Fertilizer Market Analysis & Forecast | 2022-2028

Insights

The Fertilizer Market is estimated to grow from USD 197.75 Billion in 2021 to reach USD 230.29 Billion by 2028 at a healthy CAGR of 2.2% during the forecast period of 2022-2028.

What is Fertilizer?

Fertilizer is a type of chemical or natural substance added to soil or land to increase its fertility, i.e. to increase its ability to support plant growth.

Key Players

Some of the key players in the market are-

• CF Industries Holdings, Inc.
• Nutrien Ltd.
• Yara International ASA
• Bunge India Private Limited
• Haifa Group
• Indian Farmers Fertiliser Cooperative Limited
• Israel Chemicals Ltd.
• Sumitomo Chemical Co., Ltd.
• The Mosaic Company
• The Syngenta Group

Drivers

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The growth of the Fertilizer Market is primarily driven by the-

• The rapidly growing population and its increasing demand for food, water-soluble, and organic fertilizers are the major factors fuelling the growth of the market.
• Increasing the use of organic fertilizers is expected to encourage farmers to fertilize more efficiently and safely.
• The need for enhanced soil nutrients, coupled with increased crop yield, is expected to rise over the period, making fertilizers even more in demand.

Segmentation

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By Form Type

The Dry Form of Fertilizers is expected to witness a significant growth rate in the market during the forecast period owing to the cost-effective and easy storage nature of dry fertilizers.

The market is segmented as dry and liquid. These fertilizers can form fertilizer blends and are more efficient for heavy pre-plant applications as they offer slow-release options, which help in feeding crops longer into the season, accelerating the segment’s growth.

By Product Type

Organic Product type is estimated to register high growth during the forecast period.

The market is segmented as organic and inorganic. The organic segment is further categorized into plant-based, animal-based, and mineral-based fertilizers.  The growth of the segment is attributed to the provision of slow feed for plants and enhancement in the water-holding capacity of plants in addition to soil structure and tilth.

By Application Type

Agriculture is estimated to account for the major share of the market during the forecast period owing to the fast implementation and easy adoption of fertilizers in the agriculture industry.

The market is segmented into agriculture, horticulture, gardening, and others.  Growing product demand from Asia-Pacific, Europe, and Africa for producing wheat, barley, maize, etc., and the usage of fertilizers in the agricultural fields to supply the needed elements which are usually found naturally in the soil is further expected to fuel the overall market growth.  

By Region

Asia-Pacific is estimated to be the largest region in the market during the forecast period owing to rapid growth in population and increasing demand for food in the region.

Further, growing demand for fertilizers in various countries of the region, such as China, India, Pakistan, Bangladesh, and Vietnam, and increasing investments and government subsidies in the fertilizer sector are the other major factors expected to fuel the growth of the regional market.

North America and Europe are also expected to offer substantial growth opportunities during the forecast period.

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The fertilizer market is segmented into the following categories.

By Form Type:

• Dry
• Liquid

By Product Type:

• Organic
  • Region: North America, Europe, Asia-Pacific, and RoW
  • Product Type: Plant-based Fertilizer, Animal-based Fertilizer, and Mineral-based Fertilizer
• Inorganic
  • Region: North America, Europe, Asia-Pacific, and RoW
  • Product Type: Nitrogen, Phosphorous, and Potassium

By Application Type:

• Agriculture
• Horticulture
• Gardening
• Others

By Region:

• North America
• Europe
• Asia-Pacific
• Rest of the World

Report Features

This report provides market intelligence most comprehensively. The report structure has been kept such that it offers maximum business value. It provides critical insights into the market dynamics and will enable strategic decision-making for the existing market players as well as those willing to enter the market.

The following are the key features of the report:

• Overview, industry life cycle analysis, supply chain analysis.
• Environment analysis: Growth drivers and constraints, Porter’s five forces analysis, SWOT analysis.
• Trend and forecast analysis.
• Segment trend and forecast.
• Competitive landscape and dynamics: Market share, product portfolio, Technology launches, etc.
• Attractive segments and associated growth opportunities.
• Emerging trends.
• Strategic growth opportunities for the existing and new players.
• Key success factors.

Target Audience

The following is a list of the customers that the market aims to convert the most:

• Manufacturers
• Suppliers
• Distributors
• Organizations
• Government bodies.

Research Methodology

This report offers high-quality insights and is the outcome of a detailed research methodology comprising extensive secondary research, rigorous primary interviews with industry stakeholders, and validation and triangulation with Stratview Research’s internal database and statistical tools.

More than 1,000 authenticated secondary sources, such as company annual reports, fact books, press releases, journals, investor presentations, white papers, patents, and articles have been leveraged to gather the data. We conducted more than 15 detailed primary interviews with the market players across the value chain in all four regions and with industry experts to obtain both qualitative and quantitative insights.

Customization Options

Stratview Research offers one of the following free customization options to our respectable clients:

Company Profiling

• Detailed profiling of additional market players (up to 3 players)
• SWOT analysis of key players (up to 3 players)

Competitive Benchmarking

• Benchmarking of key players on the following parameters: Product portfolio, geographical reach, regional presence, and strategic alliances

Custom Research: 

Stratview Research offers custom research services across sectors. In case of any custom research requirement related to market assessment, competitive benchmarking, sourcing and procurement, target screening, and others, please send your inquiry to sales@stratviewresearch.com.