Compound Fertilizer Market
Compound Fertilizer Market Forecasts to 2028 - Global Analysis By Type (Three Element Compound Fertilizer, Two Element Compound Fertilizer), Application (Corn, Rice, Vegetable, Wheat, Fruit Tree, Tobacco, Other Applications) and Geography
|
Years Covered |
2020-2028 |
|
Estimated Year Value (2022) |
US $211.95 BN |
|
Projected Year Value (2028) |
US $290.60 BN |
|
CAGR (2022 - 2028) |
5.4% |
|
Regions Covered |
North America, Europe, Asia Pacific, South America, and Middle East & Africa |
|
Countries Covered |
US, Canada, Mexico, Germany, UK, Italy, France, Spain, Japan, China, India, Australia, New Zealand, South Korea, Rest of Asia Pacific, South America, Argentina, Brazil, Chile, Middle East & Africa, Saudi Arabia, UAE, Qatar, and South Africa |
|
Largest Market |
Asia Pacific |
|
Highest Growing Market |
Asia Pacific |
According to Stratistics MRC, the Global Compound Fertilizer Market is accounted for $211.95 billion in 2022 and is expected to reach $290.60 billion by 2028 growing at a CAGR of 5.4% during the forecast period. A compound fertiliser incorporates secondary nutrients including trace elements in addition to two or more essential plant nutrients. Both organic and inorganic compounds are possible.
Market Dynamics:
Driver:
Growing awareness
Market expansion is being aided by rapid urbanisation and a shift in consumer dietary habits. Further dampening market growth are rising technological developments in the agricultural industry and farmers' growing awareness of the advantages of employing compound fertilisers.
Restraint:
Inappropriate uses
The restricted usage of compound fertilisers in crop production is the main barrier to the market for compound fertilisers. However, improper usage of these compounds and inaccurate nutritional composition determination will be a difficulty in the compound fertilisers market throughout the projection period.
Opportunity:
Knowledge on agricultural profiles
Compound fertiliser demand is anticipated to rise as farmer awareness of soil profile and physiological balance rises, commercial agriculture becomes more and more popular throughout the world, low-cost fertiliser production increases, and agrochemical demand rises. The market's growth pace will also be slowed down by the need to boost productivity and close yield and fertiliser intensity discrepancies between nations.
Threat:
Uncontrolled Use of Compound Fertilizers that Leads to Pollution
As excessive usage of compound fertilisers’ results in pollution, their use should be optimised and regulated. However, using nitrogen-based compound fertilisers excessively can be harmful because they have hazardous effects on people, plants, animals, and water systems. High-nitrate diets have been associated with endogenous nitrozation, which has been connected to thyroid disease, a number of human cancers, anomalies of the neural tube, and diabetes. Additionally, it causes climate change, emits dangerous greenhouse gases like nitrous oxide, increases unpredictability, and the government has a consistent policy concentrate on the environment, all of which are predicted to restrain the growth of the compound fertilisers market over the course of the forecast period.
Covid-19 Impact
When growing vegetables, fruits, wine, and other crops that need intensive crop care, which including seed treatment, soil management, crop protection, and other services, compound fertiliser is frequently utilised. However, due to the pandemic, concerns including delayed crop care and pesticide product supply, trade and delivery issues, and numerous others are hindering production in these areas. The COVID-19 Pandemic has put the entire world on lockdown, causing restaurants including grocery stores to close and a drop in the demand for freshly produce goods that has an impact on growers and suppliers.
The Three-Element Compound Fertilizer segment is expected to be the largest during the forecast period
The Three-Element Compound Fertilizer segment is estimated to have a lucrative growth. The three elements nitrogen, phosphorus, and potassium are combined to form a three-element compound fertiliser. These kinds of substances, also referred to as NPK fertilisers, are added to soil to produce organic nutrients for plants. A three-element compound fertiliser has gained popularity because plants can more readily absorb it than when individual ingredients are added separately. This implies that you will require less moisture or other liquid when using this kind of product to prepare your soil and yet obtain reasonable results from the crops produced on top of them.
