Fort Collins, Colorado, Nov. 23, 2023 (GLOBE NEWSWIRE) -- According to DataHorizzon Research, The Fertilizers Market size was valued at USD 197.4 Billion in 2022 and is expected to have a market size of USD 279.1 Billion by 2032 with a CAGR of 3.6%.
Plants require specific nutrients to grow and produce a bountiful harvest. Whether synthetic or natural, fertilizers provide these essential nutrients to the soil. Fertilizers improve the soil's fertility by replenishing the chemical elements that previous crops have depleted. As the world's population continues to grow and food trends shift towards healthier options, the demand for fertilizers is expected to increase, driving the expansion of the fertilizers industry in developed and developing nations.
As plants require essential nutrients for their growth and soil quality, fertilizers are vital in fulfilling these requirements. With the need for improved soil nutrients, higher crop yield, and urbanization, the demand for fertilizers is expected to grow in the coming years despite the loss of arable land.
As the number of people inhabiting the planet is expanding rapidly, there is a need to enhance agricultural productivity to meet the rising requirement for food. Fertilizers are crucial in modern agriculture by aiding crop yields, enhancing soil fertility, and providing crops with vital nutrients. Therefore, the fertilizers market is expected to experience growth due to the increasing global population.
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Segmentation Overview:
The global fertilizers market has been segmented into form, type, application, and region. Dry fertilizers are prevalent in the market primarily due to lower production and transportation costs. However, with the growing concern for safety and the environment, organic fertilizers are becoming increasingly popular. This is because they are made from natural materials and are less likely to harm the soil, water, and surrounding ecosystems. In addition, they help improve soil quality and provide essential nutrients to crops, leading to better yields and higher-quality produce.
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Fertilizers Market Report Highlights:
- The global fertilizers market growth is anticipated to have a CAGR of 3.6% by 2032.
- As the global population continues to grow, keeping pace with evolving dietary habits and rising demand for food is crucial. Fortunately, the fertilizer market is poised for growth, with improving crop yields and government initiatives creating the ideal environment for expansion. Join us in supporting this vital industry and ensuring a food-secure future for all.
- The Asia-Pacific is expected to grow significantly due to increased food consumption and a shift towards organic farming.
- Some prominent players in the fertilizers market report include Nutrien, Yara International, Mosaic Company, Israel Chemicals Limited, OCI, CF Industries, Syngenta AG, Indian Farmers Fertilizer Cooperative Limited, Bunge Limited, Gemlik Fertilizer, among others.
Industry Trends and Insights:
- Yara International signed a contract to transport CO2 produced at its Netherlands plant to Norway to be buried under the seabed as of 2025.
- The Mosaic Company has formed the Mosaic Biosciences platform to bring the latest science and innovation to the agriculture market, enhancing crop health and supporting the natural biology of plants and soil to maximize yield potential.
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Fertilizers Market Segmentation:
By Form: Dry, Liquid
By Type: Organic, Inorganic
By Application: Agriculture, Horticulture, Gardening, Others
By Region: North America, Latin America, Europe, Asia Pacific, the Middle East and Africa.
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DataHorizzon is a market research and advisory company that assists organizations across the globe in formulating growth strategies for changing business dynamics. Its offerings include consulting services across enterprises and business insights to make actionable decisions. DHR’s comprehensive research methodology for predicting long-term and sustainable trends in the market facilitates complex decisions for organizations.
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