India Fertilizer Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

India Fertilizer Market, Size, Forecast 2024-2030, Industry Trends, Share, Growth, Insight, Impact of Inflation, Company Analysis

India Fertilizer Market is expected to be priced at around US$ 39.54 Billion by 2030, according to Renub Research. Fertilizers are critical in global agriculture, extensively augmenting crop yields and bolstering food security. India's transformation from a food-deficient nation to an international agricultural powerhouse owes plenty to chemical fertilizers, mainly because of the Green Revolution of the Nineteen Sixties. Fertilizers have been instrumental in this agricultural evolution by facilitating heightened productivity, keeping off soil degradation, and fulfilling the wishes of a burgeoning population. They continue to be critical for maintaining India's agricultural productivity and bolstering its financial balance, underscoring their importance in preserving food manufacturing levels and ensuring the nation's prosperity.

India fertilizer market is anticipated to develop at a CAGR of 5.22 percent from 2024 to 2030

The market experiences significant momentum driven by India's robust agricultural sector growth. With agriculture employing a massive part of the population and contributing drastically to the economy, the demand for agricultural inputs, such as fertilizers, sees a corresponding surge. Factors such as government initiatives, technological improvements, and increasing farm mechanization further propel this boom trajectory. They are expanding agricultural sports power fertilizer needs for fuel-related sectors, underlining agriculture's pivotal function in India's monetary landscape.

Moreover, technological advancements propel the India fertilizer market by enhancing efficiency and precision in agricultural practices. Innovations in fertilizers, which include controlled-release formulations and precision agriculture technologies, optimize nutrient delivery and utilization. Digital tools and records analytics help farmers make knowledgeable decisions and optimize fertilizer applications. These improvements improve crop yield and contribute to sustainable farming practices. As technology continues to conform, its integration into the fertilizer region is essential in modernizing and advancing India's agricultural panorama. So, the India Fertilizer Market was US$ 27.70 Billion in 2023.

Government projects and funding in research and improvement considerably propel the India fertilizers market. Schemes like the Pradhan Mantri Krishi Sinchayee Yojana (PMKSY) and Pradhan Mantri Kisan Urja Suraksha evam Utthaan Mahabhiyan (PM-KUSUM) drive fertilizer utilization and agricultural productiveness. Make in India encourages home manufacturing, lowering import dependency and boosting the fertilizer production zone. Concurrently, research and development duties cognizance of growing progressive fertilizers tailor-made to local soil and crop necessities, improving their efficacy and environmental sustainability. India's fertilizer industry fosters an enterprise boom, stimulates funding, and promotes technological innovation. This is positioning India as a critical player in the international fertilizers market while also helping to improve agricultural productivity and sustainability.

Urea fertilizers are expected to have the highest share in the Indian market

By fertilizers, the India fertilizer market and volume is fragmented into Urea, DAP, MOP, and Complex Fertilizers. Urea fertilizers are predicted to dominate the Indian market and volume share. This is because it is a primary nitrogen supply and is vital for enhancing crop yield, aligning with the country's predominantly nitrogen-poor soils. Government subsidies on urea make it cost-effective for farmers, expanding its sizeable usage. Also, the simplicity of application and standard compatibility with various plants contribute to its recognition. India's fertilizer market uses urea due to a focal point on food security and sustainable agriculture. It remains the most widely used and holds an adequate market and volume portion.

Cooperative sector is projected to lead the India fertilizer market

By sector, the India fertilizer market is divided into the Public Sector, the Cooperative Sector, and the Private Sector. The cooperative sector is poised to dominate the India fertilizers market in the forecast period. This is due to the fact they may be vital in distributing fertilizers to farmers, leveraging their extensive network and direct outreach to rural areas. With government support and subsidies, cooperatives provide fertilizers at subsidized charges, making them convenient for small and marginal farmers. Also, cooperative societies regularly prioritize farmer welfare and provide extension offerings, enhancing their credibility and reliability. The cooperative quarter is adequately placed to preserve a high proportion of the India fertilizer market.

