The global complex fertilizers market size is expected to reach USD 66.65 billion in 2024 and reach USD 93.79 billion by 2029, growing at a CAGR of 7.07% from 2024 to 2029.
The mixing of two or more macro-nutrient type fertilizers produces compound fertilizers, also known as complex fertilizers. Often, they are blended further with elements containing secondary or trace nutrients such as sulfur, calcium, and magnesium.
The growing need for food security for the growing population, rising demand for oilseeds, advanced farming technologies that deliver safe and reliable application of complex fertilizers, and the ease of application of complex fertilizers are the primary drivers of this market. This market represents a potential opportunity in the forecast period. Thus, several key players have heavily invested to augment their production capacities and to produce various complex fertilizers that are crop-specific. Secondary factors contributing to the growth of this market include the need to increase productivity, fertilizer intensity gaps across regions, level yield, and growing awareness about soil profile and nutritional balance which is supported by the state. The paradigm shift towards organic food and non-food consumption is the major restraint of this market.
REPORT METRIC |
DETAILS |
Market Size Available |
2023 to 2029 |
Base Year |
2023 |
Forecast Period |
2024 to 2029 |
CAGR |
7.07% |
Segments Covered |
By Type, Crop Type, Form and Region. |
Various Analyses Covered |
Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities |
Regions Covered |
North America, Europe, APAC, Latin America, Middle East & Africa |
Market Leaders Profiled |
Holdings Inc. (U.S.), Yara International ASA (Norway), The Mosaic Company (U.S.), EuroChem Group AG (Switzerland), Potash Corporation of Saskatchewan (Canada), PhosAgro (Russia), Agrium Inc. (Canada), Israel Chemicals Limited (Israel), Sociedad Química Y Minera De Chile (Chile), Haifa Chemicals Ltd., (Israel), Helena Chemical Company (U.S.), and Zuari Agro Chemicals Ltd (India) and Others. |
The incomplete complex fertilizers market is estimated to have a high CAGR during the aforementioned forecast period. The Diammonium phosphate fertilizers category was the largest in 2016. The Monoammonium phosphate fertilizers category is estimated to be the fastest-growing during the aforementioned forecast period.
In terms of volume, Oilseeds are the fastest-growing segment because of the growing demand for agricultural production.
The solid segment commanded more than half of the market as per the data of 2016. It is economical to use it on low-cost cereals such as wheat and corn since it is a low-cost technique compared to other techniques (such as fertigation).
By geography, the global Complex Fertilizers market has been categorized into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Presently, Asia-Pacific accounts for the largest market share while Latin America has the highest CAGR.
KEY MARKET PLAYERS
Major companies in the Complex Fertilizers market are CF Industries Holdings Inc. (U.S.), Yara International ASA (Norway), The Mosaic Company (U.S.), EuroChem Group AG (Switzerland), Potash Corporation of Saskatchewan (Canada), PhosAgro (Russia), Agrium Inc. (Canada), Israel Chemicals Limited (Israel), Sociedad Química Y Minera De Chile (Chile), Haifa Chemicals Ltd., (Israel), Helena Chemical Company (U.S.), and Zuari Agro Chemicals Ltd (India).
By Type
By Crop Type
By Form
By Region
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