Aquaculture Fertilizer Market Forecasts to 2030 – Global Analysis By Type (Single Super Phosphate, Di-ammonium Phosphate (DAP), Triple Super Phosphate (TSP), Potassium Chloride, Urea, Specialty Fertilizers and Other Types), Application and By Geography

Aquaculture Fertilizer Market Forecasts to 2030 – Global Analysis By Type (Single Super Phosphate, Di-ammonium Phosphate (DAP), Triple Super Phosphate (TSP), Potassium Chloride, Urea, Specialty Fertilizers and Other Types), Application and By GeographyAccording to Stratistics MRC, the Global Aquaculture Fertilizer Market is accounted for $22.09 million in 2023 and is expected to reach $40.91 million by 2030 growing at a CAGR of 9.2% during the forecast period. Aquaculture fertilizers, which also provide essential nutrients for aquatic animals raised in aquaculture, are specifically designed to promote the growth of algae, plankton, and other natural food sources. These fertilizers also enhance the health of the water, encourage development, and shield against sickness. Together with the other essential elements, phosphorus and potassium, it provides a supply of nitrogen that does not burn. Aquaculture fertilizers enhance the quantity of nutritional material in the pond and degrade extremely slowly over a longer period of time, making the pond productive.

According to the United Nations Conference on Trade and Development (UNCTAD) report, Food and Agriculture Organization of the United Nations (FAO) has delivered 36,000 tonnes of Triple Super Phosphate fertilizer to the Ministry of Agriculture for immediate distribution to all farmers throughout the Sri Lanka through funding from the United States Agency for International Development.

Market Dynamics:

Driver:

Increasing demand for fish

One of the most traded meals in the world is fish. Over the past 50 years, there has been a steady rise in global fish consumption. This rise in consumption has been influenced by the rising standards of life in developing nations like China and the increased health consciousness in certain affluent nations. Additionally, it is predicted that rising income levels would fuel the expansion of the aquaculture fertilizer industry and result in a quicker rise in fish consumption.

Restraint:

Strict regulations

Aquaculture fertilizers produce hazardous waste. So, EPA has established limitations for the concentrations of heavy metals and other potentially toxic substances that may be included in fertilizer products. The rules regarding the use of hazardous waste in fertilizers in the US may be harsher than the Federal standards. The market's expansion is being hampered by this factor.

Opportunity:

Rise in the government initiatives

Aquaculture is a growing industry in several parts of the world. It aids in food production and the restoration of endangered species because of its numerous applications. Additionally, it has gained popularity as a protein-rich dietary source, providing a number of advantages for developing health issues including excessive cholesterol. For the development of fisheries, the Department of Fisheries, Ministry of Fisheries, Animal Husbandry, and Dairy are implementing several schemes. These initiatives increased aquaculture productivity, which in turn fuelled the expansion of the aquaculture fertilizer industry.

Threat:

Fluctuating fertilizer prices

Fixing profit margins has proven difficult for businesses due to fluctuating fertilizer prices. Typically, a number of factors, such as international markets, energy prices, location, and logistics, influence both the supply and the price of fertilizers. Since fertilizers are often hefty, firms may incur large costs due to logistics. Additionally, the capacity to move products on time is significantly impacted by the availability of trucks and shipping containers, particularly in emerging nations. This factor is hindering the market growth.

Covid-19 Impact

The pandemic's supply chain interruptions have had a detrimental impact on the aquaculture fertilizer market. Lockdown standards were implemented in response to the increasing number of COVID-19 patients, which stopped industrial operations. The scarcity of raw supplies was caused by the limitations placed on travel. Manufacturers were able to restore output and make up losses because to lockdown relaxations, though. It enabled them to balance expenses while meeting consumer demand.

