The Global Complex Fertilizers Market size is predicted to reach $81 billion by 2031, growing at a CAGR of 6.1% during the forecast period 2024-2031, according to the latest market research report published by IndustryARC. The market for Complex Fertilizers is primarily driven by the high nutritional content of the fertilizers and the rising demand for food security. finds IndustryARC in its recent report, titled “Complex Fertilizer Market Size, Share & Trends Analysis Report, By Form (Solid, Liquid), By Type [Incomplete (Diammonium phosphate, Monoammonium phosphate, Mono potassium phosphate, Potassium nitrate, Others), Complete (NPK (10-26-26), NPK (12-32-16), NPK (15-15-15) Others)] By Crop Type (Cereals, Oilseeds &b Pulses, Fruits & Vegetables, Others) By Geography – Global Opportunity Analysis & Industry Forecast, 2024-2031
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Asia-Pacific to Register Highest Growth:
Geographically, Asia-Pacific is predicted to have the largest CAGR of 7.2% over the projected period of 2024–2031 in the global complex fertiliser market share. The area is dominated by large-scale operations with a well-organized distribution network. Small-scale, traditional farmers make up the majority of farmers throughout Asia and the Pacific. The Asian nation consumed more than 45 million metric tonnes of nutrients in 2019. With 29.4 and 20.4 million tonnes, India and the United States came in second and third, respectively.
Complex Fertilizer Market 2023-2031: Segmentation
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Complex Fertilizer Market Report – Key Takeaways:
Oilseeds is Leading the Market
The Oilseeds segment had a 20% market share in 2023. Across the world, crops like soybean, cottonseed, sunflower, peanuts, and canola supply vital food resources. For instance, soybean, an oilseed, is used extensively in feed, biofuel, and human food applications. Complex fertilisers are therefore growing in popularity as a means of guaranteeing healthy crop stands and excellent yields.
There are two main types of complex fertilisers: liquid and solid. Depending on the crop, season, crop age, fertiliser type, and concentrations, solid fertilisers are either administered straight to the soil or blended with NPK fertilisers. It is economical to apply it on low-cost cereals like wheat and maize, which are the main crop types dominating the complex fertilisers market because it is a low-cost approach compared to others (such as fertigation).
Liquid Complex Fertilizers is Leading the Market
According to the Complex Fertilizer Market forecast, liquid complex fertilizers held the largest market valuation of $52 billion in 2023. Complex liquid fertilisers are anticipated to do well in the market throughout the forecast period because of their high nutritional content. Modern liquid fertilisers ensure that plants acquire critical nutrients in a way that is beneficial to plant nutrition regardless of changing climatic conditions, driving the market’s expansion.
Asia Pacific is Leading the Market
Asia Pacific region held a major market share of 51% in 2023. The area is dominated by large-scale operations with a well-organized distribution network. Small-scale, traditional farmers make up the majority of farmers throughout Asia and the Pacific. The Asian nation consumed more than 45 million metric tonnes of nutrients in 2019. With 29.4 and 20.4 million tonnes, India and the United States came in second and third, respectively.
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Key Opportunity Analysis:
Combination of Complex Fertilizers With Conventional Methods
The combination of complex fertilizers with conventional agricultural methods presents a compelling future opportunity within the complex fertilizers market. This strategy involves integrating the use of complex fertilizers with established farming practices to enhance crop productivity, optimize nutrient utilization, and promote sustainable agriculture. This opportunity is grounded in practical benefits and aligns with broader trends in modern farming.
Complex Fertilizer Market Growth.
Advanced Formulations for Specialty Crops
Specialty crops often require specific ratios and types of nutrients to thrive and produce optimal yields. Developing complex fertilizers with precise nutrient formulations ensures that these crops receive the nutrients they need in the right proportions, promoting healthy growth and higher yields.
Specialty crops are often grown for their unique characteristics and high market value. Tailored complex fertilizers can unlock the full yield potential of these crops, contributing to increased revenue for farmers.
Vertical Farming and Urban Agriculture
The emergence of vertical farming and urban agriculture presents a unique opportunity for the complex fertilizers market. These innovative cultivation methods involve growing crops in controlled indoor environments, often using hydroponic, aeroponic, or other soilless systems.
Vertical farming and indoor agriculture systems provide precise control over growing conditions, enabling the customization of nutrient solutions based on the specific needs of each crop. Complex fertilizers can be formulated to deliver nutrients in the optimal ratios for various growth stages.
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The Report also Covers the Following Areas:
Complex Fertilizer Market Size and Forecast
Complex Fertilizer Market Trends
Complex Fertilizer Market Analysis by Type
Complex Fertilizer Market 2023-2032: Key Highlights
CAGR of the market during the forecast period 2024-2031
Value Chain analysis of key stake holders
Detailed analysis of market drivers and opportunities during the forecast period
Complex Fertilizer Market size estimation and forecast
Analysis and predictions on end users’ behaviour and upcoming trends
Competitive landscape and Vendor market analysis including offerings, developments, and financials
Comprehensive analysis of challenges and constraints in the Complex Fertilizer Market
Covid and Ukrainian Crisis Impact:
The COVID-19 pandemic is a public health emergency that is having a devastating impact on the world economy, both directly and through efforts by public health to limit the disease’s spread. These effects have a cascading influence on the entire food system, affecting consumer demand, upstream and downstream food processing, seasonal labour availability, and intermediate input availability. Reduced farm output and a reduction in the demand for sophisticated fertiliser are two ways that the agricultural sector may eventually adapt to a decline in consumer demand. As the supply side reacts to weaker demand gaps, farm revenues will be further pressured and the need for complex fertilisers will decline, resulting in a drop in agricultural prices, at least in the immediate term.
Ukraine is a major global producer and exporter of fertilizers, particularly nitrogen-based fertilizers like urea and ammonia. The crisis disrupts fertilizer production and export from Ukraine, leading to potential supply shortages and price volatility in the global complex fertilizer market.
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List of Key Market Players in Complex Fertilizer Market:
The Global Complex Fertilizer Market is fragmented with several global and regional companies operating with expansive manufacturing capabilities and extensive distribution networks. The key companies profiled are listed below:
- Agrium Inc.
- CF Industries Holdings, Inc.
- Coromandel International Ltd.
- Eurochem Group AG
- Haifa Chemicals Ltd.
- Helena Chemical Company
- Israel Chemicals Limited
- Phosagro
- Potash Corporation of Saskatchewan Inc.
- Sociedad Química Y Minera De Chile SA.
- The Mosaic Company
- Yara International ASA
- Zuari Agro Chemicals Ltd
- Advent Group
- Acron
Related Reports:
Specialty Fertilizers Market – The imbalanced usage of fertilizers can cause a nutrient deficiency in crops, a decrease in productivity and lower crop yield. Thus, the demand and utilization of specialty fertilizers have increased to improve the quality of crops and enhance nutrient efficiency by providing micronutrients.
Fertilizers Market – Nutrient management is a key issue in sustainable soil fertility. The global supply of ammonia, phosphoric acid and potash is estimated at around 270 million tons from a total capacity of 310 to 315 million tons.
North Africa Sulphur Fertilizers Market – North Africa sulphur fertilizers market is projected to grow at a CAGR of 3.5% from 2024 to 2031, Sulphur fertilizers market is driven by the need to increase the efficiency as well as yield of crops.
Fertilizer Additives Market – Agriculture dominates the Fertilizer Additives Market growing at a CAGR of 6.8% during the forecast period. With the global population steadily growing, it is important that enough crops are produced each year to provide food, clothing, and other agricultural products to people around the world.
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