Nitrogenous Fertilizer Market to Reach $115.27 Billion, Globally, by 2033 at 5.62% CAGR: The Brainy Insights

The nitrogenous fertilizer market size is anticipated to grow from USD 66.72 Billion in 2023 to USD 115.27 Billion in 10 years. The market is expanding due to the increasing demand for nitrogenous fertilizer for development of several crops. Further, the expanding population leads to a rise in food production, which is, in turn, increasing the demand for nitrogenous fertilizers.

Newark, June 05, 2024 (GLOBE NEWSWIRE) — The Brainy Insights estimates that the nitrogenous fertilizer market will grow from USD 66.72 Billion in 2023 to USD 115.27 Billion by 2033. The market for nitrogenous fertilizers is expected to rise due to farmers’ growing understanding of soil profile and nutritional balance, the rising acceptance of commercial agriculture globally, low-cost fertilizer manufacture, and rising demand for agrochemicals.

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Key Insight of the Nitrogenous Fertilizer Market

Asia-Pacific region will account for the largest market size during the forecast period.

Asia-Pacific region will hold a significant market share due to the rapid growth of the end-user industries. China and India, two of the region’s rising economies, have huge agricultural bases that provide lucrative opportunities to manufacturers and suppliers of nitrogenous fertilizers. The government is establishing several manufacturing units of nitrogenous manufacturers to increase output production. Soybean, barley, millets, rice, wheat, etc. are key crops cultivated in India, China and Japan.

The ammonium nitrate segment is expected to augment the market during the forecast period.

The product type segment is divided into ammonium sulfate, ammonium nitrate, urea, calcium ammonium nitrate and others. The ammonium nitrate segment is expected to augment the market during the forecast period. Ammonium nitrate, chemically represented as NH4NO3, is a crystalline and white salt. It is composed of nitrate and ammonium ions and has a high solubility in water. About 33.5% of it is nitrogen, all of which are in forms that are useful to plants.

The fruits and vegetables segment is expected to augment the market during the forecast period.

The crop type segment is divided into fruits and vegetables, oilseeds and pulses, cereals and grains and others. The fruits and vegetables segment is expected to augment the market during the forecast period. Many fertilizers have labels designed for particular uses, such as growing vegetables and fruits. When fertigated, most plants respond fast to nitrogen modifications because the nitrogen is easily available in liquid form.

Report Coverage Details

Report Coverage Details
Forecast Period 2024–2033
Base Year 2023
Market Size in 2023 USD 66.72 Billion
Market Size in 2033 USD 115.27 Billion
CAGR 5.62%
No. of Pages in Report 239
Segments Covered Product Type, Crop Type and Regions
Drivers Wide applications:
Opportunities Increasing investment in the agriculture industry

Market Dynamics

Driver: Rising demand for crop production

The need for agricultural products such as feed and food is rising quickly globally. For many years, there has been a growing need for plant materials. Crop production has increased globally by more than 250% since the early 1960s. Fertilizer containing nitrogen has a variety of effects on crop growth. It promotes the growth of foliage and gives plants a green hue. When it comes to cereals, it usually results in lumpy seeds and succulence, or tenderness, in the plant. Nitrogenous fertilizer is typically sprayed in huge amounts to boost crop productivity worldwide. In many developing nations, applying nitrogen fertilizers has raised crop yields and made food production self-sufficient.

Restraint: Excessive quantity harms crops

Nitrogen can be detrimental to crops if applied in excess since it can make them more resistant to disease and degrade their quality. It could weaken the stems and make cereals lodge. Overdosing on nitrogen fertilizer often results in luxuriant growth, which attracts insects and pathogens. In addition to weakening the stem, excessive growth can cause lodging during blooming and grain filling.

Opportunity: Investment programs in the fertilizer industry

Most global fertilizer consumption predictions indicate that demand for fertilizers will continue to rise rapidly. The development of the global fertilizer business is receiving substantial funding from governments of many regions. Significant investments in additional manufacturing capacity are being made to fulfil such elevated levels of demand. To replace or alter the conventional fertilizer formulas, the manufacturers in the fertilizer industry are becoming inventive and competitive in the testing, development, and production of superior fertilizer blends, compounds, and organo-mineral products at various production scales.

Challenges: Environmental impact

In regions with heavy rainfalls, the most commonly used nitrogenous fertilizers are expected to seep into groundwater and streams, posing a serious risk to the environment and the economy. Excessive application of nitrogen fertilizers may result in acidity of the soil. Nitrogen-tolerant species proliferate and displace more delicate natural plants and fungi due to nitrogen pollution. Plant health is harmed, and wildlife variety is decreased as a result.

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Some of the major players operating in the Nitrogenous Fertilizer market are:

• Aquasol Nutri
• CF Industries Holdings Inc.
• Bunge Ltd.
• Coromandal International Limited
• Haifa Group
• Eurochem Group AG
• Hellagrolip SA
• Koch Fertilizer, LLC
• ICL Fertilizers
• Kynoch Fertilizer
• Nutrien Ltd.
• Notore Chemical Industries Plc
• OCI Nitrogen
• Rolfes Agri Ltd.
• Omnia Holdings Limited
• Sasol
• TriomfSA
• Sorfertp
• Yara

Key Segments Cover in the Market:

By Product Type:

• Ammonium Sulfate
• Ammonium Nitrate
• Urea
• Calcium Ammonium Nitrate
• Others

By Crop Type:

• Vegetables
• Oilseeds and Pulses
• Cereals and Grains
• Others

By Region

• North America (U.S., Canada, Mexico)
• Europe (Germany, France, the U.K., Italy, Spain, Rest of Europe)
• Asia-Pacific (China, Japan, India, Rest of APAC)
• South America (Brazil and the Rest of South America)
• The Middle East and Africa (UAE, South Africa, Rest of MEA)

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About the report:

The market is analyzed on value (USD Billion). All the segments have been analyzed on a global, regional, and country basis. The study includes the analysis of more than 30 countries for each part. The report analyses factors, opportunities, restraints, and challenges to gain critical market insight. The study includes Porter’s five forces model, attractiveness analysis, product analysis, supply and demand analysis, competitor position grid analysis, distribution, and marketing channels analysis.

About The Brainy Insights:

The Brainy Insights is a market research company, aimed at providing actionable insights through data analytics to companies to improve their business acumen. We have a robust forecasting and estimation model to meet the clients’ objectives of high-quality output within a short span of time. We provide both customized (clients’ specific) and syndicate reports. Our repository of syndicate reports is diverse across all the categories and sub-categories across domains. Our customized solutions are tailored to meet the clients’ requirements whether they are looking to expand or planning to launch a new product in the global market.

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