Uttar Pradesh will lead the India fertilizer market growth

The India fertilizer market is categorized into twenty states, namely Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Haryana, Jammu and Kashmir, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Puducherry, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, and West Bengal. Uttar Pradesh is poised to be the fastest-growing state in the India fertilizers market. This is owed to its large agricultural land and big farming community.

Uttar Pradesh boasts a high demand for fertilizers to assist crop cultivation. The country authorities's consciousness of farm development and tasks to improve farmer welfare stimulate fertilizer input. Moreover, ongoing infrastructural improvements and increasing mechanization in farming practices propel the need for fertilizers. As Uttar Pradesh continues to prioritize agricultural increase and modernization, its improvement is expected to undergo speedy growth in the fertilizers market, outpacing exclusive areas in India.

Key Players

Companies are challenged with numerous techniques and tasks to stay assertive and cater to the evolving demands of the agriculture sector. They are broadening their product services by presenting a couple of fertilizers tailored to diverse crop kinds and soil conditions. This includes the development of specialized fertilizers, micronutrient-rich formulations, and natural/bio-fertilizers to meet the increasing want for sustainable and personalized agricultural solutions. The major businesses in the India fertilizer market are Nagarjuna Fertilizers and Chemicals Ltd, Chambal Fertilisers & Chemicals Ltd, Rashtriya Chemicals & Fertilizers Limited, National Fertilizers ltd, and Coromandel International Ltd.

In September 2023 - Coromandel International established an organic product called Cumist Calcium at Hotel Novotel in Vijayawada. The new product contains specialty nutrients that improve efficiency and soil health.

In August 2023 - The Chief Minister of Gujarat launched the IFFCO Nano Urea Spraying Scheme. He commended the farmers for being the first to use drones for spraying nano urea in the state. He encouraged them to make the most of this innovative drone technology scheme in agriculture, saving them time and energy. The technology is expected to support India's fertilizer market.

Renub Research report titled “India Fertilizer Market and Volume By Fertilizers (Urea, DAP, MOP, and Complex Fertilizers), Sector (Public Sector, Cooperative Sector, and Private Sector), States (Andhra Pradesh, Bihar, Chhattisgarh, Gujarat, Haryana, Jammu and Kashmir, Jharkhand, Karnataka, Kerala, Madhya Pradesh, Maharashtra, Odisha, Puducherry, Punjab, Rajasthan, Tamil Nadu, Telangana, Uttar Pradesh, Uttarakhand, and West Bengal), Company Analysis (Nagarjuna Fertilizers and Chemicals Ltd, Chambal Fertilisers and Chemicals Ltd, Rashtriya Chemicals and Fertilizers Limited, National Fertilizers ltd, and Coromandel International Ltd.)” provides a complete study of the India Fertilizer Industry.


Fertilizers – India Fertilizer Market and Volume breakup in 4 viewpoints:

1. Urea
2. DAP
3. MOP
4. Complex Fertilizers

Sector – India Fertilizer Market breakup in 3 viewpoints:

1. Public Sector
2. Cooperative Sector
3. Private Sector

State – India Fertilizer Market breakup in 20 viewpoints:

1. Andhra Pradesh
2. Bihar
3. Chhattisgarh
4. Gujarat
5. Haryana
6. Jammu and Kashmir
7. Jharkhand
8. Karnataka
9. Kerala
10. Madhya Pradesh
11. Maharashtra
12. Odisha
13. Puducherry
14. Punjab
15. Rajasthan
16. Tamil Nadu
17. Telangana
18. Uttar Pradesh
19. Uttarakhand
20. West Bengal

All the Key players have been covered from 3 Viewpoints:

• Overview
• Recent Development
• Revenue Analysis

Company Analysis:

1. Nagarjuna Fertilizers and Chemicals Ltd.
2. Chambal Fertilisers &Chemicals Ltd.
3. Rashtriya Chemicals & Fertilizers Limited
4. National Fertilizers Ltd.
5. Coromandel International Ltd.