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Fertilizer Additive Market is expected to reach US$ 4,050.19 Million by 2028

NEW YORK, UNITED STATES, January 31, 2023 /EINPresswire.com/ -- According to The Insight Partners latest study, titled "Fertilizer Additive Market Forecast to 2028 - Global Analysis by Form and Type," the market is expected to grow from US$ 3,512.65 million in 2022 to US$ 4,050.19 million by 2028; it is expected to grow at a CAGR of 2.4% from 2022 to 2028.

The demand for fertilizers in many countries has been growing due to the increasing need for food grains owing to the rising population. According to the Food and Agriculture Organization of the United Nations (FAO) and the International Food Policy Research Institute (IFPRI), the global food demand is expected to rise by 70% by 2050 due to rising consumer incomes in regions such as Asia, Eastern Europe, and Latin America.

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The increased production of synthetic fertilizers witnessing the enhancement in crop yield. Hence, the manufacturers are focusing on to increase the synthetic fertilizers production on commercial basis along with the blend of fertilizer additives. Therefore, the rising commercial synthetic fertilizer production demand for additives which propels the fertilizer additive market growth.

In addition, a report published by the Intergovernmental Science-Policy Platform on Biodiversity and Ecosystem Services supported the Joint Research Centre’s claims that with the decreasing area of arable land and the rising demand for food across various countries, the usage of fertilizers has increased to boost food production. Hence, the increasing fertilizers in agricultural practices further drives the fertilizer additive market growth.

The rising population of various countries and their governments focus on the development of sustainable agriculture will enable to increase the food production. The growing population and rising need for food security tends to adopt fertilizer additives in fertilizers industry, which is fueling the fertilizer additive market growth. Due to growing urbanization, the available arable land is expected to decrease. As a result, fertilizers are likely to play an essential role in increasing the average crop yields per hectare. However, the quality and performance of fertilizers deteriorates over time, and chemical fertilizers are leading to deteriorate the soil fertility. Fertilizer additives aid in the production, handling, storage, and transportation of fertilizers.

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The additives help fertilizers maintain their shape, limit caking, decrease dust formation during manufacturing of fertilizers, and avoid wetting of fertilizers. Hence, the manufacturers in fertilizers industry has been adopting fertilizer additives rigorously. Thus, the growing use of fertilizers in agricultural practices is estimated to fuel the fertilizer additives market growth.

The key players operating in the global fertilizer additive market include Arkema Group; Solvay; KAO CORPORATION; Chemipol S.A.; Chemsol LLC; Clariant; Dorf Ketal; Michelman, Inc.; Omex Agriculture, Inc.; and Novochem Group. Players operating in the global fertilizer additive market are focusing on providing high-quality products to fulfill customer demand. They are also focusing on strategies such as investments in research and development activities and new product launches.

The fertilizer additive market is bifurcated on the basis of form and type. Based on form, the market is segmented into granular, prilled, and powder. Based on type, the market is segmented into dust-control agent, anti-caking agent, granulation aids, coloring agent, corrosion inhibitors, and others. By geography, the fertilizer additive market is primarily segmented into North America, Europe, Asia Pacific (APAC), the Middle East & Africa (MEA), and South & Central America.

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