How is the demand for inorganic fertilizers likely to increase fertilizer market share through 2026? | Haifa Group, Yara International ASA, Nutrien, Mosaic, GÜBRETA, Gemlik Fertilizer, BAGFA

The fertilizer market size is expected to surpass $200 billion by 2026, driven primarily by the growing awareness pertaining to food security particularly in the emerging economies.

Dry fertilizers are usually available in the form of granules. When separate granular fertilizers are mixed together in the appropriate ratio, fertilizer blends can be created as per the individual requirements of farmers, with the resulting custom solution significantly producing higher yields.

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In 2019, the dry fertilizer segment contributed a share of more than 85% and might retain its dominance over the forecast timeline as well. Dry fertilizers are more cost effective when compared with liquid fertilizers, especially when bought in bulk quantities. Furthermore, they are easier to store because they do not form lumps unlike liquid fertilizers.

Fertilizers are being widely utilized across gardening, horticulture, agriculture, stadium turfs, nurseries, and public parks. The gardening application segment holds a significant percentage of share in the total revenue and is poised for continuous growth between 2020 and 2026, exhibiting a CAGR of 2.5%.

Gardening activities across the globe have been increasing, thanks to the rising awareness about the soothing effect of nature on health, the aesthetic value added by plants, and the consequent investments in commercial gardening and landscaping as part of infrastructural amelioration.

As the number of public and private parks, shrubberies, and botanical gardens increases, the demand for fertilizers will simultaneously shoot up. The escalating popularity of compact alternatives such as kitchen gardening and terrace gardening in residential areas across densely populated regions is also inducing growth in fertilizer industry.

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Inorganic fertilizers are generally nitrogen-based solutions such as anhydrous ammonia, ammonium sulfate, calcium ammonium nitrate, and ammonium nitrate. Nitrogen plays a crucial role in plant growth. Being one of the macronutrients, it is essential for the formation of proteins in plants.

Inorganic fertilizers are much more efficient than organic fertilizers as they contain a high percentage of nutrients that are readily available to plants. Very less quantity of inorganic fertilizers suffices unlike organic fertilizers, and the application as well as transportation costs are low. As a result, a large number of farmers across Europe as well as other regions have been adopting inorganic fertilizers.

Nitrogen-based inorganic fertilizers represent a share of about 50% in the global fertilizers market. The growth of this segment can be attributed to factors such as the ability of these fertilizers to maintain soil fertility, favorable government initiatives such as subsidies, and awareness about sustainable agriculture.

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