Fertilizer Market Size, Share, Growth Analysis, By Form(dry and liquid), By Product(Organic and inorganic), By Region - Industry Forecast 2024-2031

Fertilizer Market size was valued at USD 191 billion in 2022 and is poised to grow from USD 195.01 billion in 2023 to USD 230.29 billion by 2031, growing at a CAGR of 2.1% in the forecast period (2024-2031).

Natural and synthetic fertilisers are applied to plant tissues or soil to give one or more nutrients required by plants for growth. Over the projected period, it is anticipated that increased agricultural output and growing demand for improved soil nutrients will further raise fertilizer demand.

Farmers should be encouraged to utilise fertilisers more effectively and safely as organic fertilisers become increasingly widespread. There are several problems that the agricultural sector in the world must deal with. By 2050, the world's population will have topped nine billion, according to the UN. This will put a great deal of strain on the agricultural industry, which is already experiencing a loss in output as a consequence of a lack of labourers and the shrinkage of agricultural fields as a result of rising urbanisation. By 2050, the Food and Agriculture Organization projects that more than 70% of people on the planet would reside in urban areas. Due to a global lack of arable land, farmers are being pushed to employ fertilisers to increase their agricultural output.

US Fertilizer Market is poised to grow at a sustainable CAGR for the next forecast year.