Clifton, New Jersey, March 02, 2023 (GLOBE NEWSWIRE) -- The world's population continues to grow, and so does the demand for food. Farmers need to produce more food to feed the growing population, and fertilizers help to increase crop yields and improve food production. As rural areas develop, there is a decrease in the amount of land dedicated to agriculture. This results in increased demand for fertilizers, to maintain soil fertility and ensure high crop yields. Soil degradation is a major problem that affects agricultural productivity. Fertilizers help to replenish nutrients in the soil that have been depleted due to intensive farming practices, ensuring that crops continue to grow and yield. Climate change is having an impact on agriculture, with changing weather patterns affecting crop yields. Fertilizers can help mitigate the effects of climate change by improving the resilience of crops and ensuring they are better able to withstand extreme weather conditions.
However, there are some factors that restrict the growth of fertilizers. It can have adverse effects on the environment, including soil degradation, water pollution, and GHG emissions, and the overuse of fertilizers can result in adverse health effects. As a result, governments impose regulations on fertilizer use to mitigate these impacts. Additionally, Fertilizers can be expensive, especially for small-scale farmers. While in some regions, fertilizers may not be readily available due to limited access to markets where fertilizers are sold.
Key Takeaways:
- Asia-Pacific region dominates the fertilizer market and is expected to be valued at USD 120 Billion by 2027.
- Nitrogenous Fertilizers remain the most commonly used fertilizer, due to their low cost and high yields.
- Vegetables & Fruits and Cereals & Grains account for almost 80% of the total fertilizers used as they are critical to food security and nutrition for billions of people around the world.
- Liquid fertilizers will be in high demand over the forecast period, due to ease of use, even spraying, and quick absorption rate.
- China, USA & India together account for 40% of the global fertilizer market.
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Liquid fertilizers to be in huge demand over the coming years, due to the rise of alternative farming techniques like indoor farming, vertical farming, greenhouse farming, and others. Liquid fertilizers are often used in hydroponic vertical farming systems because they can be easily delivered through a drip irrigation system or other hydroponic setups. Liquid fertilizers can be formulated to provide a precise mix of nutrients based on the specific needs of the plants being grown, and they can be quickly absorbed by plant roots. However, the only limiting factor is, liquid fertilizers may be more expensive than dry fertilizers and may require more frequent application. On the other hand, dry fertilizers are commonly used in soil-based vertical farming systems or in hydroponic systems that use an inert growing medium, such as perlite or vermiculite. The choice of liquid fertilizer in agriculture may depend on factors such as the type of crop being grown, the nutrient requirements of those crops, and the soil conditions in the growing area. Farmers and agricultural professionals may work with soil testing labs or crop consultants to determine the most effective liquid fertilizer program for their specific needs.
Cereals and grains are some of the most widely produced crops in the world and are used for food, feed, and industrial purposes. According to data from the Food and Agriculture Organization of the United Nations (FAO), the top five kinds of cereal produced globally in 2020 were maize (corn), rice, wheat, barley, and sorghum. These five crops accounted for over 80% of total cereal production worldwide. Cereals and grains are grown in a wide range of countries, from large producers such as the United States, China, and India to smaller producers in Africa, Europe, and Latin America. They are often grown in large-scale monoculture systems, although some farmers may also use intercropping or crop rotation systems to improve soil health and reduce pest pressure.“The demand for complex fertilizers will grow significantly at a growth rate of 5.22%, for crops that require a range of nutrients, like corn, wheat, soybeans, and cotton. This is because of its versatility and a mix of primary, secondary, and micronutrients. The balanced mix of nutrients for optimal plant growth makes them a popular choice for many farmers and agricultural producers.” Says, Mr. Dhwipal Shah, Research Director with Bonafide Research.
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Nitrogenous fertilizers are the most used fertilizers by farmers as they are less expensive, readily available, and efficient. However, Phosphatic fertilizers have a higher value share as they tend to be more expensive than nitrogenous fertilizers. This is because the production of phosphatic fertilizers typically requires more complex processing and manufacturing methods compared to nitrogenous fertilizers, which can be produced more easily and cost-effectively using methods such as the Haber-Bosch process. In addition, the global supply of phosphorus, which is a key component of phosphatic fertilizers, is relatively limited compared to nitrogen, which can be sourced from the atmosphere. The use of Potash fertilizer, which is a source of potassium, is limited due to factors such as cost and availability. Potash is typically found in underground deposits that can be expensive and challenging to mine and extract. In addition, some soils may already contain high levels of potassium, which can reduce the need for additional potash fertilization. In some cases, other types of fertilizers may be more widely used due to cost, availability, or other factors.
