Fertilizers Market Overview
The fertilizers market is projected to register a CAGR of 3.8% during the forecast period, (2022-2027). The rise in demand for organic products is booming, not only due to the increase in conscientious consumers but also due to rising incomes, along with improved farming practices that make organic yields more robust. As a result, the increasing demand for organic food worldwide has increased the area under organic farming. For instance, as per the FiBL statistics, the area under global organic farming increased from 69.4 million hectares in 2017 to 74.9 million hectares in 2020.
The factor such as the increase in organic farming practices resulted in improved soil fertility, along with the extensive usage of organic products, like biofertilizers. This has further triggered the demand for biofertilizer products, as they are organic and help in maintaining the ecological balance. Government bodies across the world are taking initiatives to promote the use of biofertilizers.
Download a free sample here – Fertilizers Market
Fertilizers Market – Geographical Overview
The Asia-Pacific region accounts for around 47.7% of the overall fertilizers market in 2021
China is the largest consumer of fertilizers in the Asia-Pacific region, and it accounted for around 42.5% share in the Asia-Pacific fertilizer market in 2021. China feeds 22% of the world’s population with merely 12.68% of the arable land. China implemented the Action Plan for the Zero Increase of Fertilizer Use in 2015, which led to a decrease in the growth rate of fertilizer use in the country in the following years. However, many foliage fertilizers have been introduced in China in recent years.
According to the US Department of Agriculture, the country has expanded the farmlands to plant 94 million acres of corn and 85 million acres of soybeans, resulting in greater consumption of nitrogenous fertilizers in 2021 and supporting the domestic crop production in the country. Thus, with the increasing demand for nitrogen fertilizers, the United States has increased its export potential, and it is anticipated to become a globally important exporter of nitrogen products in the coming years.
Check our other latest research on –
Recent Developments in the Fertilizers Market
Related Research and Links
List of Key Players in the Fertilizers Market
*List Not Exhaustive
Mordor Intelligence has segmented the Fertilizers Market based on type, crop type, and geography:
About Mordor Intelligence
Mordor Intelligence is a market intelligence and advisory firm. Our mission is to map complex business ecosystems across the globe to better predict butterfly effects. To date, we have partnered with 4000+ enterprises across 20 industries, to deliver precise data and actionable insights in over 6000 projects. Our domain-specific teams of research experts continuously track markets, enabling our clients to gain a competitive edge through high-quality market intelligence.
We offer fully tailored intelligence solutions to meet the unique business requirements of any organization. Our deep industry expertise coupled with cross-functional analyst teams ensures we can support the intelligence requirements of even the most specific of business problems.
Media ContactCompany Name: Mordor Intelligence Private LimitedContact Person: Sai TejaEmail: Send EmailPhone: +1 617-765-2493Address:5th Floor, Rajapushpa Summit, Nanakramguda Rd, Financial District, Gachibowli City: HyderabadState: Telangana 500008Country: IndiaWebsite: https://www.mordorintelligence.com/industry-reports/fertilizers-market?utm_medium=Outbound&utm_source=press-release&utm_campaign=AB_Newswire