Dublin, Oct. 30, 2024 (GLOBE NEWSWIRE) -- The "Fertilizers - Global Strategic Business Report" report has been added to ResearchAndMarkets.com's offering.
The global market for Fertilizers was estimated at US$349 Billion in 2023 and is projected to reach US$408.5 Billion by 2030, growing at a CAGR of 2.3% from 2023 to 2030. This comprehensive report provides an in-depth analysis of market trends, drivers, and forecasts, helping you make informed business decisions. 
What Factors are Driving the Growth of the Fertilizer Market?
The growth in the fertilizer market is driven by several factors. One of the primary drivers is the growing need for food production to meet the demands of a rapidly increasing population. With limited availability of arable land, fertilizers are essential for boosting crop yields and ensuring that farmers can produce more food on the same amount of land. This is particularly crucial in regions like Asia-Pacific and Africa, where food demand is rising rapidly due to population growth and changing dietary preferences.
Another factor is the rising adoption of precision farming and smart agriculture techniques, which are driving the demand for specialty fertilizers tailored to specific crops and soil conditions. As farmers seek to optimize their inputs and reduce costs, there is a growing preference for products like foliar fertilizers, water-soluble fertilizers, and micro-nutrient blends that offer targeted nutrition and enhanced efficiency.
Additionally, the global focus on sustainable agriculture and climate change mitigation is influencing the fertilizer market. The push for lower greenhouse gas emissions and environmentally friendly farming practices is encouraging the use of bio-based and organic fertilizers, as well as technologies that reduce nutrient loss and environmental impact. Government policies and subsidies supporting the use of these sustainable products are further boosting their adoption. The market is also seeing increased investment in research and development aimed at creating next-generation fertilizers that are more efficient, environmentally friendly, and tailored to specific agro-climatic conditions.
Lastly, the expanding use of fertilizers in non-food crops, such as biofuel production and horticulture, is contributing to market growth. As global food and energy demands continue to rise, the fertilizer market is set to grow steadily, supported by innovation and the need for sustainable intensification of agriculture.
Key Insights:
- Market Growth: Understand the significant growth trajectory of the Agriculture Application segment, which is expected to reach US$189.9 Billion by 2030 with a CAGR of a 2.6%. The Horticulture Application segment is also set to grow at 2.1% CAGR over the analysis period.
- Regional Analysis: Gain insights into the U.S. market, which was estimated at $94.8 Billion in 2023, and China, forecasted to grow at an impressive 3.9% CAGR to reach $78 Billion by 2030. Discover growth trends in other key regions, including Japan, Canada, Germany, and the Asia-Pacific.
Report Features:
- Comprehensive Market Data: Independent analysis of annual sales and market forecasts in US$ Million from 2023 to 2030.
- In-Depth Regional Analysis: Detailed insights into key markets, including the U.S., China, Japan, Canada, Europe, Asia-Pacific, Latin America, Middle East, and Africa.
- Company Profiles: Coverage of major players in the Fertilizers market such as Coromandel International Limited, Groupe OCP, Haifa Group, ICL Fertilizers, K+S Group and more.
- Complimentary Updates: Receive free report updates for one year to keep you informed of the latest market developments.
Some of the 272 companies featured in this Fertilizers market report include:
- Coromandel International Limited
- Groupe OCP
- Haifa Group
- ICL Fertilizers
- K+S Group
- Nutrien Limited
- PhosAgro
- Sinofert Holdings Limited
- Sociedad Quimica y Minera (SQM)
- The Mosaic Company
- UralChem JC
- Yara International
- Zao Zavod Binit
Key Attributes
| Report Attribute | Details |
| No. of Pages | 208 |
| Forecast Period | 2023-2030 |
| Estimated Market Value (USD) in 2023 | $349 Billion |
| Forecasted Market Value (USD) by 2030 | $408.5 Billion |
| Compound Annual Growth Rate | 2.3% |
| Regions Covered | Global |
MARKET OVERVIEW
- Influencer Market Insights
- Global Economic Update
- Fertilizers - Global Key Competitors Percentage Market Share in 2024 (E)
- Competitive Market Presence - Strong/Active/Niche/Trivial for Players Worldwide in 2024 (E)
MARKET TRENDS & DRIVERS
- Growing Global Population Propels Demand for Fertilizers to Boost Agricultural Productivity
- Increasing Focus on Sustainable Agriculture Expands Addressable Market for Organic and Eco-Friendly Fertilizers
- Rising Adoption of Precision Farming Technologies Drives Demand for Smart Fertilizer Application Solutions
- Surge in Demand for High-Yield Crops Here`s How It Spurs Growth in Fertilizer Use
- Advances in Controlled-Release Fertilizers Strengthen the Business Case for Efficient Nutrient Delivery Systems
- Increasing Awareness of Soil Health and Nutrient Management Expands Market Opportunity for Specialty Fertilizers
- Growing Emphasis on Climate-Resilient Agriculture Drives Innovation in Fertilizers for Drought and Stress Resistance
- Expansion of Greenhouse and Vertical Farming Propels Growth in Fertilizer Use in Controlled Environments
- Advances in Bio-Based and Microbial Fertilizers Here`s How It Generates New Opportunities in Sustainable Agriculture
- Growing Adoption of Fertigation Techniques Expands Market for Water-Soluble Fertilizers
- Rising Concerns Over Soil Depletion Propel Growth in Fertilizers with Enhanced Soil Health Benefits
- Growing Demand for Specialty Crops and High-Value Agriculture Accelerates Adoption of Customized Fertilizers Solutions
For more information about this report visit https://www.researchandmarkets.com/r/xtlbfb
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