Nitrogenous Fertilizer Market to Grow with a CAGR of 5.52% through 2028
Rising global population and food security concerns are
expected to drive the Global Nitrogenous Fertilizer Market growth in the
forecast period, 2024-2028.
According to TechSci Research report, “Nitrogenous
Fertilizer Market – Global Industry Size, Share, Trends, Competition
Forecast & Opportunities, 2028”, the Global Nitrogenous Fertilizer Market
stood at USD 58.33 billion in 2022 and is anticipated to grow with a CAGR of 4.51%
in the forecast period, 2024-2028. The global nitrogenous fertilizer market is
witnessing substantial growth driven by a confluence of factors that underscore
its importance in modern agriculture. Nitrogenous fertilizers, comprising
compounds like urea, ammonium nitrate, and ammonium sulfate, play a pivotal
role in enhancing crop yields and ensuring food security for a burgeoning global
population. One of the
primary drivers behind the growth of the global nitrogenous fertilizer market
is the relentless increase in the global population. With the world population
projected to reach 9 billion by 2050, there is an ever-growing demand for food
production. Nitrogenous fertilizers are essential in this context as they
provide crops with the necessary nitrogen required for robust growth and higher
yields. To meet the escalating food demand, farmers across the globe rely on
nitrogenous fertilizers to optimize their crop production, making these
fertilizers an indispensable component of modern agriculture.
Modern farming practices are another key driver of the
nitrogenous fertilizer market's expansion. Farmers are increasingly adopting
precision agriculture techniques, which involve the precise application of
fertilizers based on the specific needs of crops. This precision reduces waste
and maximizes the efficiency of nutrient uptake, resulting in higher crop
yields. Nitrogenous fertilizers are instrumental in this shift towards
precision agriculture, as they can be tailored to meet the nitrogen requirements
of various crops, ensuring optimal growth and minimal environmental impact.
In a world with limited arable land, increasing
agricultural productivity is essential to meet the growing demand for food.
Nitrogenous fertilizers enable farmers to achieve this goal by enhancing crop
yields significantly. They stimulate vigorous plant growth, improve leaf
development, and contribute to higher protein content in grains, all of which
are critical factors for increasing productivity. As a result, the global
nitrogenous fertilizer market is buoyed by the incessant need for higher
agricultural yields to sustain a growing population.
Browse over XX market data Figures spread
through XX Pages and an in-depth TOC on "Global Nitrogenous
Fertilizer Market.”
The global nitrogenous fertilizer market benefits from
ongoing technological advancements that enhance fertilizer production and
application techniques. Innovations in fertilizer manufacturing processes have
made nitrogenous fertilizers more cost-effective and accessible to farmers
worldwide. Additionally, research and development efforts have led to the
creation of controlled-release fertilizers, which release nitrogen slowly over
time, reducing the risk of nitrogen leaching and runoff. These technological
advancements continue to drive the market by providing farmers with more
efficient and environmentally friendly fertilizer options.
The Global Nitrogenous Fertilizer Market is segmented
into Product, End Use, Regional Distribution, And Company.
Based on the Product, Urea emerged as
the dominant segment in the global market for Global Nitrogenous Fertilizer
Market in 2022. Urea can be used on a wide range of crops, from grains and
cereals to fruits and vegetables. Its versatility makes it a preferred choice
for farmers with diverse crop portfolios. Urea is a dry granular fertilizer,
making it easy to handle and apply. It can be applied using conventional
spreading equipment, which is readily available to most farmers. Urea is less
prone to ammonia volatilization (loss of nitrogen into the atmosphere as
ammonia gas) compared to ammonium-based fertilizers like ammonium nitrate or
ammonium sulfate. This characteristic makes it suitable for a broader range of
soil and climate conditions. Urea undergoes a chemical transformation in the
soil called hydrolysis, converting into ammonium and then nitrate forms of
nitrogen. This slow-release characteristic ensures a longer-lasting nitrogen
supply to the plants, reducing the need for frequent applications. Urea is
widely produced and readily available in most parts of the world, contributing
to its popularity and high demand in the global fertilizer market. Urea
contains a high concentration of nitrogen, typically around 46%, which makes it
an excellent source of nitrogen for plants. Nitrogen is a vital nutrient for
plant growth and is required in relatively large quantities compared to other
essential nutrients.
Based on the Application, the Cereals & Grains
segment emerged as the dominant player in the global market for Global
Nitrogenous Fertilizer Market in 2022.
