Fertili-zer Market - Rising Population Especially in Growing Countries is Expected to Lead to Market Growth – Growing at a Compound Annual Growth Rate (CAGR) 2.3% from 2022 to 2028
As stated in our extensive report; providing insights on Key Drivers, Key Restraints, and Segments (i.e., by Application, Form, Product, and Region); the Global Fertili-zer Market accounted for USD 191.5 Billion in the year 2021.
“Key Factors Likely to Drive Growth of Fertili-zer Market”
Fertili-zers are natural or synthetic substances comprising chemical components that increase the broadening and effectiveness of plants. Fertili-zers raise the soil’s natural productivity or rehabilitate the chemical components extracted from the soil by previous crops. Modern Fertili-zers involve nitrogenous, potash, and phosphate Fertili-zers. Some Fertili-zers additionally involve "micronutrients" comprising zinc and metals, which are required for plant growth. The Fertili-zers market is segregated by type (straight and complex), crop type (Grains & Cereals, Pulses & Oilseeds, Commercial Crops, Fruits & Vegetables, and Others).
Fertili-zers are chemical compounds that appeal to plant tissues or soil to provide one or more nutrients required for plant growth. Higher crop yields are invigorated while soil nutrient availability is preserved and increased. The utilization of organic Fertili-zers has arisen, enabling farmers to exploit Fertili-zers more safely and effectively while abbreviating the probability of toxic Fertili-zer exposure.
The rising population, especially in growing countries, is expected to increase the demand for Fertili-zers. The Fertili-zers play an essential role in improving crop productivity by enhancing soil fertility and supporting the growth of crops. The increasing population has led to an increase in the demand for food. Although a rise in awareness campaigns to develop farmers concerning the benefits of Fertili-zers, such as encouraging the use of Fertili-zers via television advertisements and workshops, are propelling the growth of the Fertili-zer Market. Thus, highly productive Fertili-zers are rapidly expanding in the agriculture business in several fields, such as cereals and industrial crops.
Asia Pacific holds the largest market share due to the increasing agricultural practices and requirement for high-quality agricultural produce in this region. India, China, Japan, and Vietnam are anticipated to increase the highest market share due to being highly fragmented with various well-established and large-scale Fertili-zer companies.
Some of the key players in the Global Fertili-zer Market include- CF Industries Holdings Inc., GÜBRETA, Indian Farmers Fertiliser Cooperative Limited (IFFCO), Haifa Group, Syngenta AG, Unikeyterra, SQM S.A, Yara International ASA, BAGFAŞ, Sumitomo Chemical Co., Ltd., Gemlik Fertilizer, Israel Chemicals Ltd. (ICL), Bunge Limited Inc., Nutrien Ltd., and others.
Browse the full Report - Fertilizer Market Size, Share & Trends Analysis Report by Form (Dry, Liquid), by Product (Organic, Inorganic), by Application (Agriculture, Horticulture, Gardening, Others), by Region (North America, Europe, Asia Pacific, Latin America) - Global Industry Assessment (2016 - 2021) & Forecast (2022 - 2028)