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Sulfur Fertilizers Market Size, Share, Growth Analysis And Forecast Report 2024-2033
Sulfur Fertilizers Market Size
According to The Business Research Company's, The sulfur fertilizers market size has grown steadily in recent years. It will grow from $4.68 billion in 2023 to $4.83 billion in 2024 at a compound annual growth rate (CAGR) of 3.3%. The growth in the historic period can be attributed to depletion of soil sulfur levels, increased crop yield requirements, industrial emissions reduction, awareness of sulfur deficiency, transition to high-yield varieties.
The sulfur fertilizers market size is expected to see steady growth in the next few years. It will grow to $5.55 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%. The growth in the forecast period can be attributed to expansion of sulfur-responsive crops, climate change impacts, global population growth, stringent environmental regulations, rising demand for organic agriculture. Major trends in the forecast period include innovations in sulfur fertilizer products, integration of sulfur with other nutrients, focus on sustainable agriculture, precision agriculture and sulfur application, sulfur use in specialty crops.
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Market Drivers and Trends:
The growing demand for food is expected to propel the growth of the sulfur fertilizer market going forward. Food refers to a substance that can provide protein, carbohydrate, fat, and other nutrients that are used in the body of an organism and are essential for its proper growth. In an agricultural field, for numerous plant growth processes, such as nitrogen metabolism, enzyme activity, protein and oil synthesis, depend on sulfur fertilizers are used to increase the agricultural output which can meet the rising demand for food around the globe. For instance, in July 2022, according to an article by the Food and Agriculture Organization, an Italy-based organization of the United Nations, there were around 828 million people globally affected by hunger in 2021, which is an increase of 46 million people compared to 2020. Furthermore, in February 2022, according to a report published by the World Food Programme, an Italy-based organization of the United Nations that provides food assistance, around 345.2 million people are projected to be food insecure in 2023, which is double compared to 2020 and 200 million more compared to pre-pandemic levels. Also, more than 900,000 people around the globe are fighting the food crisis. Therefore, the growing demand for food will drive the sulfur fertilizer market.
Product innovations are a key trend gaining popularity in the sulfur fertilizers market going forward. Major companies operating in the sulfur fertilizers market are developing innovative products to strengthen their position in the market. For instance, in February 2023, Vantage AG, a UK-based manufacturer of liquid sulfur, launched Nanoparticle-based foliar fertilizer. The very effective nanoparticle composition used in this new technique is intended to coat and enter plant tissue. The newly developed liquid sulfur product has sulfur particles smaller than one nanometer. The nutrient can be fully bioavailable and swiftly taken and metabolized by the plant thanks to these little particles.
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Major Key Players of the Market:
Nutrien Ltd.; Yara International ASA; The Mosaic Company; K+S Minerals and Agriculture GmbH; Israel Chemicals Limited; EuroChem Group AG; Nufarm Limited; Koch Industries Inc.; Deepak Fertilisers and Petrochemicals Corporation Limited; Coromandel International Limited; Kugler Company; Zuari Agro Chemicals Ltd.; Tiger-Sul Products LLC; Sulphur Mills Ltd.; Mitsui & Co. Ltd.; Nutri-Tech Solutions Pty. Ltd.; Achema AB; Abu Dhabi Fertilizer Industries WLL; Devco Australia Holdings Pty. Ltd.; Haifa Group; Uralchem Group; Tessenderlo Kerley Inc.; Royal Dutch Shell plc; Balchem Corporation; Keg River Chemical corp; ATP Nutrition Ltd.; Rural Liquid Fertilizers; Agrium; COMPO EXPERT GmbH; The Potash Corporation
Sulfur Fertilizers Market 2024 Key Insights:
• The sulfur fertilizers market size will grow to $5.55 billion in 2028 at a compound annual growth rate (CAGR) of 3.5%.
• Sulfur Fertilizer Market Positioned For Growth Amid Rising Demand For Food Security
• Innovative Advancements Transforming The Sulfur Fertilizers Market
• Asia-Pacific was the largest region in the Sulfur Fertilizers market in 2023
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