Yara International ASA and OCP Group are the two leading companies in the Global Fertilizer Market 2021 with nearly 12% of the total share. Yara International ASA is a Norwegian-based company that has grown to become a leading global player in the fertilizer industry. It operates in over 60 countries and has a strong presence in key agricultural markets such as Brazil, India, and the United States. The company's product portfolio includes a range of fertilizers, including nitrogen, phosphorus, and potassium fertilizers, as well as specialty fertilizers and micronutrient products. Yara is committed to sustainability and has set ambitious targets for reducing greenhouse gas emissions and improving resource efficiency in its operations. The company is also a leading advocate for sustainable agriculture and works closely with farmers, governments, and other stakeholders to promote sustainable food production and reduce the environmental impact of agriculture. OCP Group, also known as Office Chérifien des Phosphates, is a Moroccan-based company that is one of the world's largest producers of phosphates and phosphate-based fertilizers. It operates throughout the entire phosphate value chain, from mining and extraction to processing, manufacturing, and distribution. The company's phosphate reserves are among the largest in the world, and it has significant production capacity for a range of phosphate-based fertilizers, including di-ammonium phosphate (DAP), mono-ammonium phosphate (MAP), and triple superphosphate (TSP). OCP Group is a key supplier of phosphate-based fertilizers to markets around the world, including Asia, Latin America, and Europe, and it has a strong presence in emerging markets such as India and sub-Saharan Africa.
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The Asia Pacific region is expected to utilize 246.31 MMT of fertilizers by the estimated year 2022. The Asia-Pacific fertilizer market is dominated by cereals and grains, which make up around 43.54% of the overall fertilizer market. To this end, regional governments have been focusing on improving the quality and quantity of crop yields to cater to the ever-expanding population base. Due to the higher awareness regarding lifestyle choices associated with health conditions, individuals are consuming more fresh agricultural produce. China and India are major agricultural producers in the Asia-Pacific region, mainly due to the large availability of arable land and the vast population leading to increasing food demand. With substantial government financial assistance to encourage mechanization and productivity in agriculture, this growth trend is expected to continue.
The European region is expected to utilize 92.96 MMT of fertilizers by the estimated year 2022. Europe is one of the major exporters of fertilizer in global markets, with Russia & Ukraine being the most prominent fertilizer producers. However, the Russia-Ukraine war can potentially have an impact on the fertilizer market in Europe. If the war disrupts fertilizer production and transportation in Ukraine, it could lead to a shortage of fertilizers in Europe, which could drive up prices. This would be particularly problematic for farmers who depend on fertilizers to maintain their crop yields. Moreover, the political instability and uncertainty resulting from the conflict could deter investors from investing in the Ukrainian fertilizer industry, which could further impact the supply of fertilizers in Europe. Furthermore, the conflict may lead to economic sanctions being imposed on Russia, which is another major fertilizer producer. Such sanctions could restrict Russia's ability to export fertilizers to Europe, leading to a further tightening of the supply of fertilizers and potentially driving up prices.
The North American region is expected to utilize 82.23 MMT of fertilizers by the estimated year 2022. The United States is the largest producer and consumer of fertilizers in North America. The country produces a wide variety of fertilizers, including nitrogen, phosphate, and potash-based fertilizers, which are used in crop production across the country. The demand for fertilizers in the US is primarily driven by the large-scale agriculture industry, which requires high volumes of fertilizers to maintain crop yields. Canada is another significant producer of potash and phosphate fertilizers. The country also has vast reserves of other minerals used in fertilizer production, such as sulfur and magnesium. Mexico is a growing market in the North American fertilizer industry, with the country increasingly relying on fertilizer imports to meet its growing agricultural needs. Mexico is primarily a consumer of nitrogen-based fertilizers, which are used to improve the quality and yield of crops. However, the market may face challenges related to environmental regulations and sustainability concerns, which could impact fertilizer production and consumption patterns in the region.
The Latin America region is expected to utilize 64.39 MMT of fertilizers by the estimated year 2022. The country produces a variety of fertilizers, including nitrogen, phosphate, and potash-based fertilizers, to meet the needs of its large-scale agriculture industry. The demand for fertilizers in Brazil is driven by the need to improve crop yields and maintain soil fertility. Argentina has vast reserves of minerals used in fertilizer production, such as sulfur and potassium, which make it an important player in the global fertilizer industry. Other countries in the region, such as Colombia, Peru, and Chile, are also emerging markets for fertilizers, driven by increasing demand for food and the need to improve crop yields. The Latin American fertilizer market is expected to experience steady growth in the coming years, driven by the increasing demand for food and the need to improve agricultural productivity.
The Middle East & Africa region is expected to utilize 55.89 MMT of fertilizers by the estimated year 2022. The region's climate is predominantly arid or semi-arid, limiting the amount of arable land available for farming. However, there are also areas within the MEA region that are suitable for agriculture, particularly along the Nile River and in the Mediterranean coastal regions. Countries such as Egypt, Morocco, and Tunisia have developed significant agricultural industries, with the cultivation of crops such as wheat, rice, and citrus fruits. Egypt has vast reserves of minerals used in fertilizer production, such as phosphate rock and sulfur. Morocco is a major exporter of phosphate rock, which is used in the production of phosphate fertilizers. Other countries in the region, such as Nigeria, South Africa, and Kenya, are also emerging markets for fertilizers, driven by increasing demand for food and the need to improve agricultural productivity. Overall, the Middle East and Africa fertilizer market is expected to expand steadily in the coming years, driven by rising food demand and the need to boost agricultural productivity.
