Global Fertilizer Additives Market to Reach New Heights by 2033: Comprehensive Size and Share Analysis

 

The global demand for fertiliser additives is valued at $3.34 billion in 2023 and is expected to reach $4.7 billion by the end of 2033. Over the next ten years (2023-2033), the worldwide fertiliser additives market is expected to grow at a 3.4% CAGR. The market is set to be dominated by Asia Pacific throughout the forecast period owing to the presence of a strong agricultural sector in this region.

Growing global population and rising demand for agricultural commodities are expected to drive sales of fertiliser additives in the future years. Rising awareness of the negative impacts of chemical fertilisers, combined with the implementation of severe mandates to ensure sustainability, has encouraged fertiliser additive manufacturers to use natural and bio-based components.

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This elaborate fertilizer additives market research study by skilled analysts at Fact.MR, a market research and competitive intelligence provider has mentioned new developments made by leading companies such as Arkema S.A., Chemipol S.A., and Clariant AG.

Key Takeaways from Market Study:

·        In 2023, the worldwide fertiliser additives market is estimated to be worth $3.34 billion.

·        Over the next decade, global demand for fertiliser additives is expected to grow at a 3.4% CAGR.

·        By 2033, the fertiliser additives market is expected to generate $4.7 billion.

·        Key market drivers include precision agriculture adoption, increased commodity demand, food shortage measures, and global population growth.

·        The market for fertiliser additives is expected to be limited by high raw material costs and the negative impact of chemical fertilisers on the environment. • The Asia Pacific region now holds over 50% of the worldwide market share.

·        Anti-caking fertilizer additives are projected to account for a dominant market share over the decade.

“Fertilizer additive manufacturing companies should shift their focus from agricultural economies to other countries to expand their business potential on a global scale,” says a Fact.MR analyst

Winning Strategy

Fertiliser additive makers are investing in the research and development of novel additions that meet evolving sustainability standards. Companies can also focus on increasing their product line by introducing new products and targeting new audiences.

Leading makers of fertiliser additives are focussing on broadening their product offerings by introducing new items and developing strategies that enable them to connect with new target markets.

  • In April 2020, BASF, the largest chemical producer in the world, announced its entry into the protected urea space launch of a urease inhibitor named Limus Clear. The product was designed to be used with liquid fertilizer to minimize the loss of nitrogen and support crop development.

Where Should Fertilizer Additive Vendors Invest in the North American Region?

The fertiliser additives market in North America is mainly untouched by changing consumer demands. Nitrogen, urea, and phosphorus-based fertilisers continue to dominate the market in nations such as Canada, Mexico, and the United States, allowing fertiliser additive manufacturers to continue operations without significant changes.
Fertiliser additive sales are likely to increase in Mexico and Canada as the emphasis shifts towards maximising agricultural output to satisfy the growing demands of their populations. Furthermore, the existence of significant fertiliser manufacturers in the United States makes it a potentially lucrative market for fertiliser additive firms in the future.

Source: https://www.globenewswire.com/news-release/2023/08/02/2716815/0/en/Fertilizer-Additives-Market-to-Reach-US-4-7-Billion-with-3-4-CAGR-by-2033-Fact-MR-Study.html

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