The Fruit Trees segment is expected to have the highest CAGR during the forecast period
The Fruit Trees segment is anticipated to witness the fastest CAGR growth during the forecast period. Fruit plants most frequently use compound fertilisers. They offer the essential minerals, like phosphate or nitrogen, to support plant growth and fruit production. Compounds also improve the soil's capacity to store water, making it more drought-resistant. Fruit tree cultivation requires the application of compound fertiliser more than other types of agriculture because fruit trees have low nutrient requirements and vast root systems that enable them less susceptible to interact with other products for nutrients in the soil.
Region with highest share:
Asia Pacific is projected to hold the largest market share during the forecast period owing to the increased need for agrochemicals, particularly in developing economies, to prevent and manage significant plant diseases and will do so over the projection period as well. The fast use of cutting-edge agricultural technologies to control crop diseases is having a positive impact on the Asia-Pacific area.
Region with highest CAGR:
Asia Pacific is projected to have the highest CAGR over the forecast period. Rice is a significant nitrogen-consuming crop in Asia. Growing worries about the region's current fertiliser usage patterns, heavy reliance on nitrogen fertilisers, subpar nutritional management, a dearth of additional inputs, deteriorating soil fertility, and inadequate distribution and marketing systems have all become significant roadblocks to increasing fertiliser efficiency. These worries are now being replaced by the growth and support of the regional fertiliser market provided by Biofertilizers and micronutrient fertilisers.
Key players in the market
Some of the key players profiled in the Compound Fertilizer Market include Stanley, Agrium, Yara, Mosaic, ICL, SABIC, K+S, Sumitomo Chemicals Co. Ltd., Compass Minerals, Nufarm, Bayer AG, BASF SE, Belamskali, Uralkali and Sinochem.
Key Developments:
In November 2017, Yara International has acquired Agronomic Technology Corp (ATC). The acquisition has expanded the product portfolio of Yara International as well as strengthened its global presence.
Type Covered:
• Three Element Compound Fertilizer
• Two Element Compound Fertilizer
Applications Covered:
• Corn
• Rice
• Vegetable
• Wheat
• Fruit Tree
• Tobacco
• Other Applications
Regions Covered:
• North America
o US
o Canada
o Mexico
• Europe
o Germany
o UK
o Italy
o France
o Spain
o Rest of Europe
• Asia Pacific
o Japan
o China
o India
o Australia
o New Zealand
o South Korea
o Rest of Asia Pacific
• South America
o Argentina
o Brazil
o Chile
o Rest of South America
• Middle East & Africa
o Saudi Arabia
o UAE
o Qatar
o South Africa
o Rest of Middle East & Africa
What our report offers:
- Market share assessments for the regional and country-level segments
- Strategic recommendations for the new entrants
- Covers Market data for the years 2020, 2021, 2022, 2025, and 2028
- Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
- Strategic recommendations in key business segments based on the market estimations
- Competitive landscaping mapping the key common trends
- Company profiling with detailed strategies, financials, and recent developments
- Supply chain trends mapping the latest technological advancements
Free Customization Offerings:
All the customers of this report will be entitled to receive one of the following free customization options:
• Company Profiling
o Comprehensive profiling of additional market players (up to 3)
o SWOT Analysis of key players (up to 3)
• Regional Segmentation
o Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
• Competitive Benchmarking
o Benchmarking of key players based on product portfolio, geographical presence, and strategic alliances
Table of Contents
