Mineral Fertilizers Market Forecasts to 2030 - Global Analysis By Product Type, Formulation, Crop Type, Usage Purpose, End User, Distribution Channel and Geography

According to Stratistics MRC, the Global Mineral Fertilizers Market is accounted for $116.27 billion in 2024 and is expected to reach $163.07 billion by 2030, growing at a CAGR of 5.8% during the forecast period. Mineral fertilizers are chemical compounds used to enhance soil fertility and promote plant growth. They provide essential nutrients such as nitrogen, phosphorus, and potassium, which are critical for plant development and yield. Unlike organic fertilizers, mineral fertilizers are synthesized from minerals and are highly concentrated, allowing for precise nutrient management. They are widely used in agriculture to improve crop productivity, support plant health, and optimize soil nutrients levels.

According to the International Fertilizer Association (IFA), Global fertilizer production in 2019 was approximately 252 million tonnes of nutrients.

Market Dynamics:

Driver:

Increased agricultural productivity

Mineral fertilizers play a crucial role in enhancing crop yields by providing essential nutrients to plants. These fertilizers help farmers maximize their output from limited arable land, addressing food security concerns. The ability of mineral fertilizers to improve crop quality and quantity, even in less fertile soils, makes them indispensable in modern agriculture. As countries strive to achieve food self-sufficiency and boost agricultural exports, the demand for mineral fertilizers continues to rise, driving market growth.

Restraint:

Soil health concerns

Overuse can result in soil acidification, nutrient imbalances, and reduced microbial activity, potentially decreasing long-term soil fertility. Environmental concerns such as nutrient runoff and water pollution also contribute to this restraint. As awareness of sustainable agriculture practices grows, some farmers are seeking alternatives or reducing their reliance on mineral fertilizers. This shift towards more balanced nutrient management and organic farming methods challenges the mineral fertilizer market to adapt and address these concerns through improved formulations and application techniques.

Opportunity:

Integration with precision agriculture

Precision agriculture uses data-driven approaches to optimize fertilizer application, ensuring that crops receive the right nutrients at the right time and in the right quantities. This integration can lead to more efficient use of mineral fertilizers, reducing waste and environmental impact while improving crop yields. Smart farming technologies, such as GPS-guided application systems and soil sensors, enable farmers to tailor fertilizer use to specific field conditions. This opportunity allows mineral fertilizer manufacturers to develop specialized products and services that complement precision agriculture practices, potentially expanding their market reach.

Threat:

Climate change

Extreme weather events, changing precipitation patterns, and rising temperatures can affect crop growth and soil conditions, potentially altering fertilizer requirements and efficacy. Prolonged droughts or floods may reduce fertilizer demand in affected regions. Additionally, climate change mitigation efforts and stricter environmental regulations could lead to restrictions on fertilizer use or shifts towards more sustainable alternatives. The unpredictability of climate impacts challenges the industry to develop more resilient and adaptable fertilizer solutions.

Covid-19 Impact:

The COVID-19 pandemic initially disrupted the mineral fertilizers market through supply chain interruptions and logistical challenges. However, the agricultural sector's essential nature ensured continued demand. The pandemic highlighted the importance of food security, potentially boosting long-term fertilizer demand. Some regions experienced short-term fluctuations in fertilizer prices and availability, but the market has largely shown resilience and adaptation to the new normal.

The granular segment is expected to be the largest during the forecast period

The granular segment is anticipated to dominate the mineral fertilizers market due to its numerous advantages in application and efficiency. Granular fertilizers offer better distribution and coverage, reducing the risk of nutrient loss through runoff or volatilization. They are easier to handle, store, and apply using conventional farm equipment, making them popular among farmers of all scales. Granular formulations allow for the creation of balanced nutrient blends tailored to specific crop needs. Their slow-release properties ensure a steady supply of nutrients throughout the growing season, improving overall crop performance and reducing the need for frequent applications.

The fruits and vegetables segment is expected to have the highest CAGR during the forecast period

The fruits and vegetables segment is projected to experience the highest CAGR in the mineral fertilizers market due to increasing consumer demand for fresh, high-quality produce and the growing trend of health-conscious diets. Fruits and vegetables often require specialized nutrient management to achieve optimal flavor, color, and nutritional content. The expansion of greenhouse and protected cultivation practices for year-round production further drives the demand for precise fertilizer formulations. Additionally, the rising popularity of organic and premium produce encourages farmers to invest in advanced fertilizer solutions to improve crop quality and yield while meeting stringent quality standards.

