South Korea Fertilizer Market Size, Share, and COVID-19 Impact Analysis, By Product Type (Chemical Fertilizer, Biofertilizers), By Product Form (Dry, Liquid), and South Korea Fertilizer Market Insights, Industry Trend, Forecasts to 2035.

South Korea Fertilizer Market Insights Forecasts to 2035

•  The South Korea Fertilizer Market Size is Expected to Grow at a CAGR of around 4.20% from 2024 to 2035  

• The South Korea Fertilizer Market Size is Expected to reach a significant share by 2035.   

According to a research report published by Spherical Insights & Consulting, The South Korea Fertilizer Market Size is expected to Grow 4.20% CAGR from 2024 to 2035, is expected to reach a significant share by 2035. Key factors driving the market include the government's imposition of supportive policies and subsidies, the growing emphasis on agricultural expansion, recent innovations in fertilizer formulations, the ongoing shift towards organic farming, and the rapid changes in climate patterns.

Market Overview

The fertilizer market in South Korea encompasses the production, distribution, and consumption of materials applied to soil or plants to supply vital nutrients, thereby improving crop growth and yield, are all included in the South Korean fertilizer market. A wide variety of products, such as chemical fertilizers, biofertilizers, and specialty fertilizers like controlled-release formulations, define this market. In agriculture, fertilizers are used extensively to improve soil fertility, boost crop yield, boost plant growth, aid in seed germination, balance soil pH, improve product quality, decrease soil erosion, aid in water conservation, improve pest resistance, and encourage healthy root development. Increased agricultural productivity, economic expansion, food security, environmental preservation, effective land use, and improved market competitiveness are just a few advantages they provide. Moreover, fertilizers are renowned for their affordability, simplicity of use, instant nutrient availability, formula customization, and suitability for a range of crop kinds and soil types.

Report Coverage

This research report categorizes the market for the South Korea fertilizer market based on various segments and regions and forecasts revenue growth and analyses trends in each submarket. The report analyses the key growth drivers, opportunities, and challenges influencing the South Korea 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 South Korea fertilizer market.

Driving Factors

The market is expanding as a result of rising consumer awareness of the importance of eating food that is safe for the environment and health, which increases demand for sustainable and organic farming inputs. Additionally, the market is expanding favorably due to rising knowledge of soil health and the necessity of nutrient management. In addition, the industry is growing faster because to the growing distribution and transportation networks that increase fertilizer availability. Furthermore, growing crop prices are encouraging farmers to apply fertilizers to increase yield and profit margins, which is significantly accelerating market expansion. Furthermore, the market is expanding due to the growing acceptance of biofertilizers because of its advantages for the environment and the economy.

Restraining Factors

The fertilizer industry faces difficulties due to strict environmental regulations on the production of synthetic fertilizers and rising demand for sustainable farming methods. It may not be immediately possible for all producers to make the substantial investment in research and development needed to transition to environmentally friendly fertilizers.

Market Segmentation

The South Korea fertilizer market share is classified into product type and product form

• The chemical fertilizers segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea fertilizer market is segmented by product type into chemical fertilizer, biofertilizers. Among these, the chemical fertilizers segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. These consist of phosphatic, potassic, and nitrogenous fertilizers, which are frequently utilized in traditional farming because of their affordability and instantaneous nutrient availability. Because of their capacity to increase crop yield, chemical fertilizers are preferred, and government policies that support agricultural productivity and food security support this practice.

• The dry segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period.

The South Korea fertilizer market is segmented by product from into dry and liquid. Among these, the dry segment held a significant share in 2024 and is expected to grow at a significant CAGR during the forecast period. Because they contain less moisture, dry fertilizers are less likely to cake and have a longer shelf life. This facilitates their handling and long-term storage, which is essential for large-scale farming operations.

Competitive Analysis:

The report offers the appropriate analysis of the key organizations/companies involved within the South Korea 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

• Namhae Chemical Corporation
• KG Chemical Co., Ltd.
• Lotte Chemical Corporation
• Kumho Petrochemical Co., Ltd.
• Daeil Fertilizer Co., Ltd.
• Others

Recent Developments:

• In June 2024, Nousbo, a South Korean agricultural technology company, had teamed up with SK Leaveo, an SKC subsidiary specializing in biodegradable materials, to commercialize environmentally friendly controlled-release fertilizers (CRFs). Polybutylene adipate terephthalate (PBAT) was used to make the biodegradable resin coatings on these fertilizers. These coatings naturally broke down after nutrient release, lessening their negative effects on the environment. In line with global trends toward sustainable agriculture, the partnership had aimed to introduce these products by the first quarter of 2025

Key Target Audience

• Market Players
• Investors
• End-users
• Government Authorities 
• Consulting and Research Firm
• Venture capitalists
• Value-Added Resellers (VARs)

Market Segment

This study forecasts revenue at South Korea, regional, and country levels from 2020 to 2035. Spherical Insights has segmented the South Korea fertilizer market based on the below-mentioned segments:

South Korea Fertilizer Market, By Product Type

• Chemical Fertilizer
• Biofertilizers

South Korea Fertilizer Market, By Product Form

• Dry
• Liquid