Global Fertilizer Market Expected to Surpass $251.57 Billion and Grow at 3.55% CAGR in the 2022-2030 Timeframe [240-Pages] | Issued by Research Dive

According to the report, the global fertilizer market is predicted to register a revenue of $251.57 billion by 2030, growing at a healthy CAGR of 3.55% during the forecast period 2022-2030.

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Dynamics of the Fertilizer Market:

Drivers: Increase in demand for food grain production is predicted to become the primary growth driver of the market in the forecast years. Along with this, the increasing adoption of organic fertilizers in order to engage in sustainable agricultural practices is expected to help the fertilizer market grow in the forecast timeframe.

Opportunities: Over the years, there is a growth in demand for fertilizers especially from the agriculture sector which is anticipated to offer numerous growth opportunities to the market. Apart from this, government initiatives in order to promote the use of organic fertilizers is expected to boost the market further.

Restraints: According to market analysts, the uncontrolled use of fertilizers, however, is expected to create hindrances in the growth trajectory of the market.

Covid-19 Impact on the Fertilizer Market:

Since the outbreak of Covid-19 pandemic, strict lockdowns and travel restrictions were put in place by various governments across the world. This negatively impacted several industries and businesses causing disruptions in supply chains and manufacturing processes. The fertilizer market faced a similar situation during the pandemic. The disruption in steady supply of raw materials and restrictions on import-export activities of manufactured products have severely impacted the market. However, government initiatives to bring the economy back on track is expected to help the market grow in the post-pandemic years.

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Segments of the Fertilizer Market:

The report has fragmented the global fertilizer market into a few segments based on type, form, application, and regional analysis.

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Prominent Fertilizer Market Players:

Some prominent market players are

These players are building several strategies like product development and enhancement, merger and acquisition, partnerships and collaborations to assist the market growth.

For example, in June 2021, Competition Commission of India, a statutory authority under the ambit of Ministry of Corporate Affairs in Govt. of India, gave the go-ahead to Paradeep Phosphates Ltd. to acquire Zuari Agro Chemicals Limited's fertilizer manufacturing plant at Zuarinagar. The acquisition will help Paradeep Phosphates Limited to expand its market share by capitalizing on its newly acquired infrastructure.

The report also sums up various crucial facets including financial performance of the fertilizer market players, SWOT analysis, product portfolio, and the latest strategic developments.

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About Research Dive

Research Dive is a market research firm based in Pune, India. Maintaining the integrity and authenticity of the services, the firm provides the services that are solely based on its exclusive data model, compelled by the 360-degree research methodology, which guarantees comprehensive and accurate analysis. With an unprecedented access to several paid data resources, team of expert researchers, and strict work ethic, the firm offers insights that are extremely precise and reliable. Scrutinizing relevant news releases, government publications, decades of trade data, and technical & white papers, Research dive deliver the required services to its clients well within the required timeframe. Its expertise is focused on examining niche markets, targeting its major driving factors, and spotting threatening hindrances. Complementarily, it also has a seamless collaboration with the major industry aficionado that further offers its research an edge.

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