Region with largest share:

The Asia Pacific region is anticipated to be the largest during the forecast period. The Asia Pacific region's dominance in the mineral fertilizers market is driven by its large agricultural sector, growing population, and increasing food demand. Countries like China and India, with their vast agricultural lands and government initiatives to boost crop productivity, are major consumers of mineral fertilizers. The region's focus on achieving food self-sufficiency and improving agricultural exports further fuels market growth. Additionally, the presence of key fertilizer manufacturers and ongoing agricultural modernization efforts contribute to the region's market leadership.

Region with highest CAGR:

The Asia Pacific region is expected to maintain the highest CAGR in the mineral fertilizers market due to several factors. Rapid population growth and urbanization are increasing pressure on agricultural productivity, driving fertilizer demand. Government subsidies and support for agriculture in countries like India and China encourage fertilizer use. The region's ongoing shift towards more advanced farming techniques and precision agriculture is boosting the adoption of specialized fertilizer products. Additionally, the expansion of commercial farming and export-oriented agriculture in Southeast Asian countries is creating new market opportunities, contributing to the region's high growth rate in the mineral fertilizers sector.

Key players in the market

Some of the key players in Mineral Fertilizers Market include Nutrien Ltd., Yara International ASA, The Mosaic Company, ICL Group Ltd, EuroChem Group AG, Coromandel International Limited, Haifa Group, OCP Group, Sociedad Quimica y Minera de Chile (SQM), K+S AG, CF Industries Holdings, Inc., PhosAgro, and Sinofert Holdings Limited.

Key Developments:

In June 2024, ICL, a leading global specialty minerals company, today announced the North American launch of a new line of advanced foliar and fertigation solutions under their Nova brand of water-soluble fertilizers. Flagship products include Nova FINISH(TM), Nova PULSE(TM), Nova ELEVATE(TM), and Nova FLOW(TM).

In June 2024, Coromandel International Limited, India's leading agri solutions provider, unveiled state-of-the-art Nano Fertiliser plant at its Kakinada complex in Andhra Pradesh yesterday. The plant was inaugurated by Sankarasubramanian S, Executive Director, Nutrient Business, in the presence of the company's senior leadership team and key channel partners from across the country. Coromandel's Kakinada unit produces a wide range of NPK grades with annual capacity of 2 million MT of fertilisers and caters to the needs of farming community across India.

In March 2024, EuroChem announces new R&D program to improve fertilizers. The Company announced the launch of a new research program aimed at developing technology for processing comple--x ores and increasing the recovery of valuable components from phosphate rock. This initiative will increase recovery by 10% and help the Company broaden its resource base. The program will be conducted as part of EuroChem Phosphate University, which was established to develop expertise in phosphate rock, products and processing technologies.

Product Types Covered:

• Nitrogenous Fertilizers
• Phosphatic Fertilizers
• Potassic Fertilizers
• Mixed Fertilizers

Formulations Covered:

• Granular
• Liquid
• Powdered

Crop Types Covered:

• Cereals
• Oilseeds
• Pulses
• Fruits and Vegetables
• Other Crop Types

Usage Purposes Covered:

• Soil Fertility Management
• Plant Nutrition Enhancement
• Yield Improvement
• Stress Tolerance
• Quality Enhancement

End Users Covered:

• Agriculture
• Landscaping and Turf Management
• Home Gardening
• Golf Courses
• Precision Agriculture

Regions Covered:

• North America
  • US
  • Canada
  • Mexico
• Europe
  • Germany
  • UK
  • Italy
  • France
  • Spain
  • Rest of Europe
• Asia Pacific
  • Japan
  • China
  • India
  • Australia
  • New Zealand
  • South Korea
  • Rest of Asia Pacific
• South America
  • Argentina
  • Brazil
  • Chile
  • Rest of South America
• Middle East & Africa
  • Saudi Arabia
  • UAE
  • Qatar
  • South Africa
  • Rest of Middle East & Africa

What our report offers:

• Market share assessments for the regional and country-level segments
• Strategic recommendations for the new entrants
• Covers Market data for the years 2022, 2023, 2024, 2026, and 2030
• Market Trends (Drivers, Constraints, Opportunities, Threats, Challenges, Investment Opportunities, and recommendations)
• Strategic recommendations in key business segments based on the market estimations
• Competitive landscaping mapping the key common trends
• Company profiling with detailed strategies, financials, and recent developments
• Supply chain trends mapping the latest technological advancements

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• Company Profiling
  • Comprehensive profiling of additional market players (up to 3)
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• Regional Segmentation
  • Market estimations, Forecasts and CAGR of any prominent country as per the client's interest (Note: Depends on feasibility check)
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