Fertilizers Market - Forecast(2021 - 2026)

 

Fertilizers Market Overview

Fertilizers Market size is forecast to reach $202.89 million by 2026 after growing at a CAGR of 4.5% during 2021-2026. Global nutrient demand, poor economic outlook, depressing crop prices, increasing market pressure, and unpredictable energy prices; are the prime factors fueling the demand of fertilizers. Further, presence of limited arable land with ever-increasing food demand due to rise in population has put pressure to increase food productivity, which resulted in increased usage of fertilizers.


Report Coverage

The report: “Fertilizers Market - Forecast (2021-2026)”, by IndustryARC, covers an in-depth analysis of the following segments of the Fertilizers industry.
By Type: Organic Fertilizers, Inorganic Fertilizers, and Bio-Fertilizers. 
By Form: Granules, Liquid, Gaseous and Others. 
By Method of Application: Foliar Spraying, Fertigation, Sowing, Broadcasting, Spraying, Drip Method, and Others
By Application: Agriculture, Gardens, Sports Fields, and Others
By Crop Type: Horticulture Crops, Cash Crops, Cereals, Turfs and Ornamental Crops, Plantation Crops, and Others.
By Geography: North America, South America, Europe, APAC, and RoW.


Key Takeaways

  • Asia Pacific dominates the fertilizers market owing to rapid increase in food demand and agriculture industry. 
  • The major technological innovations in the industry, along with growing demand for bio-based and micronutrient fertilizers, are expected to drive the market. 
  • The market drivers and restraints have been assessed to understand their impact over the forecast period. 
  • The report further identifies the key opportunities for growth while also detailing the key challenges and possible threats.
  • The other key areas of focus include the various applications and end-use industry in Fertilizers market and their specific segmented revenue.


Fertilizers Market Segment Analysis - By Type

Inorganic fertilizers held the largest share of more than 50% in the fertilizers market in 2020. Nutrient management is a key issue in sustainable soil fertility. The global supply of ammonia, phosphoric acid and potash is estimated at around 270 million tons from a total capacity of 310 to 315 million tons. Of all the regions, the demand for nitrogen fertilizers was the highest in the Americas, South Asia and Western Europe. Nevertheless, small supply surpassed demand in these markets. Chemical fertilizers face some risks from a health point of view. While it contributes to plant growth and improves yield, it shakes soil pH at the back of long-term use; repeated applications appear to lead to the build-up of toxic chemicals such as arsenic, cadmium and uranium in the soil; and the risk of over-use of fertilizers can disrupt the entire microbial environment, causing pests to rise and contribute to greenhouse gases.


Fertilizers Market Segment Analysis - By Forms

Liquid held the largest share in the Fertilizers market in 2020. The liquid formulation held the largest share in the fertilizers market. The ease of application and transportation are the key drivers for the growth of the liquid formulations segment. Farmers have been using it for many years, as it is easy and safe to handle in comparison with dry formulation. With the increase in organic farming and increased acreages under precision irrigation technologies. They are adaptable to any type of sprayer, ranging from portable sprayers to hydraulic spraying machines. They are relatively easier to handle for treating large areas, which is the main reason for dominating the fertilizers market.

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Location: United States

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