Global Nitrogenous Fertilizer market report 2024, Forecast To 2033
7 Feb, 2024
The nitrogenous fertilizer market has demonstrated robust growth, increasing from $73.41 billion in 2023 to $79.16 billion in 2024, with a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period is attributed to factors such as population growth, expansion in the agricultural sector, the mechanization of farming practices, government subsidies, and overall economic growth. Expecting sustained robust growth in the next few years, the market is anticipated to reach $109.37 billion in 2028, reflecting a CAGR of 8.4%. The projected growth is driven by factors such as the rise in global food security concerns, increasing adoption of precision agriculture practices, the promotion of crop rotation, and infrastructure development. Key trends in the forecast period include the development of customized fertilizer blends, initiatives in carbon sequestration, advancements in nutrient management techniques, and the increasing popularity of organic and natural fertilizers.
Global Nitrogenous Fertilizer Market Key Driver
The nitrogenous fertilizers market is expected to witness growth due to the increasing demand for fertilizers globally. Fertilizers play a crucial role in enhancing soil fertility and replenishing nutrients. The United Nations Environment Program projected a 4.1% increase in global pesticide and fertilizer sales to reach USD 309 billion by 2025. This rising demand for fertilizers supports the nitrogenous fertilizers market in 2023, 2024, and 2028.
Get A Free Sample Of The Global Nitrogenous Fertilizer Market ReportGlobal Nitrogenous Fertilizer Market Segments
The global nitrogenous fertilizer market market covered in this report is segmented –
1) By Type: Urea, Ammonium Nitrate, Ammonium Sulfate, Calcium ammonium nitrate (CAN), Others Types
2) By Crop Type: Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Others Crops
3) By Form: Dry, Liquid
4) By Application: Soil, Foliar, Fertigation, Other Applications
By Geography: The regions covered in the Nitrogenous Fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe,North America, South America, Middle East, and Africa.
Asia-Pacificwas the largest region in the nitrogenous fertilizers market in 2023, and it is expected to be the fastest-growing region in the forecast period. The regions covered in the nitrogenous fertilizer market market report include Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East and Africa.
Major Nitrogenous Fertilizer Industry Players
Sorfert Algeria Spa, OCI NV, Nutrien Ltd., Yara Fertilisers India Pvt Ltd., Central Farmers Fertilizer Company, Compo Expert Gmbh, Coromandel International Ltd., EuroChem Group AG, Indian Farmers Fertilizer Cooperative Ltd., Koch Industries Inc., Saudi Basic Industries Corp, Wilbur-Ellis LLC, Terra Nitrogen Company L.P., LSB Industries Inc., Shandong Hualu Hengsheng Chemical Co Ltd., Agrium Inc., Potash Corporation of Saskatchewan Inc., AgroLiquid, Agrofert Holding AS, Bunge Ltd., Fertiberia Sociedad Anonima, Haifa Chemicals Ltd., Israel Chemicals Ltd., Kali und Salz GmbH, The Mosaic Company, PhosAgro, Sinochem Hong Kong Holdings Ltd.
Get The Full Global Nitrogenous Fertilizer Market Report
Nitrogenous Fertilizer Market Overview
Nitrogenous fertilizer refer to mineral and organic substances utilized as a source of nitrogen nutrition for plants. It comprises a chemical composition in which nitrogen makes up a higher percentage than any other nutrient. Nitrogen is present in fertilizers frequently used in crop production as nitrate, ammonia, ammonium, or urea.
Nitrogenous Fertilizer Global Market Report 2023 provides data on the global nitrogenous fertilizer market such as market size, growth forecasts, segments and geographies, competitive landscape including leading competitors’ revenues, profiles and market shares. The nitrogenous fertilizer market report identifies opportunities and strategies based on market trends and leading competitors’ approaches.