Cereals
and grains, such as wheat, rice, corn, and barley, are staple food crops for a
significant portion of the world's population. These crops require substantial
amounts of nitrogen for optimal growth and yield. Nitrogenous fertilizers,
particularly urea, are crucial for meeting the nutrient demands of these major
cereal and grain crops. Cereals and grains are typically cultivated on
extensive agricultural acreage globally. Their widespread cultivation, combined
with their high nitrogen requirements, leads to a substantial demand for
nitrogenous fertilizers. Ensuring an adequate supply of cereals and grains is
essential for global food security. To meet the dietary needs of a growing
global population, farmers rely on nitrogenous fertilizers to maximize cereal
and grain yields. Cereals and grains are not only essential for food production
but also for livestock feed and various industrial uses, including biofuel
production. Their economic significance amplifies the demand for nitrogenous
fertilizers to achieve higher yields and maintain a stable supply.
Crop rotation practices often involve alternating
between cereals and other crops. Nitrogenous fertilizers provide flexibility in
crop rotation systems by supplying the necessary nutrients for cereal
production, ensuring consistent yields and preventing soil nutrient depletion.
Asia-pacific emerged as the dominant player in the
global Nitrogenous Fertilizer Market in 2022, holding the largest market share.
The Asia-Pacific region boasts one of the world's largest and most diverse
agricultural sectors. With a significant portion of the population engaged in
agriculture, the demand for fertilizers, including nitrogenous fertilizers, is
consistently high. This large agricultural base is a primary driver of the
region's dominance in the market. Asia-Pacific is home to a rapidly growing
population. As the population increases, so does the demand for food. To meet
this demand, farmers in the region rely heavily on nitrogenous fertilizers to
boost crop yields and ensure food security.
The region cultivates a wide variety of crops,
including staples like rice, wheat, and corn, which are known to benefit
significantly from nitrogenous fertilizers. Additionally, Asia-Pacific is a
major producer of cash crops like sugarcane and cotton, which also require
nitrogen-rich fertilizers for optimal growth. Many countries in the
Asia-Pacific region have experienced robust economic growth, leading to
increased investment in agriculture and improved access to fertilizers. As
economies develop, farmers can afford to invest in modern agricultural
practices, including the use of fertilizers.
Major companies operating in Global Nitrogenous
Fertilizer Market are:
- Kynoch Fertilizer
- ICL Fertilizers
- Bunge Ltd.
- Nutrien Ltd.
- Yara International
- Omnia Holdings Limited
- Eurochem Group AG
- Aquasol Nutri
- TriomfSA
- Rolfes Agri (Pty) Ltd.
Download
Free Sample Report
Customers can also request for 10%
free customization on this report.
“The Global Nitrogenous
Fertilizer Market is poised for substantial growth in the coming years, driven
by several key factors. Anticipated population growth and changing dietary
patterns are expected to boost the demand for agricultural products, placing
increased pressure on farmers to maximize crop yields and quality. Potash, a
critical nutrient for plant health, plays a pivotal role in achieving these
objectives. Additionally, as the world focuses on sustainable agricultural
practices and environmental responsibility, the relatively eco-friendly nature
of Nitrogenous Fertilizer fertilizers positions them favorably in meeting
regulatory requirements and consumer preferences. Technological advancements in
Nitrogenous Fertilizer mining, processing, and distribution are increasing
efficiency and reducing production costs, making Nitrogenous Fertilizer more
accessible and affordable.” said Mr. Karan Chechi, Research Director with
TechSci Research, a research-based management consulting firm.
“Nitrogenous Fertilizer Market - Global Industry
Size, Share, Trends, Opportunity, and Forecast, 2018-2028 Segmented By Product
(Urea, Methylene Urea, Ammonium Nitrate, Ammonium Sulfate, Ammonia, Calcium
Ammonium Nitrate, Others), By Application (Cereals & Grains, Oilseeds &
Pulses, Fruits & Vegetables, Others) By Region and Competition”, has evaluated
the future growth potential of Global Nitrogenous Fertilizer 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 Global Nitrogenous Fertilizer Market.
Contact
Mr. Ken Mathews
Techsci Research LLC
420 Lexington Avenue, Suite 300,
New York, United States- 10170
Tel: +1-332-258-6602
Email: [email protected]
Website: www.techsciresearch.com