Compound Fertilizer Industry to See Robust Expansion, Valued at $12.28 Billion by 2029

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What Is the Projected CAGR for the Compound Fertilizer Market from 2024 to 2025?
The size of the compound fertilizer market has consistently expanded over the past few years. It is predicted to rise from $9.2 billion in 2024 to $9.66 billion in 2025, with a compound annual growth rate (CAGR) of 5.0%. The historic surge in growth is due to agricultural intensification, the green revolution, the industrialization of agriculture, governmental aid and subsidies, and an increase in crop diversification and specialization.

What are the Expected Market Size and CAGR for Compound Fertilizer by 2029?
In the forthcoming years, the compound fertilizer market is projected to witness a substantial growth, reaching up to $12.28 billion in 2029, with a Compound Annual Growth Rate (CAGR) of 6.2%. This expected growth in the said period can be attributed to factors such as increasing population and the demand for food, advancements in production technology, sustainable farming methods, adaptation to climate change, and the expansion of the global market. Some key trends during the forecast period include challenges from climate change, regulatory alterations and compliance, tailor-made mixes and preparations, precision farming methods, and environmental sustainability.

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Which Factors Are Driving the Global Compound Fertilizer Market Expansion?
The surge in crop production including rice, wheat, and corn is projected to fuel the expansion of the compound fertilizer market. Crop production pertains to the practice of growing crops for both domestic and commercial purposes. Compound fertilizers have a wide application range, being extensively utilized in cultivating fruits, vegetables, wheat, corn, rice, and sorghum. They provide an even distribution of micronutrients throughout the root zone, enhancing soil fertility and environmental protection, thereby contributing to increased crop yield. This rising crop production subsequently amplifies the demand in the compound fertilizers market. To illustrate, in January 2023, the Australian Bureau of Statistics, an Australian government entity, reported that the gross value of wheat escalated by 33% to $13 billion in 2021-22. Consequently, the amplified production of crops such as rice, wheat, and corn is propelling the compound fertilizer market's growth.

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Which Segment Currently Holds the Largest Share of the Compound Fertilizer Market?
The compound fertilizer market covered in this report is segmented -

1) By Type: Two-Element Compound Fertilizer, Three-Element Compound Fertilizer
2) By Application: Rice, Wheat, Corn, Fruit Trees, Vegetables, Tobacco, Other Applications

Subsegments:
1) By Two-Element Compound Fertilizer: Nitrogen-Phosphorus (NP), Nitrogen-Potassium (NK), Phosphorus-Potassium (PK)
2) By Three-Element Compound Fertilizer: Nitrogen-Phosphorus-Potassium (NPK), Nitrogen-Phosphorus-Sulfur (NPS), Nitrogen-Potassium-Sulfur (NKS), Phosphorus-Potassium-Sulfur (PKS)

Which Major Trends Are Shaping the Future of the Compound Fertilizer Industry?
The trend of investing in compound fertilizers is rising in prominence within the compound fertilizer market. Significant research institutions and businesses are directing their finances towards the enhancement of this market. For example, in August 2022, a significant investment of $26 million was made by the Georgia Institute of Technology, a public university in America, along with the National Science Foundation, a government agency in the United States. This fund was specifically allocated towards the creation of new technology and initiatives to absorb, recycle, and manufacture decarbonized nitrogen-based fertilizers (NBFs) from nitrogen cycle pollutants. This effort aims at transforming the United States into an economy focused on the nitrogen cycle.

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Which Key Players Dominate the Compound Fertilizer Industry Globally?
Major companies operating in the compound fertilizer market include Hanfeng Evergreen, Kingenta Ecological Engineering Co. Ltd., Luxi Chemical Group Co. Ltd., Stanley Fertilizer Co. Ltd., WengFu Group, Hubei Xinyangfeng Fertilizer Industry Co. Ltd., Yara International ASA, Sinochem Corporation, The Mosaic Company, EcoChem, K+S Aktiengesellschaft, ICL Group Ltd., Helena Agri-Enterprises LLC, Haifa Negev technologies ltd., Lebanon Seaboard Corporation, EuroChem Group AG, Nutrien Ltd., Garsoni Fertilizer Inc., Wilbur-Ellis Company LLC, Sinofert Holdings Limited, OCP Group, PhosAgro, Agrium, Growth Products Ltd., Potash Corporation of Saskatchewan Inc., Kugler Company, Indian Farmers Fertiliser Co-operative Limited, Israel Chemicals Ltd., Sociedad Química y Minera, Uralkali

What Are the Fastest-Growing Regions in the Compound Fertilizer Market?
Asia-Pacific was the largest region in the compound fertilizer market in 2024. The regions covered in the compound fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa

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