Fertilizer Market Synopsis

Fertilizer Market Size Was Valued at USD 206.97 Billion in 2023, and is Projected to Reach USD 281.83 Billion by 2032, Growing at a CAGR of 3.49% From 2024-2032.

Fertilisers are synthetic mixes of chemicals that contain N, P, K, and other necessary elements. which, when distributed throughout the soil, provide the ideal quantity of essential nutrients. All plants require specific mineral nutrients to thrive. These minerals are found naturally in the soil, and plant roots absorb them from it. Plant health is often maintained by the presence of these minerals in most soils. But to maintain the best possible development and look, some nutrients must be replenished because they are either progressively consumed by the plants or wash out of the soil. Nitrogen (N), Phosphorus (P), and Potassium (K) are the most frequently depleted mineral nutrients.

• Fertilizer-treated plants have higher insect resistance. Because they are using fewer pesticides and herbicides, their crops are now healthier. Consequently, fewer diseases have been reported, improving the crops' overall appearance.
• Fertilisers deepen roots and increase a plant's ability to retain water. Plant stalks and straws are strengthened by the fertilisers' potassium concentration. Plants can develop their roots and seeds more quickly thanks to the phosphorus found in fertilisers. The green tint of the plants indicates that the fertilisers contain nitrogen, which promotes plant development.
• Fertilisers are used in gardening and agriculture to boost soil fertility and promote plant growth, both of which raise crop yields. Their composition, which might be synthetic or organic, is meant to supplement the nutrients that plants require. Fertilisers are crucial to modern agriculture because of their capacity to support the healthy and sustainable growth of food crops.

Fertilizer Market Trend Analysis

Fertiliser Use Is Influenced by Food Demand

• The population of the globe is expected to increase by 35% over the next forty years. Agriculture will need to produce much more to feed the growing population. Most of the growth in agricultural production is expected to come from intensifying or growing more food on already-existing acreage, even if some new farmland will likely be needed. On the biodiversity of the world's most productive croplands as well as the carbon (C) stores in the soil and plants, however, such intensification and expansion may have unfavourable effects. Increasing agricultural yields and reducing the difference between achievable and real yields can be accomplished through the use and advancement of various techniques and technologies. For example, effective nutrient management and appropriate fertiliser use can be crucial for ensuring global food security.
• The lack of vital minerals reduces resistance to disease, raises mortality, impairs cognitive development, inhibits growth, and reduces work productivity, making this hidden hunger a serious public health concern. Micronutrient deficits of iron, zinc, iodine, and vitamin A are now the most common and severe concern. Preschoolers, teenage mums, and women in general who are of reproductive age are especially at risk because of their increased needs.
• The usage of mineral fertilisers has kept food costs much lower than they would have been otherwise by greatly boosting agricultural production on a global scale. Instead of having a very minimal fertiliser application, the impoverished in LMICs have been able to purchase healthier diets, albeit still inadequate. Crop micronutrient concentration is directly impacted by fertiliser application.
• Increasing the amount of nitrogen that plants receive throughout the reproductive growth stage enables them to store more zinc and iron in their grains from their leaves and stems. The strong positive correlation between grain zinc and iron concentrations and grain protein concentrations. Applying nitrogen fertilisers to biofortified crops has thus been demonstrated to work in concert, increasing the trace mineral density of these already reasonably nutritious crops.

Restraints

Excess Use of Chemical Fertilisers Affect Environment

• Concern over the purity of the water and nutrient leaching Nutrient leaching is a significant environmental problem that affects water quality in many habitats, including metropolitan areas, rural areas, and natural settings. It occurs when an excessive amount of nutrients, such as nitrogen and phosphorus, are carried away from the soil's surface by rainfall or irrigation and end up in groundwater, lakes, streams, and rivers. One of the most frequent problems with water quality brought on by fertiliser leaching is eutrophication. An oxygen shortage in aquatic life can lead to fish fatalities and the disruption of entire aquatic ecosystems.
• The effects of climate change and greenhouse gas emissions the Usage of fertilisers produces greenhouse gas emissions, and these emissions and the associated feedback to climate change are significant environmental problems. Carbon dioxide emissions are produced during the production and distribution of synthetic fertilisers, particularly nitrogen fertilisers, which need substantial energy inputs. Moreover, increasing the amount of nitrogen fertiliser applied to the soil could alter its carbon dynamics and increase its CO2 emissions. One of the main causes of climate change is greenhouse gas emissions from fertilisers.

