Compound Fertilizer Global Market 2024 To Reach $11.77 Billion By 2028 At Rate Of 6.2%

The Business Research Company's Compound Fertilizer Global Market Report 2024 – Market Size, Trends, And Global Forecast 2024-2033

LONDON, GREATER LONDON, UNITED KINGDOM, October 2, 2024 /EINPresswire.com/ -- The compound fertilizer market has experienced robust growth in recent years, expanding from $8.68 billion in 2023 to $9.27 billion in 2024 at a compound annual growth rate (CAGR) of 6.8%. The growth in the historic period can be attributed to agricultural intensification, green revolution, industrialization of agriculture, government subsidies and support, crop diversification and specialization.

What Is The Estimated Market Size Of The Global Compound Fertilizer Market And Its Annual Growth Rate?
The compound fertilizer market is projected to continue its strong growth, reaching $11.77 billion in 2028 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to population growth and food demand, technological advancements in production, sustainable agriculture practices, climate change adaptation, global market expansion.

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Growth Driver Of The Compound Fertilizer Market
Increased production of crops such as rice, wheat and corn is expected to boost the growth of the compound fertilizer market going forward. The production of crops refers to the process of cultivating crops for domestic and commercial reasons. Compound fertilizers are widely used for the production of wheat, corn, rice, sorghum, fruits, vegetables and fruits for providing uniform distribution of micronutrients throughout the root zone that increases soil fertility and protects the environment, as a result, increased crop production increases the demand for the compound fertilizers market.

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Who Are the Leading Competitors in the Compound Fertilizer Market Share?
Key players in the market include Hanfeng Evergreen, Kingenta Ecological Engineering Co. Ltd., Luxi Chemical Group Co. Ltd., Stanley Fertilizer Co. Ltd., WengFu Group, Hubei Xinyangfeng Fertilizer Industry Co. Ltd., Yara International ASA, Sinochem Corporation, The Mosaic Company, EcoChem, K+S Aktiengesellschaft, ICL Group Ltd., Helena Agri-Enterprises LLC, Haifa Negev technologies ltd., Georgia-Pacific LLC, Lebanon Seaboard Corporation, EuroChem Group AG, Nutrien Ltd., Garsoni Fertilizer Inc., Wilbur-Ellis Company LLC, Sinofert Holdings Limited, OCP Group, PhosAgro, Agrium, Growth Products Ltd., Potash Corporation of Saskatchewan Inc., Kugler Company, Indian Farmers Fertiliser Co-operative Limited, Israel Chemicals Ltd., Sociedad Química y Minera, Uralkali.

Which Key Trends Are Driving Compound Fertilizer Market Growth?
Major companies operating in the market are launching new products, such as GroShakti Plus, to sustain their position in the market. For instance, in September 2021, Coromandel International, an Indian chemicals company, introduced GroShakti Plus, an NPK (nitrogen, phosphorus, and potassium) fertilizer. GroShakti Plus is a superior complex fertilizer with EnPhos Technology and fortified zInc., designed to enhance crop yield and quality.

How Is The Global Compound Fertilizer Market Segmented?
1) By Type: Two-Element Compound Fertilizer, Three-Element Compound Fertilizer
2) By Application: Rice, Wheat, Corn, Fruit Trees, Vegetables, Tobacco, Other Applications

Geographical Asia-Pacific America Leading The Compound Fertilizer Market
Asia-Pacific was the largest region in the market in 2023. The regions covered in the report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa.

Compound Fertilizer Market Definition
Compound fertilizers are fertilizers with two or more necessary plant nutrients in a single fertilizer that are applied to the soil or directly to the plant to maintain or boost fertility in order to produce high-quality crops.

Compound Fertilizer Global Market Report 2024 from TBRC covers the following information:
•Market size data for the forecast period: Historical and Future
•Macroeconomic factors affecting the market in the short and long run
•Analysis of the macro and micro economic factors that have affected the market in the past five years
•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.

An overview of the global compound fertilizer market report covering trends, opportunities, strategies, and more
The Compound Fertilizer Global Market Report 2024 by The Business Research Company is the most comprehensive report that provides insights on compound fertilizer market size, compound fertilizer market drivers and trends, compound fertilizer market major players and compound fertilizer market growth across geographies. This 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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