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2022

Fertilizer Market

Fertilizer Market Size, Share, Competitive Landscape and Trend Analysis Report by Type, by Form, by Application : Global Opportunity Analysis and Industry Forecast, 2021-2030

MC : Advanced Materials

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Author's: Pankaj Darbarsingh Jadhav | Surya Sanka
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Fertilizer Market Research, 2030

The global fertilizer market was valued at $184.60 billion in 2021, and is projected to reach $251.57 billion by 2030, growing at a CAGR of 3.55% from 2022 to 2030.

Fertilizer Market, Fertilizer Industry, Fertilizer Market Size, Fertilizer Market Share, Fertilizer Market Trend, Fertilizer Market Growth, Fertilizer Market Analysis, Fertilizer Market Forecast

The fertilizer market is segmented into Application, Type and Form.

Fertilizers of synthetic or natural origin are applied to soil or plant tissue to increase crop performance by enabling plant growth nutrients. Nitrogen-based fertilizers, for example, contain nitrogen, which is the primary constituent of chlorophyll, which aids in plant photosynthesis. Phosphorus fertilizers are beneficial to plant roots because phosphorus is found in cell protoplasm, which promotes cell growth and proliferation. Organic fertilizers, on the other hand, are made from agricultural residues, toxic pollution, municipal silt, or animal waste. These fertilizers increase soil water retention capacity, promote microorganism reproduction, and improve soil physical and chemical properties.

Natural and synthetic fertilizers are applied to plant cells or soil and provide one or even more nutrients required by plants for growth. Growth of the market for improved soil nutrients, combined with increased crop yield, are expected to drive up fertilizer demand over the forecast period. Growing organic fertilizer penetration is expected to encourage farmers to use fertilizers more efficiently and safely.

The global farming sector is facing numerous challenges. As per the United Nations, the world population will have exceeded nine billion people by 2050. This will put a lot of stress on the agricultural industry, which is already suffering from a loss of productivity due to labor shortages and the shrinking of agricultural fields due to rapid urbanization. According to the Food and Agriculture Organization, cities will house more than 70% of the world's population by 2050. Farmers are being forced to use fertilizers to increase agricultural output due to global loss of arable land.

The global fertilizer market share is segmented on the basis of type, application, and region. By type, market has been divided into organic and inorganic. By form, the analysis has been divided into dry and liquid. By application, the market is further divided into agriculture, horticulture, gardening, and others. By region, the market is analyzed across North America, Europe, Asia-Pacific, and LAMEA.  

The key players profiled in this report include Yara International, Nutrien Ltd., The Mosaic Company, Haifa Group, Syngenta AG, ICL Group Ltd., EuroChem Group, OCP Group S.A., K+S Aktiengesellschaft, and Uralkali.

Fertilizer Market by Type

By type, the market has been divided into organic and inorganic. Among these, the inorganic sub-segment accounted for the highest revenue share in 2021. Inorganic fertilizers are made up of nutrient-rich salts like potassium, phosphorous, nitrogen, and others that disintegrate rapidly and are immediately available to the plants. Because the use of inorganic fertilizers is regulated by law, they have precise nitrogen, phosphate, and potassium, effectively meeting plant and soil requirements.

Fertilizer Market by Form

By form, the dry sub-segment accounted for the highest revenue share in 2021. Dry fertilizers are commonly used fertilizers. Dry fertilizers are best suited for slow-release formulations because they are absorbed more slowly by plants and must first be broken down. Because they do not "settle out" over time or in cold weather, these fertilizers are less expensive and easier to store. This is one of the reasons for the fertilizer market growth.

Fertilizer Market by Application

By application, the agriculture sub-segment is anticipated to have the dominant share during the forecast period. Agriculture sub-segment accounted for the highest revenue share in 2021. Fertilizer demand in agriculture has skyrocketed as a result of rising global population, globalization, and the development of smart cities, all of which have resulted in a decrease in arable land availability and an increase in food demand. Fertilizers are important for maintaining soil nutrient levels, meeting crop nutritional needs, and increasing agricultural productivity. According to Future Farming, a brand focusing on smart farming, the world's population is expected to reach 10 billion by 2050. As a result, increasing agricultural productivity is critical in order to meet the food needs of the growing population. As a result, the use of fertilizers in the agricultural sector is critical to balancing nutrients in the soil.

Fertilizer Market by Region

By region, Asia-Pacific dominated the global fertilizer market share in 2021 and is forecasted to remain the dominant region during the forecast period. The growing agricultural practices and demand for high-quality agricultural produce are expected to drive the growth of the nitrogenous fertilizers market in this region. Rice, sugar beet, fruits and vegetables, cereals, and grains are among the major crops grown in Asia; the region consumes 90 percent of the world's rice production. Asian countries such as Korea, China, Japan, and, more recently, Vietnam are using high nitrogenous fertilizer rates per hectare for both short-term and perennial crops. As a result, the region has a high demand for specialty fertilizers.

