Nitrogenous Fertilizers Market Trends, Growth, Share, Size
and 2025 Forecast Research Report 2027
The global nitrogenous fertilizers market
size is projected to
reach USD 140.51 billion by the end of 2026. The massive investments in the
R&D products with active ingredients will aid the growth of the market.
According to a report published by Fortune Business Insights, titled "Nitrogenous
Fertilizers Market Size, Share & Industry Analysis, By Type (Urea, Calcium
Ammonium Nitrate, UAN, Ammonium Sulphate, and Other Nitrogenous Fertilizers),
By Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Turf
& Ornamentals), and Regional Forecast, 2019 – 2026,”
the
market was worth USD 113.70 billion in 2018 and will exhibit a CAGR of 2.73%
during the forecast period, 2019-2026.
Nitrogenous fertilizers are products
that are produced through combination of substances that are inclusive of
nitrogen. The constantly rising global population has created a subsequent
demand for crop produce across the world. Recent advances in agricultural
activities will emerge in favor of the companies operating in the market. The
increasing number of agricultural subsidies will bode well for nitrogenous
fertilizer vendors across the globe. The ability of nitrogenous fertilizers to
improve the nutrient content of agricultural crop produce will lead to a wider
adoption of the product across the world.
Increasing Number of Company Collaborations Will Aid Market Growth
The report encompasses several
factors that have contributed to the growth of the market in recent years. The
increasing number of company mergers and acquisitions has had a massive impact
on the growth of the market. Accounting to the massive demand for crop and crop
produce across the world, large scale companies are looking to acquire smaller
companies with a bid to establishing a stronghold in the market. In November
2019, Nutrien Ltd. announced that it has completed the acquisition of Ruralco
Holdings Ltd. Through this acquisition, the company plans to build on its
existing range of nitrogenous fertilizer products. Due to the massive global
customer reach of the company, this acquisition will not just help the company
growth, but will also have a massive impact on the growth of the market in the
coming years.
Asia Pacific Holds the Highest
market Share; Growing Demand for Crop Produce Will Aid Growth
The report analyses the ongoing
nitrogenous fertilizers market trends across North America, Latin America, Asia
Pacific, and the Middle East and Africa. Among these regions, the market in
Asia Pacific holds the highest market share, driven by the huge demand for crop
produce in several countries across this region. Besides Asia Pacific, the
market in North America will witness considerable growth in the coming years.
As of 2018, the market in North America was worth USD 21.18 billion and this
value is projected to increase further in the coming years.
Browse Complete Details of Research
Insights with TOC:
https://www.fortunebusinessinsights.com/nitrogenous-fertilizers-102532