What is the global market size of the Nitrogenous Fertilizer Market?

Global Nitrogenous Fertilizer Market size was valued at USD 57.8 billion in 2021 and is poised to grow from USD 60.98 billion in 2022 to USD 92 billion by 2030, growing at a CAGR of 5.3% in the forecast period (2023-2030).

Nitrogenous Fertilizer Market Size, Share, Growth Analysis, By Type(Urea, ammonium nitrate, ammonium sulfate, methylene urea), By Crop Type (Cereals & grains, oilseeds & pulses, fruits & vegetables, and others), By Application, By Form, By Region - Industry Forecast 2025-2032

Report ID: SQMIG15A2101 | Region: Global | Published Date: November, 2024
Pages: 242 | Tables: 68 | Figures: 75

Nitrogenous Fertilizer Market News

In November 2022, the Foundation for Food & Agriculture Research (FFAR) announced the formation of Efficient Fertilizer Consortium at the United Nations Climate Change Conference. The Efficient Fertilizer Consortium is a public-private partnership that conducts research to advance efficient, environmentally beneficial and cost-effective fertilizers and management practices.

In November 2022, SDG2 Advocacy Hub launched two anti-hunger campaigns at COP27 to raise awareness about the global hunger and climate crises, as well as to promote solutions that can help address these pressing challenges.

In October 2022, Texas Tech established a nitrogen fertiliser sustainability centre.

Nitrogenous Fertilizer Market Report Snapshots

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Nitrogenous Fertilizer Market size was valued at USD 57.8 billion in 2022 and is poised to grow from USD 60.98 billion in 2023 to USD 92 billion by 2031, growing at a CAGR of 5.3% in the forecast period (2024-2031).

Global nitrogenous fertilizer market is highly competitive and somewhat fragmented. To maintain a competitive edge, the major industry participants are continually implementing various growth strategies. Innovations, mergers, and acquisitions, collaborations and partnerships are adopted by these players to thrive in the competitive market. In order to provide industries with the most effective and economical solutions, the major market players are also continually concentrating on R&D. 'Bunge Limited', 'Yara International ASA', 'Eurochem Group AG', 'CF Industries Holdings Inc.', 'Sinofert Holdings Limited.', 'Coromandel International Ltd.', 'CVR Partners, LP', 'Shandong Hualu Hengsheng Chemical Co Ltd', 'Koch Industries, Inc.', 'The Mosaic Company', 'Nutrien Ltd.', 'OCI Nitrogen BV', 'SABIC Agri-Nutrients Co.', 'Haifa Chemicals Ltd.', 'Zuari Agro Chemicals Ltd.', 'Israel Chemicals Ltd.', 'Indian Farmers Fertilizer Cooperative Limited (IFFCO)', 'Qingdao Sonef Chemical Company Limited', 'K+S AG'

The increased use of nitrogenous fertilizers in various agricultural products such as cereals, cotton, fruits, and vegetables is driving market growth. Nitrogenous crops have seasonal demand, as do many other crops. Crop production levels are heavily influenced by the weather, which influences supply and demand for nitrogenous fertilizers based on the season.

Due to its rising compatibility with pesticides, herbicides, growth regulators, and other nutrients, urea-ammonium nitrate, a popular type of nitrogenous crop-growth enhancer, is rapidly gaining traction among liquid fertiliser manufacturers. The use of liquid fertilisers allows a farmer to save money by implementing several crop production and protection products at the same time rather than making several separate applications. Because they apply more smoothly and uniformly than non-liquid nitrogenous fertilisers, urea-ammonium nitrate solutions are widely utilized as a nitrogen source for plants.

Due to a larger available area for cultivation, favourable climate conditions, and a higher rural population, the Asia Pacific region is expected to maintain its dominant position during the forecast period. Due to increased demand and a growing emphasis on food security, major multinational nitrogenous fertilizer manufacturers are establishing manufacturing units in Asia Pacific countries like China, India, Japan, and others. China is the world's largest consumer of the product, accounting for roughly one-third of total global product consumption. These fertilizers play an important role in ensuring China's food security by allowing for greater growth in both non-grain and grain yields.

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Nitrogenous Fertilizer Market Size, Share, Growth Analysis, By Type(Urea, ammonium nitrate, ammonium sulfate, methylene urea), By Crop Type (Cereals & grains, oilseeds & pulses, fruits & vegetables, and others), By Application, By Form, By Region - Industry Forecast 2025-2032

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