Indian Fertilizer Market Catalyzed by Increasing Demand for Food Crops

DELHI, INDIA, August 29, 2022 /EINPresswire.com/ -- The latest report by IMARC Group, titled “Indian Fertilizer Market: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2022-2027,” finds that the market size of fertilizer industry in India reached a value of INR 858 Billion in 2021. Fertilizers are chemical substances containing nutrients in a known amount, which are applied directly or in an aqueous solution to the soil or plant. They maintain soil fertility and improve the development of crops, yield, as well as crop quality. Fertilizers play a pivotal part in the Indian agricultural scenario as they provide vital nutrients to the crops and increase agricultural production. Moreover, they are key contributors to the success of the green revolution, which aided in the subsequent self-reliance in food grain production. Nowadays, fertilizers are available in nitrogenous, phosphatic, potash, and micronutrient variants and can be applied on a wide variety of grains, cereals, pulses, oilseed, fruits and vegetables, and commercial crops. Looking forward, IMARC Group expects the market to reach INR 1,131 Billion by 2027, exhibiting a CAGR of 4.8% during 2022-2027.

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India Top Fertilizer Manufacturing Companies :

• Coromandel International Limited
• Deepak Fertilizers and Petrochemicals Corporation Limited
• Fertilizers And Chemicals Travancore Limited (FACT)
• Gujarat Narmada Valley Fertilizers & Chemicals Limited (GNFC)
• Gujarat State Fertilizers & Chemicals Limited (GSFC)
• Hindustan Fertilizer Corporation Limited (HFCL)
• Indian Farmers Fertilizer Cooperative Limited (IFFCO)
• Krishak Bharati Cooperative Limited (KRIBHCO)
• MADRAS FERTILIZERS LIMITED

Indian Fertilizer Market Trends:

India is one of the top producers of agricultural products, such as pulses, wheat, rice, groundnut, potatoes, and onions. With the continuous population growth and the increasing demand for food crops, the demand for fertilizers has escalated in the country. In addition, with the increasing levels of urbanization and decreasing arable land, farmers are rapidly utilizing fertilizers to improve their production in India. Moreover, the Government of India is implementing initiatives and providing subsidies to produce high-quality seeds and cluster frontline demonstrations through Krishi Vigyan Kendra (KVKs), which is propelling the demand for fertilizers. For instance, various programs undertaken by the National Food Security Mission (NFSM) are increasing the food productivity. They also reduce the imports of fertilizers, which is facilitating the production of domestic fertilizers in India. Furthermore, governing bodies are offering the necessary support to the farmers through diversified schemes and introducing new technologies to develop enhanced fertilizers at subsidized rates, which is positively influencing the market growth.

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Key Market Segmentation:

Breakup by Product Type:

• Chemical Fertilizers
• Biofertilizers

Breakup by Segment:

• Complex Fertilizers
• DAP
• MOP
• Urea
• SSP
• Others

Breakup by Formulation:

• Liquid
• Dry

Breakup by Application:

• Farming
o Grains and Cereals
o Oilseeds
o Fruits and Vegetables
o Others

• Gardening

Breakup by Region

• East India
• North India
• South India
• West India

TOC for the Indian Fertilizer Market Research Report:

• Preface
• Scope and Methodology
• Executive Summary
• Introduction
• Indian Fertilizer Market
• SWOT Analysis
• Value Chain Analysis
• Price Analysis
• Competitive Landscape

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IMARC Group is a leading market research company that offers management strategy and market research worldwide. We partner with clients in all sectors and regions to identify their highest-value opportunities, address their most critical challenges, and transform their businesses.

IMARC’s information products include major market, scientific, economic and technological developments for business leaders in pharmaceutical, industrial, and high technology organizations. Market forecasts and industry analysis for biotechnology, advanced materials, pharmaceuticals, food and beverage, travel and tourism, nanotechnology and novel processing methods are at the top of the company’s expertise.

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