Fertilizer Market Size, By Form (Dry, Liquid), By Product (Organic, Inorganic), By Application (Agriculture, Horticulture, Gardening), Industry Analysis Report, Regional Outlook, Growth Potential, Covid-19 Impact Analysis, Competitive Landscape & Forecast

Fertilizer Market Size, By Form (Dry, Liquid), By Product (Organic, Inorganic), By Application (Agriculture, Horticulture, Gardening), Industry Analysis Report, Regional Outlook, Growth Potential, Covid-19 Impact Analysis, Competitive Landscape & Forecast, 2022 - 2030

The global fertilizer market share is slated to expand significantly over the course of 2022-2030 on accounts of the growing population and subsequent demand for food across the world. According to estimations put forth by FAO, the world’s food demand is projected to increase by as much as 70% by 2050. Much of the speculated surge is anticipated to come from the increasing consumer incomes in regions like Latin America, Europe, and Asia.

The rising demand for organic and bio-fertilizers is expected to bolster the market progression further. Different countries are now adopting the use of these fertilizers and are subsequently taking up initiatives to build organic as well as bio-fertilizer facilities to augment the chemical production.

For instance, Bhutan, in 2021, announced the opening of its first bio-fertilizer company in Wangdue, in partnership with B&B Korea and Farm Machinery Corporation Limited.

The fertilizer industry report is segmented in terms of form, product, application, and regional landscape.

With regards to the product, the market is categorized into organic and inorganic fertilizers. Of these, the organic fertilizer segment is touted to grow at a CAGR of 6% through the forecast timeframe. The growth can be ascribed to the product’s ability to enhance soil properties like structure, water holding capacity, and cation exchange capacity.

Based on the application, fertilizer industry is divided in terms of agriculture, gardening, horticulture, and others. The others segment would accrue appreciable proceeds over the forthcoming years owing to an upsurge in demand for these compounds across nurseries and golf courses. Industry analysis expects the segment to depict a growth rate of 2% over the foreseeable time frame.

From the regional viewpoint, Europe fertilizer market is predicted to amass considerable gains in the overall industry outlook through 2030. As per the report, the regional market would expand at a CAGR of 2% over the analysis period. Some of the prominent factors influencing the segmental growth are rising adoption of organic fertilizers and increasing inclination toward organic farming.

Meanwhile, the North America would emerge as a regional hotspot for fertilizer industry in the near future. The growth in the market would come from the elevating food demand and expanding regional population across economies like the United States, Canada, and others.

The fertilizer market is highly concentrated, with GÜBRETA Fabrikalari TAS, CF Industries Holdings, Inc., Yara International ASA, Sumitomo Chemical Co., Ltd., Indian Farmers Fertiliser Cooperative Limited (IFFCO), Gemlik Fertilizer, Syngenta AG, and Bunge Limited, being amongst the prominent companies operating in the industry space.