Global Fertilizer Mixtures Market - 2022-2029

Global Fertilizer Mixtures Market - 2022-2029

Market Overview

Fertilizer mixtures are basically the physical mixtures of straight fertilizers. Fertilizer mixtures contain two or three primary plant nutrients and are made by thoroughly mixing the ingredients either mechanically or manually.

In addition, there are two types of fertilizer mixtures, that are open formula fertilizer mixtures and closed formula fertilizer mixtures. In closed formula fertilizer mixtures, the ingredients of straight fertilizers are utilized in mixtures are not disclosed by the manufacturers. Wherein, in open formula fertilizer mixtures, the formulae of fertilizer mixture, in terms of kinds and quality of the ingredients mixed are disclosed by the manufacturers.

Thus, different materials are ideally used for the production of fertilizer mixtures. Moreover, according to the principle function in the fertilizer mixture, the materials can be classified either as suppliers of plant materials, conditioners, neutralizers of residual acidity, filler and secondary and micronutrients. Hence, owing to the increased demand and growing use of fertilizer mixtures in agriculture industry is propelling the market growth.

The global fertilizer mixtures market was valued at USD YY million in 2021. It is forecasted to reach USD YY million by 2029, growing at a CAGR of 9.23% during the forecast period (2022-2029).

Market Dynamics: Increased awareness about the benefits of fertilizer mixtures among the farmers and consistently rising population across the world

The growing awareness about the benefits of fertilizer mixture in improving soil quality crop protection has led to increase in its consumption. Plants contain 90 or more elements, out of which only 16 are currently known to be essential for crops. The elements essential for plant growth are carbon, hydrogen, oxygen, phosphorus, potassium, nitrogen, sulphur, calcium, iron, magnesium, boron, manganese, copper, zinc, molybdenum and chlorine. On practical point of view, generally application of nitrogenous, phosphatic and potassic fertilizer mixtures are considered as balanced fertilization.

In addition, the balanced application of fertilizer mixtures enhances the efficiency of nutrients. For example, the efficiency of a nutrient like nitrogen is greatly enhanced when it is used in conjunction with phosphorus. For instance, when a dose of 30 kg of nitrogen was applied in the field, only 14 to 30% of nitrogen is utilized by the crops. However, when 3 kg of nitrogen, applied along with 30 kg of phosphoric acid, the recovery of added nitrogen varied from 23 to 50%. This clearly shows that the phosphoric acid contributed to the better utilization of the nitrogen. Just as phosphoric acid helps in the better utilization of nitrogen, potash also helps in the better assimilation of nitrogen and phosphoric acid.

Furthermore, the farmers are supplied with a balanced fertilizer mixture that is adopted for each soil and each crop. Time and labour costs are saved since all of the fertilizer materials are applied at one time. Along with this, fertilizer mixtures can be prepared in a manner to correct residual acidity of certain nitrogen fertilizers and also helps in balanced form help in maintaining good physical condition of soil. In addition to this, one nutrient increases the availability of other nutrient and thus, balance fertilizers which are fertilizer mixtures provide the tolerance against drought, cold, pests and diseases.

Moreover, the rapid increase in the food processing & food service sectors is also enabling the manufacturers to use fertilizer mixtures in the farming process to increase the productivity of the crops. Thus, the increased demand and awareness about the benefits of fertilizer mixtures is driving the growth of the market. Thus, the increased awareness about the benefits and nutritional value of fertilizer mixtures ultimately has increased the demand for it. Hence, farmers are also incorporating fertilizer mixtures into farming which increases its consumption and drives the market growth.

Market Segmentation: Soil quality stand for the highest share in global fertilizer mixtures market

In 2021, the soil quality segment had the highest revenue share of YY percent. Soil quality is recovered only by increasing the consumption of fertilizer mixtures. In addition, the ability of fertilizer mixtures to provide all the necessary nutrients is the most important factor contributing to the growth in the demand for fertilizer mixtures. This factor plays a vital role in increasing the agricultural productivity and thus drives growth for fertilizer mixtures market over the years.

Furthermore, change in eating habits across emerging economies such as North America, Asia and others and the rising consumption of fertilizer mixtures and this growth is anticipated to continue in the next seven years. For instance, the mixture of nitrates and phosphates is responsible for increasing crop yield and enhance overall agricultural productivity along with protecting crops from harmful pathogens, as it improves the soil quality which helps in the crop yield.

Geographical Penetration: North America is the dominating region during the forecast period

In 2021, North America had the highest revenue share of YY percent. The region has well-developed food, industrial and agricultural sectors which increases the demand for fertilizer mixtures and adds to the growth of the market. The consumption of agricultural food in North America has increased the consumption, demand and use of fertilizer mixture over the past few years and the patterns of consumption are expected to continue over the next seven years resulting in significant fertilizer mixtures market growth in the region. For instance, in 2020, fertilizer consumption for the United States of America was 126.2 kilograms per hectare. Though United States of America fertilizer consumption fluctuated substantially in recent years, still tended to increase over the years.

Competitive Landscape:

The global fertilizer mixtures market is competitive and comprises players such as Henan Xinlianxin Fertilizer Co. Ltd, DAYAL GROUP, Agrichem do Brasil S.A, Sumitomo Chemical, H.J. Baker & Bro., Inc., Beijing Xinhefeng Agrochemical Co. Ltd, The Mosaic Company, Compass Minerals, Coromandel International Limited and Bayer CropScience AG among others. The fertilizer mixtures market competitiveness is estimated to increase over the forecast period as the key players focus on various strategies such as agreements and product innovation for various applications. The increase in demand for fertilizers mixtures owing to increase in demand for high yield crops across the regions enables manufacturers to launch new products in the market. In addition, manufacturers are also applying strategies such as collaborations, acquisitions, and others to increase the revenue of the company.

For instance,
• In February 2019, Bayer acquired agriculture sector and the group sales and earnings increased in 2018. In addition, adjusted for currency and portfolio effects (Fx & portfolio adj.), the Crop Science and Pharmaceuticals divisions registered higher sales year on year.

COVID-19 Impact: Negative impact on global fertilizers mixtures market

The COVID-19 pandemic has adversely affected the economies of various countries due to lockdowns, business close, and travel bans. Agriculture is among the major industries suffered from intense disruptions such as restrictions on the supply chain and the shutdown of warehouse plants.

In addition, the shutdown of the companies, factories production facilities in almost every country have disrupted the whole supply chains. It has negatively impacted manufacturing activities, delivery schedules, and various goods sales. Multiple companies have already announced possible delays in product deliveries and a decline in future sales of their products.

Furthermore, the restrictions on production and cultivation crops owing increased cases of infected people. These restrictions led to less production and cultivation which ultimately decreased the demand of fertilizer mixtures that impacted the market negatively.

The global fertilizer mixtures market report would provide an access to approximately 53 market data tables, 40 figures and 172 pages.