Global Fertilizer Market is segmented By Product Analysis (Nitrogen N (Urea, Ammonia, AN/CAN, DAP/MAP, NPK, UAN, others), Phosphate P205 (DAP/MAP, NPK, SSP, TSP, others), Potash), By Crops (Wheat, Maize, Rice, Other Cereal, Oilseeds, Cotton, Sugar Crops, Fruits & Vegetables, Others), and By Region (North America, Latin America, Europe, Asia Pacific, Middle East, and Africa) – Share, Size, Outlook, and Opportunity Analysis, 2022-2029
The Global Fertilizer Market is expected to grow at a CAGR of 4% during the forecasting period (2022-2029).
- Changing weather conditions and lack of essential nutrients which are mandatory for the growth of a plant are increasing the demand for Fertilizers.
- They provide essential nutrients required for optimum growth of the plant thereby increasing overall output.
Market Growth and Restraint factors
- Water being the major source of agriculture, about 70% of global water consumption is used by this sector, while the remaining is consumed by Industries (19%) and Municipalities (11%).
- Studies reveal that global water withdrawal is increasing rapidly with time (as shown in below graph).
- Today,most of the water used in agriculture does not reach the crop, as water is lost during transportation, evaporation, runoff, drainage, and transpiration.
- All these reasons lead to decrease in the availability of water for cultivation due to which farmers are unable to meet required production on time, thereby leading to scarcity of food.
- To overcome this situation, if the crops were supplied with required amount of nutrition, the process would not highly depend on the availability of water.
- In this scenario, optimized crop nutrition is a better approach, which enables the crop to improve Water usage efficiency (WUE).
- Fertilizers are the best source of crop nutrition.
The report covers factors impacting the market, Porter 5 Forces, Market Share Analysis, Price trend analysis, Product Benchmarking, and company profiles.
- Fertilizer Market is segmented based on the additives into Nitrogen, Phosphatic and Potassic.
- Further, the market is segmented based on applications into Grains & Cereals, Oil crops & Pulses, Fruits & Vegetables, Tur & Ornamental and others.
- The report segments the geographies by region, which include North America, South America, Europe, Asia Pacific and RoW.
- It profiles the following companies: Agrium Inc., Israel Chemical Ltd. (ICL), Sociedad Química Y Minera De Chile (SQM), K+S AKTiengesellschaft, Yara International Asa, Haifa Chemicals Ltd., Compo GmbH & Co. Kg, Coromandel International Ltd., The Mosaic Company, and Hebei Monband Water Soluble Fertilizer Co., Ltd.
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