According to the recent report by IMARC Group, titled “Fertilizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2023-2028,” The global fertilizer market size reached US$ 170.4 Billion in 2022. Looking forward, IMARC Group expects the market to reach US$ 210.0 Billion by 2028, exhibiting a growth rate (CAGR) of 3.7% during 2023-2028.
Fertilizer represents an additional mixture applied to the soil or plant tissue to provide essential nutrients for growing farm-based crops. They can be broadly classified into organic and inorganic variants. Organic fertilizers are mainly manufactured with carbon-based agricultural waste, livestock manure, industrial waste, municipal sludge, etc., whereas inorganic variants are produced using different chemicals and secondary nutrient sources. Fertilizers are typically utilized to supply specific nutrients that are deficient in the soil, such as potassium, nitrogen, phosphorus, etc. It also aids in maintaining the fertility of the soil and improving its water retention capacity.
Global Fertilizer Market Trends:
The expanding agriculture sector, coupled with the escalating adoption of organic and farm-fresh food products, is primarilydriving the demand for fertilizers. Moreover, the growing consumption of plant-based food sources is further augmenting the need for fertilizers to enhance soil fertility and improving crop growth. Additionally, the emergence of bio-fertilizers due to the rising concerns towards the negative impact of chemical-based fertilizers on soil quality is also positively influencing the global market. Furthermore, the implementation of favorable government policies promoting the use of nano-fertilizers and the development of advanced farming techniques will continue to stimulate the growth of the global fertilizer market over the forecasted period.
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Global Fertilizer Market 2023-2028 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
- CF Industries
- Haifa Group
- Indian Farmers Fertiliser Co-operative Limited (IFFCO)
- Israel Chemicals Ltd. (ICL)
- Nutrien Limited
- Sociedad Química y Minera (SQM)
- The Mosaic Company
- Yara International.
The report has segmented the market on the basis on on region, product type, product, product form and crop type.
Product Type Insights:
- Chemical Fertilizer
- Straight Fertilizers
- Nitrogenous Fertilizers
- Calcium Ammonium Nitrate
- Ammonium Nitrate
- Ammonium Sulfate
- Anhydrous Ammonia
- Phosphatic Fertilizers
- Mono-Ammonium Phosphate (MAP)
- Di-Ammonium Phosphate (DAP)
- Single Super Phosphate (SSP)
- Triple Super Phosphate (TSP)
- Potash Fertilizers
- Muriate of Potash (MoP)
- Sulfate of Potash (SoP)
- Secondary Macronutrient Fertilizers
- Calcium Fertilizers
- Magnesium Fertilizers
- Sulfur Fertilizers
- Micronutrient Fertilizers
- Complex Fertilizers
- Nitrogenous Fertilizers
Product Form Insights:
Breakup by Crop Type:
- Grains and Cereals
- Pulses and Oilseeds
- Fruits and Vegetables
- Flowers and Ornamentals
Breakup by Region:
- North America: (United States, Canada)
- Asia Pacific: (China, Japan, India, South Korea, Australia, Indonesia, Others)
- Europe: (Germany, France, United Kingdom, Italy, Spain, Russia, Others)
- Latin America: (Brazil, Mexico, Others)
- Middle East and Africa
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Key highlights of the report:
- Market Performance (2017-2022)
- Market Outlook (2023- 2028)
- Porter’s Five Forces Analysis
- Market Drivers and Success Factors
- SWOT Analysis
- Value Chain
- Comprehensive Mapping of the Competitive Landscape
If you need specific information that is not currently within the scope of the report, we can provide it to you as a part of the customization
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