The urea segment is expected to be the largest during the forecast period

The urea segment is estimated to have a lucrative growth. For aquaculture applications, urea is the most often utilized fertilizer. This nutrient passes right through the fish. Urea is an organic molecule that hydrolyzes in water to produce ammonia, nitrogen, and carbon dioxide. Aquatic life is known to flourish more quickly when urea is used in aquaculture. In this regard, more aquatic life may be generated on relatively less area by fewer people within a relatively short period of time, satisfying the demands of a large population. These reasons collectively fuel the urea segment's expansion.

The onshore aquaculture segment is expected to have the highest CAGR during the forecast period

The onshore aquaculture segment is anticipated to witness the fastest CAGR growth during the forecast period. Onshore aquaculture is a process in which aquaculture is carried out in entirely man-made facilities constructed on land. Additionally, onshore fish farms can be situated near to important markets, which significantly lower the price of delivering fresh fish to consumers, often by air freight. Additionally, they cultivate nutrient-dense microalgae in onshore aquaculture systems, which might contribute to a rise in food output of over 50%. These factors are accelerating the segment's growth.

Region with largest share:

Asia Pacific is projected to hold the largest market share during the forecast period. China is the most prominent market within Asia Pacific. Freshwater aquaculture is what categorizes fish farming enterprises in China. In the majority of the nation's inland water bodies, Chinese carps continue to be raised as the main species. But in recent years, the Chinese government has also concentrated on employing water storage reservoirs for aquaculture based on culture. Additionally boosting demand is India's growing interest in freshwater prawn farming. Companies that produce fertilizer will probably focus on these nations in the near future in order to expand regionally.

Region with highest CAGR:

North America is projected to have the highest CAGR over the forecast period, owing to the growing demand for aquaculture products. The market in this domain is growing as sustainable aquaculture methods receive more attention. Canada exports a significant amount of fish and seafood. Additionally, the region's need for aquaculture fertilizer is being boosted by the existence of a well-established agriculture and aquaculture business as well as rising investment. The popularity of significant market participants like FMC Corporation, Yara International ASA, Mosaic Company, and others also contribute to the expansion of aquaculture fertilizer in this region.

Key players in the market

Some of the key players profiled in the Aquaculture Fertilizer Market include The Mosaic Company, Yara International ASA, URALCHEM JSC, Nutrien Ltd., Sinofert Holdings Limited, Koch Industries, Inc., Agrimin Limited, ICL Group Ltd., OCP S.A., Luxi Chemical Group Co. Ltd., Gavilon Fertilizer LLC and Saudi Basic Industries Corporation.

Key Developments:

In May 2023, The Mosaic Company announced that it has closed on a new $700 million 10-year term loan facility through the Farm Credit System. Uniquely available to agribusiness participants, this facility provides attractive terms that include a delayed draw option and prepayment with no penalty.

In May 2023, Yara International announced that it will build a new global production plant for specialty crop nutrition products and biostimulants designed to increase yields and improve quality.

In April 2022, Agrimin signed a legally binding offtake agreement with Gavilon Fertiliser, LLC, for the supply of 50 000 tpy of sulfate of potash (SOP) generated from the Mackay Potash Project for sale and distribution in the US.

Types Covered:
• Single Super Phosphate
• Di-ammonium Phosphate (DAP)
• Triple Super Phosphate (TSP)
• Potassium Chloride
• Urea
• Specialty Fertilizers
• Other Types

Applications Covered:
• Seawater Aquaculture
• Onshore Aquaculture
• Ponds Filled With Seawater
• Groundwater
• Other Applications

Regions Covered:
• North America
US
Canada
Mexico
• Europe
Germany
UK
Italy
France
Spain
Rest of Europe
• Asia Pacific
Japan
China
India
Australia
New Zealand
South Korea
Rest of Asia Pacific
• South America
Argentina
Brazil
Chile
Rest of South America
• Middle East & Africa
Saudi Arabia
UAE
Qatar
South Africa
Rest of Middle East & Africa

What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2021, 2022, 2023, 2026, and 2030
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements