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 world population and surging demand for agricultural commodities are extrapolated to be key factors promoting sales of fertilizer additives over the coming years. Rising awareness regarding the adverse effects of chemical fertilizers and the implementation of stringent mandates to ensure sustainability has pushed fertilizer additives companies to opt for natural and bio-based ingredients.

This comprehensive fertiliser additives market research analysis conducted by expert analysts at Fact.MR, a market research and competitive intelligence company, includes recent innovations made by prominent businesses such as Arkema S.A., Chemipol S.A., and Clariant AG.

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Key Takeaways from Market Study:

  • The global fertilizer additives market stands at a valuation of US$ 3.34 billion in 2023.
  • Worldwide demand for fertilizer additives is projected to increase at a CAGR of 3.4% over the next ten years.
  • By 2033-end, the market for fertilizer additives is set to attain a revenue of US$ 4.7 billion.
  • Growing adoption of precision agriculture, increasing demand for agricultural commodities, rising focus on initiatives to solve food shortages, and expanding world population are key market drivers.
  • High cost of raw materials and the adverse effect of chemical fertilizers on the environment are projected to be major restraints for market expansion.
  • Fertilizer additive demand in the Asia Pacific region currently accounts for more than 50% of the global 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 fertiliser additive manufacturers are focussing on broadening their product offerings by introducing new items and executing strategies that allow them to connect with new target customers.
BASF, the world's largest chemical maker, announced its debut into the protected urea arena with the launch of Limus Clear, a urease inhibitor. The product was developed to be used in conjunction with liquid fertiliser to reduce nitrogen loss and promote crop growth.

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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