Fertilizer Mixtures Market: Segmented: By Type (Phosphorus Fertilizer Mixtures, Potassium and Phosphorus Mixtures, Nitrogen Fertilizer Mixtures, and Others), By Formula Type (Open Formula Fertilizer Mixtures, and Close Formula Fertilizer Mixtures), By Application (Soil Quality, Crop Production), And Region - Global Analysis of Market Size, Share & Trends For 2021-2022 And Forecasts To 2032
[170+ Pages Research Report] Fertilizer Mixtures Market to surpass USD 35.5 billion by 2032 from USD 20.1 billion in 2021 at a CAGR of 5.3% in the coming years, i.e., 2022-32.
Fertilizer Mixtures refers to a mixture of straight fertilizers. They are granulated mineral fertilizers containing two or more major elements to stimulate growth in plants or crops. Fertilizer Mixtures provide all the required nutrients to crops or plants in a one-time application. The major elements in the mixture are phosphorus fertilizer mixtures (P), nitrogen fertilizer mixtures (N), potassium fertilizer mixtures (K), and others. Fertilizer mixtures are fragmented into open-formula fertilizer mixtures and closed-formula fertilizer mixtures. The mixture is used to improve soil quality and enhance crop production by supplying important nutrients.
Fertilizer Mixtures market is expected to project a notable CAGR of 5.3% in 2032.
Rapid growth in population, rise in disposable income of individuals, growing health concerns and outbreak of new diseases along with rising adoption by farmers are driving the growth of Fertilizer Mixtures market.
Open Formula Fertilizer Mixtures segment is growing at the highest CAGR
Fertilizer Mixtures market is classified on the basis of formula type into Open Formula Fertilizer Mixtures, and Close Formula Fertilizer Mixtures. Open Formula Fertilizer Mixture is growing at the highest CAGR. The kinds and quantities of fertilizers mixed in the mixture is disclosed by the manufacturer. They can be customized according to the type of soil which is the main factor contributing to the growth of the segment.
Global Rise in the Demand for Food and Changing Eating Habits
Rapid growth in population especially in developing nations like India and China has led to rising demand for food in the market. The disposable income of individuals has grown significantly over the past few years which has increased the demand for certain food items. Moreover, growing health concerns and outbreak of new diseases has induced the demand for nutritious food items and has also changed the eating habits of customers. To meet the rising food requirements, the demand of fertilizer mixtures has grown significantly which is driving the market growth
Growing Adoption of Fertilizers by Farmers
Farmers are facing issues related to deteriorated quality of soil and shortage of land which has severely affected agricultural production. As fertilizer mixtures have all the essential nutrients it can improve the soil quality. The residual acidity can be neutralized by using the neutralizers in the fertilizer mixtures. Farmers can provide vital nutrients to crops and enhance crop yield and agricultural productivity with the incorporation of fertilizer mixtures. The growth in the use of fertilizer mixtures in farming activities is driving the growth of the market.
High Costs of Fertilizer Mixtures
The cost of fertilizer mixtures is comparatively higher than the straight fertilizers which is a major hindrance in the market growth. Moreover, fertilizer mixtures are not efficient if the crop needs only a specific nutrient which is restraining the growth of the market.
Fertilizer Mixtures market is segmented based on regional analysis into five major regions: North America, Latin America, Europe, Asia Pacific and the Middle East and Africa. Asia Pacific is dominating with the largest share in the market. The growth is attributed to the rising demand in developing nations such as India and China, growing awareness among farmers, ease of availability, rising disposable income, and growing investments by key players in the market. Moreover, favorable government initiatives such as tax exemption and subsidies are boosting the growth of Fertilizer Mixtures market in the region.
Covid-19 outbreak has adversely affected economies all over the world. The unprecedented effects of coronavirus had resulted in the imposition of lockdown and strict social distancing regulations. Covid-19 caused a huge disruption in the supply chain management in the market which has hampered the growth of fertilizer industries. Covid-19 has severely affected the growth of Fertilizer Mixtures Market owing to labor shortages and hindrances in operational activities. However, in the post-pandemic world, the market is expected to grow at a significant rate.
Fertilizer Mixtures Market is further segmented by region into:
Fertilizer Mixtures Market Segments:
|Market size value in 2021
|USD 20.1 billion
|Revenue forecast in 2032
|USD 35.5 billion
|CAGR of 5.3% from 2022 to 2032
|Base year for estimation
|Revenue in USD million and CAGR from 2022 to 2032
|Revenue forecast, company ranking, competitive landscape, growth factors, and trends
|Type, Formula Type, Application, and Region
|North America, Europe, Asia Pacific, Latin America, Middle East & Africa (MEA)
|Key companies profiled
|The Mosaic Company, Bayer Crop Science, Sumitomo Chemical Co., Ltd., Indian Potash Limited, German Trading Corporation, Henan Xinlianxin Fertilizer Co. Ltd., Compass Minerals, Agrichem do Brasil S.A, Central Biotech Pvt. Ltd, Dayal Group, China Blue Chemical Limited, Bicco Agro Products, Shiva Global Agro Industries Ltd, Yara International ASA, Agrium, Inc., and Other Prominent Players
Fertilizer Mixtures market size was estimated at USD 20.1 billion in 2021 and is expected to reach USD 35.5 billion in 2032.
Fertilizer Mixtures refers to a mixture of straight fertilizers. They are granulated mineral fertilizers containing two or more major elements to stimulate growth in plants or crops. Fertilizer Mixtures provides all the required nutrients to crops or plants in a one-time application.
Open Formula Fertilizer Mixtures segment accounted for the largest Fertilizer Mixtures market share.
Key players: The Mosaic Company, Bayer Crop Science, Sumitomo Chemical Co., Ltd., Indian Potash Limited, German Trading Corporation, Henan Xinlianxin Fertilizer Co. Ltd., Compass Minerals, Agrichem do Brasil S.A, Central Biotech Pvt. Ltd, Dayal Group, China Blue Chemical Limited, Bicco Agro Products, Shiva Global Agro Industries Ltd, Yara International ASA, Agrium, Inc., and Other Prominent Players are the key players in the Fertilizer Mixtures market.
Global Rise in the Demand for Food and Changing Eating Habits and Growing Adoption of Fertilizers by Farmers are the factors driving the Fertilizer Mixtures market.
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