• Another environmental effect is, the effect of acid rain on ecosystems is gradually being documented, particularly in temperate region Nitrogenous fertilizers contribute substantially towards emissions of ammonia, one of the agents causing acid rain. A high atmospheric concentration of ammonia can result in acidification of land and water surfaces, cause plant damage and reduce plant biodiversity in natural systems. Excess of ammonia deposited causes eutrophication effect of N. Deposition of NH3 contributes to acidification of soils if nitrified. which can impact soil nutrient cycling and agricultural production.

 Opportunity

 Application of organic and water-soluble fertilisers

• As some regions get drier, more irrigation and water-soluble fertilisers (WSF) are being used. The most current IFA assessment of the consumption of unique items shows this pattern. The use of other types of Special Products, including as controlled release and stabilised nitrogen fertilisers, is also growing because of various factors, including environmental regulations.
• Fertilizer market has intricated segmentation, which is based on their types, crop types, applications and geographical ratio of production, demand and supply. Water-soluble fertilizers have four major types, namely micronutrient, nitrogenous, potassic and phosphatic. All these four types have proved their advantages over various harmful chemical fertilizers that compromise the quality of the crop as well as soil on the long run.
• Fertigation and foliar applications are the basic application methods for these fertilizers. The current market is led by fertigation application, while the foliar application has just started being introduced. The major drivers of this market include popularity of the micro irrigation systems, government subsidies for eco-friendly fertilization of crops, increasing number of greenhouses and effectiveness of these fertilizers.
• These fertilizers have faster absorption rate, which means they get quickly absorbed into the soil. As a result, they prove cost effective in comparison with many of their counterparts. These fertilizers are cost effective in many ways. Considering the high absorption rate and crop quality, they reduce the purchase cost. With their easy application techniques, they also reduce labour costs. Horticultural, turf, field and ornamental crops can gain special benefits from these fertilizers. These organic and water-soluble fertilizer have benefited the crop production in all type. Which result as increased use of the fertilizer.

Challenges

High Expense of Fertilisers, Declining the Revenue of the Market

• From a very competitive worldwide market. Greater distances and transportation rerouting will result in increased expenditures, pushing fertiliser prices further higher and/or causing shortages if they are able to obtain supply from other exporting nations. Because fertiliser imports account for at least 50% of the fertiliser used in seventy-five countries, disruptions on global markets will quickly spread, affecting even those nations that do not purchase directly from Belarus or Russia.
• The IFPRI's Food and Fertiliser Export Restrictions Tracker reveals that five countries have implemented such measures, collectively reducing the global trade of each individual nutrient by 20%. In this context, the export policies of key countries are critical in shaping market stability. Several weak nations are being severely impacted by these export restrictions, including Mongolia, which is caught between Chinese and Russian policy. Trade remedies, or anti-dumping duties imposed by importing nations that may influence market prices, are another problem. Examples include the United States and the European Union's phosphate remedy, which is now in place, and the urea ammonia nitrate (UAN) remedy that is being considered.
• The reason regional and local dealers base their price to farmers on what they pay producers, importers, and merchants is because of the supply chain. In addition to the cost of the fertilisers they purchase, dealers must additionally pay for their overhead and other expenses, such as fertiliser storage. Spread out over a few months so farmers can access them when needed). Transport expenses, such as those associated with transferring fertilisers from their country of origin to their country of application and with local distribution—that is, the cost of bringing goods to distribution and storage facilities before they are distributed to farmers—make up a sizeable portion of the total price that farmers must pay. Due to different pricing implication on the market will affect the mark.

Fertilizer Market Segment Analysis:

Fertilizer market is segmented on the basis of By Type, By Form, By Application Mode, By Application, By Distribution, And By End users.

By Type, Organic Segment Is Expected to Dominate the Market During the Forecast Period

• The percentage of goods cultivated using organic methods is rising globally, and the usage of organic fertilisers is becoming more and more popular. A variety of leftover materials utilised for plant nutrition are summed up under the term "organic fertiliser." Slurry, digestate, manure, straw, compost, green manure, sewage sludge, and meat-and-bone meal are a few of the most significant organic fertilisers. These organic fertilisers play a major role in the global supply of nutrients needed for crop production. Biological materials are used to make organic fertilisers. The materials used to make these fertilisers are either living or once living. Organic farming is encouraged by the advancement of organic fertiliser application. Eliminating the usage of artificial fertilisers is the primary demand of this type of farming.
• High nutrient content is a benefit of using organic fertiliser. Important plant nutrients including potassium, phosphate, and nitrogen are readily available from organic fertilisers. Organic fertilisers improve soil health by increasing soil fertility and structure. They aid in the soil's increased organic matter content, which improves the soil's structure and capacity to hold water. Organic fertilisers promote good microbial activity in the soil, which may enhance the amount of nutrients available to plants. Organic fertilisers are environmentally friendly since their sources are natural and renewable. By reducing greenhouse gas emissions, water pollution, and soil deterioration, they reduce the need for artificial fertilisers, which could be detrimental to the ecosystem. The demand for organic fertilisers has increased because of consumers moving towards eating more organic food.