Considered in the Report
- Geography: Global
- Historic Year: 2016
- Base year: 2021
- Estimated year: 2022
- Forecast year: 2027
Table of Content
1. Executive Summary
2. Report Methodology
3. Market Structure
3.1. Market Considerate
3.2. Market Definition
4. Economic /Demographic Snapshot
5. Global Fertilizer Market Outlook
5.1. Market Size
5.1.1. By Value
5.1.2. By Volume
5.2. Market Share
5.2.1. By Region
5.2.2. By Country
5.2.3. By Company
5.2.4. By Application
5.2.5. By Nutrient Type
5.2.6. By Product Type
5.2.7. By Physical Formulation
6. Global Nitrogenous Fertilizer Market Outlook
6.1. Market Size
6.1.1. By Value
6.1.2. By Volume
6.2. Market Share
6.2.1. By Region
6.2.2. By Country
6.2.3. By Physical Formulation
| Market Segmentation | Details |
| By Nutrient Type |
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| By Product Type |
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| By Application |
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| By Physical Formulation |
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| By Region | |
| By Country | |
| Company profiles |
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| Other Market Details |
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Related Reports:
The Global Nitrogenous Fertilizer Market is anticipated to grow at a CAGR of 5.27% over the forecast period. Nitrogen is an essential nutrient for plant growth and is a major component of proteins, chlorophyll, and other important plant compounds. Nitrogen can be lost from the soil through leaching, volatilization, and denitrification, which can lead to environmental problems such as the eutrophication of water bodies and greenhouse gas emissions. To address these issues, there has been a growing focus on developing more sustainable nitrogen management practices, such as precision agriculture, the use of slow-release fertilizers, and the adoption of crop rotation and cover crop systems. Urea is a commonly used nitrogenous fertilizer for corn, wheat, and barley. It is a versatile fertilizer that can be used for both foliar and soil applications and can be blended with other nutrients such as phosphorus and potassium. Ammonium nitrate is applied to crops such as potatoes, strawberries, and other high-value crops. Ammonium sulfate is used for crops such as rice, wheat, and soybeans. It is particularly useful in soils that are alkaline or have a high pH, as it can help to lower the pH of the soil and improve nutrient availability.
The Global Phosphorus Fertilizer Market is anticipated to grow slowly at a CAGR of 3.88% over the forecast period. Phosphorus is important for root development, flowering, fruiting, and overall plant health. It can be applied directly to the soil or incorporated into the seedbed before planting. Phosphorus fertilizer can also be applied as a foliar spray to provide a quick boost of nutrients to the plant. However, excessive use of phosphorus fertilizer can lead to algal blooms and other negative impacts on aquatic ecosystems. Diammonium phosphate (DAP) is applied to crops such as corn, soybeans, and wheat. It is a versatile fertilizer that provides both phosphorus and nitrogen to the plant and can be used in both acidic and alkaline soils. MAP is often applied to crops such as vegetables, fruits, and oilseeds. TSP is applied to sugarcane, citrus, and cotton. Proper soil testing and nutrient management practices can help to ensure that the appropriate fertilizer is selected and applied in the most effective way.
The Global Potassium Fertilizer Market is anticipated to grow slowly, at a CAGR of 3.39% over the forecast period. Potassium is important for plant functions such as water regulation, nutrient uptake, and enzyme activation. Potassium fertilizer is commonly applied to crops such as potatoes, soybeans, corn, and cotton. It is also important for crops such as fruits and vegetables, which have a high demand for potassium. However, excessive use of potassium fertilizer can lead to soil salinization and nutrient imbalances. Potassium chloride (KCl) is applied to crops such as corn, soybeans, and wheat. Potassium sulfate is often applied to crops such as fruits, vegetables, and tobacco. Other potassium fertilizers, such as potassium nitrate and potassium magnesium sulfate, are also used in some regions and for some crops.
The Global Animal Feed Market is anticipated to grow at a CAGR of 2.90% during the forecast period. The demand for high-quality proteins among animals is rising across the globe. With many advancements taking place in technology, producers need to manage their time effectively and efficiently in order to meet the increased protein requirements of animals, which they get from feed. This, in turn, is continuously raising demand for meat-sourced products among animals. Animal feeds are an important source of foods for animals, as they help them enhance their abilities by providing enriched nutrients that accelerate growth, promote weight gain, and develop strong immunity. Most significant food ingredients include proteins, vitamins, and every other nutritional factor in a balanced state to help their growth process. Rapid urbanisation and growing consumption of meat and other end products for animal feeds are driving the animal feed market around different opportunities. In 2021, the Asia-Pacific region is leading the market, followed by Europe and North America. However, Latin America and the Middle East and Africa are projected to occupy more than 18% of the market by 2027.
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