Fertilizer Industry To witness Huge Expansion By 2030

Fertilizer Industry Data Book Covers Nitrogenous, Potassic, Phosphatic, Foliar, Water-soluble Biofertilizers Market, And Fertilizer Additives Markets.

The economic value generated by the fertilizer industry was estimated at approximately USD 200 billion in 2021 and is expected to expand at compounded annual growth rate (CAGR) of – 1.2% from 2022 to 2030. 

Fertilizer Industry Data Book Coverage –

Fertilizer Industry Data Book Coverage Snapshot

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

Nitrogenous Fertilizer Market Report Highlights

• 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.
• In 2021, urea emerged as the dominating product segment by contributing around 33% of revenue share. This is attributed to the affordable cost of urea as compared to the other products.
• Ammonium sulfate was the second-largest product segment and is anticipated to grow at a CAGR of 4.9% by 2030, due to its wide agricultural applications and high solubility.
• Cereals grains segment was the dominant application segment in terms of both in terms of volume and revenue, owing to the increasing demand for food crops such as maize, wheat, barley, rice, and oats.
• As of 2021, Asia Pacific was the dominating regional market owing to the existence of large agricultural lands in the region along with the technological advancements in farming methods

Phosphate Fertilizer Market Report Highlights

The global phosphate fertilizer market size is estimated to reach USD 176.06 billion by 2040, registering a CAGR of 5.7% from 2022 to 2040, according to a new report by Grand View Research, Inc. Growth can be attributed to increasing demand for fertilizers for usage in agricultural applications and is expected to drive the growth of the market during the forecast period.

• The Asia Pacific is projected to have growth over the forecast period due to increasing agricultural production. In revenue terms, the APAC market is expected to expand at a CAGR of 5.8% between 2022 and 2040
• The global market will grow significantly owing to the factors such as increased demand from agricultural producers for a fertilizer that provides necessary nutrients such as nitrogen and potassium
• Cereals and grains appeared as the largest application segment in 2022 and is anticipated to grow at a CAGR of 5.8% between 2022 and 2040. The use of phosphoric fertilizer in cereals and grains is majorly increasing in the production of wheat owing to its increased demand

Biofertilizers Market Report Highlights

The global biofertilizers market size is projected to reach USD 2.70 billion by 2027, expanding at a CAGR of 12.8%, 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.

• North America accounted for the largest market share of 32.6%, in terms of revenue, in 2019 and is projected to grow at a volumetric rate of 12.3% from 2020 to 2027
• Nitrogen fixing biofertilizers are observed to reflect heavy growth in terms of consumption with a CAGR of 12.1% from 2020 to 2027 on account of widespread demand generation from North American and European agricultural communities to boost yield of various cereals
• Among the various crop types, cereals grains captured a significant market with global biofertilizer consumption share of 76.4%. This was majorly due to heavy demand for wheat from various Asian and Latin American countries such as Thailand, Singapore, India, Brazil, and Argentina.

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

Further key findings from the report suggest:

The global water soluble fertilizers market size is expected to reach USD 22.0 billion by 2024, at a registering a CAGR of 6.5% over the forecast period, according to a new report by Grand View Research, Inc.

• Foliar accounted for 30.4% of the overall volume and will show steady growth in light of rising application in various fruits vegetables including tomatoes, beans, and melons. However, high cost as compared to fertigation will pose a challenge to its growth.
• Europe accounted for 37.6% of the overall revenue share in 2015 and is expected to witness significant gains in light of rising food security concern owing to growing population along with high export demand for food products including wheat and cereals from Germany, France, Italy and UK. Moreover, the presence of key participants including Yara International, Bunge Ltd., Agrium, Eurochem, Potash Corp, and CF Industries will promote industry growth.
• Latin America will witness substantial revenue rise at a CAGR of 7.2% from 2016 to 2024 on account of the presence of various major participants including The Mosaic Company, Potash Corp, and Haifa Chemicals. Development of agricultural policies and government schemes to promote micro irrigation systems, which dispenses water soluble fertilizers will augment industry size.
• Water soluble fertilizers industry is dominated by major participants including Agrium Inc., Potash Corp, Israel Chemicals Limited, The Mosaic Company, K+S AG, and Yara International ASA. Ongoing product innovation to produce efficient and cost-effective fertilizers is expected to lead to industry expansion over the next eight years.
• In April 2016, Yara International expanded the Rio Grande fertilizer plant capacity in Brazil to create one of the most modern fertilizer sites. In December 2015, Yara International acquired Greenbelt Fertilizers to expand the fertilizer business in Zambia and surrounding areas that were experiencing fast agricultural growth. In March 2015, Israel Chemicals planned to build a potassium nitrate production plant to meet growing demand for soluble specialty fertilizers.

Fertilizer Additive Market Report Highlights

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.

• Urea end-product accounted for the largest share of 52.5%, in terms of volume, in 2018 due to the availability of the highest nitrogen content as compared to other soluble fertilizers
• The anti-caking function dominated the industry with a share of 36.5% in 2018 owing to the fact that it helps in maintaining the fertilizer quality by preventing formation of flakes and cakes
• North America accounted for 14.1% of the global fertilizer additive market, in terms of revenue, in 2018 owing to government initiatives to promote the agricultural sector by providing subsidies on the purchase of fertilizers
• Brazil leads the regional market in Central South America with agriculture GDP contributing 23.5% in its total economy
• Some of the key industry participants are KAO Corporation, Clariant, Novochem Group, Solvay, Forbon Technology, Filtra Catalysts Chemicals Ltd, ChemSol LLC, and Michelman

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

Competitive Landscape

Key players operating in the Fertilizer industry are –

• Nutrien
• Mosaic Co.
• CF Industries

The fertilizer industry database, compiled by Grand View Research, is a collection of market sizing information forecasts, trade data, pricing intelligence, competitive benchmarking analyses, macro-environmental analyses, and regulatory technological framework studies. Within the purview of the database, such information is systematically analyzed and provided in the form of outlook reports (1 detailed sectoral outlook report) and summary presentations on individual areas of research along with an agricultural statistics e-book.

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About Grand View Research

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