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Fertilizer Additives Market Trends, Top Companies, Share, Growth And Forecast 2033
Fertilizer Additives Market Trends
According to The Business Research Company's, The fertilizer additives market size has grown strongly in recent years. It will grow from $3.09 billion in 2023 to $3.28 billion in 2024 at a compound annual growth rate (CAGR) of 6.2%. The growth in the historic period can be attributed to soil nutrient depletion, agricultural productivity, environmental regulations, crop-specific solutions, fertilizer efficiency.
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Market Drivers and Trends:
The increasing population is expected to drive the fertilizer additives market going forward. Increasing population refers to a rise in the total number of people living in a specific area, region, or country, leading to demographic growth. Fertilizer additives help the population by improving agricultural productivity, enhancing sustainability, and reducing the environmental impact of food production and providing nutritious food to a growing world population. For instance, in November 2022, according to the United Nations, a US-based intergovernmental organization, the world's population is expected to increase by nearly 2 billion people in the next 30 years, from the current 8 billion to 9.7 billion in 2050. Therefore, the increasing population is expected to drive the growth of the fertilizer additives market.
Major companies operating in the fertilizer additive market are focusing on the development of advanced products, such as innovative fertilizer additives, to sustain their position in the market. Fertilizer additives employ advanced bio-based compounds that enhance soil's natural nitrogen-holding capacity, significantly reducing nutrient runoff and ensuring optimal nitrogen retention for sustainable agriculture. For instance, in July 2021, Innovar Ag LLC, a US-based agriculture technology company, launched an innovative fertilizer additive. With this new addition, Innovar Ag products help the soil hold on to the nitrogen that plants require for healthy, continuous feeding.
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Major Key Players of the Market:
KAO Corporation; Clariant AG; Filtra Catalysts & Chemicals Ltd.; Novochem Group; Solvay SA; Agrium Inc.; Bio Huma Netics Inc.; Bunge Limited; Compass Minerals; Compo Expert GmbH; Fertilizer Industry Round Table; Haifa Group; Helena Agri-Enterprises; Israel Chemicals Ltd.; Kali und Salz GmbH; Kingenta Ecological Engineering Group; Koch Industries Inc.; Lamberti Group; Nufarm Ltd.; Nutra-Flo Company; Nutrien Ltd.; Plant Food Company Inc.; Soil Technologies Corporation; Sociedad Química y Minera de Chile; Stoller Enterprises Ltd.; The Andersons Inc.; Timac Agro USA; Tradecorp International; UPL Limited; Valagro SpA; Verdesian Life Sciences LLC; Wilbur-Ellis Company; Yara International ASA
Fertilizer Additives Market 2024 Key Insights:
• The fertilizer additives market size is expected to grow to $4.2 billion in 2028 at a compound annual growth rate (CAGR) of 6.4%.
• Fertilizer Additives Market Poised For Growth Due To Rising Global Population
• Innovative Fertilizer Additives For Sustainable Agriculture Expand Fertilizer Additives Market
• North America was the largest region in the fertilizer additives market in 2023.
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