MARKET OVERVIEW
Fertilizers are added to soil to provide plants with essential nutrients. These can come in different forms, organic such as compost and manure, or synthetic, made from chemical compounds. Organic fertilizers are sourced from natural materials and can be costly but are considered more environmentally friendly. Synthetic fertilizers, on the other hand, are relatively cheaper but are chemical based. They are widely utilized by farmers and agricultural producers to enhance crop yields and improve the overall health of plants. The market for fertilizers is driven by the increasing global population, the need for food security, and advancements in crop science and technology. The market is expected to continue growing in the coming years, with an increasing demand for fertilizers in developing countries and a growing interest in sustainable and organic farming practices.
MARKET SCOPE
The "Global Fertilizers Market Analysis to 2028" is a specialized and in-depth study of the chemicals & materials industry with a special focus on the global market trend analysis. The report aims to provide an overview of the fertilizers market with detailed market segmentation by type, form, application, and geography. The report provides key statistics on the market status of the leading fertilizers market players and offers key trends and opportunities in the market.
MARKET SEGMENTATION
- Based on type, the market is segmented into organic and inorganic.
- Based on form, the market is segmented into liquid, powder, and granular.
- Based on application, the market is segmented into agriculture, horticulture, gardening, and others.
MARKET DYNAMICS
Drivers:
- Rising demand for fertilizers from the agricultural sector owing to boost the crop yield and provide better nutrients to the crops is the factor primarily driving the market growth.
- Moreover, the growing adoption of fertilizers across the home gardens segment is also propelling market growth.
- Additionally, rising awareness about crop nutrition amongst farmers across the globe is expected to further drive market growth over the upcoming years.
Restraints
- However, reducing soil fertility due to the excessive usage of fertilizers may hinder market growth.
REGIONAL FRAMEWORK
The report provides a detailed overview of the industry including both qualitative and quantitative information. It provides an overview and forecast of the global market based on various segments. It also provides market size and forecast estimates from the year 2019 to 2028 with respect to five major regions, namely, North America, Europe, Asia-Pacific (APAC), the Middle East and Africa (MEA), and South America. The fertilizers market by each region is later sub-segmented by respective countries and segments. The report covers the analysis and forecast of 18 countries globally along with the current trend and opportunities prevailing in the region.
The report analyzes factors affecting the market from both the demand and supply side and further evaluates market dynamics affecting the market during the forecast period i.e., drivers, restraints, opportunities, and future trends. The report also provides an exhaustive PEST analysis for all five regions namely, North America, Europe, APAC, MEA, and South America after evaluating political, economic, social and technological factors affecting the fertilizers market in these regions.
IMPACT OF COVID-19 ON THE FERTILIZERS MARKET
COVID-19 first began in Wuhan (China) in December 2019 and since then it has spread at a fast pace across the globe. The US, India, Brazil, Russia, France, the UK, Turkey, Italy, and Spain are some of the worst affected countries in terms of confirmed cases and reported deaths. COVID-19 has been affecting economies and industries in various countries due to lockdowns, travel bans, and business shutdowns. The shutdown of various plants and factories has affected the global supply chains and negatively impacted the manufacturing, delivery schedules, and sales of products in the global market. A few companies have already announced possible delays in product deliveries and slump in future sales of their products.
MARKET PLAYERS
The report covers key developments in the fertilizers market as organic and inorganic growth strategies. Various companies are focusing on organic growth strategies such as product launches, product approvals and others such as patents and events. Inorganic growth strategies activities witnessed in the market were acquisitions, and partnerships & collaborations. These activities have paved way for the expansion of business and the customer base of market players. The market payers from the fertilizers market are anticipated to have lucrative growth opportunities in the future with the rising demand for fertilizers in the global market.
The report also includes the profiles of key companies along with their SWOT analysis and market strategies in the fertilizers market. In addition, the report focuses on leading industry players with information such as company profiles, components, and services offered, financial information of the last 3 years, the key development in the past five years.
- Saudi Basic Industries Corporation (SABIC)
- The Mosaic Company
- BASF SE
- Yara
- K+S Aktiengesellschaft
- Nutrien Ltd.
- OCP
- ICL
- Uralkali
- California Organic Fertilizers, Inc.
- AgroLiquid
- National Fertilizers Limited
- CF Fertilisers UK
- Origin Fertilisers
- OMEX
- Union Chemicals Co. LLC
- Saudi United Fertilizer Company
- Agrico
- Merck KGaA
- BioFert Manufacturing Inc.