APAC to Witness Significant Growth in Fertilizers Market until 2025

Increasing demand for food across the globe is expected to drive the growth of global fertilizers market.

According to TechSci Research report, “Global Fertilizers Market By Type (Straight v/s Complex), By Origin (Organic, Synthetic, Bio-fertilizer), By Form (Solid v/s Liquid), By Mode of Application (Foliar Spraying, Fertigation, Sowing, Broadcasting, Spraying, Drip Method, Others), By Crop Type (Grains & Cereals, Pulses & Oilseeds, Commercial Crops, Fruits & Vegetables, Other), By Region, Forecast & Opportunities, 2025”, the global fertilizers market is expected to grow at a steady rate during the forecast period on account of increasing global population. This in turn drives the need to fulfill the demands of the population, thereby increasing the need for production of fruits & vegetables, grains & cereals, pulses & oilseeds, commercial crops, among others. This in turn is expected to positively influence the market growth during the forecast period. Additionally, increasing awareness pertaining to soil profile and nutrition is further expected to propel the market growth through 2025. Besides, technological advancements and new product launches by the major players operating in the market is expected to create lucrative opportunities for the market growth over the next few years. Also, supportive government policies & schemes is expected to spur the market growth during the forecast period. However, high cost of production involved might hamper the market growth through 2025. Furthermore, environmental concerns due to the excessive use of chemical fertilizers might restrict the market growth. Moreover, adherence to the stringent regulatory policies might further impede the market growth over the next few years.

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The global fertilizers market is segmented based on type, origin, form, mode of application, crop type, company and region. Based on type, market can be split into straight and complex. The straight type can further be categorized into nitrogenous, phosphatic, potash, secondary macronutrient fertilizers, micronutrient fertilizers and others. Among these, the nitrogenous fertilizers segment is expected to dominate the market as they supply nitrogen to the plants, which is essential for their growth, metabolism and also play a significant role in the production of chlorophyll. Based on origin, the market can be categorized into synthetic, organic and biofertilizers. Among these, the synthetic segment is expected to dominate the market on account of their low cost, easy availability and well-established market. On the other hand, the organic and bio-fertilizers segment is expected to witness significant growth on account of the growing demand for organic food and growing environmental concerns. Based on form, the market can be bifurcated into solid and liquid. Here, the solid form is expected to hold a significant market share since they are easily available, inexpensive and can be easily stored.

Yara International ASA, The Mosaic Company, Nutrien Limited, K+S AG, Groupe OCP, CF Industries Holdings, Saudi Basic Industries Corporation (SABIC), Bunge Limited, Syngenta AG, BASF SE, Bayer Crop Science, Agrium, Sumitomo Chemical Co. Ltd., Indian Farmers Fertilizer Cooperative Limited, Coromandel International Ltd. and others are some of the leading players operating in global fertilizers market. The companies operating in the market are using organic strategies such as product launches, mergers and collaborations to boost their share.

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“Asia-Pacific is expected to register the highest growth in the fertilizers market during the forecast period, owing to the increasing acceptance of modern farming techniques in the region. Additionally, declining soil fertility, increase in barren land and poor nutrition management is further expected to propel the market over the next few years. Moreover, key manufacturers are also setting up their manufacturing units in the region, which is expected to positively impact the market growth through 2025. Also, increasing demand for low priced fertilizers coupled with the rising food demand in the region to fulfil the needs of the ever increasing population, especially in countries such as India and China is expected to create lucrative opportunities for the growth of market over the next few years.” said Mr. Karan Chechi, Research Director with TechSci Research, a research based global management consulting firm.

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