Global Fertilizer Market Overview, Trends, Opportunities, Growth and Forecast by 2026
According to the recent report by IMARC Group, titled “Fertilizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global fertilizer market exhibited moderate growth during 2015-2020 and expected to grow at a CAGR of around 4% during 2021-2026.
Fertilizers are natural or chemical substances that are applied to soil for the productive growth of the crops. Some of the essential nutrients present in these fertilizers are nitrogen, phosphorus, and potassium. Apart from offering an improved crop yield, they also enhance the texture and fertility of the soil, replace lost nutrients, and increase water retention. There are two popular variants of fertilizers, namely, inorganic and organic. Inorganic fertilizers are produced using synthetic chemicals that contain all the essential nutrients for the sustainable growth of the crops. On the other hand, organic fertilizers are made from natural raw materials that enrich the soil with vital compounds and promote the reproduction of microorganisms.
The rapidly increasing global population is one of the major growth-inducing factors for the market as it has created an incessant demand for food around the globe. Apart from this, urbanization and industrialization have led to a decline in arable land. As there is a pressure on the existing arable land to produce more food, the demand for advanced fertilizers has consequently increased. Additionally, rising environmental concerns have led to the widespread practice of organic farming and augmented demand for organic food. As a result, small-scale farmers are now shifting toward organic fertilizers from inorganic variants. Furthermore, technological advancements in this field are expected to provide a thrust to the market growth. For instance, there is a high demand for nano-fertilizers, which are being promoted by favorable government policies.
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Note: We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
Global Fertilizer Market 2021-2026 Analysis and Segmentation:
The competitive landscape of the market has been studied in the report with the detailed profiles of the key players operating in the market.
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 and Yara International.
The report has segmented the market on the basis on on region, product type, product, product form and crop type.
Breakup by Product Type:
· Chemical Fertilizer
Breakup by Product:
· Straight Fertilizers
· Complex Fertilizers
Breakup by Product Form:
Breakup by Crop Type:
· Grains and Cereals
· Pulses and Oilseeds
· Fruits and Vegetables
· Flowers and Ornamentals
Breakup by Region:
· North America
· Asia Pacific
· Latin America
· Middle East and Africa
Explore Full Report with TOC & List of Figure: https://www.imarcgroup.com/fertilizer-market
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