Efficiency and Precision: Fertilizer Industry’s Role in Modern Farming 2022-2030

Posted on 2023-08-01 by researchinsights in Chemicals // 0 Comments

CITY, Country, 2023-Aug-01 — /EPR Network/ —

Fertilizer Industry | Forecast 2030

Fertilizer Industry Data Book – Nitrogenous, Potassic, Phosphatic, Foliar, Water-soluble & Biofertilizers, And Fertilizer Additives Market

The economic value generated by the fertilizer industry was estimated at approximately USD 200 billion in 2021. This economic output is an amalgamation of businesses that are involved in the manufacturing of fertilizers & their additives, distribution & supply, and application of fertilizers. With changing dietary habits and an increase in global income levels in tandem with population growth, the world’s food demand is projected to increase by 59%, by 2050, from the current levels.

Fertilizer Industry Data Book Coverage Snapshot

Markets Covered

Fertilizers Market

201.3 Million Tons in 2021, CAGR (2022-30) – 1.2%

Nitrogenous Fertilizers Market Size

113.3 Million Tons in 2021, CAGR (2022-30) – 1.2%

Potassic Fertilizers Market Size

39.7 Million Tons in 2021, CAGR (2022-30) – 1.6%

Phosphatic Fertilizers Market Size

48.8 Million Tons in 2021, CAGR (2022-30) – 1.5%

Foliar Fertilizers Market Size

8.01 Million Tons in 2021, CAGR (2022-30) – 2.8%

Biofertilizers Market Size

1.4 Million Tons in 2021, CAGR (2022-30) – 6.0%

Water-soluble Fertilizers Market Size

7.1 Million Tons in 2021, CAGR (2022-30) – 6.5%

Fertilizers Additives Market

8.01 Million Tons in 2021, CAGR (2022-30) – 2.8%

Access the Global Fertilizer Industry Data Book, 2022 to 2030, compiled with details like market sizing information & forecasts, trade data, pricing intelligence, competitive benchmarking, macro-environmental analyses, and regulatory & technological framework studies

Biofertilizers Market Growth & Trends

The global biofertilizers market size is projected to reach USD 3.9 billion by 2030, registering a CAGR of 12.8% from 2023 to 2030, according to a new report by Grand View Research, Inc. Rising demand for organically produced food products across emerging economies backed with growing economic stability is the key boost to the marketspace.

Organic food products are naturally-derived without utilizing any food additives or synthetic chemicals. Key contributors to the organic food market include organically produced meat and dairy products, organically cultivated fruits and vegetables, and naturally-derived beverages, which include both alcoholic as well as non-alcoholic beverages. Growing consumer preference for healthy eating habits globally coupled with rising disposable income levels of individuals in the emerging economies of Asia Pacific, including Indonesia, Japan, India, and Thailand, is projected to boost the demand for organic food and beverage products in the region.

Order your copy of the Free Sample of “Fertilizer Industry Data Book – Nitrogenous, Potassic, Phosphatic, Foliar, Water-soluble & Biofertilizers, And Fertilizer Additives Market Size, Share, Trends Analysis And Segment Forecasts, 2022 – 2030” Data Book, published by Grand View Research

Fertilizer Additive Market Growth & Trends

The global fertilizer additives market size is projected to reach USD 4.01 billion by 2025, according to a new report by Grand View Research, Inc. Decreasing per capita arable land and rising population density has resulted in increased demand for fertilizers in the agriculture sector, which in turn has boosted the growth.

The growing fertilizers industry and limited availability of farmland are the key drivers for the global market. However, harmful effects of fertilizers on environment along with lack of awareness & availability of the product in underdeveloped economies is expected to have a negative impact on the industry.

The Asia Pacific was the largest fertilizer additive market in 2018 and accounted for 53.1% of the volume share. The robust growth of the agriculture sector in this region is one of the main factor driving the industry. In countries like India and China, the population explosion has significantly impacted the agriculture sector.

China is one of the developed countries in the Asia Pacific region with a constantly growing agricultural sector and advancements in terms of innovations and new technology development. Due to the population explosion, the amount of arable land in China has reduced severely over the past two decades. This factor has increased the demand for fertilizers, resulting in the growth of the additives market.

Go through the table of content of Fertilizer Industry Data Book to get a better understanding of the Coverage & Scope of the study

Nitrogenous Fertilizer Market Growth & Trends

The global nitrogenous fertilizer market size is estimated to reach USD 94.02 billion by 2030 according to a new report by Grand View Research, Inc. Growth can be attributed to the increasing awareness amongst farmers regarding maintaining nutritional balance in the soil. Increasing population across the globe has generated the need to improve the annual crop yield to feed the population, which has boosted the agriculture sector across the globe. Hydrogen and nitrogen are the major raw materials used for manufacturing nitrogenous fertilizers. Nitrogen is required in large quantities by plants and is the primary nutrient in fertilizers. Hydrogen is a crucial component of ammonia, which is an important ingredient in numerous fertilizers. Nearly all commercial-scale ammonia incorporates nitrogen and hydrogen. Raw material Availability impacts nitrogenous fertilizer prices and production.

Key manufacturers are investing profoundly in R&D activities for launching new products and broadening their product portfolios. Major players in the market are increasing the reach of their products to a larger consumer base by setting up retail outlets at strategic locations in various countries to support farming communities in the respective localities. The Asia Pacific is expected to register significant growth in the coming years owing to the presence of numerous agrarian economies such as China, India, Indonesia, and others in the region. India and China are expected to lead the nitrogenous fertilizer market over the forecast period.

Competitive Insights

Fertilizer markets across the globe returned to making profits in Q2 2022. This is followed by a supply squeeze of essential crop nutrients in the wake of the Russian invasion of Ukraine. Sanctions on Belarus and Russia, which are amongst the top producers of potash behind Canada, a key nutrient of potassium fertilizers, led to an increase in the mineral’s prices to levels registered back during the 2008 food crisis. The sanctions left a 35% void in the global output of potash.

Prices of potash were already on the rise last year due to sanctions on Belarusian state-owned company Belaruskali, in response to President Lukashenko’s crackdown on political opponents. But Russia’s invasion of Ukraine and subsequent sanctions exasperated the trend since Russia is also a leading producer & supplier of nitrogen, phosphate, urea, and ammonia to the world. These chemicals are other major ingredients in various fertilizer formulations. The rise in prices would benefit the operating margins of top fertilizers manufacturers such as Nutrien, Mosaic Co., CF Industries in the short to medium term.

Check out more Industry Data Books, published by Grand View Research

About Grand View Research

Grand View Research, U.S.-based market research and consulting company, provides syndicated as well as customized research reports and consulting services. Registered in California and headquartered in San Francisco, the company comprises over 425 analysts and consultants, adding more than 1200 market research reports to its vast database each year. These reports offer in-depth analysis on 46 industries across 25 major countries worldwide. With the help of an interactive market intelligence platform, Grand View Research helps Fortune 500 companies and renowned academic institutes understand the global and regional business environment and gauge the opportunities that lie ahead.

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