North America Fertilizer Market Size, Share, and COVID-19 Impact Analysis, By Form (Dry, Liquid), By Application (Agriculture, Horticulture, and Gardening), By Product (Organic, Inorganic), and North America Fertilizer Market Insights, Industry Trend, Forecasts to 2032Industry: Agriculture
North America Fertilizer Market Insights Forecasts to 2032.
- The North America Fertilizer Market Size was valued at USD 26.8 Billion in 2022.
- The Market is Growing at a CAGR of 1.2% from 2022 to 2032
- The North America Fertilizer Market Size is expected to reach USD 30.2 Billion by 2032
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The North America Fertilizer Market Size was valued at USD 26.8 Billion in 2022. The North America Fertilizer Market is expected to reach USD 30.2 Billion by 2032, at a CAGR of 1.2% during the forecast period 2022 to 2032. The rising demand for environmentally friendly agricultural practices will propel the market forward. Fertilizers are natural or synthetic substances that are added to soil in order to aid plants grow and nourish themselves.
The fertilizer market plays a vital role in supporting the region's agricultural sector by providing essential nutrients to crops and improving overall soil fertility. Fertilizers are widely used by farmers to enhance crop yields and ensure food security.
The North America fertilizer market is expected to witness steady growth in the coming years. Factors such as population growth, increasing food demand, technological advancements, and the need for sustainable agriculture will drive the market. Additionally, the rising trend of precision farming, organic fertilizers, and the integration of digital technologies in agriculture will shape the future of the market.
Governments across North America are launching initiatives that promote local compost production, providing farmers with more options. For example, the United States Department of Agriculture (USDA) disclosed plans in March 2022 to support additional fertilizer production for American farmers in order to address and overcome the obstacle of rising costs. One of these plans is to invest USD 250 million in a new grant program to support novel, independent, and beneficial fertilizer production in the United States.
In terms of value and volume, agriculture dominates fertilizer consumption in North America. The United States controls approximately 69.0% of the total available arable land in North America. In this, 84.0% of the land is used for field crop cultivation.
This research report categorizes the market for North America fertilizer market based on various segments and regions and forecasts revenue growth and analyzes trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the North America fertilizer market. Recent market developments and competitive strategies such as expansion, product launch, and development, partnership, merger, and acquisition have been included to draw the competitive landscape in the market. The report strategically identifies and profiles the key market players and analyses their core competencies in each sub-segment of the North America fertilizer market.
North America Fertilizer Market Report Coverage
|Market Size in 2022:||USD 26.8 Billion|
|Forecast Period 2022-2032 CAGR:||1.2%|
|2032 Value Projection:||USD 30.2 Billion|
|Historical Data for:||2020-2021|
|No. of Pages:||200|
|Tables, Charts & Figures:||120|
|Segments covered:||By Form, By Application, By Product.|
|Companies Covered:||Sigma Agriscience LLC, Scotts Miracle-Gro Company, California Organic Fertilizers, CF Industries, BASF SE, Yara International, The Mosaic Company, Trammo, Terra Nitrogen Company, Agrium, Others|
|Pitfalls & Challenges:||COVID-19 Empact, Challenge, Future, Growth, & Analysis|
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The continuously growing population in North America and the increasing demand for food put significant pressure on the agricultural sector. To meet the rising food requirements, farmers need to enhance crop yields and improve agricultural productivity. Fertilizers play a crucial role in providing essential nutrients to crops, thereby supporting increased agricultural production.
Governments in North America often implement various initiatives and subsidies to support the agricultural sector and promote sustainable farming practices. These initiatives aim to provide financial assistance to farmers, improve access to fertilizers, and encourage the adoption of environmentally friendly practices. Government support plays a significant role in driving the demand for fertilizers in the region.
Expansion of Commercial Farming and Agribusiness: The expansion of commercial farming and agribusiness in North America has fueled the demand for fertilizers. Large-scale farms, driven by economies of scale and mechanization, require efficient fertilizer management to maximize productivity. Agribusinesses, including crop consultants, cooperatives, and retail chains, play a vital role in disseminating knowledge and providing farmers with access to fertilizers.
