Fertilizer Market (By Form: Dry, Liquid; By Application: Agriculture, Horticulture, Gardening; By Product: Organic, Inorganic) - Global Industry Analysis, Size, Share, Growth, Trends, Regional Outlook, and Forecast 2022-2030

The global fertilizer market size was valued at US$ 201.1 billion in 2021 and is expected to hit US$ 271.6 billion by 2030 with a CAGR of 3.4% from 2022 to 2030.

Key Takeaways:

• The Asia-Pacific fertilizer market was valued at US$ 99.45 billion in 2021 and is expected to grow at a CAGR of 3.86% from 2022 to 2030.
• The agriculture segment was estimated at US$ 83.78 billion in 2021 and projected to reach US$ 110.01 billion by 2030.
• The dry fertilizer segment was estimated at US$ 152.31 billion in 2021 and to reach around US$ 201.41 billion by 2030, growing at a CAGR of 3.45%.
• In 2021, the global inorganic fertilizer market was accounted at US$ 171.87 billion in 2021 and is expected to hit US$ 229.75 billion by 2030.
• Latin America fertilizer market will reach 3.2% CAGR from 2022 to 2030
• Gardening segment is predicted to reach at USD 16.1 billion by 2030.
• By form, the dry fertilizer segment has garnered 82.5% market share in 2021. 
• By application, the agriculture segment accounted largest market share 45.2% in 2021.
• By product, the organic segment accounted markets share of around 92.7% in 2021.

Growth Factors

The growing population is emphasizing the expansion of agriculture sector. As per the United Nations, the worldwide population will surpass nine billion people by 2050. In addition, as per the Food and Agriculture Organization, more than 70% of the global population will live in cities by 2050. The farmers are being forced to use fertilizers to enhance their agricultural output due to loss of arable land across the globe. As a result, the growing population is expanding the global fertilizer market over the forecast period. 

As the need for smart agriculture grows, different governments in emerging and established nations have taken steps to encourage farmers to convert their land to organic. For example, the European government has set aside 30% of its CAP policy’s rural development budget to assist organic farming. The governmental activities that is likely to benefit the sales of organic fertilizers in the coming years to come include market findings, capacity growth, targeted subsidies, and research assistance for organic farming. Thus, the surge in demand for organic fertilizers is contributing towards the growth of global fertilizer market. 

The growth of global fertilizer market is also being driven by the expansion of various industries such as agriculture and horticulture. The government all around the world is highly investing for the development of global fertilizer market. The global fertilizer market is diversified with several fertilizer producers around the world. As fertilizers are such as crucial element for increasing crop yields, the key market players are forming strategic alliances and strategies such as partnership, product launch, joint venture, and collaboration to expand their regional presence and product portfolio. In addition, government is also collaborating with market players for expansion of the market all over the world. 

Report Scope of the Fertilizer Market 

Form Insights

The dry fertilizer segment accounted largest market share in 2021. The most significant benefit of a dry fertilizer is that it slowly absorbs in the soil. As it lasts longer than any other fertilizer, it is commonly utilized in big fields. Furthermore, employing a dry fertilizer rather than a liquid fertilizer, which can progressively burn plants, has a considerably lower danger of injuring plants and crops. 

The liquid fertilizer segment is fastest growing segment of the fertilizer market in 2021. The surge in demand for high efficiency fertilizers, the convenience of use and administration of liquid fertilizers, and the acceptance of precision agriculture and irrigated agriculture are some of the drivers expected to propel the growth of the segment. 

Product Insights

The organic segment garnered largest revenue share in 2021. The organic fertilizers are mineral sources that are found in nature and include a moderate amount of plant needed nutrients. They are capable of resolving issues caused by synthetic fertilizers. They lessen the need for synthetic fertilizer applications to maintain soil fertility. They slowly release nutrients into the soil solution while maintaining nutritional balance for plant and crop growth.  

The inorganic segment is fastest growing segment of the fertilizer market in 2021. The minerals and synthetic chemicals are used to make inorganic fertilizer. The petroleum is a popular source of inorganic nitrogen. Inorganic fertilizers are high in macronutrients such as potassium chloride, ammonium sulphate, and magnesium sulphate. Because the phosphorus, potassium, and nitrogen mix can provide quick treatment, some gardeners find inorganic fertilizer useful for rescuing starved plants. 

