Fertilizers Market To Reach USD 389.6 Billion By 2032 | Demand From Agriculture, Sustainability, And Increasing Sustainable Farming Practices Continues To Drive Growth
Fertilizers Market To Reach USD 389.6 Billion By 2032 | Demand From Agriculture, Sustainability, And Increasing Sustainable Farming Practices Continues To Drive Growth . (MENAFN - GlobeNewsWire - Nasdaq) The growth of the fertilizer market is primarily attributed to the growing food demand across the globe, emerging fertilizer technologies, and the adoption of ...
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(MENAFN- GlobeNewsWire - Nasdaq) The growth of the fertilizer is primarily attributed to the growing food demand across the globe, emerging fertilizer technologies, and the adoption of sustainable farming practices. Austin, Dec. 15, 2024 (GLOBE NEWSWIRE) -- According to SNS Insider, the Fertilizers Market size was USD 274.6 Billion in 2023 and is expected to reach USD 389.6 Billion by 2032, growing with a significant compound annual growth rate of 4.0% during the forecast period of 2024-2032. Fertilizers market is an important aspect of food production activity that provides essential nutrients for plant growth. As more and more farms are required to meet the needs of a growing global population, the global landscape of agriculture is changing and the need for fertilizers is still at an all-time high. Increasing the global food population will create 70% more food by the year 2050, this process will bind even more the need for fertilization according to FAO (Food and Agricultural Organization). Agriculture, especially in developing markets, is projected to continue as the key source of fertilizer usage. More farmers are using precision agriculture, which applies fertilizer only as needed to maximize crop production with minimal environmental impact. Furthermore, the trends of sustainable farming worldwide are pushing the development of controlled-release fertilizers and organic fertilizers. The market is additionally consolidated by the governmental guidelines and approaches that are advancing practical farming as well as advancing the reception of green composts. Various governments of crucial growing regions have declared goals to minimize their ecological footprints and safeguard food security. Initiatives, e.g., the European Union's Farm to Fork Strategy and India's National Mission on Sustainable Agriculture, for instance, will lay a foundation for higher penetration of advanced fertilizers.

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Nutrien Ltd. (ESN Smart Nitrogen, Hydro Agri)

Yara International ASA (YaraMila Complex, YaraVita)

The Mosaic Company (MicroEssentials, K-Mag)

CF Industries Holdings, Inc. (NitroPhos, Urea-Ammonium Nitrate)

Israel Chemicals Ltd (ICL) (Polyphosphate Fertilizers, PKpluS)

EuroChem Group AG (UAN, Nitrophoska)

Coromandel International Ltd. (Gromor, Paramfos)

OCI Nitrogen (NUTRAMON, Urea Fertilizer)

K+S Aktiengesellschaft (KALISOP, ESTA Kieserit) Haifa Group (Haifa MAP, Multi-K Magnesium Nitrate) Fertilizers Market Report Scope:

Report Attributes Details Market Size in 2023 USD 274.6 Billion Market Size by 2032 USD 389.6 Billion CAGR CAGR of 4.0% From 2024 to 2032 Base Year 2023 Forecast Period 2024-2032 Historical Data 2020-2022 Report Scope & Coverage Market Size, Segments Analysis, Competitive Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook Key Segments . By Form (Dry, Liquid)

. By Application (Agriculture {Grains and Cereals, Oilseeds, Fruits and Vegetables, Others}, Horticulture, Gardening)

. By Crop Type (Field Crops, Horticultural Crops, Turf & Ornamental)

. By Product (Organic {Plant-based fertilizers, Animal-based fertilizers, Mineral-based fertilizers}, Inorganic {Nitrogen, Phosphorus, Potassium) Key Drivers . Rapid population growth and urbanization are escalating the demand for food, leading to increased use of fertilizers to enhance crop yields globally. This trend is particularly notable in regions like Asia-Pacific, where agriculture remains a key economic driver.

. Environmental concerns and stricter regulations on chemical fertilizers are driving the shift toward bio-based and specialty fertilizers, which offer improved nutrient efficiency and reduced ecological impact.

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Market Segmentation

By Form

In 2023, dry fertilizers dominated the global market, accounting for a significant share of 81%. Dry fertilizers are commonly used for large-scale agricultural applications due to their convenience, long shelf life, and ease of storage and transportation. Granules and powdered fertilizers in dry form provide flexibility in application, making them particularly popular for large-scale farming operations in regions with high agricultural demands, such as North America, Asia-Pacific, and Europe.

The growing demand for dry fertilizers is also being driven by the increasing need for fertilizers that can be directly applied to fields using conventional farming equipment. The large-scale farming operations in countries like the United States, Brazil, and India contribute significantly to the demand for dry fertilizers.