The North America fertilizer market is influenced by the volatility in raw material prices, particularly for key components such as nitrogen, phosphorus, and potassium. These raw materials, including natural gas, phosphate rock, and potash, are subject to global price fluctuations. Price volatility affects the profitability of fertilizer manufacturers and can result in higher costs for farmers, impacting their purchasing decisions.
The demand for fertilizers is seasonal, driven by planting and harvesting seasons. Weather variability, such as droughts, floods, or extreme temperature fluctuations, can affect agricultural productivity and, subsequently, the demand for fertilizers. Unpredictable weather patterns can disrupt farming cycles, leading to fluctuations in fertilizer demand and affecting market stability.
The North America Fertilizer Market share is segmented into form, application, and product.
- The dry segment is expected to hold the largest share of the North America fertilizer market during the forecast period.
Based on the form, the North America fertilizer market is segmented into dry and liquid form. Among these, the dry segment is expected to hold the largest share of the North America fertilizer market during the forecast period. The growth can be attributed to several factors, including the ease of handling, longer shelf life, and cost-effectiveness of dry fertilizers. Additionally, the widespread use of mechanized farming practices in North America favors the use of dry form fertilizers due to their compatibility with large-scale application equipment.
- The agriculture segment is expected to hold the largest share of the North America fertilizer market during the forecast period.
Based on the application, the North America fertilizer market is classified into agriculture, horticulture, and gardening. Among these, the agriculture segment is expected to hold the largest share of the North America fertilizer market during the forecast period. The growth can be attributed due the vast scale of agricultural activities in the region, including large-scale farming operations and extensive crop cultivation. The demand for fertilizers in agriculture is driven by the need to optimize crop productivity, improve soil fertility, and achieve sustainable farming practices. The agricultural sector in North America heavily relies on fertilizers to meet the nutrient requirements of crops and ensure optimal yields.
- The inorganic segment is expected to hold the largest share of the North America fertilizer market during the forecast period.
Based on the product, the North America fertilizer market is classified into organic and inorganic. Among these, the inorganic segment is expected to hold the largest share of the North America fertilizer market during the forecast period. The growth can be attributed due to several factors, including the widespread use of conventional farming methods, the availability of inorganic fertilizers in various formulations and concentrations, and their ability to provide quick nutrient uptake for high-yield crop production. Inorganic fertilizers have been extensively used in conventional agriculture due to their efficiency in addressing immediate nutrient requirements and their adaptability to large-scale farming operations.
The report offers the appropriate analysis of the key organizations/companies involved within the North America fertilizer market along with a comparative evaluation primarily based on their product offering, business overviews, geographic presence, enterprise strategies, segment market share, and SWOT analysis. The report also provides an elaborative analysis focusing on the current news and developments of the companies, which includes product development, innovations, joint ventures, partnerships, mergers & acquisitions, strategic alliances, and others. This allows for the evaluation of the overall competition within the market.
List of Key Companies
- Sigma Agriscience LLC
- Scotts Miracle-Gro Company
- California Organic Fertilizers
- CF Industries
- BASF SE
- Yara International
- The Mosaic Company
- Terra Nitrogen Company
Key Target Audience
Ø Market Players
Ø Government Authorities
Ø Consulting and Research Firm
Ø Venture capitalists
Ø Value-Added Resellers (VARs)
- On March 2021, Mosaic has announced a collaboration with Sound Agriculture to develop and market a nutrient efficiency product. Mosaic will oversee field development, regulatory, sales, and marketing efforts, while Sound Agriculture will focus on active ingredient manufacturing and product formulation. The product uses Sound Agrculture Bio-inspired chemistry to activate the soil microbiome, allowing plants to access essential nutrients and growers to optimise fertiliser inputs.It is scheduled to be released in the United States in 2023.
This study forecasts revenue at, regional, and country levels from 2019 to 2032. Spherical Insights has segmented the North America Fertilizer Market based on the below-mentioned segments:
North America Fertilizer Market, By Form
North America Fertilizer Market, By Application
North America Fertilizer Market, By Product
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