Fertilizer Market Size, Share & Analysis Report, 2022-2030
The global fertilizer market size was valued at US$ 201.1 billion in 2021 and is expected to hit US$ 271.6 billion by 2030 with a CAGR of 3.4% from 2022 to 2030.
Key Takeaways:
Fertilizer are materials of synthetic or natural origin that are applied to plant tissues or to soil in order to supply one or more nutrients to plants that are essential for their growth. It aids in higher crop production while maintaining and also improving soil nutrient availability. The increasing penetration of organic fertilizers has enabled farmers to use fertilizers more safely and efficiently, thereby minimizing the risk of exposure to harmful fertilizers.
The global agricultural industry faces a plethora of challenges. According to the United Nations, the global population is expected to grow beyond nine billion by 2050. This will exert tremendous pressure on the agricultural industry, which is dealing with a loss of productivity due to the shortage of labor and shrinking of agricultural lands due to rapid urbanization. According to the Food and Agricultural Organization, more than 70% of the world population is anticipated to reside in urban areas. The reduction in arable lands across countries is compelling farmers to increase their agricultural output by using fertilizers.
Various government and non-government entities around the world are creating awareness to highlight the use of fertilizers and their positive impact on agriculture output. The promotion of fertilizers through radio, TV, and rural centers is expected to have a positive impact on the fertilizer market share. Moreover, increasing rural incomes along with easy and fast availability of credit are also anticipated to drive revenue generation.
Report Scope of the Fertilizer Market
| Report Coverage | Details |
| Market Size by 2030 | USD 230.4 Billion |
| Growth Rate from 2022 to 2030 |
CAGR of 3.4% |
| Largest Market | Asia Pacific |
| Fastest Growing Market | North America |
| Base Year | 2021 |
| Forecast Period | 2022 to 2030 |
| Segments Covered | Form, Product, Application and Region, Geography |
| Companies Mentioned | Haifa Group, Nutrien Ltd., Yara International ASA, CF Industries Holdings, Inc., Syngenta AG, Bunge Limited, Israel Chemicals Ltd. (ICL), Indian Farmers Fertiliser Cooperative Limited (IFFCO), Sumitomo Chemical Co., Ltd., GÜBRETA, SQM S.A, Gemlik Fertilizer, Inc., Unikeyterra, Band?rma Gübre Fabrikalar? A.S., etc. |
Key Market Trends
Decreasing Per Capita Arable Land and Increasing Food Demand
The global population is increasing at a rapid rate. This growing population is adding to the food demand. Supplying food to this growing population has become a threat. On the other hand, arable land is declining due to industrialization and urbanization. The FAO revealed in 'The Resource Outlook to 2050' that at this time, more than 1.50 billion hectares of the world’s land surface (about 12%) is used for crop production. There is little scope for further expansion of agricultural land.
As per several reports, the per capita arable land area will decline to 0.18 ha by 2050 across the world, compared to 0.15 ha in developing countries and 0.42 ha in developed countries. Further, the global population of 7.4 billion in 2016 is projected to increase to 9.7 billion by 2050, with almost all increases occurring in developing countries. Thus, it is recommended that global food production be increased by 60.0% to 70.0% between 2005 and 2050. As a result of population expansion and a steady land degradation rate, the per capita land is expected to decrease in the future. Thus, this has led to a situation where there is pressure on the existing arable land to produce more food using technologically advanced fertilizers in a sustainable way.
Asia-Pacific Dominates the Market
Asia-Pacific is the largest fertilizers market and accounts for around 60.0% of the overall market. Southeast Asia is the major fertilizer consumer in Asia-Pacific, with China representing approximately half of the consumption. The demand for nitrogenous fertilizers in Asia is recorded as strong. However, the market for potassium fertilizers is expected to grow significantly in the coming years. Demand in Southeast Asia is expected to grow further with the increasing use of neem coated urea, upscaling of Direct Benefit Transfer to farmers, and rapid adoption of water-soluble fertilizers.
In the Asia-Pacific region, rice is a big nitrogen-consuming crop. In 2017, rice production in Asia accounted for 35.0% of the total fertilizer consumption. Oil palm, the second-largest consumer of fertilizers, accounts for 17.0% of the total fertilizer consumption and 50.0% of potash consumption in Asia. Rice and oil palm production growths are expected to remain robust, driven by population and economic growths in the region.
Some of the prominent players in the Fertilizer Market include:
Haifa Group, Nutrien Ltd., Yara International ASA, CF Industries Holdings, Inc., Syngenta AG, Bunge Limited, Israel Chemicals Ltd. (ICL), Indian Farmers Fertiliser Cooperative Limited (IFFCO), Sumitomo Chemical Co., Ltd., GÜBRETA, SQM S.A, Gemlik Fertilizer, Inc., Unikeyterra, Band?rma Gübre Fabrikalar? A.S., etc.
Segments Covered in the Report
This research report offers market revenue, sales volume, production assessment and prognoses by classifying it on the basis of various aspects. Further, this research study investigates market size, production, consumption and its development trends at global, regional, and country level for the period of 2017 to 2030 and covers subsequent region in its scope:
By Form
By Product
By Application
By Geography
North America
Europe
Asia Pacific
Latin America
Middle East & Africa (MEA)
Key Points Covered in Fertilizer Market Study:
Cross-segment Market Size and Analysis for Mentioned Segments
Additional Company Profiles
(Upto 5 With No Cost)
Additional Countries (Apart
From Mentioned Countries)
Country/Region-specific Report
Go To Market Strategy
Region Specific Market DynamicsRegion Level Market Share Import Export AnalysisProduction AnalysisOthers