By Application, Agriculture Segment Held the Largest Share In 2023

• Over the course of the projection period, the agriculture subsegment is expected to have the major share. The sub-segment of agriculture had the largest revenue share. The need for fertiliser in agriculture has increased dramatically due to the growing global population, globalisation, and the creation of smart cities, all of which have reduced the amount of arable land available and raised the need for food. Fertilisers are necessary to meet crop nutritional needs, maintain soil nutrient levels, and boost agricultural productivity.
• Therefore, raising agricultural production is essential to supplying the world's expanding population with food. Because of this, fertiliser application in agriculture is essential to maintaining the proper balance of nutrients in the soil. Fertilisers can help farmers make profitable adjustments. By applying fertiliser at higher rates to their main cash and feed crops, operators can lower expenses per unit of production and raise the margin of return over total cost. When acreage is converted from surplus crops to other purposes, they are then able to invest in soil conservation and other necessary upgrades.

Fertilizer Market Regional Insights:

Asia-Pacific Is Expected to Dominate the Market Over the Forecast Period

• Asia-Pacific is forecast to contribute to the growth in global fertilizer the reason for the dominance for the market is presence of world most populous countries. Such as India and China, which increases substantial agriculture activity and creating a massive demand for fertilizer to enhance crop yields. It also maximises the utilisation of conventional resources. Since this agricultural management system helps to foster sustainable agriculture, it can address growing ecological and economic issues. For instance, sophisticated technologies include sensors, drones, and satellite photos to precisely determine soil conditions and nutrient requirements. This makes it possible for farmers to apply fertilisers more effectively, cutting down on waste and maximising crop uptake of nutrients. The Asia Pacific fertilisers market is expanding because of the use of technology-driven solutions.

Source: International-fertilizer-association-ifa

• Between FY 2023 and FY 2032, regional fertilizer markets can be classified in five types: Driving markets: South Asia and Latin America, with top contributions and comfortable growth rates (5% to 7% between FY 2023and FY 2032). Mature markets: East Asia, North America and WCE, with average contributions to global growth and low growth rates (2% to 4%). Fertilizer consumption in East Asia is expected to be driven by countries other than China in this period. Weather-dependent market: Oceania, which would grow by 7% over the three years, from an El Niño -affected basis in FY 2023.Recovering and growing markets: Africa (+17%) and West Asia (+10%) Uncertain market: EECA, which would grow by 13% based on an assumed gradual recovery in agricultural production and fertilizer use. The mix of largest contributing regions depends on the nutrient. EECA, Latin America, South Asia and Africa account for 67% of the growth in world N use between FY 2023 and FY 2032. South Asia, Latin America and Africa account for 65% of growth in global P2O5 use growth. Latin America, South Asia and East Asia account for 68% of growth in world K2O use.
• The usage of water-soluble fertilisers (WSF) and irrigation is increasing as some areas get drier. This pattern is seen in the most recent IFA evaluation of the consumption of Unique Items. Due to several circumstances, including environmental requirements, the usage of other types of Special Products, such as stabilised nitrogen fertilisers and controlled released fertilisers, is also increasing.
• Global Nutrient Use Efficiency (NUE) has improved significantly since the 1990s, as indicated in a new dataset released in November 2022 and prepared by a working group gathering experts in FAO, IFA and several universities. The NUE for N is calculated as the ratio of N outputs over N inputs, considering in the N inputs not only mineral fertilizers but also manure applied to soils, biological fixation, and atmospheric deposition. This trend of increasing NUE is expected to continue over the next years, and maybe even accelerate as new products and new technologies become available. Improved efficiency of fertilizers and other nutrient inputs could affect the rate of growth in global fertilizer use.

