The global fertilizers market size was valued at USD 195.6 billion in 2021 and is poised to grow at a significant CAGR of 2.1% during the forecast period 2022-28. Glance our 200 slides market research and competitive intelligence research report, 25 Tables and 65 Figures and other qualitative sections with an in-depth TOC on “Fertilizers Market: By Type (Organic Fertilizers, Inorganic Fertilizers, Bio-Fertilizers), By Form Type (Granules, Liquid, Gaseous, Others), By Method of Application (Foliar Spraying, Fertigation, Sowing, Broadcasting, Spraying, Drip Method, Others), By Crop Type (Horticulture Crops, Cash Crops, Cereals, Turfs and Ornamental, Crops Plantation, Crops Others), and Geography.”
For more than a century, technology and science have benefitted both the fertilizer business and agriculture as a whole. One of the biggest energy consumers on the planet is fertilizer production. collaborations between the public and private sectors to streamline the registration procedure for novel fertilizers and increase farmers’ access to cutting-edge technology that provides significant agronomic advantages. The NextGen Fertilizer Challenge will encourage innovation while enhancing the adoption of efficient fertilizer product improvements on farms.
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The Fertilizer Market – Growth Factors
To promote both soil health and plant growth, the agriculture sector is increasingly moving away from the use of chemical fertilizers and toward organic and biofertilizers internationally. Due to their ability to hold onto water and nutrients for an extended period of time, these are also known as “soil conditioners” manufactured from plant or animal waste. Additionally, because they can endure temperatures of up to 45 degrees Celsius or higher, organic fertilizers can be stored for a longer amount of time and are safer, faster to decompose, reusable, safe, and environmentally acceptable. Since sales of fertilizer products vary due to climatic circumstances and crop variety, major fertilizer providers are expanding their R&D investment as a result of strict rules and product complexity. Additionally, in order to boost capacity and lower production costs, top suppliers are implementing more recent technology at their manufacturing facilities.
The Fertilizer Market Regional Analysis
The largest fertilizer market in 2021 will be in Asia-Pacific. China, which accounted for over 41.5 percent of the Asia-Pacific fertilizer market in 2021, is the region’s largest fertilizers user. With just 12.65% of the world’s arable land, China feeds 23% of the world’s population. The Action Plan for the Zero Expansion of Fertilizer Consumption was adopted in China in 2015, which resulted in a decline in the growth rate of fertilizer use over the ensuing years. However, a lot of foliar fertilizers have recently been introduced in China.
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Competitive Analysis Fertilizer Market
The major players in the global fertilizers market are Haifa Group, Nutrien Ltd, Yara International ASA, CF Industries Holdings, Inc. Syngenta AG, Agrogalaxy, Bunge Limited, Israel Chemicals Ltd. (ICL), Indian Farmers Fertiliser Cooperative Limited (IFFCO), Sumitomo Chemical Co., Ltd., GÜBRETA, SQM S.A, Gemlik Fertilizer, Inc., Unikeyterra, The Mosaic Company, K+S Group, Groupe OCP
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