Indian Fertilizer Market Size, Share, Industry Growth and Business Opportunity 2023-2028

IMARC Group's latest research report, titled "Indian Fertilizer Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2023-2028," The Indian fertilizer market size reached INR 898.5 Billion in 2022. Looking forward, IMARC Group expects the market to reach INR 1,188.3 Billion by 2028, exhibiting a growth rate (CAGR) of 4.85% during 2023-2028.

Indian Fertilizer Market Overview:

Fertilizer is a vital agricultural input that enhances soil fertility and promotes plant growth. It provides essential nutrients like nitrogen, phosphorus, and potassium, supplementing the natural nutrient content of soils. It helps increase crop yields, improve crop quality, and ensure food security by enabling farmers to meet the demands of a growing global population. They are available in various forms, including granular, liquid, and organic options, catering to different crop types and cultivation methods. Fertilizer application requires careful management to prevent overuse, which can harm the environment. In sustainable agriculture, responsible fertilizer use is integral to optimizing crop production while minimizing environmental impact.

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Leading Companies in Indian Fertilizer Industry :

• Coromandel International Limited
• Deepak Fertilizers and Petrochemicals Corporation Limited
• Fertilizers And Chemicals Travancore Limited (FACT)
• Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC)
• Gujarat State Fertilizers & Chemicals Limited (GSFC)
• Hindustan Fertilizer Corporation Limited (HFCL)
• Indian Farmers Fertilizer Cooperative Limited (IFFCO)
• Krishak Bharati Cooperative Limited (KRIBHCO)
• MADRAS FERTILIZERS LIMITED

Indian Fertilizers Market Trends:

The market in India is majorly driven by the increasing food production. In line with this, the changing dietary preferences towards more protein-rich diets require larger grain and forage crops to feed livestock. This shift drives the need for fertilizers to support higher crop production. Furthermore, the shrinking arable land due to urbanization and soil degradation means that farmers must maximize productivity on existing farmland, further emphasizing the role of fertilizers. Moreover, the rapid advancements in agricultural technology and precision farming have led to more efficient fertilizer application methods. These innovations increase the effectiveness of fertilizers, promoting their use. Besides, government subsidies and incentives in many countries encourage farmers to adopt modern agricultural practices, including fertilizer use, to boost yields and food security. Additionally, the escalating awareness of sustainable agriculture practices drives the demand for organic and eco-friendly fertilizers, catering to environmentally-conscious consumers. The increasing trend towards biofuels and renewable energy sources, such as corn-based ethanol, requires higher crop yields, bolstering the market.

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Key Market Segmentation:

Breakup by Product Type:

• Chemical Fertilizers
• Biofertilizers

Breakup by Segment:

• Complex Fertilizers
• DAP
• MOP
• Urea
• SSP
• Others

Breakup by Formulation:

• Liquid
• Dry

Breakup by Application:

• Farming
o Grains and Cereals
o Oilseeds
o Fruits and Vegetables
o Others
• Gardening

Breakup by Region

• East India
• North India
• South India
• West India

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