Mineral Fertilizers Market
Mineral Fertilizers Market Forecasts to 2030 - Global Analysis By Product Type (Nitrogenous Fertilizers, Phosphatic Fertilizers, Potassic Fertilizers and Mixed Fertilizers), Formulation (Granular, Liquid and Powdered), Crop Type, Usage Purpose, End User, Distribution Channel and Geography
According to Stratistics MRC, the Global Mineral Fertilizers Market is accounted for $116.27 billion in 2024 and is expected to reach $163.07 billion by 2030, growing at a CAGR of 5.8% during the forecast period. Mineral fertilizers are chemical compounds used to enhance soil fertility and promote plant growth. They provide essential nutrients such as nitrogen, phosphorus, and potassium, which are critical for plant development and yield. Unlike organic fertilizers, mineral fertilizers are synthesized from minerals and are highly concentrated, allowing for precise nutrient management. They are widely used in agriculture to improve crop productivity, support plant health, and optimize soil nutrients levels.
According to the International Fertilizer Association (IFA), Global fertilizer production in 2019 was approximately 252 million tonnes of nutrients.
Market Dynamics:
Driver:
Increased agricultural productivity
Mineral fertilizers play a crucial role in enhancing crop yields by providing essential nutrients to plants. These fertilizers help farmers maximize their output from limited arable land, addressing food security concerns. The ability of mineral fertilizers to improve crop quality and quantity, even in less fertile soils, makes them indispensable in modern agriculture. As countries strive to achieve food self-sufficiency and boost agricultural exports, the demand for mineral fertilizers continues to rise, driving market growth.
Restraint:
Soil health concerns
Overuse can result in soil acidification, nutrient imbalances, and reduced microbial activity, potentially decreasing long-term soil fertility. Environmental concerns such as nutrient runoff and water pollution also contribute to this restraint. As awareness of sustainable agriculture practices grows, some farmers are seeking alternatives or reducing their reliance on mineral fertilizers. This shift towards more balanced nutrient management and organic farming methods challenges the mineral fertilizer market to adapt and address these concerns through improved formulations and application techniques.
Opportunity:
Integration with precision agriculture
Precision agriculture uses data-driven approaches to optimize fertilizer application, ensuring that crops receive the right nutrients at the right time and in the right quantities. This integration can lead to more efficient use of mineral fertilizers, reducing waste and environmental impact while improving crop yields. Smart farming technologies, such as GPS-guided application systems and soil sensors, enable farmers to tailor fertilizer use to specific field conditions. This opportunity allows mineral fertilizer manufacturers to develop specialized products and services that complement precision agriculture practices, potentially expanding their market reach.
Threat:
Climate change
Extreme weather events, changing precipitation patterns, and rising temperatures can affect crop growth and soil conditions, potentially altering fertilizer requirements and efficacy. Prolonged droughts or floods may reduce fertilizer demand in affected regions. Additionally, climate change mitigation efforts and stricter environmental regulations could lead to restrictions on fertilizer use or shifts towards more sustainable alternatives. The unpredictability of climate impacts challenges the industry to develop more resilient and adaptable fertilizer solutions.
Covid-19 Impact:
The COVID-19 pandemic initially disrupted the mineral fertilizers market through supply chain interruptions and logistical challenges. However, the agricultural sector's essential nature ensured continued demand. The pandemic highlighted the importance of food security, potentially boosting long-term fertilizer demand. Some regions experienced short-term fluctuations in fertilizer prices and availability, but the market has largely shown resilience and adaptation to the new normal.
The granular segment is expected to be the largest during the forecast period
The granular segment is anticipated to dominate the mineral fertilizers market due to its numerous advantages in application and efficiency. Granular fertilizers offer better distribution and coverage, reducing the risk of nutrient loss through runoff or volatilization. They are easier to handle, store, and apply using conventional farm equipment, making them popular among farmers of all scales. Granular formulations allow for the creation of balanced nutrient blends tailored to specific crop needs. Their slow-release properties ensure a steady supply of nutrients throughout the growing season, improving overall crop performance and reducing the need for frequent applications.
The fruits and vegetables segment is expected to have the highest CAGR during the forecast period
The fruits and vegetables segment is projected to experience the highest CAGR in the mineral fertilizers market due to increasing consumer demand for fresh, high-quality produce and the growing trend of health-conscious diets. Fruits and vegetables often require specialized nutrient management to achieve optimal flavor, color, and nutritional content. The expansion of greenhouse and protected cultivation practices for year-round production further drives the demand for precise fertilizer formulations. Additionally, the rising popularity of organic and premium produce encourages farmers to invest in advanced fertilizer solutions to improve crop quality and yield while meeting stringent quality standards.
Region with largest share:
The Asia Pacific region is anticipated to be the largest during the forecast period. The Asia Pacific region's dominance in the mineral fertilizers market is driven by its large agricultural sector, growing population, and increasing food demand. Countries like China and India, with their vast agricultural lands and government initiatives to boost crop productivity, are major consumers of mineral fertilizers. The region's focus on achieving food self-sufficiency and improving agricultural exports further fuels market growth. Additionally, the presence of key fertilizer manufacturers and ongoing agricultural modernization efforts contribute to the region's market leadership.
