Global Fertilizer Market Expected to Reach USD 246.6 Billion by 2033 - IMARC Group

Global Fertilizer Market Statistics, Outlook and Regional Analysis 2025-2033

The global fertilizer market size was valued at USD 182.3 Billion in 2024, and it is expected to reach USD 246.6 Billion by 2033, exhibiting a growth rate (CAGR) of 3.07% from 2025 to 2033.

The fertilizer industry is expanding significantly with growing disposable incomes and a shift toward diets comprised of high protein. This trend is fueled by economic development, particularly in emerging economies, which in turn is propelling the demand for fertilizer and agricultural products. Farmers are drawn to technological innovations that have enhanced nutrient efficiency and decreased environmental effect, such as the creation of water-soluble and controlled-release fertilizers. The introduction of water-soluble and controlled-release fertilizers are significantly enhancing nutrient efficiency while reducing environmental impacts. According to IMARC, the global water-soluble fertilizers (WSF) market size reached US$ 18.3 Billion in 2023. By 2032, the market is expected to reach US$ 28.8 Billion, at a projected CAGR of 5.20% during 2023-2032. The industry continues to thrive owing to the implementation of various government programs that support sustainable farming methods and balanced fertilizer use, especially in developing countries. The production of biofuel crops climbed due to the biofuel industry's explosive growth, which has elevated fertilizer usage. Furthermore, the hike in demand for organic fertilizers as an outcome of the boom in organic farming is broadening the range of products available on the market.

Higher agricultural yields from existing farmland are becoming necessary due to urbanization and the loss of arable land, which has encouraged farmers to use fertilizers frequently. Crop productivity and fertilizer use efficiency are impelling the market growth due to the incorporation of precision agricultural techniques, which maximize fertilizer application. For instance, studies show that precision agriculture has improved fertilizer placement efficiency by 7%, with the potential for an additional 14% reduction in fertilizer use with broader adoption. Price fluctuations for natural gas is a vital component of fertilizers based on nitrogen, having a big impact on market dynamics and production costs. Additionally, new growth prospects are being presented by government policies that encourage the use of ecologically friendly fertilizers, offering subsidies. Fertilizers continue to be an essential part of modern farming, ensuring high production while addressing environmental concerns as the demand for food security and sustainable agricultural methods emerges globally. Fertilizers are crucial for addressing the issues of global food security and maintaining agricultural output due to these combined reasons.

Global Fertilizer Market Statistics, By Region

The market research report has also provided a comprehensive analysis of all the major regional markets, which include North America (the United States and Canada); Asia-Pacific (China, Japan, India, South Korea, Australia, Indonesia, and others); Europe (Germany, France, the United Kingdom, Italy, Spain, Russia, and others); Latin America (Brazil, Mexico, and others); and the Middle East and Africa. According to the report, Asia Pacific accounted for the largest market share due to high agricultural activity and growing food demand.

North America Fertilizer Market Trends:

In North America, the demand for fertilizers is amplified by the need to sustain high crop yields for a growing population and industrial-scale agriculture. In line with this, intensive farming practices deplete essential soil nutrients, requiring regular fertilizer application to maintain productivity. Increasing adoption of advanced farming technologies, including precision agriculture, further enhances fertilizer use efficiency. Additionally, North America's growing biofuel industry increases the cultivation of feedstock crops is further impelling the fertilizer demand.

Asia-Pacific Fertilizer Market Trends:

The Asia-Pacific fertilizer market is significantly dominating the market owing to the increasing agricultural activities in the region. Additionally, governments in the region actively support sustainable agriculture through subsidies and initiatives that promote balanced fertilizer use and advanced agricultural technologies. For example, India provides financial incentives and subsidies under the Paramparagat Krishi Vikas Yojana (PKVY) to encourage organic farming and reduce chemical fertilizer dependency. Along with this, the shift toward organic farming and the demand for bio-based fertilizers are expanding the market's scope. The region's diverse climatic conditions and vast agricultural lands further underscore its strategic importance in the global fertilizer industry.

Europe Fertilizer Market Trends:

In Europe, the demand for fertilizers is propelled by the adoption of advanced agricultural practices and the need to enhance crop quality and yield. The region's focus on sustainable farming and organic agriculture has amplified the use of bio-based fertilizers. Additionally, the cultivation of high-value crops, such as fruits and vegetables, requires precise nutrient management which is further driving the fertilizer consumption.