Fertilizer Market Active Players

• Intrepid Potash (USA)
• CVR Partners (USA)
• The Mosaic Company (USA)
• CF Industries (USA)
• Nutrien (Canada)
• Yara International (Norway)
• BASF SE.(Germany)
• K+S AG(Germany)
• Uralkali (Russia)
• Mangalore Chemicals and Fertilizers (India)
• Southern Petrochemical Industries Corp (India)
• National Fertilizers (India)
• Rastriya Chemicals and Fertilizers (India)
• Chambal Fertilisers (India)
• Coromandel (India)
• Indian Farmers Fertiliser Co-operative Limited (IFFCO)(India)
• Wesfarmers (Australia)
• GÜBRETAŞ(Turkey)
• Saudi Arabian Fertilizer Company (Saudi Arabia)
• Fertiglobe (UAE)
• Israel Chemicals (Israel)
• Haifa Group (Israel)
• OCI (Nether land)
• Sociedad Química y Minera (SQM) (Santiago) And other Key Players.

Key Industry Developments in the Fertilizer Market:

• In June 2024, Yara International ASA has completed a successful placement of senior unsecured green bonds with a total amount of NOK 2,750 million. The transaction was split into three tranches. An amount equal to the net proceeds from the green bond issuance will be used in accordance with Yara’s Green Financing Framework.
• In September 2023, BASF broadens its Monomers Portfolio and launches bio-based 2-Octyl Acrylate Ludwigshafen, Germany – BASF is expanding its growing portfolio of bio-based monomers with a proprietary process for production of 2-Octyl Acrylate (2-OA). The new product underlines BASF’s strong commitment to innovation for a sustainable future with 73% 14C-tracable bio-based content according to ISO 16620.

