Nano Fertilizer Market to Reach USD 12.0 billion by 2032 Driven by Growing Demand for High-Yield Agricultural Produce Due to The Increasing Population

Rising Demand for Sustainable Agriculture and Enhanced Crop Yields Drives the Nano Fertilizer Market Forward

Austin, Aug. 29, 2024 (GLOBE NEWSWIRE) — According to the SNS Insider report, The Nano Fertilizer Market Size was valued at USD 3.6 billion in 2023, and is expected to reach USD 12.0 billion by 2032, and grow at a CAGR of 14.5% over the forecast period 2024-2032.

The Nano Fertilizers market keeps on growing with the continually growing demand for land improvement in agriculture with least environmental degradation. Many leading companies, such as IFFCO and Coromandel International, are pioneering this transformation through increased awareness campaigns to usher in nano fertilizers so that conventional chemical fertilizers become obsolete. For example, the national campaign launched by IFFCO in 2023 aimed to improve the awareness and penetration of nano fertilizers across India to keep up with sustainability trends around the world. Similarly, Coromandel International, with its new nano-fertilizer plant in Kakinada, India, typifies rising investment in nano-technology solutions to improve yields to meet increasing demand for food and further advances efficiency in nutrient use along with cost economies for farmers.

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Globally, nano fertilizers are gaining rapid traction because these can improve nutrient delivery, soil health, and also resistance to pests and diseases. Many European countries have started adopting nano fertilizers through a set of pilots in 2023, which are proving their effectiveness. The growing need for environmentally friendly agricultural solutions and sustainable farming policies from the government are driving this increase. Nano fertilizers are more effectively utilized by plants, leading to decreased waste, making them a crucial element in contemporary farming practices. More and more companies are joining in to invest in R&D to customize these fertilizers according to the needs of each crop to leave their mark in the future of global agriculture.

Nano Fertilizer Market Report Scope:

Report Attributes	Details
Market Size in 2023	US$ 3.6 Billion
Market Size by 2032	US$ 12.0 Billion
CAGR	CAGR of 14.5% From 2024 to 2032
Base Year	2023
Forecast Period	2024-2032
Historical Data	2020-2022
Report Scope & Coverage	Market Size, Segments Analysis, Competitive  Landscape, Regional Analysis, DROC & SWOT Analysis, Forecast Outlook
Key Segments	•By Category (Nanoscale Fertilizer, Nanoscale Additive Fertilizer, Nanoscale Coating Fertilizer) •By Raw Material (Nitrogen, Carbon, Zinc, Silver, Aluminium, Others) •By Mode of Application (Spray or Foliar, Soaking Method, Soil) •By Crop Type (Cereals & Grains, Fruits & Vegetables, Oilseeds & Pulses, Others)
Regional Analysis/Coverage	North America (US, Canada, Mexico), Europe (Eastern Europe [Poland, Romania, Hungary, Turkey, Rest of Eastern Europe] Western Europe] Germany, France, UK, Italy, Spain, Netherlands, Switzerland, Austria, Rest of Western Europe]), Asia Pacific (China, India, Japan, South Korea, Vietnam, Singapore, Australia, Rest of Asia Pacific), Middle East & Africa (Middle East [UAE, Egypt, Saudi Arabia, Qatar, Rest of Middle East], Africa [Nigeria, South Africa, Rest of Africa], Latin America (Brazil, Argentina, Colombia, Rest of Latin America)
Company Profiles	JU Agri Sciences Pvt. Ltd.,Indian Farmers Fertiliser Co. Ltd., Lazuriton Nano Biotechnology Co. Ltd., Geolife Group, s.r.o., Shan Maw Myae Trading Co. Ltd., Fanavar Nano-Pazhoohesh Markazi Company, Tropical Agrosystem India (P) Ltd., EuroChem, AG CHEMI Group, s.r.o. and other key players
Key Drivers	• Increasing demand for sustainable agriculture • Advancements in nanotechnology • Government support and initiatives

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Segment Analysis

In 2023, the Nitrogen-based nano fertilizers dominated the market with a revenue share of about 45% in the Nano Fertilizer Market. This results from the extensive use of nitrogen fertilizers in agriculture worldwide, as nitrogen is an essential element required for plant development. The nano nitrogen fertilizer is highly valued for its increased effectiveness, improved nutrient uptake, and reduced environmental harm compared to conventional/natural nitrogen fertilizers. As an example, IFFCO introduced nano urea, a nitrogen-based nano fertilizer, to Indian farmers; it gained popularity for increasing crop production and decreasing reliance on conventional chemical fertilizers. The trend therefore represents an increasing usage of nitrogen-based nano fertilizers for improved agricultural productivity.

