Fertilizer are natural or artificial constituents comprising the chemical substances which advance the development and constructiveness of plants. Fertilizers also improve the natural fertility of the soil or exchange the chemical substances taken from the soil by previous crops.
The use of manure and composts as fertilizers is undoubtedly as old as agriculture. Latest chemical fertilizers involve one or more of the three elements that are most significant in plant nutrition: nitrogen, phosphorus, and potassium. Other elements include sulfur, magnesium, and calcium.
Plants need macronutrients and micronutrients for its development and fertilizers are one of the major sources of these nutrients which not only improve the plant growth but also preserve the soil fertility. During the period 2007-11, it was observed that west zone in India consumed 31,116.73 kilotonnes of fertilizers which was the maximum among the four zones and was also having highest total annual compound growth rate percentage of 9.68.
Market Dynamics- Global Fertilizers Market
Modern food processing, industrial, and packaging approaches have resulted in booming food & beverage sector globally. This has led to an upsurge in the need for agricultural products such as food grains, oilseeds, vegetables, and fruits, which directly, is driving the Fertilizers market growth. The mounting animal husbandry sector has improved the demand for animal feed, additionally triggering the demand for Fertilizers such as fertilizers and plant growth regulators.
Major Developments:
In May 2020, Royal DSM, a global science-based company active in Nutrition, Health and Sustainable Living, today announces the launch of its new Delvo Fertilizers CP-500 cultures for boosting the yield and resource efficiency of mozzarella Fertilizers production.
Similarly, Arla Foods, the Denmark-based dairy giant announced of launching organic cheddar in the United Kingdom using locally sourced milk under its Yeo Valley brand, which it acquired in 2018.
Fertilizers Market Segmental Overview
The study analyses Global Fertilizers market based on type, crop type and geography.
- By type, the global fertilizers market is segmented into organic and inorganic. Organic fertilizers are likely to dominate the market over the forecast period. Increasing land area under organic cultivation and advances in the manufacturing process of organic fertilizers drives the market for organic fertilizers.
- Fertilizers can be applied on various crop type such as cereals & grains, oilseeds & pulses and fruits & vegetables. The nourishing advantages of edible oil, crushed and obtained from numerous oilseeds such as soybean, canola, sunflower, safflower, palms, sesame and other oilseed crops, have resulted in the emerging economies to notice the demonstration effect in the consumption pattern of oilseed-derived vegetable oil.
Fertilizers Market by Geography
Geographically, the study is comprised of the key countries of North America, Europe, Asia-Pacific and Rest of the World. North America dominated the market for the fertilizers owing to the rapid adoption of technical advancement by the growers together with several regulatory frameworks assisting and rising involvement from local government agencies in the region.
However, Asia Pacific is anticipated to be the fastest growing region lead by China, India, Japan, and South Korea and are likely to contribute significantly during the forecast period. Ease of trading across international borders in the region will positively impact the industry growth through the forecast timeframe. Rapid growth of the fast food industry is also one of the aspect major factors driving the market development in this region.
Global Fertilizers Market-Key Players
The major players involved in this market are Agrocare Canada Inc., California Organic Fertilizers Inc., Coromandel International Ltd., BioStar Renewables, Fertikal, ILSA S.p.A., Italpollina S.p.A., Walt's Organic Fertilizer, Scotts Miracle-Gro, Sustane Natural Fertilizer, SARL PLANTIN, Perfect Blend, Nature Safe, Multiplex Group, Midwestern BioAg and among others.
