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Global Market Insights presents an extensive report on fertilizer market revenue that offers qualitative information about prevailing trends and a detailed analysis of the growth trajectory of this industry. It also includes a study of the historical data and detailed statistics that will help determine the future scope of the industry in terms of commercialization opportunities.
According to Global Market Insights Inc report, the fertilizer market is set to cross USD 240 billion by 2030.
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The continuously expanding human populace and the consequent need for maximized crop yield will significantly influence the fertilizer market development. Soils naturally comprise multiple nutrients, such as nitrogen, calcium, phosphorous, and potassium which allow the plants to grow. However, owing to the deficiency of most other soil nutrients, plants cannot function properly, making way for stunted growth.
In light of this trend, chemical fertilizers have emerged incredibly important to help growers in increasing plant production and maximizing their crop yield on specific pieces of land. Farmers also turn to fertilizers, both organic and synthetic, in agricultural fields for supplementing the required elements that are found naturally in the soil. Hence, to generalize, these substances deliver nutrients that are not available in the soil as well as balance them for enhanced quality and yield of the produce.
The fertilizer market is also likely to witness expansion with the rising government intervention and the increasing number of investments to ramp up the production. For instance, in March 2022, the U.S. Department of Agriculture (USDA) announced a $250 million investment for supporting innovative American-made fertilizers for assisting U.S. farmers in addressing the rising costs.
Enumerated below are a few latest developments that will proliferate the product penetration.
Rising need for organic fertilizers
Organic fertilizers mostly comprise plant and animal-based materials that are byproducts or end products of the naturally occurring processes, like animal manure and composted organic materials. They can also be derived from naturally occurring mineral deposits and organic materials, including bone or plant meal and composted manure. The growth of the organic fertilizer market can be ascribed to growing preference over their synthetic counterparts as they limit the need for the repeated application to maintain soil fertility.
Dry fertilizers to see increased demand
On account of their advantages of delivering nutrition to plants over an extended period, dry fertilizers will call for substantial prominence in the years to come. These fertilizers can dissolve slowly into the soil and are therefore used in large fields for lasting longer. They are generally mixed into the soil before planting and hence save a lot of labor time in the long run. Dry fertilizers are also known to provide all needed nutrients to trees or plants for healthy and strong growth.
Easy application of liquid fertilizers
The liquid fertilizers market is set to witness progression taking note of their growing popularity as they can be ground as well as foliar applied. These fertilizers are accessed in liquid form and are used as mid-season side dress and in-band applications at planting. When foliar-applied, these nutrients help correct mid-season deficiencies and supplement the soil-applied nutrients. Liquid fertilizers can be mixed effortlessly and are generally easy to take in for plants considering their larger contact surface as they are dissolved already.
Wide scope in horticulture
Increasing attention to nutrient management in horticulture will significantly push the development of the fertilizers industry. With the thriving production of vegetable crops, flowers and fruit trees, the application of liquid fertilizers has grown crucially important as it serves both as a fertilizer and water. Also, these days, crop fertilization, especially in the horticultural sector has moved towards precision management systems for enhancing crop quality, and environmental as well as economical sustainability.
In a nutshell, the globally rising food demand, and the growing consumer emphasis on staying healthy and acquiring essential nutrients from multiple different food sources will further drive the need for fertilizers. The thriving obligation for micronutrients for supporting the growth, development, and overall health of plants in fields will also anchor the market expansion.
Report Content
Chapter 1 Fertilizer Market, By Application
1 Global fertilizer market share by application insights
2 Agriculture
2.1 Market estimates and forecast, 2018 – 2030, (Kilo ton product) (USD Million)
3 Horticulture
3.1 Market estimates and forecast, 2018 – 2030, (Kilo ton product) (USD Million)
4 Gardening
4.1 Market estimates and forecast, 2018 – 2030, (Kilo ton product) (USD Million)
5 Others
5.1 Market estimates and forecast, 2018 – 2030, (Kilo ton product) (USD Million)
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About Global Market Insights
Global Market Insights Inc., headquartered in Delaware, U.S., is a global market research and consulting service provider, offering syndicated and custom research reports along with growth consulting services. Our business intelligence and industry research reports offer clients with penetrative insights and actionable market data specially designed and presented to aid strategic decision making. These exhaustive reports are designed via a proprietary research methodology and are available for key industries such as chemicals, advanced materials, technology, renewable energy, and biotechnology.
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