Fertilizer Market is Likely to Experience Healthy Growth During 2022-2028
Stratview Research has published a new report titled “Fertilizer Market” which is segmented by Form Type (Dry, Liquid), by Product Type (Organic [Plant-based Fertilizer, Animal-based Fertilizer, and Mineral-based Fertilizer], Inorganic [Nitrogen, Phosphorous, and Potassium]), by Application Type (Agriculture, Horticulture, Gardening, and Others), and by Region (North America, Europe, Asia-Pacific, and Rest of the World).
As per the study, the market was valued at US$ 197.75 Billion in 2021 and is likely to grow at a CAGR of 2.2% during the forecast period of 2022-2028 to reach US$ 230.29 Billion in 2028.
Report Highlights
This report covers comprehensive data on emerging trends, market drivers, growth opportunities, and restraints that can affect the industry’s market dynamics. It thoroughly analyzes the market segments, including products, applications, and competitor analysis.
The market is bifurcated into various segments. Below given is the segment-wise analysis -
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.
Which Region is expected to remain the largest market?
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.
Who are the Key Players in the Market?
This report provides market intelligence most comprehensively. It also provides critical insights into the key players active in the market, enabling strategic decision-making for the existing market players and those willing to enter the market. The following are the key players acting in the Fertilizer Market:
- 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
Key questions answered by the report.
- What is the projected CAGR for revenue from the Fertilizer Market during the forecast period?
- What would the market be valued at by 2028?
- What is a major driving factor for the growth of the market?
- Which region accounted for the largest revenue share in the Fertilizer Market?
- Which are the major market players?
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