PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1255263
PUBLISHER: SPER Market Research Pvt. Ltd. | PRODUCT CODE: 1255263
According to SPER Market Research, the Global Nano Fertilizer Market is estimated to reach USD 12.62 billion by 2032 with a CAGR of 15.05%.
Nano fertilisers are a new type of fertiliser that uses nanotechnology to improve the efficiency and effectiveness of traditional fertilisers. These fertilisers are intended to improve nutrient absorption, crop yield, and reduce pollution. The global nano fertiliser market is still in its infancy, but it is expected to expand rapidly in the coming years. The increasing demand for food due to the growing population, the need for sustainable agriculture practises, and the benefits of nano fertilisers over traditional fertilisers are driving the growth of the nano fertiliser market. Nano fertilisers have several advantages over traditional fertilisers, including increased nutrient uptake, lower fertiliser application rates, and higher crop yields. They also reduce nutrient leaching and pollution in the environment.
Even though the global nano fertiliser market has significant growth potential, it is also confronted with a number of challenges that may delay or prevent its growth in the coming years. Among the major challenges confronting the global nano fertiliser market include high cost of production and the use of advanced technology, lack of awareness among farmers about benefits of using nano fertilizers, absence of any clear regulatory guidelines for the use of nano fertilizers, lack of clarity on the environmental impact of nano fertilizers particularly on soil health and water quality and nano fertilizers are not widely available in the market and there are only a few manufacturers and suppliers.
The COVID-19 pandemic had a wide variety of effects on the global nano fertilizer market. For starters, the pandemic has disrupted global supply chains, making it difficult for manufacturers to obtain the raw materials needed to produce nano fertilizers. As a result, there have been production and delivery delays, as well as increased costs for manufacturers. Second, the pandemic has had a significant impact on the agriculture industry, with many farmers experiencing reduced income and financial constraints as a result of the disease. As a result, demand for nano fertilizers has decreased, as farmers may opt for cheaper, traditional fertilizers or reduce their fertilizer usage. However, the pandemic's long-term impact on the global nano fertilizer market has yet to be determined, as the situation continues to evolve.