The global fertilizers market is anticipated to grow at a significant CAGR of 3% during the forecast period. The major factor driving the growth of the global fertilizers market during the forecast period is the decreasing per capita arable land across the globe. According to the FAO ‘The Resource Outlook to 2050’, more than 1.50 billion hectares of the world’s land surface, or about 12% is used for crop production. Additionally, the per capita arable land area will decline to 0.18 ha by 2050 globally as compared to 0.15 ha in developing countries and 0.42 ha in developed countries.
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Furthermore, the major companies serving the global fertilizers market include The Mosaic Co., Yara International, Nutrien Ltd., K+S Group, and OCP Group, among others. The market players are considerably contributing to the market growth by the adoption of various strategies including mergers & acquisitions, partnerships, geographical expansion, and collaborations to stay competitive in the market. For instance, in August 2020, Yara East Africa introduced a micronutrient fertilizer, Yara Microp in Western Kenya. It is a blended product with nitrogen, phosphorus, ammoniacal nitrogen, sulfur, and zinc, which is used to improve maize crops to grow faster and produce higher yields.
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Market Coverage
- The market number available for – 2021-2028
- Base year- 2021
- Forecast period- 2022-2028
- Segment Covered-
o By Application
o By Type
- Regions Covered-
o North America
o Europe
o Asia-Pacific
o Rest of the World
- Competitive Landscape- The Mosaic Co., Yara International, Nutrien Ltd., K+S Group, and OCP Group, among others.
Key questions addressed by the report
- What is the market growth rate?
- Which segment and region dominate the market in the base year?
- Which segment and region will project the fastest growth in the market?
- How has COVID-19 impacted the market?
o Deviation from the pre-COVID-19 forecast
o Most affected region and segment
- Who is the leader in the market?
- How players are addressing challenges to sustain growth?
- Where is the investment opportunity?
Global Fertilizers Market Report by Segment
By Application
- Crop Based
- Non-Crop Based
- Others
By Type
- Nitrogen
- Phosphate
- Potash
