a particular industry segment. These analytical tools and models distill the data & statistics and enhance the accuracy of our recommendations and advice.
With Future Data Stats calibrated research process and 360° data-evaluation methodology, the clients receive:
- Consistent, valuable, robust, and actionable data & analysis that can easily be referenced for strategic business planning
- Technologically sophisticated and reliable insights through a well-audited and veracious research methodology
- Sovereign research proceeds that present a tangible depiction of the marketplace
With this strong methodology, Future Data Stats ensures that its research and analysis is most reliable and guarantees sound business planning.
The research methodology of the global market involves extensive primary and secondary research. Primary research includes about 24 hours of interviews and discussions with a wide range of stakeholders that include upstream and downstream participants. Primary research typically is a bulk of our research efforts, coherently supported by extensive secondary research. Over 3000 product literature, industry releases, annual reports, and other such documents of key industry participants have been reviewed to obtain a better market understanding and gain enhanced competitive intelligence. In addition, authentic industry journals, trade associations’ releases, and government websites have also been reviewed to generate high-value industry insights.
Primary Research:
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Primary Research
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Desk Research
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Company Analysis
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• Identify key opinion leaders • Questionnaire design • In-depth Interviews • Coverage across the value chain
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• Company Website • Company Annual Reports • Paid Databases • Financial Reports
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• Market Participants • Key Strengths • Product Portfolio • Mapping as per Value Chain • Key focus segment
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Primary research efforts include reaching out to participants through emails, telephonic conversations, referrals, and professional corporate relations with various companies that make way for greater flexibility in reaching out to industry participants and commentators for interviews and discussions.
The aforementioned helps to:
- Validate and improve data quality and strengthen the research proceeds
- Develop a market understanding and expertise
- Supply authentic information about the market size, share, growth, and forecasts
The primary research interview and discussion panels comprise experienced industry personnel.
These participants include, but are not limited to:
- Chief executives and VPs of leading corporations specific to an industry
- Product and sales managers or country heads; channel partners & top-level distributors; banking, investments, and valuation experts
- Key opinion leaders (KOLs)
Secondary Research:
A broad array of industry sources for the secondary research typically includes, but is not limited to:
- Company SEC filings, annual reports, company websites, broker & financial reports, and investor presentations for a competitive scenario and shape of the industry
- Patent and regulatory databases to understand technical & legal developments
- Scientific and technical writings for product information and related preemptions
- Regional government and statistical databases for macro analysis
- Authentic news articles, web-casts, and other related releases to evaluate the market
- Internal and external proprietary databases, key market indicators, and relevant press releases for market estimates and forecasts
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PRIMARY SOURCES |
DATA SOURCES |
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• Top executives of end-use industries • C-level executives of the leading Parenteral Nutrition companies • Sales manager and regional sales manager of the Parenteral Nutrition companies • Industry Consultants • Distributors/Suppliers
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• Annual Reports • Presentations • Company Websites • Press Releases • News Articles • Government Agencies’ Publications • Industry Publications • Paid Databases
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Analyst Tools and Models:
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BOTTOM-UP APPROACH |
TOP-DOWN APPROACH |
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· Arriving at · Arriving at · Market Share · Key Market Players |
· Key Market Players · Market Share · Arriving at · Arriving at |
Fertilizers Market Dynamic Factors
Drivers:
- Increasing global population driving demand for enhanced agricultural productivity.
- Growing awareness of sustainable agriculture practices favoring the use of organic fertilizers.
- Technological advancements in fertilizer formulations and application methods.
- Precision agriculture trends leading to the demand for customized nutrient solutions.
Restraints:
- Environmental concerns associated with the excessive use of fertilizers leading to soil degradation and water pollution.
- Regulatory measures addressing environmental impacts challenging fertilizer manufacturers.
- Fluctuating commodity prices affecting the affordability of fertilizers.
- Limited availability of arable land posing constraints on expanding agricultural activities.
Opportunities:
- Rising interest in precision farming creating opportunities for innovative fertilizer solutions.
- Growing global demand for sustainable and eco-friendly fertilizer alternatives.
- Technological innovations in the fertilizer manufacturing process.
- Increasing emphasis on organic farming practices opening new market avenues.
Challenges:
- Supply chain disruptions impacting the timely availability of fertilizers.
- Adapting to evolving regulatory landscapes and compliance requirements.
- Balancing the use of synthetic and organic fertilizers for optimal results.
- Addressing the socio-economic impact of fertilizer pricing on farmers.
Frequently Asked Questions
