Rising Fertilizers Market Demand From 2019-2028

Fertilizers are chemical ingredients applied to the crops to surge their productivity. These are utilized by the cultivators on a regular basis to increase the crops yield. Fertilizers contain the vital nutrients required by the plants including nitrogen, potassium, and phosphorus. They improve the water retention capacity of the soil and also surge its fertility.

Moreover, fertilizers are added to agricultural lands to ease nutrient deficiencies, letting large increases in the rates of crop growth. As of 2006, over 150 million tons of fertilizer are used in agriculture each year worldwide. In the United States, the average rate of fertilizer application is about 220 pounds per 2.5 acres (approximately 100 kilograms per hectare), and about 21 million tons (19 million metric tons) are used in total each year.

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MARKET DYNAMICS- GLOBAL FERTILIZERS MARKET

New food processing, manufacturing, and packaging methods have led to a prosperous food & beverage sector globally. This has resulted in an increase in the demand for agricultural products such as food grains, oilseeds, vegetables, and fruits, which directly, is fueling the Fertilizers market growth. The growing animal husbandry sector has increased the demand for animal feed, further triggering the demand for Fertilizers such as fertilizers and plant growth regulators.

Further, the increased research and development (R&D) in the field of bio-pesticides in order to compete with organic farming and integrated pest management (IPM) is one of the most recent trends in the global Fertilizers market. Various government initiatives to educate farmers and offer them with the best possible methods to harvest high quality crop yield, farms and livestock is another common trend in the Fertilizers market. In various countries such as India, the government provides agricultural subsidy in the form of financial aid to farmers to supplement their income and manage the supply of agricultural commodities.

FERTILIZERS MARKET BY TYPE

Organic and Inorganic are the major types of fertilizers. Organic fertilizers are natural fertilizers obtained from plants, animals and minerals. It improves the soil with carbonic compounds which is vital for plant growth. Organic fertilizers surge the organic matter content of the soil, stimulates the reproduction of microorganisms, and modifies the physical and chemical properties of the soil. It is well thought to be one of the main nutrients for green food. Further inorganic fertilizers include nitrogen fixing, potassium fixing, phosphorus fixing and complex compounds.

FERTILIZERS MARKET BY CROP TYPE

Fertilizers can be applied on various crops such as cereals & grains, oilseeds & pulses and fruits & vegetables. The market for cereals & grains is projected to dominate the market. The nutritional benefits of edible oil, crushed and extracted from various oilseeds such as soybean, canola, sunflower, safflower, palms, sesame and other oilseed crops, have led the emerging economies to witness the demonstration effect in the consumption pattern of oilseed-derived vegetable oil.

FERTILIZERS MARKET BY GEOGRAPHY

Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. North America was the leading market for the fertilizers owing to the fast adoption of technological advancement by the cultivators together with several regulatory frameworks assisting and rising involvement from local government agencies in the region. 

However, Asia Pacific is anticipated to be the fastest growing region lead by China, India, Japan, and South Korea and are likely to contribute significantly during the forecast period. Ease of trading across international borders in the region will positively impact the industry growth through the forecast timeframe. Rapid growth of the fast food industry and development in economic conditions has opened doors for improved technological interventions, especially in Western Asia.

GLOBAL FERTILIZERS MARKET-KEY PLAYERS

The major players involved in this market are Agrocare Canada Inc., California Organic Fertilizers Inc., Coromandel International Ltd., BioStar Renewables, Fertikal, ILSA S.p.A., Italpollina S.p.A., Walt's Organic Fertilizer, Scotts Miracle-Gro, Sustane Natural Fertilizer, SARL PLANTIN, Perfect Blend, Nature Safe, Multiplex Group, Midwestern BioAg and among others.

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