Global Fertilizer Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Global Fertilizer Market Research Report 2023-Competitive Analysis, Status and Outlook by Type, Downstream Industry, and Geography, Forecast to 2029

Fertilizer refers to a class of substances that provide one or more essential nutrients for plants, improve soil properties and improve soil fertility, and is one of the material bases for agricultural production. Fertilizer is usually applied directly to the soil, or sprayed on the leaves.

Market Overview:

The latest research study on the global Fertilizer market finds that the global Fertilizer market reached a value of USD 85693.83 million in 2022. It’s expected that the market will achieve USD 71912.05 million by 2028, exhibiting a CAGR of -2.88% during the forecast period.

The outbreak has had a complex impact on the Fertilizer industry. First of all, for the Fertilizer industry, the epidemic has had an impact on the production plans of companies in the Fertilizer industry. Due to the outbreak of COVID-19, the production and operations of raw materials have been affected, such as the production of natural gas, coal, potash mines is limited. This could lead to disruptions in the supply of raw materials to the Fertilizer industry, thereby affecting the company's production schedule. On the other hand, due to the impact of the new crown pneumonia epidemic, in order to prevent the further spread of the epidemic, the government issued travel restrictions and related isolation policies, which reduced the management efficiency of enterprises in the industry and also affected the company's production plan. From the perspective of downstream applications, due to the impact of the epidemic, many countries have imposed controls on domestic transportation and personnel movement, and imposed restrictions on import and export commodities. This resulted in Fertilizer experiencing varying degrees of logistical disruption, inventory and shipping delays during the sale. Due to the lockdown, farmers are facing difficulties in transporting their goods. In addition, due to the impact of the epidemic, the production and operation of the farm has also been affected to a certain extent, reducing the demand for Fertilizer.

Growing demand for water-soluble fertilizers

Water-soluble fertilizer is a kind of multi-component compound fertilizer that can be completely dissolved in water. It can be quickly dissolved in water and is more easily absorbed by crops, and its absorption and utilization rate is relatively high. More importantly, it can be used in sprinkler and drip irrigation. and other facilities agriculture, realize the integration of water and fertilizer, and achieve the efficiency of saving water, fertilizer and labor. For example, in China, cash crops have become the focus of China's fertilizer consumption. Vegetables, fruits and other economic crops will gradually adopt micro-irrigation and water and fertilizer integration technology. This means that a large amount of the total amount of fertilizer used will now be applied through the micro-irrigation system. Therefore, fertilizers with good water solubility, scientific formula and moderate price will be in increasing demand with the large-scale application and promotion of micro-irrigation and water-fertilizer integration technology. Hence, the increasing demand for water soluble fertilizers will drive the Fertilizer industry.

Intense competition in the industry

Fertilizer industry, with the development of the market scale of the Fertilizer industry, the market demand continues to expand, the industry development is relatively complete, the market price transparency is high, the corporate profits are low, and the products are easy to be imitated. At present, the homogenization of Fertilizer products is relatively serious. In this case, the company's products and services can be replaced by other similar companies' products. In this case, the main purchase basis for customers is price. Fertilizer industry companies mainly use price and discount as a means of differentiation. Product homogeneity has caused a certain degree of restriction to the development of the Fertilizer industry.

Region Overview:

In 2022, the share of the Fertilizer market in China stood at 23.66%.

Company Overview:

Nutrien is one of the major players operating in the Fertilizer market, holding a share of 17.42% in 2022.

Nutrien

Nutrien is a Canadian fertilizer company based in Saskatoon, Saskatchewan. As the largest producer of potash fertilizers by capacity and one of the world's largest producers of nitrogen and phosphates, Nutrien provides growers with the three key nutrients they need to produce healthier, more abundant crops.

Yara International

Yara International is a Norwegian chemical company. Its largest business area is nitrogen fertilizer production, but also includes the production of nitrates, ammonia, urea and other nitrogen-based chemicals

Segmentation Overview:

By type, Nitrogenous Fertilizers segment accounted for the largest share of market in 2021.

Nitrogenous Fertilizers

Differentiate according to the elements contained in the Fertilizer. Refers to fertilizers that contain nitrogen. Generally, it includes urea, ammonium nitrate, etc.

Phosphatic Fertilizers

Differentiate according to the elements contained in the Fertilizer. Refers to fertilizers containing potassium. Generally include potassium sulfate, potassium nitrate and so on.

Potash Fertilizers

Differentiate according to the elements contained in the fertilizer. Refers to fertilizers that contain phosphorus. Including monoammonium phosphate, diammonium phosphate, etc.

Application Overview:

By application, the Grains and Cereals segment occupied the biggest share from 2017 to 2022.

Grains and Cereals

Refers to fertilizers suitable for various grains. Grains and Cereals include rice, wheat, corn, millet and other plants.

Pulses and Oil Seeds

Refers to fertilizers suitable for various legumes and oil plants. Pulses and Oil Seeds mainly refer to soybeans, rapeseed, cotton and peanuts.

Fruits and Vegetables

Refers to fertilizers suitable for various vegetables and fruits. For example, cabbage, strawberries, etc.

Key Companies in the global Fertilizer market covered in Chapter 3:

Haifa Group
OCP Group
K+S
EuroChem
Nutrien
The Mosaic Company
CF Industries
ICL Group
Uralkali
OCI N.V.
PhosAgro
Yara International

In Chapter 4 and Chapter 14.2, on the basis of types, the Fertilizer market from 2018 to 2029 is primarily split into:

Nitrogenous Fertilizers
Phosphatic Fertilizers
Potash Fertilizers
Others

In Chapter 5 and Chapter 14.3, on the basis of Downstream Industry, the Fertilizer market from 2018 to 2029 covers:

Grains and Cereals
Pulses and Oil Seeds
Fruits and Vegetables
Others

Geographically, the detailed analysis of consumption, revenue, market share and growth rate, historic and forecast (2018-2029) of the following regions are covered in Chapter 8 to Chapter 14:

North America (United States, Canada)
Europe (Germany, UK, France, Italy, Spain, Russia, Netherlands, Turkey, Switzerland, Sweden)
Asia Pacific (China, Japan, South Korea, Australia, India, Indonesia, Philippines, Malaysia)
Latin America (Brazil, Mexico, Argentina)
Middle East & Africa (Saudi Arabia, UAE, Egypt, South Africa)