FERTILIZERS MARKET - SIZE, SHARE, COVID-19 IMPACT & FORECASTS UP TO 2028

The market for fertilisers is anticipated to grow at a CAGR of 5.83%.  Field crops led the global fertilisers market in 2021, accounting for 82.1% of the market's total value, or over USD 157.14 billion. Over 95.0% of all agricultural land in the world is used for field crop cultivation, making it the most common type of production. The three main field crops grown worldwide are rice, wheat, and maize, which together occupy around 38.0% of the world's agricultural area.

About 12.7% of the global fertiliser market's value is made up of horticultural crops. Production of horticultural crops predominates in developing nations, especially in the Asia-Pacific region. The Asia-Pacific region largely dominates the world's horticultural fertiliser market because there are 137.66 million hectares of land used for horticultural cultivation, or around 73.0% of the world's total horticultural cultivation area.

Asia-Pacific is the world leader in the production of both field and horticultural crops. The fertiliser market in Asia-Pacific is expanding quickly.  The Asia-Pacific area has the largest fertiliser market, with Europe coming in second. The growing demand for fertilisers is likely to drive the fertiliser market over the forecast period due to the rising urbanisation in many countries and the general decline in agricultural land.

Major Players:  CF Industries, Israel Chemicals Ltd, Nutrien Limited, The Mosaic Company and Yara International

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