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Fertilizer Market Trends

  • Report ID: GMI4577
  • Published Date: Jan 2024
  • Report Format: PDF

Fertilizer Market Trends

The market is undergoing notable trends driven by evolving agricultural practices and environmental considerations. Sustainable agriculture is a prominent trend, leading to increased demand for organic and bio-based fertilizers. These alternatives promote soil health, reduce environmental impact, and align with the growing preference for eco-friendly farming practices. Precision agriculture is another significant trend, with the integration of technology to optimize fertilizer application.

Advanced sensors, drones, and data analytics enable farmers to tailor fertilizer usage based on specific crop needs, enhancing efficiency and minimizing waste. This trend aligns with the broader digital transformation in agriculture, fostering precision and resource optimization. Furthermore, there is a growing emphasis on nutrient management and balanced fertilization to address soil health and prevent nutrient imbalances. This approach involves a more strategic use of fertilizers to meet the precise needs of different crops and soil types.
 

Authors: Kiran Pulidindi, Akshay Prakash

Frequently Asked Questions (FAQ) :

Global fertilizer industry was valued at USD 202 billion in 2023 and is anticipated to register a CAGR of over 2.7% between 2024 and 2032, owing to a rising global population and increasing demand for food production.

Dry fertilizers segmented accounted for USD 169 billion in 2023 and will continue to grow, owing to its versatility and widespread use in various agriculture applications.

Asia Pacific fertilizer market generated a revenue of over USD 101 billion in 2023 and will record a notable growth through 2032, owing to humongous population, along with the adoption of modern agricultural practices and technologies.

Yara International ASA, Nutrien Ltd., The Mosaic Company, CF Industries Holdings, Inc., K+S Group, EuroChem Group AG, Israel Chemicals Ltd., OCP Group, and Haifa Group among others.

Fertilizer Market Scope

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Premium Report Details

  • Base Year: 2023
  • Companies covered: 13
  • Tables & Figures: 188
  • Countries covered: 21
  • Pages: 300
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