Nitrogenous Fertilizer Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

The Business Research Company's Nitrogenous Fertilizer Market Growth Analysis With Investment Opportunities For 2024-2033

LONDON, GREATER LONDON, UK, September 11, 2024 /EINPresswire.com/ -- The global nitrogenous fertilizer market is set to experience substantial growth, expanding from $73.41 billion in 2023 to $79.16 billion in 2024, with a compound annual growth rate (CAGR) of 7.8%. Despite past challenges, the market is forecasted to reach $109.37 billion by 2028 at a compound annual growth rate (CAGR) of 8.4%, driven by the rising need for global food security, advancements in precision agriculture, and increased crop rotation practices.

Growing Demand for Fertilizers Fuels Nitrogenous Fertilizers Market
The burgeoning demand for fertilizers is a primary driver of the nitrogenous fertilizers market. Fertilizers are essential for enhancing plant growth and productivity by replenishing essential nutrients in the soil. As the global demand for food rises, so does the need for effective fertilizers. Nitrogenous fertilizers, which are the most commonly used source of nitrogen for plant nutrition, play a crucial role in addressing this need. According to the United Nations Environment Program, pesticide and fertilizer demand has significantly increased, with global sales expected to rise around 4.1% by 2025, totaling approximately USD 309 billion. This growing demand is anticipated to bolster the nitrogenous fertilizers market throughout the forecast period.

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Major Companies and Market Trends
Leading players in the nitrogenous fertilizer market include Sorfert Algeria Spa, OCI NV, Nutrien Ltd., and Yara Fertilisers India Pvt Ltd., among others. Companies are increasingly focusing on innovation, particularly in the realm of nanotechnology. Nano fertilizers, such as the Nano Urea Liquid introduced by Indian Farmers Fertiliser Cooperative Limited (IFFCO), offer enhanced soil fertility, increased crop yields, and reduced environmental impact. This trend highlights the industry's shift towards more sustainable and efficient fertilization solutions.

Key Trends Shaping the Market
Several trends are shaping the nitrogenous fertilizer market:
• Customized Fertilizer Blends: Tailoring fertilizer formulations to specific crop needs.
• Carbon Sequestration: Incorporating practices that help capture and store carbon dioxide.
• Nutrient Management: Improved techniques for managing nutrient application.
• Organic and Natural Fertilizers: Growing interest in eco-friendly and natural fertilization methods.

Market Segmentation
The nitrogenous fertilizer market is segmented as follows:
• By Type: Urea, Ammonium Nitrate, Ammonium Sulfate, Calcium Ammonium Nitrate (CAN), Others Types
• By Crop Type: Cereals and Grains, Oilseeds and Pulses, Fruits and Vegetables, Others Crops
• By Form: Dry, Liquid
• By Application: Soil, Foliar, Fertigation, Other Applications

Regional Insights: Asia-Pacific Leading the Market
Asia-Pacific dominated the nitrogenous fertilizer market in 2023 and is projected to be the fastest-growing region during the forecast period. This region's significant agricultural sector and growing infrastructure development contribute to its market leadership.

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Nitrogenous Fertilizer Global Market Report 2024 from The Business Research Company covers the following information:
• Market size data for the forecast period: Historical and Future
• Market analysis by region: Asia-Pacific, China, Western Europe, Eastern Europe, North America, USA, South America, Middle East and Africa.
• Market analysis by countries: Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA.

Trends, opportunities, strategies and so much more.
The Nitrogenous Fertilizer Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on nitrogenous fertilizer market size, nitrogenous fertilizer market drivers and nitrogenous fertilizer market trends, nitrogenous fertilizer market major players, nitrogenous fertilizer market competitors' revenues, nitrogenous fertilizer market positioning, and nitrogenous fertilizer market growth across geographies. The nitrogenous fertilizer market report helps you gain in-depth insights into opportunities and strategies. Companies can leverage the data in the report and tap into segments with the highest growth potential.

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