Region with highest CAGR:
The Asia Pacific region is expected to maintain the highest CAGR in the mineral fertilizers market due to several factors. Rapid population growth and urbanization are increasing pressure on agricultural productivity, driving fertilizer demand. Government subsidies and support for agriculture in countries like India and China encourage fertilizer use. The region's ongoing shift towards more advanced farming techniques and precision agriculture is boosting the adoption of specialized fertilizer products. Additionally, the expansion of commercial farming and export-oriented agriculture in Southeast Asian countries is creating new market opportunities, contributing to the region's high growth rate in the mineral fertilizers sector.
Key players in the market
Some of the key players in Mineral Fertilizers Market include Nutrien Ltd., Yara International ASA, The Mosaic Company, ICL Group Ltd, EuroChem Group AG, Coromandel International Limited, Haifa Group, OCP Group, Sociedad Química y Minera de Chile (SQM), K+S AG, CF Industries Holdings, Inc., PhosAgro, and Sinofert Holdings Limited.
Key Developments:
In June 2024, ICL, a leading global specialty minerals company, today announced the North American launch of a new line of advanced foliar and fertigation solutions under their Nova brand of water-soluble fertilizers. Flagship products include Nova FINISH™, Nova PULSE™, Nova ELEVATE™, and Nova FLOW™.
In June 2024, Coromandel International Limited, India's leading agri solutions provider, unveiled state-of-the-art Nano Fertiliser plant at its Kakinada complex in Andhra Pradesh yesterday. The plant was inaugurated by Sankarasubramanian S, Executive Director, Nutrient Business, in the presence of the company's senior leadership team and key channel partners from across the country. Coromandel's Kakinada unit produces a wide range of NPK grades with annual capacity of 2 million MT of fertilisers and caters to the needs of farming community across India.
In March 2024, EuroChem announces new R&D program to improve fertilizers. The Company announced the launch of a new research program aimed at developing technology for processing complex ores and increasing the recovery of valuable components from phosphate rock. This initiative will increase recovery by 10% and help the Company broaden its resource base. The program will be conducted as part of EuroChem Phosphate University, which was established to develop expertise in phosphate rock, products and processing technologies.
Product Types Covered:
• Nitrogenous Fertilizers
• Phosphatic Fertilizers
• Potassic Fertilizers
• Mixed Fertilizers
Formulations Covered:
• Granular
• Liquid
• Powdered
Crop Types Covered:
• Cereals
• Oilseeds
• Pulses
• Fruits and Vegetables
• Other Crop Types
Usage Purposes Covered:
• Soil Fertility Management
• Plant Nutrition Enhancement
• Yield Improvement
• Stress Tolerance
• Quality Enhancement
End Users Covered:
• Agriculture
• Landscaping and Turf Management
• Home Gardening
• Golf Courses
• Precision Agriculture
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 2022, 2023, 2024, 2026, and 2030
- 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
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 Product Analysis
3.7 End User Analysis
3.8 Emerging Markets
3.9 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 Mineral Fertilizers Market, By Product Type