1 Executive Summary
2 Preface
2.1 Abstract
2.2 Stake Holders
2.3 Research Scope
2.4 Research Methodology
2.4.1 Data Mining
2.4.2 Data Analysis
2.4.3 Data Validation
2.4.4 Research Approach
2.5 Research Sources
2.5.1 Primary Research Sources
2.5.2 Secondary Research Sources
2.5.3 Assumptions
3 Market Trend Analysis
3.1 Introduction
3.2 Drivers
3.3 Restraints
3.4 Opportunities
3.5 Threats
3.6 Application Analysis
3.7 Emerging Markets
3.8 Impact of Covid-19
4 Porters Five Force Analysis
4.1 Bargaining power of suppliers
4.2 Bargaining power of buyers
4.3 Threat of substitutes
4.4 Threat of new entrants
4.5 Competitive rivalry
5 Global Compound Fertilizer Market, By Type
5.1 Introduction
5.2 Three Element Compound Fertilizer
5.3 Two Element Compound Fertilizer
6 Global Compound Fertilizer Market, By Application
6.1 Introduction
6.2 Corn
6.3 Rice
6.4 Vegetable
6.5 Wheat
6.6 Fruit Tree
6.7 Tobacco
6.8 Other Applications
7 Global Compound Fertilizer Market, By Geography
7.1 Introduction
7.2 North America
7.2.1 US
7.2.2 Canada
7.2.3 Mexico
7.3 Europe
7.3.1 Germany
7.3.2 UK
7.3.3 Italy
7.3.4 France
7.3.5 Spain
7.3.6 Rest of Europe
7.4 Asia Pacific
7.4.1 Japan
7.4.2 China
7.4.3 India
7.4.4 Australia
7.4.5 New Zealand
7.4.6 South Korea
7.4.7 Rest of Asia Pacific
7.5 South America
7.5.1 Argentina
7.5.2 Brazil
7.5.3 Chile
7.5.4 Rest of South America
7.6 Middle East & Africa
7.6.1 Saudi Arabia
7.6.2 UAE
7.6.3 Qatar
7.6.4 South Africa
7.6.5 Rest of Middle East & Africa
8 Key Developments
8.1 Agreements, Partnerships, Collaborations and Joint Ventures
8.2 Acquisitions & Mergers
8.3 New Product Launch
8.4 Expansions
8.5 Other Key Strategies
9 Company Profiling
9.1 Stanley
9.2 Agrium
9.3 Yara
9.4 Mosaic
9.5 ICL
9.6 SABIC
9.7 K+S
9.8 Sumitomo Chemicals Co. Ltd.
9.9 Compass Minerals
9.10 Nufarm
9.11 Bayer AG
9.12 BASF SE
9.13 Belamskali
9.14 Uralkali
9.15 Sinochem
List of Tables
1 Global Compound Fertilizer Market Outlook, By Region (2020-2028) ($MN)
2 Global Compound Fertilizer Market Outlook, By Type (2020-2028) ($MN)
3 Global Compound Fertilizer Market Outlook, By Three Element Compound Fertilizer (2020-2028) ($MN)
4 Global Compound Fertilizer Market Outlook, By Two Element Compound Fertilizer (2020-2028) ($MN)
5 Global Compound Fertilizer Market Outlook, By Application (2020-2028) ($MN)
6 Global Compound Fertilizer Market Outlook, By Corn (2020-2028) ($MN)
7 Global Compound Fertilizer Market Outlook, By Rice (2020-2028) ($MN)
8 Global Compound Fertilizer Market Outlook, By Vegetable (2020-2028) ($MN)
9 Global Compound Fertilizer Market Outlook, By Wheat (2020-2028) ($MN)
10 Global Compound Fertilizer Market Outlook, By Fruit Tree (2020-2028) ($MN)
11 Global Compound Fertilizer Market Outlook, By Tobacco (2020-2028) ($MN)
12 Global Compound Fertilizer Market Outlook, By Other Applications (2020-2028) ($MN)
13 North America Compound Fertilizer Market Outlook, By Country (2020-2028) ($MN)
14 North America Compound Fertilizer Market Outlook, By Type (2020-2028) ($MN)
15 North America Compound Fertilizer Market Outlook, By Three Element Compound Fertilizer (2020-2028) ($MN)
16 North America Compound Fertilizer Market Outlook, By Two Element Compound Fertilizer (2020-2028) ($MN)
17 North America Compound Fertilizer Market Outlook, By Application (2020-2028) ($MN)
18 North America Compound Fertilizer Market Outlook, By Corn (2020-2028) ($MN)
19 North America Compound Fertilizer Market Outlook, By Rice (2020-2028) ($MN)
20 North America Compound Fertilizer Market Outlook, By Vegetable (2020-2028) ($MN)
21 North America Compound Fertilizer Market Outlook, By Wheat (2020-2028) ($MN)
22 North America Compound Fertilizer Market Outlook, By Fruit Tree (2020-2028) ($MN)
23 North America Compound Fertilizer Market Outlook, By Tobacco (2020-2028) ($MN)
24 North America Compound Fertilizer Market Outlook, By Other Applications (2020-2028) ($MN)
