Press Release

North America Fertilizers Market to Grow with a CAGR of 5.47% through 2028

Rising global population and food demand are expected to drive the North America Fertilizers Market growth in the forecast period, 2024-2028.

 

According to TechSci Research report, “North America Fertilizers Market – Industry Size, Share, Trends, Competition Forecast & Opportunities, 2028”, the North America Fertilizers Market stood at USD 16.85 billion in 2022 and is anticipated to grow with a CAGR of 5.47% in the forecast period, 2024-2028. The North America fertilizers market plays a pivotal role in ensuring food security and sustainable agricultural practices. The world's population is steadily increasing, and with it, the demand for food is growing at an unprecedented rate. North America, particularly the United States and Canada, is known for its robust agricultural production, and the pressure to meet the food demands of not only the local population but also the global market is immense. Fertilizers are indispensable in this context, as they enable farmers to enhance crop yields and, consequently, produce more food to feed a burgeoning global population.

Advancements in agricultural technology are transforming farming practices in North America. Precision agriculture techniques, which include the use of GPS-guided machinery, remote sensing, and data analytics, are becoming increasingly prevalent. These technologies allow farmers to optimize fertilizer application, resulting in more efficient nutrient use and higher crop yields. The adoption of precision agriculture is driving the demand for fertilizers as an essential component of modern farming practices. Environmental concerns, including soil degradation, nutrient runoff, and water pollution, have prompted a shift towards sustainable agriculture in North America. Farmers and agriculturalists are seeking environmentally friendly fertilizer options, such as organic and slow-release fertilizers, which have a reduced environmental impact compared to conventional fertilizers. Regulatory agencies are also imposing stricter rules on nutrient management and water quality, encouraging the development and adoption of innovative and eco-friendly fertilizers.

Governments in North America provide various incentives, subsidies, and support programs to the agriculture sector, including fertilizer subsidies. These programs aim to promote agricultural productivity, boost food security, and ensure the economic stability of rural communities. Government support plays a crucial role in making fertilizers more accessible and affordable for farmers, thus driving their usage.

North America is not only a significant consumer of fertilizers but also a major player in the global fertilizer trade. The region imports and exports fertilizers, making it sensitive to changes in international market dynamics, such as fluctuations in fertilizer prices and trade policies. The need to remain competitive in the global agricultural market drives the demand for fertilizers, as farmers aim to optimize production while managing costs efficiently.

The North America Fertilizers Market is segmented into Origin, Mode of Application, Source, Form, Crop Type, Regional Distribution, And Company.

Based on the Crop Type, Grains & Cereals emerged as the dominant segment in the North America market for North America Fertilizers Market in 2022. Grains & Cereals, including crops like corn, wheat, rice, and barley, form the staple diet for both humans and livestock in North America. These crops are the foundation of the region's food supply chain, addressing the dietary needs of a growing population and a significant livestock industry. Grains & Cereals are typically cultivated over extensive agricultural acreage in North America. The vast farmlands dedicated to these crops result in a substantial demand for fertilizers, as farmers strive to maximize yields and productivity. North America is a major exporter of Grains & Cereals, contributing significantly to the global food market. To meet export demands, farmers require high yields and quality, necessitating the use of fertilizers to enhance crop productivity and nutritional value. Grains & Cereals are often a critical component of crop rotation systems, promoting soil health and preventing the buildup of pests and diseases. This rotation practice encourages the consistent use of fertilizers to maintain soil fertility.

 

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Based on the Mode of Application, the Broadcasting segment emerged as the dominant player in the North America market for North America Fertilizers Market in 2022. Broadcasting typically requires less specialized equipment compared to other methods like drip irrigation or fertigation. This lower equipment cost makes it accessible to a broader range of farmers, including those with smaller operations. Broadcasting is well-suited for the application of dry or granular fertilizers, which are commonly used in North American agriculture. The region's climate and farming practices often favor the use of these types of fertilizers. Broadcasting is generally less labor-intensive than some other methods like foliar spraying or sowing. This efficiency is particularly beneficial for large-scale commercial farming operations. Broadcasting is often considered a cost-effective method of fertilizer application, as it does not require significant investments in specialized equipment or infrastructure. When applied correctly, broadcasting provides reasonably uniform fertilizer distribution across the field. This uniformity is essential for ensuring that all plants receive an adequate supply of nutrients, contributing to consistent crop growth and yields.

