A fertilizer is a material of synthetic or natural origin that is applied to soil or plant tissues to provide critical nutrients. It is a chemical mixture that is added to the soil for supplying it with essential nutrients and thereby increase the yield. Fertilizers generally have three main macronutrients, namely Nitrogen (N), Potassium (K), and Phosphorus (P). They can be organic or inorganic in nature. Organic fertilizers are produced from carbon-based agricultural waste, livestock manure, industrial waste, municipal sludge, etc., while inorganic variants are manufactured using various secondary nutrients and chemicals. Fertilizers provide specific nutrients to the soil and are crucial for sustainable and scalable food production. They are used in farming processes across the globe.
According to IMARC Group, the global fertilizer market size reached US$ 176.4 Billion in 2023. Looking forward, IMARC Group expects the market to reach US$ 236.9 Billion by 2032, exhibiting a growth rate (CAGR) of 3.2% during 2024-2032.
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The escalating requirement to enhance soil fertility and crop growth is one of the primary factors driving the fertilizer market. In line with this, the development of advanced farming techniques to streamline agricultural processes is further catalyzing the market growth. Moreover, the increasing utilization of bio-fertilizers is acting as another significant growth-inducing factor. Apart from this, the implementation of favorable policies and regulations by government bodies aimed at promoting the usage of nano-fertilizers for the maintenance of flat green grounds and fields is anticipated to drive the fertilizer market over the forecasted period.
Top Fertilizer Companies in the World:
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
Uralkali
Yara International
Key Highlights:
• Market Performance (2018-2023)
• Market Outlook (2024-2032)
• COVID-19 Impact on the Market
• Porter’s Five Forces Analysis
• Historical, Current and Future Market Trends
• Market Drivers and Success Factors
• SWOT Analysis
• Structure of the Market
• Value Chain Analysis
• Comprehensive Mapping of the Competitive Landscape
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