25 Europe Compound Fertilizer Market Outlook, By Country (2020-2028) ($MN)
26 Europe Compound Fertilizer Market Outlook, By Type (2020-2028) ($MN)
27 Europe Compound Fertilizer Market Outlook, By Three Element Compound Fertilizer (2020-2028) ($MN)
28 Europe Compound Fertilizer Market Outlook, By Two Element Compound Fertilizer (2020-2028) ($MN)
29 Europe Compound Fertilizer Market Outlook, By Application (2020-2028) ($MN)
30 Europe Compound Fertilizer Market Outlook, By Corn (2020-2028) ($MN)
31 Europe Compound Fertilizer Market Outlook, By Rice (2020-2028) ($MN)
32 Europe Compound Fertilizer Market Outlook, By Vegetable (2020-2028) ($MN)
33 Europe Compound Fertilizer Market Outlook, By Wheat (2020-2028) ($MN)
34 Europe Compound Fertilizer Market Outlook, By Fruit Tree (2020-2028) ($MN)
35 Europe Compound Fertilizer Market Outlook, By Tobacco (2020-2028) ($MN)
36 Europe Compound Fertilizer Market Outlook, By Other Applications (2020-2028) ($MN)
37 Asia Pacific Compound Fertilizer Market Outlook, By Country (2020-2028) ($MN)
38 Asia Pacific Compound Fertilizer Market Outlook, By Type (2020-2028) ($MN)
39 Asia Pacific Compound Fertilizer Market Outlook, By Three Element Compound Fertilizer (2020-2028) ($MN)
40 Asia Pacific Compound Fertilizer Market Outlook, By Two Element Compound Fertilizer (2020-2028) ($MN)
41 Asia Pacific Compound Fertilizer Market Outlook, By Application (2020-2028) ($MN)
42 Asia Pacific Compound Fertilizer Market Outlook, By Corn (2020-2028) ($MN)
43 Asia Pacific Compound Fertilizer Market Outlook, By Rice (2020-2028) ($MN)
44 Asia Pacific Compound Fertilizer Market Outlook, By Vegetable (2020-2028) ($MN)
45 Asia Pacific Compound Fertilizer Market Outlook, By Wheat (2020-2028) ($MN)
46 Asia Pacific Compound Fertilizer Market Outlook, By Fruit Tree (2020-2028) ($MN)
47 Asia Pacific Compound Fertilizer Market Outlook, By Tobacco (2020-2028) ($MN)
48 Asia Pacific Compound Fertilizer Market Outlook, By Other Applications (2020-2028) ($MN)
49 South America Compound Fertilizer Market Outlook, By Country (2020-2028) ($MN)
50 South America Compound Fertilizer Market Outlook, By Type (2020-2028) ($MN)
51 South America Compound Fertilizer Market Outlook, By Three Element Compound Fertilizer (2020-2028) ($MN)
52 South America Compound Fertilizer Market Outlook, By Two Element Compound Fertilizer (2020-2028) ($MN)
53 South America Compound Fertilizer Market Outlook, By Application (2020-2028) ($MN)
54 South America Compound Fertilizer Market Outlook, By Corn (2020-2028) ($MN)
55 South America Compound Fertilizer Market Outlook, By Rice (2020-2028) ($MN)
56 South America Compound Fertilizer Market Outlook, By Vegetable (2020-2028) ($MN)
57 South America Compound Fertilizer Market Outlook, By Wheat (2020-2028) ($MN)
58 South America Compound Fertilizer Market Outlook, By Fruit Tree (2020-2028) ($MN)
59 South America Compound Fertilizer Market Outlook, By Tobacco (2020-2028) ($MN)
60 South America Compound Fertilizer Market Outlook, By Other Applications (2020-2028) ($MN)
61 Middle East & Africa Compound Fertilizer Market Outlook, By Country (2020-2028) ($MN)
62 Middle East & Africa Compound Fertilizer Market Outlook, By Type (2020-2028) ($MN)
63 Middle East & Africa Compound Fertilizer Market Outlook, By Three Element Compound Fertilizer (2020-2028) ($MN)
64 Middle East & Africa Compound Fertilizer Market Outlook, By Two Element Compound Fertilizer (2020-2028) ($MN)
65 Middle East & Africa Compound Fertilizer Market Outlook, By Application (2020-2028) ($MN)
66 Middle East & Africa Compound Fertilizer Market Outlook, By Corn (2020-2028) ($MN)
67 Middle East & Africa Compound Fertilizer Market Outlook, By Rice (2020-2028) ($MN)
68 Middle East & Africa Compound Fertilizer Market Outlook, By Vegetable (2020-2028) ($MN)
69 Middle East & Africa Compound Fertilizer Market Outlook, By Wheat (2020-2028) ($MN)
