Press release
Fertilizer & Agricultural Chemical Market to Surpass US$ 785 Billion by 2034 Amid Rising Food Security Needs
Fertilizer & Agricultural Chemical Market
In several countries, governments offer subsidies for fertilizers and pesticides to help farmers and guarantee food security. These policies are positively influencing the fertilizer & agricultural chemical market size expansion, as they primarily promote the use of farming inputs. Programs that support sustainable practices are driving consumer demand for environment-friendly goods, as per industry analysis.
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Key Takeaways from Market Study:
1. Revenue from the global fertilizer & agricultural chemical market is estimated at US$ 452.66 billion in 2024.
2. The market is projected to grow at a CAGR of 5.7% through 2034.
3. By the end of 2034, the market is expected to reach a valuation of US$ 785.26 billion.
4. Rising global population is driving increased demand for food production, boosting fertilizer use.
5. Technological advancements in precision agriculture are enhancing fertilizer efficiency
Leading Players Driving Innovation in the Fertilizer & Agricultural Chemical Market:
Coromandel International Limited; K+S Aktiengesellschaft; OCI N.V.; Shandong Hualu Hengsheng Group Co., Ltd.; Acron Group; ICL Group Ltd.; Yara International ASA; Nutrien Ltd.; PhosAgro PJSC; CF Industries Holdings, Inc.; Dhanuka Agritech; Indian Farmers Fertiliser Cooperative Limited (IFFCO)
Market Overview and Growth Drivers:
Rising Demand for Food Security
A growing global population continues to place pressure on food production systems. Fertilizers and agricultural chemicals are essential for enhancing crop yields, addressing soil nutrient deficiencies, and mitigating the effects of climate-related stressors.
Technological Advancements in Agriculture
The integration of precision farming technologies, such as GPS-guided machinery and real-time soil monitoring, is helping farmers apply inputs more efficiently. This leads to increased crop productivity while minimizing input waste and environmental impact.
Regional Outlook:
East Asia Emerges as a Growth Leader
East Asia is forecasted to exhibit the highest regional CAGR of 7.0% through 2034, driven by rapid agricultural development, strong government support, and increasing adoption of advanced agrochemical solutions.
North America Holds Strong Market Share
North America is expected to generate US$ 95.78 billion in revenue by 2024, with the United States contributing US$ 85.8 billion. This is attributed to large-scale commercial farming, strong R&D infrastructure, and supportive agricultural policy frameworks.
China Set to Reach Significant Milestone
China's fertilizer and agricultural chemical market is projected to hit US$ 95.34 billion by 2034, driven by expanding agribusiness operations and efforts to secure national food self-sufficiency.
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More Valuable Insights on Offer:
Fact.MR, in its new offering, presents an unbiased analysis of the Fertilizer & Agricultural Chemical Market, presenting historical data for 2020 to 2024 and forecast statistics for 2025 to 2035.
The fertilizer and agricultural chemical market is segmented based on product & service, major market, and region. By product & service, the market includes fertilizers, pesticides, and other agricultural chemicals.
In terms of major market segments, it caters to wheat growers, fruit & vegetable growers, corn growers, rice growers, non-agricultural users, cotton growers, soybean growers, and other cereals producers. Geographically, the market is divided into key regions such as North America, Western Europe, Eastern Europe, Latin America, East Asia, South Asia & Pacific, and the Middle East & Africa.
Check out More Related Studies Published by Fact.MR Research:
Agrochemical Market - https://www.factmr.com/report/agrochemical-market
Organic Fertilizer Market - https://www.factmr.com/report/organic-fertilizer-market
Climate Smart Fertilizer Market - https://www.factmr.com/report/climate-smart-fertilizer-market
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