Compound Fertilizer Market Forecasts to 2028 – Global Analysis By Type (Three Element Compound Fertilizer, Two Element Compound Fertilizer), Application (Corn, Rice, Vegetable, Wheat, Fruit Tree, Tobacco, Other Applications) and Geography

Compound Fertilizer Market Forecasts to 2028 – Global Analysis By Type (Three Element Compound Fertilizer, Two Element Compound Fertilizer), Application (Corn, Rice, Vegetable, Wheat, Fruit Tree, Tobacco, Other Applications) and Geography

According to Stratistics MRC, the Global Compound Fertilizer Market is accounted for $211.95 billion in 2022 and is expected to reach $290.60 billion by 2028 growing at a CAGR of 5.4% during the forecast period. A compound fertiliser incorporates secondary nutrients including trace elements in addition to two or more essential plant nutrients. Both organic and inorganic compounds are possible.

Market Dynamics:

Driver:

Growing awareness

Market expansion is being aided by rapid urbanisation and a shift in consumer dietary habits. Further dampening market growth are rising technological developments in the agricultural industry and farmers' growing awareness of the advantages of employing compound fertilisers.

Restraint:

Inappropriate uses

The restricted usage of compound fertilisers in crop production is the main barrier to the market for compound fertilisers. However, improper usage of these compounds and inaccurate nutritional composition determination will be a difficulty in the compound fertilisers market throughout the projection period.

Opportunity:

Knowledge on agricultural profiles

Compound fertiliser demand is anticipated to rise as farmer awareness of soil profile and physiological balance rises, commercial agriculture becomes more and more popular throughout the world, low-cost fertiliser production increases, and agrochemical demand rises. The market's growth pace will also be slowed down by the need to boost productivity and close yield and fertiliser intensity discrepancies between nations.

Threat:

Uncontrolled Use of Compound Fertilizers that Leads to Pollution

As excessive usage of compound fertilisers’ results in pollution, their use should be optimised and regulated. However, using nitrogen-based compound fertilisers excessively can be harmful because they have hazardous effects on people, plants, animals, and water systems. High-nitrate diets have been associated with endogenous nitrozation, which has been connected to thyroid disease, a number of human cancers, anomalies of the neural tube, and diabetes. Additionally, it causes climate change, emits dangerous greenhouse gases like nitrous oxide, increases unpredictability, and the government has a consistent policy concentrate on the environment, all of which are predicted to restrain the growth of the compound fertilisers market over the course of the forecast period.

Covid-19 Impact

When growing vegetables, fruits, wine, and other crops that need intensive crop care, which including seed treatment, soil management, crop protection, and other services, compound fertiliser is frequently utilised. However, due to the pandemic, concerns including delayed crop care and pesticide product supply, trade and delivery issues, and numerous others are hindering production in these areas. The COVID-19 Pandemic has put the entire world on lockdown, causing restaurants including grocery stores to close and a drop in the demand for freshly produce goods that has an impact on growers and suppliers.

The Three-Element Compound Fertilizer segment is expected to be the largest during the forecast period

The Three-Element Compound Fertilizer segment is estimated to have a lucrative growth. The three elements nitrogen, phosphorus, and potassium are combined to form a three-element compound fertiliser. These kinds of substances, also referred to as NPK fertilisers, are added to soil to produce organic nutrients for plants. A three-element compound fertiliser has gained popularity because plants can more readily absorb it than when individual ingredients are added separately. This implies that you will require less moisture or other liquid when using this kind of product to prepare your soil and yet obtain reasonable results from the crops produced on top of them.

The Fruit Trees segment is expected to have the highest CAGR during the forecast period

The Fruit Trees segment is anticipated to witness the fastest CAGR growth during the forecast period. Fruit plants most frequently use compound fertilisers. They offer the essential minerals, like phosphate or nitrogen, to support plant growth and fruit production. Compounds also improve the soil's capacity to store water, making it more drought-resistant. Fruit tree cultivation requires the application of compound fertiliser more than other types of agriculture because fruit trees have low nutrient requirements and vast root systems that enable them less susceptible to interact with other products for nutrients in the soil.

Region with highest share:

Asia Pacific is projected to hold the largest market share during the forecast period owing to the increased need for agrochemicals, particularly in developing economies, to prevent and manage significant plant diseases and will do so over the projection period as well. The fast use of cutting-edge agricultural technologies to control crop diseases is having a positive impact on the Asia-Pacific area.

Region with highest CAGR:

Asia Pacific is projected to have the highest CAGR over the forecast period. Rice is a significant nitrogen-consuming crop in Asia. Growing worries about the region's current fertiliser usage patterns, heavy reliance on nitrogen fertilisers, subpar nutritional management, a dearth of additional inputs, deteriorating soil fertility, and inadequate distribution and marketing systems have all become significant roadblocks to increasing fertiliser efficiency. These worries are now being replaced by the growth and support of the regional fertiliser market provided by Biofertilizers and micronutrient fertilisers.

Key players in the market

Some of the key players profiled in the Compound Fertilizer Market include Stanley, Agrium, Yara, Mosaic, ICL, SABIC, K+S, Sumitomo Chemicals Co. Ltd., Compass Minerals, Nufarm, Bayer AG, BASF SE, Belamskali, Uralkali and Sinochem.

Key Developments:

In November 2017, Yara International has acquired Agronomic Technology Corp (ATC). The acquisition has expanded the product portfolio of Yara International as well as strengthened its global presence.

Type Covered:
• Three Element Compound Fertilizer
• Two Element Compound Fertilizer

Applications Covered:
• Corn
• Rice
• Vegetable
• Wheat
• Fruit Tree
• Tobacco
• 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 2020, 2021, 2022, 2025, and 2028
- 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