Budget 2024: Government Considered Maintaining Fertilizer Subsidy to Bolster Agriculture and Reduce Import Dependence

The Indian government is said to have weighed the fertilizer subsidy at ₹1.64 lakh crore for the fiscal year 2025, ahead of the 2024 Budget. Concomitantly, such commitment reportedly pitted the government to provide more support to farmers and ensure fertilizers remained fairly cheap as their global prices go up and down. Experts said the decision on the subsidy’s continuity was to give less financial burden to farmers for encouraging them to use fertilizers to get better yields of their crops. Besides, analysts said the government was also keen to reduce dependence on imported fertilizers through financial incentives to motivate domestic fertilizer production. These steps, many market observers had hoped, would stabilize the industry, ensure more sustainable farming, and insulate India’s agricultural inputs from erratic international markets.

Recent Developments

July 2024: IFFCO introduced a scheme to promote nano fertilizers, providing a 25% discount and funding for drone spraying in 200 village clusters. The goal was to enhance the quality and quantity of crop production.

June 2024: Coromandel International Limited unveiled a nano fertilizer factory at its Kakinada site, with Mr. Sankarasubramanian S presiding over the inauguration, in the presence of senior executives and channel partners.

Regional Analysis

The North American region dominated the Nano Fertilizer Market and accounted for about a share of 35% in 2024, owing to the higher emphasis of the region on sustainable agriculture methods along with early adoption of advanced agricultural technologies. It is expected that nano fertilizers would be major growth frontiers, considering growing government support in the United States with subsidies for eco-friendly farming practices. For instance, in 2023 alone, the United States Department of Agriculture started financing a grant program aimed at assisting farmers in transitioning to nano fertilizers, thus showing just how much the US government is committed to minimizing the environmental footprint caused by agriculture.

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Key Takeaways:

• The growing demand for sustainable agriculture and higher yields of crops has been driving the market for nano fertilizer.
• North America led the market with around 35% revenue share, driven by early adoption and backing from the government.
• Companies are concentrating on research and development in order to enhance the effectiveness and environmental friendliness of nano fertilizers.

Table of Contents – Major Key Points

1. Introduction

1.1 Market Definition

1.2 Scope (Inclusion and Exclusions)

1.3 Research Assumptions

2. Executive Summary

2.1 Market Overview

2.2 Regional Synopsis

2.3 Competitive Summary

3. Research Methodology

3.1 Top-Down Approach

3.2 Bottom-up Approach

3.3. Data Validation

3.4 Primary Interviews

4. Market Dynamics Impact Analysis

4.1 Market Driving Factors Analysis

4.1.1 Drivers

4.1.2 Restraints

4.1.3 Opportunities

4.1.4 Challenges

4.2 PESTLE Analysis

4.3 Porter’s Five Forces Model

5. Statistical Insights and Trends Reporting

5.1 Production Capacity and Utilization, by Country, by Region, 2023

5.2 Feedstock Prices, by Country, by Region, 2023

5.3 Regulatory Impact, by Country, by Region, 2023

5.4 Environmental Metrics: Emissions Data, Waste Management Practices, and Sustainability Initiatives, by Region

5.5 Innovation and R&D, by Region, 2023

6. Competitive Landscape

7. Nano Fertilizer Market Segmentation, by Category

8. Nano Fertilizer Market Segmentation, by Raw Crop Type

9. Nano Fertilizer Market Segmentation, by Mode of Application

10. Nano Fertilizer Market Segmentation, by Crop Type

11. Regional Analysis

12. Company Profiles

13. Use Cases and Best Practices

14. Conclusion

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