Dublin, Jan. 03, 2025 (GLOBE NEWSWIRE) -- The "Portugal Fertilizer Market | Trends, Value, Size, Share, Revenue, Growth, Analysis, Outlook, Industry, Forecast, Companies & Segmentation: Market Forecast By Type, By Crop Type And Competitive Landscape" report has been added to ResearchAndMarkets.com's offering.
Portugal Fertilizer Market revenue size is anticipated to grow at a CAGR of 3.8% during 2024-2030F
The annual rate of change in goods and services consumed in agriculture surged to 30.0% in 2022, and investment-related inputs increased by 10.7%. Additionally, per capita fruit consumption rose from 148.1 kg in 2021 to 151.2 kg in 2022, reflecting higher demand for quality produce. Local production of grains and tree nuts has also grown, with the grain market reaching $298 million in 2023 and tree nuts production rising to $205 million. This increased consumption necessitates higher production levels, making fertilizers essential for providing nutrients for healthy crop growth and optimal yields, significantly boosting the Portugal fertilizer market.
Portugal fertilizer market experienced a decline in 2021 and 2022 due to a significant 50% increase in the price of inorganic fertilizers, which has led to a decrease in consumption. However, the market is expected to witness a resurgence in the coming years, driven by the country's goal to boost daily consumption of fruits and vegetables to 400 grams per person across all age groups by 2030. According to the 2023 Food Barometer, 90% of Portuguese consumers have started focusing on healthy eating, with 51% adopting more nutritious diets over the past year. However, only 23% currently consume 11 to 14 healthy meals per week, indicating significant growth potential for the agricultural sector.
Additionally, increasing investments in agriculture, as highlighted by JLL, show that Portugal's agricultural sector is set to attract over $536 million in investments within the next two years. This capital is intended to enhance agricultural and forestry activities, directly boosting fertilizer demand. These investments would also support the development of various initiatives, such as the CAP Strategic Plan, and optimize existing agricultural practices, thus increasing the need for high-quality fertilizers to ensure improved crop yields.
Further, The CAP Plan would provide substantial funding for various agricultural initiatives in Portugal, including USD 343 million to support small farmers and USD 740 million to assist 14% of farms in sectors such as beef, dairy, small ruminants, and rice, thereby improving food security through protein crop and cereal production.
Additionally, $536,000 would be allocated to promoting agro-environmental and climate knowledge, while $1.93 million would establish farm and forestry advisory services in the Azores and Madeira. These investments would significantly boost fertilizer demand by increasing agricultural activity and improving crop yields and productivity. Enhanced advisory services and agro-environmental knowledge would promote efficient fertilizer use, supporting Portugal's agricultural sector in the upcoming years.
Market Segmentation by Type
Inorganic fertilizers have the highest revenue share in Portugal fertilizer industry due to their immediate effectiveness in enhancing crop yields and their widespread use in intensive farming practices. These fertilizers provide essential nutrients quickly and efficiently, unlike organic fertilizers, which release nutrients more slowly and may not meet the immediate high demands of intensive agriculture.
Market Segmentation by Fertilizer Content
Fertilizers with more than 10% nitrogen dominate the Portugal fertilizer market due to the high nutrient demands of key crops, government subsidies, and farmer preferences for higher yields. Additionally, technological advancements, efficient formulations, and well-established distribution networks further support their widespread use and availability. However, fertilizers with less than 10% nitrogen are expected to grow rapidly owing to the rising consumption of organic fertilizers, as in the majority of organic fertilizers, nitrogen content is less than 10%.
Market Segmentation by Formulation
Liquid fertilizers are expected to have the highest growth rate in upcoming years in the Portugal's fertilizer market owing to their ease of application and rapid nutrient absorption. Their ability to be precisely applied through irrigation systems enhances efficiency and reduces waste, making them increasingly popular among farmers seeking to optimize crop yields and resource use.
Market Segmentation by Application
Agriculture has the highest revenue share in the application segment of Portugal's fertilizer market owing to the country's extensive agricultural activities, including diverse crop production like olive groves, vineyards, and cereals. The high demand for fertilizers to enhance crop yields and support intensive farming practices drives significant revenue from agricultural applications.
Market Segmentation by Region
In 2023, the Central region of Portugal has the highest fertilizer volume share, due to its extensive agricultural activities, particularly in areas like Castile-La Mancha and Catalonia. Further, these regions benefit from fertile soils and favourable climates, supporting the cultivation of high-demand crops such as cereals, fruits, and vegetables. Moreover, advanced farming techniques and substantial investment in agricultural infrastructure further enhance fertilizer use in the Central region.
Key Attractiveness of the Report
- 10 Years Market Numbers.
- Historical Data Starting from 2020 to 2023.
- Base Year: 2023
- Forecast Data until 2030.
- Key Performance Indicators Impacting the Market.
- Major Upcoming Developments and Projects.
Key Highlights of the Report:
- Portugal Fertilizer Market Overview
- Portugal Fertilizer Market Outlook
- Portugal Fertilizer Market Forecast
- Portugal Fertilizer Trends & Evolution
- Historical Data and Forecast of Portugal Fertilizer Market Revenues and Volume, for the Period 2020-2030F
- Market Drivers and Restraints
- Historical Market Data and Forecast of Revenues and Volume, By Type, for the Period 2020-2030F
- Historical Market Data and Forecast of Volume, By Fertilizer Content, for the Period 2020-2030F
- Historical Market Data and Forecast of Revenues, By Formulation, for the Period 2020-2030F
- Historical Market Data and Forecast of Revenues, By Applications, for the Period 2020-2030F
- Fertilizer Outlook
- Key Performance Indicators
- Market Opportunity Assessment
- Key Strategic Recommendations
- Market Scope and Segmentation
Portugal Fertilizer Market - Competitive Landscape
- Portugal Fertilizer Market Revenue Ranking, By Top 3 Companies, 2023
- Portugal Fertilizer Market Competitive Benchmarking, By Technical Parameters / Operating Parameters
Company Profiles
- Grupo Fertiberia
- EuroChem Group
- Industrias Quimicas Fervalle S.L.
- Yara International ASA
- Tecniferti, S.A.
- Haifa Negev Technologies ltd
- Dfgrupo
- Fertigal
- Nutrofertil
- Baduberia Lda
The report provides a detailed analysis of the following market segments:
By Type
- Organic Fertilizers (Compost, Manure Etc.)
- Inorganic Fertilizers (Nitrogen, Phosphate, Potassium Etc.)
By Inorganic Fertilizers
- NPK
- Others (Nitrogen, Phosphate, Etc)
By Fertilizer Content
- N>10
- N< 10
By Formulation
- Solid Fertilizers (Granules, Powder)
- Liquid (Solutions, Suspensions)
By Application
- Agriculture (Small, Commercial Farms)
- Horticulture (Greenhouses, Nurseries)
- Gardening (Home Gardening, Public Parks and Gardens)
By Region
- Northern (Asturias, Cantabria, Bosque, Navarre, Castile and Leon, Galician, Rioja)
- Central (Madrid, Castile-La Mancha, Catalonia, Extremadura, Aragon, Azores)
- Southern (Andalusia, Murcia, Valencian, Balearic Islands, Canary Island, Madeira)
For more information about this report visit https://www.researchandmarkets.com/r/ewg2y9
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