Nano Fertilizers Market: Current Analysis and Forecast (2022-2028)

Nano fertilizers are a type of fertilizer that is designed to deliver nutrients to plants in a more targeted and controlled manner compared to traditional fertilizers. Nano fertilizers work by releasing the nutrients they contain slowly over time, allowing plants to absorb them more efficiently. The nanoparticles also help to protect the nutrients from leaching and other forms of loss, which can reduce the amount of fertilizer needed and minimize the environmental impact of agriculture. In addition to delivering nutrients, some types of nano fertilizers also have other beneficial properties. For example, they may help to improve soil structure, enhance plant resistance to pests and diseases, and increase water retention.

The nano fertilizers market is expected to grow at a steady rate of around 15% owing to the growing demand for food and growing awareness of the need to protect the environment and reduce the carbon footprint of agriculture. The increasing demand for food due to the growing global population, the need to increase agricultural productivity, and the growing trend towards sustainable agriculture practices are some of the key factors driving the growth of the nano fertilizer market. For instance, according to the Food and Agriculture Organization of the United Nation (FAO), the global population is estimated to reach 9.7 billion by 2050.

Based on raw material, the market is segmented into nitrogen, silver, carbon, zinc, and others. Among them, the carbon category is to witness higher CAGR during the forecast period owing to their stable molecular arrangement, nontoxicity, and uniform distribution which makes them great fertilizer carriers. Moreover, they are utilized as light converters to support plants' photosynthesis. These factors will boost the growth of this segment.

On the basis of method of application, the market is categorized into Spray or Foliar and Soil. Among these, the spray or foliar category is to witness a considerable CAGR during the forecast period. This is mainly due to the growing population and rising demand for food globally. Moreover, foliar feeding is used for achieving the best crop results with ecological protection.

Based on application, the nano fertilizers market has been classified into cereals & grains, oilseeds & pulses, fruits & vegetables, and others. The military and defense category is to witness higher adoption of nano fertilizers during the forecast period. This is mainly ascribed as cereals and grains are the largest consumed class of crops. Moreover, cereals and grains cover a vast area of cultivation in the world. It has become prominent to use fertilizer for cereals and grains production. Further, the increasing consumption of cereals and grains, such as rice, wheat, rye, corn, oats, sorghum, and barley, across the globe is driving the demand for nano fertilizers in this segment.

For a better understanding of the market adoption of the nano fertilizers industry, the market is analyzed based on its worldwide presence in the countries such as North America (U.S., Canada, Rest of North America), Europe (Germany, U.K., France, Spain, Italy, Rest of Europe), Asia-Pacific (China, Japan, India, Rest of Asia-Pacific), Rest of World. North America is anticipated to grow at a substantial CAGR during the forecast period. This is mainly due to the rising demand for high-yield crops in nations like the U.S., Canada, and Mexico, where total agricultural exports from the U.S. in 2020 were around 146 USD billion, the second-highest level ever and an increase of about 7 percent from 2019. As a result, nations like the U.S. have switched from using conventional fertilizers to nano fertilizers in order to enhance crop productivity. Its ability to effectively feed nutrients to the crops continues to be the foundation of its development.

Some of the major players operating in the market include: Indogulf BioAg LLC; Silvertech Kimya Sanayi ve Ticaret Ltd. Sti.; JU; AG CHEMI GROUP s.r.o.; Geolife Group; Shan Maw Myae Co., Ltd.; EuroChem Group; Tropical Agro; IFFCO; AGRICULTURE SOLUTIONS INC.