Nano Fertilizers Market is projected to reach the value of $1212.5 million by 2030

According to the report published by Virtue Market Research, the Global Nano Fertilizers Market was valued at $350 million in 2022 and is projected to reach a market capitalization of $1212.5 million by 2030. Over the forecast period of 2023-2030, the market is estimated to grow at a CAGR of 16.8% owing to the intensive expenditure in the research and developmental activities globally.

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The global nano fertilizers market is anticipated to grow exponentially due to the growing focus on the rising quantity of yield that has led to the enormous use of fertilizers in the agriculture industry. This can emerge in both environmental and agricultural calamities by degrading the quality of the natural soil. According to a report prepared by Food and Agricultural Organization, natural resources such as water and natural land are on the verge of exhaustion due to the excessive use of fertilizers. Moreover, soil and water degradation at a high rate continues owing to intensive urbanization and excessive use of chemical fertilizers. Thus, the decreasing nutritional quality of food and degraded soil quality continues to draw a gradual shift toward nanotechnology in the agriculture sector. Nano fertilizers remain an ideal probability to maintain the quality of soil while meeting the anticipated production target.

The outspread of the COVID-19 pandemic has had a significant impact on a majority of the industry sectors across the globe. The market faced several unexpected challenges amidst the global health crisis the world was facing. The global health crisis caused by the COVID-19 pandemic exerted a significant impact on most industries, however, the fertilizer industry has revealed some resilience in the supply-demand chain during the global crisis. The fertilizer industry has been impacted since the outset, majorly in China, the most significant producer and consumer hub for the fertilizer market. The outcome on prices however has been mixed with a tighter supply of fertilizers, owing to the production constraints in China, causing a reversal in the downward trend while the price collapsed. However, the market is predicted to get back on track and expand over the assessment timeframe in the post-pandemic phase owing to the anticipated increased usage and demand in the agricultural sector. The use of nano fertilizers can aid in reducing chemical fertilizer consumption by 80% - 100%, thus minimizing the reliance of farmers on chemical fertilizers. Also, the importance of policy framework remains critical to promoting sustainable growth, and such a framework is already in process for nano fertilizers in some economies. These initiatives are aimed at gauging the use of fertilizers, seeds, and retail markets, continuing to generate revenues and momentum for the eco-friendly and high-yield promising nano fertilizers in the near future. Furthermore, the growing worldwide population, rising food requirements, and the capability of nano fertilizers to provide balanced fertilization are the primary drivers driving the growth of the global market. Thus, the humongous demand for nano fertilizer from the agriculture industry coupled with supportive government initiatives continues to promote newer and more efficient agriculture techniques in the sector.

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Segmentation Analysis:

The global Nano Fertilizers Market segmentation includes:

By Type:
• Zinc Fertilizers
• Boron Nano
• Nano Aptamers
• Others

According to the type, zinc-based nano fertilizers are estimated to witness robust growth in the forecasted years. It accounts for over 25% of revenue share in 2022. This growth is largely contributed to zinc-based fertilizer and remains a cost-effective choice among the stakeholders. Moreover, zinc-based fertilizer also remains accessible to farmers quite easily and provides rich nutrition to several crops. Thus, it acts as an integral element in the growth of plants. Nitrogen developed as a primary raw material used in the production of nano fertilizer in 2022, with a revenue share of almost over 25%. The easy and cheap availability of nitrogen enables it and makes it the topmost preference among consumers.
Boron nano fertilizers observed more traction in the agricultural sector in recent times. The boron tubes enable the ability to nano transport and impact plant growth and act as a means for biosensors. Thus, they may act as both plant growth boosters and slow fertilizers.

By Application:
• In vitro Application
• In vivo
• Aeroponics
• Others.

According to the application, In-vitro applications dominate the world nano fertilizers market in 2022. This is due to the rising demand for enhanced products with greater efficiency and performance. In-vivo functions are anticipated to observe a steep boom over the outlook period due to increasing demand for organic merchandise that has no results on human health. The several essential applications comprise soil application, which accounts for a large market share due to excessive product efficiency and low fees.

Regional Analysis:

North America dominates the global nano fertilizers market in 2022 with a revenue share of over 34%. This is due to advancements in agriculture in developed economies such as Canada and the U.S. This is due to the rising demand for high-yield crops in the economies such as the U.S., Canada, and Mexico with the U.S. holding worth USD 118.3 billion of exports per year 2022.
Asia-Pacific remains a primary contributor to the global nano fertilizers chain. It accounts for about 19% of total agriculture nano fertilizers worldwide. This is due to the presence of developing economies such as India, China, Vietnam, and Indonesia. The growth of India and China as global producers of rice, wheat, cotton, and tea remains a primary driver of the growth of nano fertilizers in the region. Moreover, Indonesia and Vietnam remain among the top five producers of coffee beans. This has escorted an immediate need in the region to raise productivity.

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Latest Industry Developments:

• In June 2022, Nutrien announced its plans to raise its fertilizer production capacities in response to structural transformation in the global energy, agriculture, and fertilizer industry.

• In 2022, The CP Group and Charoen Pokphand Foods Public Company Limited, in a joint venture kicked off a reforestation collaboration in Trat province, covering an area of 1,300 meters, under CPF Grow-Share-Protect Mangrove Forestation Project.

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Virtue Market Research is a strategic management firm helping companies to tackle most of their strategic issues and make informed decisions for their future growth. We offer syndicated reports and consulting services. Our reports are designed to provide insights on the constant flux in the global demand-supply gap of markets.

This release was published on openPR.