By Product

In 2023, organic fertilizers led the market, accounting for a substantial 71% of the total market share. Organic fertilizers, derived from plant, animal, or mineral sources, have gained traction as farmers seek environmentally friendly alternatives to synthetic fertilizers. These fertilizers are increasingly popular in organic farming and sustainable agricultural practices due to their minimal environmental impact and their ability to improve soil health over time. The rise in consumer demand for organic food products is driving the shift toward organic fertilizers, particularly in regions such as North America and Europe, where organic farming is flourishing. The use of organic fertilizers not only helps improve soil fertility but also enhances the sustainability of farming practices, making it a preferred option for many farmers aiming to reduce their carbon footprint.

By Application

In 2023, the agriculture segment dominated the market with the highest revenue share of the fertilizers market. Agriculture remains the dominant application of fertilizers, with crop cultivation representing a significant share of global fertilizer consumption. The growth of the agricultural sector in developing economies, coupled with the rising global population and changing dietary habits, is expected to drive the demand for fertilizers in the coming years. As the demand for high-quality crops and yields rises, especially in developing nations, farmers are increasingly turning to advanced fertilizers to optimize production. In particular, fertilizers used for essential crops like wheat, maize, rice, and oilseeds are expected to see significant growth, especially in countries with large agricultural sectors such as India, China, and Brazil.

The Asia-Pacific region dominated the global fertilizers market in 2023 and held a 45% market share.

The region's large agricultural footprint, coupled with the growing population and rapid urbanization, has resulted in a continuous need for fertilizers to ensure food security. Countries like India and China are leading the way in fertilizer consumption, with both nations investing heavily in agricultural modernization to meet the nutritional needs of their growing populations. India, in particular, is a major consumer of fertilizers due to its reliance on agriculture as a key sector of the economy. Government programs aimed at improving agricultural output and achieving food security have driven the demand for fertilizers in the country. Additionally, China is seeing a shift toward more sustainable farming practices, leading to an increased adoption of organic and controlled-release fertilizers.

North America region growing with a significant growth rate over the forecast period. where the U.S. and Canada are key contributors to the global fertilizer market. With significant agricultural activities, particularly in crops like corn, wheat, and soybeans, North America remains a vital market for fertilizer consumption. The shift towards precision agriculture, driven by technological advancements such as soil sensors and GPS tracking, is fostering more efficient use of fertilizers, thereby sustaining demand.

Europe is another strong market for fertilizers, with a focus on sustainable agricultural practices and organic farming. The European Union's regulations surrounding environmental sustainability and food production are encouraging the use of eco-friendly fertilizers, which is contributing to market growth in the region.

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Recent Developments



In June 2024, Nutrien Ltd. announced the launch of a new line of slow-release fertilizers designed to minimize nutrient loss and improve crop yield, catering to the increasing demand for sustainable agricultural solutions. In March 2024, Yara International unveiled a partnership with global technology companies to incorporate artificial intelligence and machine learning in fertilizer application systems, optimizing the precision of fertilizer use in large-scale agriculture.





Table of Contents – Major Key Points

1. Introduction



Market Definition

Scope (Inclusion and Exclusions) Research Assumptions

2. Executive Summary



Market Overview

Regional Synopsis Competitive Summary

3. Research Methodology



Top-Down Approach

Bottom-up Approach

Data Validation Primary Interviews

4. Market Dynamics Impact Analysis



Market Driving Factors Analysis

PESTLE Analysis Porter's Five Forces Model

5. Statistical Insights and Trends Reporting



Production Capacity and Utilization, by Country, by Type, 2023

Feedstock Prices, by Country, by Type, 2023

Regulatory Impact, by Country, by Type, 2023

Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region Innovation and R&D, by Type, 2023

6. Competitive Landscape



List of Major Companies, By Region

Market Share Analysis, By Region

Product Benchmarking

Strategic Initiatives

Technological Advancements Market Positioning and Branding

7. Fertilizers Market Segmentation, By Form

8. Fertilizers Market Segmentation, By Application

9. Fertilizers Market Segmentation, By Crop Type

10. Fertilizers Market Segmentation, By Product

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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https://menafn.com/1108994837/Fertilizers-Market-To-Reach-USD-3896-Billion-By-2032-Demand-From-Agriculture-Sustainability-And-Increasing-Sustainable-Farming-Practices-Continues-To-Drive-Growth
2024-12-15
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(MENAFN - GlobeNewsWire - Nasdaq) The growth of the fertilizer market is primarily attributed to the growing food demand across the globe, emerging fertilizer technologies, and the adoption of ...
Fertilizers Market To Reach USD 389.6 Billion By 2032 | Demand From Agriculture, Sustainability, And Increasing Sustainable Farming Practices Continues To Drive Growth