5.1 Introduction
5.2 Nitrogenous Fertilizers
5.3 Phosphatic Fertilizers
5.4 Potassic Fertilizers
5.5 Mixed Fertilizers
6 Global Mineral Fertilizers Market, By Formulation
6.1 Introduction
6.2 Granular
6.3 Liquid
6.4 Powdered
7 Global Mineral Fertilizers Market, By Crop Type
7.1 Introduction
7.2 Cereals
7.3 Oilseeds
7.4 Pulses
7.5 Fruits and Vegetables
7.6 Other Crop Types
8 Global Mineral Fertilizers Market, By Usage Purpose
8.1 Introduction
8.2 Soil Fertility Management
8.3 Plant Nutrition Enhancement
8.4 Yield Improvement
8.5 Stress Tolerance
8.6 Quality Enhancement
9 Global Mineral Fertilizers Market, By End User
9.1 Introduction
9.2 Agriculture
9.2.1 Crop Farming
9.2.2 Horticulture
9.3 Landscaping and Turf Management
9.4 Home Gardening
9.5 Golf Courses
9.6 Precision Agriculture
10 Global Mineral Fertilizers Market, By Distribution Channel
10.1 Introduction
10.2 Direct Sales
10.3 Distributors and Dealers
10.4 Online Retailers
10.5 Agrochemical Stores
11 Global Mineral Fertilizers Market, By Geography
11.1 Introduction
11.2 North America
11.2.1 US
11.2.2 Canada
11.2.3 Mexico
11.3 Europe
11.3.1 Germany
11.3.2 UK
11.3.3 Italy
11.3.4 France
11.3.5 Spain
11.3.6 Rest of Europe
11.4 Asia Pacific
11.4.1 Japan
11.4.2 China
11.4.3 India
11.4.4 Australia
11.4.5 New Zealand
11.4.6 South Korea
11.4.7 Rest of Asia Pacific
11.5 South America
11.5.1 Argentina
11.5.2 Brazil
11.5.3 Chile
11.5.4 Rest of South America
11.6 Middle East & Africa
11.6.1 Saudi Arabia
11.6.2 UAE
11.6.3 Qatar
11.6.4 South Africa
11.6.5 Rest of Middle East & Africa
12 Key Developments
12.1 Agreements, Partnerships, Collaborations and Joint Ventures
12.2 Acquisitions & Mergers
12.3 New Product Launch
12.4 Expansions
12.5 Other Key Strategies
13 Company Profiling
13.1 Nutrien Ltd.
13.2 Yara International ASA
13.3 The Mosaic Company
13.4 ICL Group Ltd
13.5 EuroChem Group AG
13.6 Coromandel International Limited
13.7 Haifa Group
13.8 OCP Group
13.9 Sociedad Química y Minera de Chile (SQM)
13.10 K+S AG
13.11 CF Industries Holdings, Inc.
13.12 PhosAgro
13.13 Sinofert Holdings Limited
List of Tables
1 Global Mineral Fertilizers Market Outlook, By Region (2022-2030) ($MN)
2 Global Mineral Fertilizers Market Outlook, By Product Type (2022-2030) ($MN)
3 Global Mineral Fertilizers Market Outlook, By Nitrogenous Fertilizers (2022-2030) ($MN)
4 Global Mineral Fertilizers Market Outlook, By Phosphatic Fertilizers (2022-2030) ($MN)
5 Global Mineral Fertilizers Market Outlook, By Potassic Fertilizers (2022-2030) ($MN)
6 Global Mineral Fertilizers Market Outlook, By Mixed Fertilizers (2022-2030) ($MN)
7 Global Mineral Fertilizers Market Outlook, By Formulation (2022-2030) ($MN)
8 Global Mineral Fertilizers Market Outlook, By Granular (2022-2030) ($MN)
9 Global Mineral Fertilizers Market Outlook, By Liquid (2022-2030) ($MN)
10 Global Mineral Fertilizers Market Outlook, By Powdered (2022-2030) ($MN)
11 Global Mineral Fertilizers Market Outlook, By Crop Type (2022-2030) ($MN)
12 Global Mineral Fertilizers Market Outlook, By Cereals (2022-2030) ($MN)
13 Global Mineral Fertilizers Market Outlook, By Oilseeds (2022-2030) ($MN)
14 Global Mineral Fertilizers Market Outlook, By Pulses (2022-2030) ($MN)
15 Global Mineral Fertilizers Market Outlook, By Fruits and Vegetables (2022-2030) ($MN)
16 Global Mineral Fertilizers Market Outlook, By Other Crop Types (2022-2030) ($MN)
17 Global Mineral Fertilizers Market Outlook, By Usage Purpose (2022-2030) ($MN)
18 Global Mineral Fertilizers Market Outlook, By Soil Fertility Management (2022-2030) ($MN)
19 Global Mineral Fertilizers Market Outlook, By Plant Nutrition Enhancement (2022-2030) ($MN)
20 Global Mineral Fertilizers Market Outlook, By Yield Improvement (2022-2030) ($MN)
21 Global Mineral Fertilizers Market Outlook, By Stress Tolerance (2022-2030) ($MN)
22 Global Mineral Fertilizers Market Outlook, By Quality Enhancement (2022-2030) ($MN)
23 Global Mineral Fertilizers Market Outlook, By End User (2022-2030) ($MN)
24 Global Mineral Fertilizers Market Outlook, By Agriculture (2022-2030) ($MN)
25 Global Mineral Fertilizers Market Outlook, By Crop Farming (2022-2030) ($MN)
26 Global Mineral Fertilizers Market Outlook, By Horticulture (2022-2030) ($MN)
27 Global Mineral Fertilizers Market Outlook, By Landscaping and Turf Management (2022-2030) ($MN)
28 Global Mineral Fertilizers Market Outlook, By Home Gardening (2022-2030) ($MN)
29 Global Mineral Fertilizers Market Outlook, By Golf Courses (2022-2030) ($MN)
30 Global Mineral Fertilizers Market Outlook, By Precision Agriculture (2022-2030) ($MN)
31 Global Mineral Fertilizers Market Outlook, By Distribution Channel (2022-2030) ($MN)
32 Global Mineral Fertilizers Market Outlook, By Direct Sales (2022-2030) ($MN)
33 Global Mineral Fertilizers Market Outlook, By Distributors and Dealers (2022-2030) ($MN)
34 Global Mineral Fertilizers Market Outlook, By Online Retailers (2022-2030) ($MN)
35 Global Mineral Fertilizers Market Outlook, By Agrochemical Stores (2022-2030) ($MN)
Note: Tables for North America, Europe, APAC, South America, and Middle East & Africa Regions are also represented in the same manner as above.
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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