PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1520671
PUBLISHER: Bizwit Research & Consulting LLP | PRODUCT CODE: 1520671
Global Sulfur Fertilizers Market is valued approximately at USD 3.93 billion in 2023 and is anticipated to grow with a healthy growth rate of more than 2.32% over the forecast period 2024-2032. Traditional agricultural practices have led to soil degradation over time, resulting in soils deficient in essential minerals required for crop productivity. Sulfur-based fertilizers, which help lower soil pH levels and retain moisture, are becoming increasingly popular to address these deficiencies. Liquid sulfur fertilizers, acting as secondary nutrient liquids, function as fungicides and growth promoters, enhancing crop productivity and reducing sulfur deficiency in both soil and plants.
The market for sulfur fertilizers is driven by the rising awareness of soil nutrient deficiencies and the need for effective crop management solutions. The demand for sulfur-based fertilizers is bolstered by their ability to improve soil conditions and enhance crop yield, particularly in soils with high alkalinity. However, the increasing preference for organic food due to the harmful effects of chemicals in agriculture poses a restraint to market growth. Despite this, the expanding global population and the consequent rise in food demand are expected to drive the need for fertilizers, subsequently fueling the sulfur fertilizers market.
The global sulfur fertilizers market is segmented based on type, type of agriculture, and region. By type, the market is categorized into ammonium sulphate, single superphosphate, sulphate of potash, ammonium nitrate-sulphate, and sulphate containing compound fertilizers. The single superphosphate segment holds the largest market share due to its widespread use in various crops and soil types. The ammonium nitrate-sulphate segment is projected to grow at the highest CAGR during the forecast period.
The key regions considered for the global Sulfur Fertilizers Market study include Asia Pacific, North America, Europe, Latin America, and Rest of the World. Sulfur Fertilizers is a dominating region in the Sulfur Fertilizers Market in terms of revenue. The market growth in the region is being attributed to factors including large population, declining arable lands, and increasing awareness among farmers about the benefits of fertilizers. Whereas, the market in Europe is anticipated to grow at the significant rate over the forecast period fueled by rising demand for food grains and efficient land use further propels the market growth.