Global Fertilizer Market

Fertilizer Market Size, Share, Growth Analysis, By Form(dry and liquid), By Product(Organic and inorganic) - Industry Forecast 2024-2031

Report ID: SQMIG15A2142 | Region: Global | Published Date: February, 2024
Pages: 242 | Tables: 59 | Figures: 75

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Fertilizer Market size was valued at USD 191 billion in 2019 and is poised to grow from USD 195.01 billion in 2023 to USD 230.29 billion by 2031, growing at a CAGR of 2.1% in the forecast period (2024-2031).

Fertilizer Market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Yara International ASA', 'The Mosaic Company', 'CF Industries Holdings, Inc.', 'Nutrien Ltd.', 'Agrium Inc.', 'EuroChem Group AG', 'Haifa Group', 'K+S AG', 'SQM S.A.', 'Israel Chemicals Ltd.', 'Coromandel International Ltd.', 'PhosAgro Group', 'Sinofert Holdings Limited', 'Uralkali PJSC', 'Potash Corporation of Saskatchewan Inc.', 'ICL Fertilizers', 'OCI Nitrogen', 'OCP Group', 'Koch Fertilizer, LLC', 'Gujarat State Fertilizers & Chemicals Ltd.'

To increase agricultural productivity, organic fertilisers are made from naturally occurring plant waste, microorganisms, animal compost, excretions, and herbal extracts. These fertilisers prolong soil structure, enhance soil retention of nutrients and water, and have a long shelf life. There are no artificial components in the organic fertilisers. As a result of the surge in demand for organic fertilisers throughout the course of the anticipated period, the worldwide fertiliser market will grow and flourish.

The highly effective fertilisers aid in the efficient and effective growth of plants and crops. The usage of enhanced efficiency fertilisers in the agriculture industry is rising significantly, especially for industrial crops, as a result of the development of new natural chemicals and low-cost polymer coating technologies. Accordingly, profitable prospects for the expansion of the worldwide fertiliser industry are being created by the rising demand for high-efficiency fertilisers.

 Asia Pacific will see a 2.5% CAGR and will continue to lead the fertiliser industry Over the anticipated period. In China, India, Pakistan, Vietnam, and Bangladesh, population growth is predicted to be followed by rising need for improved food production during the next few years. A number of the region's nations export agricultural goods in significant quantities around the globe. For instance, rice exports from Vietnam and Thailand each year are at an all-time high. In contrast, India is anticipated to export rice worth more than USD 4 billion in 2020. Demand for regional goods will also rise as a result of an increase in foreign direct investment and government subsidies in the fertiliser industry.

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