Fertilizers, the love of a plant's life. Expected to grow over 2.5% CAGR in the next 5 years
When you talk about large-scale usage, its primary demand comes from individuals from the agricultural sectors, mainly farmers. As per recent market research reports, it is The United States of America and Canada that produces and sells fertilizers the most compared to any other country. While a plant's primary source of growth is water, sunlight, and fertile soil, plants also need to be fertilized because, in most cases, only using normal soil does not provide the nutrients essential for best growth. To help your plant grow to its best of abilities, plants also require Nitrogen, Phosphorus, Potassium, Calcium, Magnesium, and Sulfur. Assuming that you have planted your crop or plants in soil that is very high in terms of fertility, it won't be long before your plant absorbs all of the nourishment of the earth, leaving it less fertile than earlier. In such cases, fertilizers come to the rescue.
Aren't fertilizers harmful in the long run?
There are concerns over the fact that fertilizers have unwanted chemicals that contaminate vegetables and plants and, finally, after consumption, can harm human beings too. However, most farmers and consumers are now educating themselves on choosing organic fruits, vegetables, and seeds. While good health is the long-term goal, choosing organic foods also means you would be supporting your local farmers and markets, thereby encouraging its production and perhaps even reducing its prices over time. Just like killing two birds with one stone.
Are there different types of fertilizers?
Before understanding what types of fertilizers exist, it is essential to understand the difference between synthetic and organic fertilizers. Synthetic fertilizers supply nutrients directly to plants. This means all of its nutrients, like potassium, phosphorus, nitrogen, etc., are pure raw chemical-based put directly onto the plant.
Organic-based fertilizers work with the same concept, too; however, all these nutrients are derived from living organisms. After the passing away of these organisms, the decay of its body releases these nutrients, thereby making it the purest form of nutrients.
Now that you have understood this, different fertilizers such as Nitrogen, Phosphate, Potassium, and Fertilizer forms (Liquid, powder, and granule) are available in both organic and synthetic fertilizers. The choice of 'which one is to be incorporated lies with the consumer.'
Market value and future potential
Due to the growing population globally, the amount of mouths to feed has significantly increased. Due to this, fruits, vegetables, and grains are expected to be at the highest level of demand possible. And it is not only the consumption rates that will be high. A new person on the planet means an extra mouth to feed, clothing, and shelter. And to have a successful harvest of crops for such uses, the demand for fertilizers, both organic and synthetic, will rise. As per a market research report by Stallion Market research, the global fertilizer market value is currently at over USD 200 billion, with a compound annual growth rate of 2.5% (2020-2025). However, even the agricultural supply chain has been hit due to the unfortunate pandemic, which has resulted indirectly affected the demand for fertilizers. However, the pace is slowly beginning to pick up now with the vaccination doing its rounds and the world trying to return to normal.
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