KEY BENEFITS FOR STAKEHOLDERS

  • The report provides an in-depth analysis of the global fertilizer market trends along with the current and future market forecast.
  • This report highlights the key drivers, opportunities, and restraints of the market along with the impact analyses during the forecast period.
  • Porter’s five forces analysis helps analyze the potential of the buyers & suppliers and the competitive scenario of the global fertilizer market growth for strategy building. 
  • A comprehensive global fertilizer market analysis covers factors that drive and restrain the market growth.
  • The qualitative data in this report aims on market dynamics, trends, and developments.   

IMPACT OF COVID-19 ON THE GLOBAL FERTILIZER MARKET

  • Since the outbreak of COVID-19, the fertilizer industry has been significantly impacted in many parts of the world. During the initial lockdown, shipments were disrupted due to a labor shortage and the closure of a few fertilizer plants located in integrated chemical complexes.
  • China, as the pandemic's epicenter, was severely impacted at first. However, the country's conditions have stabilized, and fertilizer production rates have increased across the board. As a result, the overall impact of COVID-19 on the fertilizer industry is considered moderate.
  • Travel restrictions resulted in fertilizer stockpiling. Hubei, a Chinese province, is the leading producer of phosphoric acid and phosphate.

 

Fertilizer Market Report Highlights

Aspects Details
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By Application
  • Agriculture
  • Horticulture
  • Gardening
  • Others
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By Type
  • Organic
  • Inorganic
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By Form
  • Dry
  • Liquid
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By Region
  • North America  (U.S., Canada, Mexico)
  • Europe  (Germany, U.K., France, Russia, Italy, Rest of Europe)
  • Asia-Pacific  (China, India, Indonesia, Pakistan, Australia, Rest of Asia-Pacific)
  • LAMEA  (Brazil, Egypt, Argentina, South Africa, Rest of LAMEA)
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Key Market Players

Nutrien, cf industries, OCP, eurochem, Israel Chemicals Limited, Mosaic Company, PhosAgro, K+S, Yara International, OCI, Uralkali

Analyst Review

According to the CXOs of the leading companies, the global fertilizer market possesses a substantial scope for growth in the future. The global fertilizer industry is fragmented, with many large and small-scale fertilizer businesses operating in both developed and emerging nations. Fertilizers are an important factor for enhancing agricultural output that players in the industry have been trying to form strategic alliances and partnerships to expand one‘s geographical footprint and product portfolio. In 2019, for instance, Haifa Group increased its fertilizer production capacity in France by 8,000 MTPA. Using this method, the corporate entity was able to boost its production capacity by up to 24,000 MTPA. In 2018, Yara International ASA paid USD 255 million for Brazil's Vale Cubato Fertilizantes Complex. As a result, the company's nitrogen manufacturing assets and market position in the Brazilian fertilizer industry improved. All such factors and initiatives will drive the global fertilizer market growth. According to the CXOs, Asia-Pacific is projected to register faster growth as compared to North American and European markets

Author Name(s) : Pankaj Darbarsingh Jadhav | Surya Sanka
Frequently Asked Questions?

The rising population, particularly in developing countries like India, is expected to increase demand for fertilisers. Fertilizers help crops grow because they play an important role in increasing crop productivity by improving soil fertility. Food demand has increased as the world's population has grown, which may create lucrative opportunities for the market

Agreement, business expansion, and product launch are the key growth strategies of global Fertilizer market players.

Asia-Pacific will provide more business opportunities for global Fertilizer market in the future.

Yara International, Nutrien Ltd., The Mosaic Company, Haifa Group, Syngenta AG, ICL Group Ltd., EuroChem Group, OCP Group S.A., K+S Aktiengesellschaft, and Uralkali. are the leading market players active in the Fertilizer market.

Agriculture segment held the maximum share of the global fertilizer market in 2021.

To meet demand, the agriculture industry is under pressure to produce more food crops. Fertilizers are heavily used in agriculture to increase soil productivity. To increase crop yield, synthetic or chemical fertilisers are commonly used. However, there is a shift toward the use of organic fertilisers due to increased awareness of the harmful effects of chemical fertilisers on both humans and the environment. People are choosing organic foods and are willing to pay a slightly higher price for them, which will ultimately accelerate the global Fertilizer market growth in the next few years

Organic fertilizers improve soil nutrients, water retention capability, and soil structure. Synthetic or inorganic chemicals contain chemical molecules such as ammonium nitrate, potassium sulphate, and others that are disruptive to the soil. All such factors are predicted to drive the adoption of fertilizers.

The report provides an extensive qualitative and quantitative analysis of the current trends and future estimations of the global fertilizer market from 2021 to 2030 to determine the prevailing opportunities.

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Fertilizer Market

Global Opportunity Analysis and Industry Forecast, 2021-2030