Application Insights

The agriculture segment held highest revenue share in 2021. The three essential plant nutrients, potassium, nitrogen, and phosphorus are found in most fertilizers used in agriculture. The certain micronutrients such as zinc are also present in some fertilizers and are required for plant growth. Natural fertilizers are materials that are put to the ground with the goal of improving soil properties. 

The horticulture segment is fastest growing segment of the fertilizer market in 2020. The fertilizers used for horticulture are very essential for the growth of plants. They provide large number of nutrients to the crops and results into rapid growth of plants. As a result, the growing importance of using fertilizers is driving the growth of the segment during the forecast period. 

Region Insights

Asia-Pacific dominated the fertilizer market in 2021. The Asia-Pacific region is considered as largest region in terms of rice production. The rice requires nitrogen while cultivation process. The rice production represented for 36% of total fertilizer consumption in Asia in 2017. In 2020, India has projected to export rice worth around US$ 4 billion. Oil palm fertilizer accounted 17% of overall fertilizer consumption and 50% of potash usage.

Middle East & Africa Fertilizer market is expected to grow at a CAGR of 3.5% from 2022 to 2030.  Europe, on the other hand, is expected to develop at the fastest rate during the forecast period. The UK dominates the fertilizer market in Europe region. The growth of fertilizer market in Europe region is being driven by the surge in demand for organic products. In addition, rising disposable income are also driving the growth of Europe fertilizer market. Moreover, the technological advancements is creating demand for fertilizer in Europe region. 

Key Developments

• Haifa Group added an extra 8,000 MTPA production capacity to its Controlled Release Fertilizer facility in France in 2019. The corporation was able to boost its production capacity by up to 24,000 MTPA due to this method. 
• Yara purchased Finish colan in September 2021 to grow its organic fertilizer business, demonstrating the company’s commitment to a larger position in the organic fertilizer industry. 
• Vale CubataoFertilizantes Complex in Brazil was purchased for $255 million by Yara International ASA in 2018. The firm was able to improve its nitrogen production assets as well as its market position in the Brazilian fertilizer industry due to these tactics. 
• Nutrien Ltd. purchased Ruralco Holdings Ltd. in Australia in September 2019. Nutrien would be able to provide considerable advantages to its stakeholders as well as improve the delivery of its services and products to Australian farmers as a result of this transaction. 
• The Mosaic Company introduced the first DAP fertilizer in Saudi Arabia in 2017, through a joint venture. It supplied a fresh source of phosphate rock, allowing it to gain access to expanding agricultural markets, particularly in India. 
• Yaralix, a smart agriculture technology released by Yara International ASA in March 2019, allows farmers to measure crop nitrogen needs using their cellphones. The technology comprised of a free to download app that used the smartphone camera to calculate nitrogen requirements for various crops in their early stages of development. 

Some of the prominent players

• Haifa Group
• Nutrien Ltd.
• Yara International ASA
• CF Industries Holdings Inc.
• Syngenta AG
• Bunge Limited
• Israel Chemicals Ltd.
• Indian Farmers Fertilizer Cooperative Limited
• Sumitomo Chemical Co. Ltd
• Gemlik Fertilizer Inc. 

Segments Covered in the Report

(Note*: We offer report based on sub segments as well. Kindly, let us know if you are interested)

By Form

• Dry
• Liquid

By Application

• Agriculture
• Grains and Cereals
• Oilseeds
• Fruits and Vegetables
• Others
• Horticulture
• Gardening

By Product

• Organic
• Plant-based fertilizers
• Animal-based fertilizers
• Mineral-based fertilizers
• Inorganic
• Nitrogen
• Urea
• Anhydrous ammonia
• Ammonium nitrate
• UAN solutions
• Ammonium sulfate
• Phosphorus
• Diammonium phosphate
• Monoammonium phosphate
• Triple superphosphate
• Ordinary superphosphate
• Ammonium polyphosphate
• Others
• Potassium
• Potassium chloride
• Potassium sulfate
• Potassium nitrate

By Geography

• North America
• U.S.
• Canada
• Europe
• U.K.
• Germany
• France
• Asia-Pacific
• China
• India
• Japan
• South Korea
• Malaysia
• Philippines
• Latin America
• Brazil
• Rest of Latin America
• Middle East & Africa (MEA)
• GCC
• North Africa
• South Africa
• Rest of the Middle East & Africa