1. INTRODUCTION
   1. RESEARCH OBJECTIVES
   2. RESEARCH METHODOLOGY
   3. RESEARCH PROCESS
   4. SCOPE AND COVERAGE
      1. Market Definition
      2. Key Questions Answered
   5. MARKET SEGMENTATION
2. EXECUTIVE SUMMARY
3. MARKET OVERVIEW
4. GROWTH OPPORTUNITIES BY SEGMENT
5. MARKET LANDSCAPE
   1. PORTER’S FIVE FORCES ANALYSIS
      1. Bargaining Power of Supplier
      2. Threat Of New Entrants
      3. Threat Of Substitutes
      4. Competitive Rivalry
      5. Bargaining Power Among Buyers
   2. INDUSTRY VALUE CHAIN ANALYSIS
   3. MARKET DYNAMICS
      1. Drivers
      2. Restraints
      3. Opportunities
      4. Challenges
   4. MARKET TREND ANALYSIS
   5. REGULATORY LANDSCAPE
   6. PESTLE ANALYSIS
   7. PRICE TREND ANALYSIS
   8. PATENT ANALYSIS
   9. TECHNOLOGY EVALUATION
   10. MARKET IMPACT OF THE RUSSIA-UKRAINE WAR
       1. Geopolitical Market Disruptions
       2. Supply Chain Disruptions
       3. Instability in Emerging Markets
   11. ECOSYSTEM
6. FERTILIZER MARKET BY TYPE (2017-2032)
   1. FERTILIZER MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. ORGANIC
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors and Opportunities
      5. Geographic Segmentation Analysis
   4. INORGANIC
7. FERTILIZER MARKET BY FORM (2017-2032)
   1. FERTILIZER MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. DRY
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. LIQUID
8. FERTILIZER MARKET BY APPLICATION MODE (2017-2032)
   1. FERTILIZER MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. FERTIGATION
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. FOLIAR
   5. SOIL
9. FERTILIZER MARKET BY APPLICATION (2017-2032)
   1. FERTILIZER MARKET SNAPSHOT AND GROWTH ENGINE
   2. MARKET OVERVIEW
   3. HORTICULTURE
      1. Introduction And Market Overview
      2. Historic And Forecasted Market Size in Value (2017-2032F)
      3. Historic And Forecasted Market Size in Volume (2017-2032F)
      4. Key Market Trends, Growth Factors And Opportunities
      5. Geographic Segmentation Analysis
   4. AGRICULTURE
   5. FLORICULTURE
10. FERTILIZER MARKET BY DISTRIBUTION (2017-2032)
    1. FERTILIZER MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. STATE COORPERATIVE MARKETING FERDERATION
       1. Introduction And Market Overview
       2. Historic And Forecasted Market Size in Value (2017-2032F)
       3. Historic And Forecasted Market Size in Volume (2017-2032F)
       4. Key Market Trends, Growth Factors And Opportunities
       5. Geographic Segmentation Analysis
    4. STATE AGRO INDUSTRIES CORPORATION
    5. MARKETERS/WHOLESALERS
    6. OWN DEPOTE OUTLETS
11. FERTILIZER MARKET BY ENDUSERS (2017-2032)
    1. FERTILIZER MARKET SNAPSHOT AND GROWTH ENGINE
    2. MARKET OVERVIEW
    3. INDUSTRIALIZED AGRICULTURE
       1. Introduction And Market Overview
       2. Historic And Forecasted Market Size in Value (2017-2032F)
       3. Historic And Forecasted Market Size in Volume (2017-2032F)
       4. Key Market Trends, Growth Factors And Opportunities
       5. Geographic Segmentation Analysis
    4. SUBSISTENCE AGRICULTURE
12. COMPANY PROFILES AND COMPETITIVE ANALYSIS
    1. COMPETITIVE LANDSCAPE
       1. Competitive Benchmarking
       2. Fertilizer Market Share By Manufacturer (2023)
       3. Industry BCG Matrix
       4. Heat Map Analysis
       5. Mergers & Acquisitions
    2. INTREPID POTASH (USA)
       1. Company Overview
       2. Key Executives
       3. Company Snapshot
       4. Role of the Company in the Market
       5. Sustainability and Social Responsibility
       6. Operating Business Segments
       7. Product Portfolio
       8. Business Performance (Production Volume, Sales Volume, Sales Margin, Production Capacity, Capacity Utilization Rate)
       9. Key Strategic Moves And Recent Developments
       10. SWOT Analysis
    3. CVR PARTNERS (USA)
    4. THE MOSAIC COMPANY (USA)
    5. CF INDUSTRIES (USA)
    6. NUTRIEN (CANADA)
    7. YARA INTERNATIONAL (NORWAY)
    8. BASF SE.(GERMANY)
    9. K+S AG(GERMANY)
    10. URALKALI (RUSSIA)
    11. MANGALORE CHEMICALS AND FERTILIZERS (INDIA)
    12. SOUTHERN PETROCHEMICAL INDUSTRIES CORP (INDIA)
    13. NATIONAL FERTILIZERS (INDIA)
    14. RASTRIYA CHEMICALS AND FERTILIZERS (INDIA)
    15. CHAMBAL FERTILISERS (INDIA)
    16. COROMANDEL (INDIA)
    17. INDIAN FARMERS FERTILISER CO-OPERATIVE LIMITED (IFFCO)(INDIA)
    18. WESFARMERS (AUSTRALIA)
    19. GÜBRETAŞ(TURKEY)
    20. SAUDI ARABIAN FERTILIZER COMPANY (SAUDI ARABIA)
    21. FERTIGLOBE (UAE)
    22. ISRAEL CHEMICALS (ISRAEL)
    23. HAIFA GROUP (ISRAEL)
    24. OCI (NETHER LAND)
    25. SOCIEDAD QUÍMICA Y MINERA (SQM) (SANTIAGO)
13. GLOBAL FERTILIZER MARKET BY REGION
    1. OVERVIEW
    2. NORTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Type
       4. Historic And Forecasted Market Size By Form
       5. Historic And Forecasted Market Size By Application Mode
       6. Historic And Forecasted Market Size By Application
       7. Historic And Forecasted Market Size By Distribution
       8. Historic And Forecasted Market Size By End users
       9. Historic And Forecasted Market Size By Country
          1. USA
          2. Canada
          3. Mexico
    3. EASTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Russia
          2. Bulgaria
          3. The Czech Republic
          4. Hungary
          5. Poland
          6. Romania
          7. Rest Of Eastern Europe
    4. WESTERN EUROPE
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Germany
          2. United Kingdom
          3. France
          4. The Netherlands
          5. Italy
          6. Spain
          7. Rest Of Western Europe
    5. ASIA PACIFIC
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. China
          2. India
          3. Japan
          4. South Korea
          5. Malaysia
          6. Thailand
          7. Vietnam
          8. The Philippines
          9. Australia
          10. New-Zealand
          11. Rest Of APAC
    6. MIDDLE EAST & AFRICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Turkey
          2. Bahrain
          3. Kuwait
          4. Saudi Arabia
          5. Qatar
          6. UAE
          7. Israel
          8. South Africa
    7. SOUTH AMERICA
       1. Key Market Trends, Growth Factors And Opportunities
       2. Key Manufacturers
       3. Historic And Forecasted Market Size By Segments
       4. Historic And Forecasted Market Size By Country
          1. Brazil
          2. Argentina
          3. Rest of South America
14. INVESTMENT ANALYSIS
15. ANALYST VIEWPOINT AND CONCLUSION
    1. Recommendations and Concluding Analysis
    2. Potential Market Strategies