Infinium Global Research’s recent report on “Fertilizers Market (By Type (Organic Fertilizers, Inorganic Fertilizers, Bio-Fertilizers), By Form (Granules, Liquid, Gaseous and Others), By Application (Agriculture, Gardens, Sports Fields and Others): Global Industry Analysis, Trends, Size, Share and Forecasts up to 2028” the provides a comprehensive outline of the factors responsible for the growth of the market. The revenue generated by the market was nearly USD 200 billion in 2022 and is expected to reach about 250 billion in 2028 and is expected to grow with a CAGR of over 3% over the forecast period 2022-2028.
To Know More Request a Sample of this Report: https://www.infiniumglobalresearch.com/reports/sample-request/41116
"We are Now Including the Impact Analysis of the COVID-19 on this Premium Report and the Forecast Period of this Report shall be Revised to 2022-2028."
The Section on the Impact of COVID-19 on this Market is Included in the Report for Free.
The Growing Need for Enhanced Soil Nutrients
In the upcoming years, the fertilizer sector will expand due to the changing food trends of both established and emerging countries, together with a growing global population. Plant tissues or soil are treated with natural and synthetic fertilizers to supply one or more nutrients that plants need to flourish. Over the projection period, it is anticipated that the demand for fertilizers would rise even further due to the growing need for improved soil nutrients and rising crop yields. Farmers should be encouraged to utilize fertilizers more effectively and safely as organic fertilizers become increasingly widespread.
Additionally, it is anticipated that by 2050, there will be 9.7 billion people on the planet, up from 7.4 billion in 2016. The majority of these population growths will take place in emerging nations. Therefore, it is advised that between 2005 and 2050, the world's food output be boosted by 60 to 70 percent. The amount of land per person is anticipated to decline in the future due to population growth and a constant pace of land degradation.
COVID-19 was an incomparable global public health emergency that has affected almost every industry and is projected to impact these various industry growths during the forecast period. The COVID-19 pandemic has created instability in the fertilizers market across the globe. However, the market is now estimated to have reached pre-pandemic levels and is expected to grow steadily during the forecast period. Since the COVID-19 outbreak, the fertilizer industry has been significantly affected in many parts of the world by the outset of the pandemic. Due to the shortage of labor and the shutdown of a few fertilizer plants located in the integrated chemical complexes, shipments were affected in the initial lockdown process. China, being the epicenter of the pandemic, was greatly impacted in the beginning. However, the conditions in the country have stabilized, and production rates have increased for all fertilizers. Hence, the overall effect of COVID-19 on the fertilizer industry is moderate.
The Liquid Segment Dominates the Global Market
The report on the global fertilizers market covers segments such as type, form, and application. Based on form the market is further bifurcated into granules, liquid, gaseous, and others. Liquid held the largest share in the Fertilizers market in 2020. The liquid formulation held the largest share in the fertilizers market. The ease of application and transportation are the key drivers for the growth of the liquid formulations segment. Farmers have been using it for many years, as it is easy and safe to handle in comparison with the dry formulation. With the increase in organic farming and increased acreages under precision irrigation technologies. They are adaptable to any type of sprayer, ranging from portable sprayers to hydraulic spraying machines. They are relatively easier to handle for treating large areas, which is the main reason for dominating the fertilizers market.
Need Assistance? Send an Enquiry@ https://www.infiniumglobalresearch.com/reports/customization/41116
Asia-Pacific Dominates the Market Globally
The report provides a regional outlook covering geographies such as North America, Europe, Asia-Pacific, and the Rest of the World. Asia-Pacific is expected to grow at a significant rate in the fertilizers market. Asia-Pacific (APAC) dominated the Fertilizers market consisting of market share in 2020 followed by North America and Europe. In Asia, rice is a large nitrogen-consuming crop. Due to growing concerns about the current pattern of use of fertilizers, heavy dependence on nitrogen fertilizers, poor nutritional management, lack of additional inputs, declining soil fertility, and weak marketing and distribution systems, all these have emerged as major constraints to improving fertilizer efficiency in the region. These concerns have given way to biofertilizers and micronutrient fertilizers to grow and fuel the fertilizer market in the region. World markets are still suffering from the consequences of the Covid-19 pandemic that is sweeping the globe. The fertilizer sector has been affected from the outset, mainly in China, which is the largest producer and user of phosphates, sulfur, and sulphuric acid, while Brazil and India will continue to do so.
The Competitive Landscape of the Market
The report provides a complete insight into the competitors in the fertilizers market, such as CF Industries Holdings, Inc., GÜBRETA, Indian Farmers Fertiliser Cooperative Limited (IFFCO), Haifa Group, Syngenta AG, Unikeyterra, SQM S.A, Yara International ASA, Sumitomo Chemical Co., Ltd., Gemlik Fertilizer, Israel Chemicals Ltd. (ICL) and others. These companies hold an outstanding share in the market because of their good brand image and product offerings. The market for fertilizers has innovation at its backbone, with leading companies aggressively investing in R&D activities to formulate a niche within the market.
For instance, In September 2021, Yara acquires Finish colon to expand its organic fertilizer business which shows the company's commitment to playing a bigger role in the organic fertilizer business. In August 2020, Yara East Africa introduced a micronutrient fertilizer, Yara Microp, to improve maize yields in Western Kenya. Yara Microp is a blended product with nitrogen, phosphorus, ammoniacal nitrogen, sulfur, and zinc, enabling maize crops to grow faster and produce higher yields.
In January 2020, Nutrien Ltd purchased Agrosema Commerical Agricola Ltd to expand its roots in the growing Brazilian agriculture market. Infinium Global Research’s recent report on the Global Fertilizers Market is an encompassment of such recent developments in the global marketplace. The report delivers insights into the recent developments by leading players that have contributed to the growth of the market and also estimates the impact of recent developments in the global market.
Place a Purchase Order to Buy a Complete Copy of this Report Enquire Here: https://www.infiniumglobalresearch.com/reports/enquiry/41116
Reasons to Buy this Report:
=> Comprehensive analysis of global as well as regional markets of the fertilizers.
=> Complete coverage of all the product types and applications segments to analyze the trends, developments, and forecast of market size up to 2028.
=> Comprehensive analysis of the companies operating in this market. The company profile includes an analysis of the product portfolio, revenue, SWOT analysis, and the latest developments of the company.
=> Infinium Global Research- Growth Matrix presents an analysis of the product segments and geographies that market players should focus on to invest, consolidate, expand and/or diversify.
No comments:
Post a Comment