70 Middle East & Africa Compound Fertilizer Market Outlook, By Fruit Tree (2020-2028) ($MN)
71 Middle East & Africa Compound Fertilizer Market Outlook, By Tobacco (2020-2028) ($MN)
72 Middle East & Africa Compound Fertilizer Market Outlook, By Other Applications (2020-2028) ($MN)
List of Figures
RESEARCH METHODOLOGY
We at ‘Stratistics’ opt for an extensive research approach which involves data mining, data validation, and data analysis. The various research sources include in-house repository, secondary research, competitor’s sources, social media research, client internal data, and primary research.
Our team of analysts prefers the most reliable and authenticated data sources in order to perform the comprehensive literature search. With access to most of the authenticated data bases our team highly considers the best mix of information through various sources to obtain extensive and accurate analysis.
Each report takes an average time of a month and a team of 4 industry analysts. The time may vary depending on the scope and data availability of the desired market report. The various parameters used in the market assessment are standardized in order to enhance the data accuracy.
Data Mining
The data is collected from several authenticated, reliable, paid and unpaid sources and is filtered depending on the scope & objective of the research. Our reports repository acts as an added advantage in this procedure. Data gathering from the raw material suppliers, distributors and the manufacturers is performed on a regular basis, this helps in the comprehensive understanding of the products value chain. Apart from the above mentioned sources the data is also collected from the industry consultants to ensure the objective of the study is in the right direction.
Market trends such as technological advancements, regulatory affairs, market dynamics (Drivers, Restraints, Opportunities and Challenges) are obtained from scientific journals, market related national & international associations and organizations.
Data Analysis
From the data that is collected depending on the scope & objective of the research the data is subjected for the analysis. The critical steps that we follow for the data analysis include:
- Product Lifecycle Analysis
- Competitor analysis
- Risk analysis
- Porters Analysis
- PESTEL Analysis
- SWOT Analysis
The data engineering is performed by the core industry experts considering both the Marketing Mix Modeling and the Demand Forecasting. The marketing mix modeling makes use of multiple-regression techniques to predict the optimal mix of marketing variables. Regression factor is based on a number of variables and how they relate to an outcome such as sales or profits.
Data Validation
The data validation is performed by the exhaustive primary research from the expert interviews. This includes telephonic interviews, focus groups, face to face interviews, and questionnaires to validate our research from all aspects. The industry experts we approach come from the leading firms, involved in the supply chain ranging from the suppliers, distributors to the manufacturers and consumers so as to ensure an unbiased analysis.
We are in touch with more than 15,000 industry experts with the right mix of consultants, CEO's, presidents, vice presidents, managers, experts from both supply side and demand side, executives and so on.
The data validation involves the primary research from the industry experts belonging to:
- Leading Companies
- Suppliers & Distributors
- Manufacturers
- Consumers
- Industry/Strategic Consultants
Apart from the data validation the primary research also helps in performing the fill gap research, i.e. providing solutions for the unmet needs of the research which helps in enhancing the reports quality.
For more details about research methodology, kindly write to us at info@strategymrc.com
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