Latin America Fertilizer Market Trends:

In Latin America, the expansion of commercial agriculture, particularly in countries like Brazil and Argentina, has bolstered the demand for fertilizers. The region focuses on exporting agricultural commodities, such as soybeans and sugarcane which needs intensive farming practices that rely heavily on fertilizers to maintain soil fertility and improve crop yields.

Middle East and Africa Fertilizer Market Trends:

In the Middle East and Africa, the demand for fertilizers is driven by efforts to achieve food security and reduce dependence on food imports. The arid climate and poor soil fertility of the region makes the use of fertilizers mandatory to improve the agricultural productivity. Additionally, government initiatives aimed at heightening local food production leads to escalated fertilizer consumption.

Top Companies Leading in the Fertilizer Industry

Some of the leading fertilizer market companies include CF Industries, Haifa Group, Indian Farmers Fertiliser Cooperative Limited (IFFCO), Israel Chemicals Ltd. (ICL), Nutrien Limited, Sociedad Química y Minera (SQM), The Mosaic Company, Uralkali, and Yara International, among many others.

• In April 2024, the Indian Farmers Fertiliser Co-operative Limited (IFFCO) signed a Memorandum of Understanding with ACME Cleantech Solutions to procure approximately 200,000 metric tons of green ammonia produced using renewable energy. This collaboration aligns with India's National Green Hydrogen Mission, aiming to position the country as a global hub for green hydrogen and its derivatives.

Global Fertilizer Market Segmentation Coverage

• On the basis of the product type, the market has been bifurcated into chemical fertilizer, and biofertilizers wherein chemical fertilizer represent the leading segment. Chemical fertilizers dominate the market due to their widespread usage which helps in enhancing agricultural productivity. Essential nutrients, such as nitrogen, phosphorus, and potassium, that support crop growth is provided by these fertilizers. Their rapid nutrient-release properties and compatibility with various crops make them a preferred choice among farmers, especially in regions focusing on large-scale commercial farming.
• Based on the product, the market is classified into straight fertilizers [nitrogenous fertilizers (urea, calcium ammonium nitrate, ammonium nitrate, ammonium sulfate, anhydrous ammonia, and others); phosphatic fertilizers (mono-ammonium phosphate (MAP), di-ammonium phosphate (DAP), single super phosphate (SSP), triple super phosphate (TSP), and others); potash fertilizers (muriate of potash (MoP) and sulfate of potash (SoP)); secondary macronutrient fertilizers (calcium fertilizers, magnesium fertilizers, and sulfur fertilizers); and micronutrient fertilizers (zinc, manganese, copper, iron, boron, molybdenum, and others)] and complex fertilizers amongst which straight fertilizers dominate the market. Their single-nutrient composition offers precise nutrient delivery for specific crop requirements. This includes nitrogenous, phosphatic, potash, secondary macronutrient, and micronutrient fertilizers. Especially in large-scale farming, their widespread application stems from their cost-effectiveness, ease of handling, and ability to address specific soil deficiencies which are making them a top pick for the farmers globally.
• On the basis of the product form, the market has been divided into dry and liquid. Among these, dry accounts for the majority of the market share. These fertilizers dominate the market, primarily due to their ease of storage, longer shelf life, and cost-effectiveness. They are highly used in both large-scale agriculture and small farming practices. Dry fertilizers, such as granules and powders, offer convenience in application, especially for large areas which are easily incorporated into soil, as favoured selection for farmers globally.
• Based on the crop type, the market is segregated into grains and cereals, pulses and oilseeds, fruits and vegetables, flowers and ornamentals, and others, and grains and cereals represent the leading segment. Grains and cereals lead the market due to their critical role in global food security and agricultural production. These crops, including staples like wheat, rice, and corn, are extensively cultivated worldwide and serve as primary sources of food and animal feed. Their high demand, combined with the necessity for fertilizers to enhance yield and support large-scale farming operations, underscores their dominance in the market.

Browse IMARC Related Reports on Fertilizer Market:

• Indian Fertilizer Market Report
   
• Saudi Arabia Fertilizer Market Report
   
• Indonesia Fertilizer Market Report
   
• Japan Fertilizer Market Report
   
• Middle East Fertilizer Market Report