Russia Fertilizers Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

Russia Fertilizers Market - Size, Share, COVID-19 Impact & Forecasts up to 2028

The Russia Fertilizers Market is projected to register a CAGR of 4.08%

Key Highlights

• Fastest growing segment by Product - Manganese : Manganese availability in soil decreases with rising pH and is less mobile in the plants thus affecting the young parts of the plant which requires application of fertilizer.
• Largest Segment by Crop Type - Field Crops : The domination of field crops in Fertilizers market is mainly due to its large cultivation area in the country. They account for more than 95% of total crop area.
• Fastest growing by Speciality Type - SRF : Slow Release Fertilizers are affective in constant nutrient supply to plants.Single application can provide nutrition to the crop throughout the season based on climate.
• Largest segment by Application Mode - Soil : It is easy way of fertilizer application and can be applied without any equipment. This method of fertilizer application improves plant health as well as soil fertility.

Key Market TrendsField Crops is the largest segment by Crop Type.

• The field crops occupied a market share of 88.9% in 2021 and have grown by 36.5% during the study period. The area under cereals and pulses cultivation has increased by 0.7% and 13.46%, respectively, from 2016-2020.
• Conventional fertilizer accounted for 91.2% of the market for field crops in 2021. Cereals consume the maximum amount of nitrogen fertilizer. As grains and cereals are intensively grown, they deplete the nutrients in the soil, requiring more fertilizers to supplement them.
• The overall fertilizer consumption by horticultural crops accounted for 6.0% of the market in 2021 and grew by 42.49% during the study period. The country's area under fruit and vegetable cultivation has increased by 2.02% and 13.8% from 2016-2020. Therefore, an increase in the area cultivated is anticipated to drive the fertilizers market
• The country's overall turf & ornamental fertilizer market accounted for 5.0% of the market in 2021 and has increased by 33.47% during the study period. In recent years, the government has focused more on self-sufficiency and has developed various strategies, such as greenhouse ornamental flower production, which is anticipated to boost segmental growth.
• Hence, the increased demand for field crops, increased focus on self-sufficiency to reduce the import dependence for ornamentals, and the country being one of the major producers of fertilizers are all anticipated to boost the segmental growth during the forecast period.

Competitive Landscape

The Russia Fertilizers Market is fairly consolidated, with the top five companies occupying 75.44%. The major players in this market are EuroChem Group, ICL Group Ltd, PhosAgro Group of Companies, Trade Corporation International and Yara International ASA (sorted alphabetically).

Additional Benefits:

• The market estimate (ME) sheet in Excel format
• 3 months of analyst support

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