Based on the Origin, the synthetic fertilizers segment emerged as the dominant player in the North America market for North America Fertilizers Market in 2022. Synthetic fertilizers contain high concentrations of essential nutrients like nitrogen, phosphorus, and potassium (NPK). These concentrated nutrients provide crops with a rapid and easily accessible source of nutrition, promoting rapid growth and increased yields. Synthetic fertilizers are easy to handle and apply, making them a convenient choice for many farmers. They can be applied through various methods, such as broadcasting, fertigation, or side-dressing, allowing for flexibility in application. Synthetic fertilizers offer immediate results, with nutrients being readily available to plants after application. This quick response is valuable in modern agriculture, where timing is often crucial for optimal crop development. Synthetic fertilizers have consistent and predictable nutrient content, allowing farmers to accurately calculate and control the nutrient levels applied to their crops. This precision is essential for optimizing crop growth and avoiding over-fertilization.

United States emerged as the dominant player in the North America Fertilizers Market in 2022, holding the largest market share. The United States boasts an extensive agricultural landscape, encompassing diverse climates and soil types across various states. This vast land area is dedicated to the cultivation of a wide range of crops, including grains, cereals, oilseeds, fruits, vegetables, and more. The sheer size and diversity of U.S. agriculture contribute significantly to the demand for fertilizers. The United States is known for its highly productive agriculture sector, which is capable of producing large quantities of food and agricultural products. To maintain and enhance this high level of productivity, American farmers rely on fertilizers to optimize crop yields. The United States cultivates a broad spectrum of crops, from staple grains like corn and wheat to specialty crops like soybeans, cotton, and various fruits and vegetables. Each of these crop types has distinct nutrient requirements, driving the need for a variety of fertilizers tailored to specific crops and soil conditions.

 

Major companies operating in North America Fertilizers Market are:

  • Koch Fertiliser Australia Pty Ltd
  • Incitec Pivot Limited
  • Wesfarmers Limited
  • Spraygro Liquid Fertilizers
  • S.J.B. Ag-Nutri
  • Yara
  • Tradecorp APAC Pty. Ltd.
  • Neutrog Australia
  • Pacific Fertiliser Pty Ltd
  • Perdaman

 

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 “The North America Fertilizers Market is poised for significant growth in the coming years. the region's ever-increasing population and the consequent rise in food demand will necessitate higher agricultural productivity, boosting the demand for fertilizers. the adoption of precision agriculture techniques and advanced technologies will lead to more efficient fertilizer use, optimizing crop yields. Additionally, the ongoing commitment to sustainable farming practices and environmental awareness will drive the demand for eco-friendly and organic fertilizers. Government support and subsidies will continue to make fertilizers more accessible to farmers, promoting their use. As North America remains a global agricultural powerhouse, its pivotal role in meeting both domestic and international food requirements will further contribute to the fertilizers market's growth....” said Mr. Karan Chechi, Research Director with TechSci Research, a research-based management consulting firm.

North America Fertilizers Market Segmented By Origin (Organic, Synthetic, Bio-fertilizer), By Mode of Application (Foliar Spraying, Fertigation, Sowing, Broadcasting, Spraying, Drip Method, Others), By Form (Solid, Liquid), By Crop Type (Grains & Cereals, Pulses & Oilseeds, Commercial Crops, Fruits & Vegetables, Other), By Source (Domestic, Import) Region and Competition, Opportunity, and Forecast, 2018-2028”, has evaluated the future growth potential of North America Fertilizers Market and provides statistics & information on market size, structure and future market growth. The report intends to provide cutting-edge market intelligence and help decision makers take sound investment decisions. Besides, the report also identifies and analyzes the emerging trends along with essential drivers, challenges, and opportunities in North America Fertilizers Market.

 

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