Compound Fertilizer Market Report 2025

The compound fertilizer market size has grown strongly in recent years. It will grow from $9.2 billion in 2024 to $9.8 billion in 2025 at a compound annual growth rate (CAGR) of 6.4%. 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.

The compound fertilizer market size is expected to see strong growth in the next few years. It will grow to $12.65 billion in 2029 at a compound annual growth rate (CAGR) of 6.6%. 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. Major trends in the forecast period include climate change challenges, regulatory changes and compliance, customized blends and formulations, precision agriculture practices, environmental sustainability.

The compound fertilizer market is anticipated to experience growth driven by increased production of key crops such as rice, wheat, and corn. Crop production, involving the cultivation of crops for various purposes, has witnessed a surge, contributing to the rising demand for compound fertilizers. These fertilizers play a crucial role in enhancing soil fertility and ensuring the uniform distribution of micronutrients, benefiting crops such as wheat, corn, rice, sorghum, fruits, and vegetables. For instance, in December 2022, recent reports indicate a significant increase in corn production, with estimates reaching 15.1 billion bushels, a 7% rise from the 2020 figures, according to the United States Department of Agriculture. Additionally, the Australian Bureau of Statistics reported a substantial 33% growth in the gross value of wheat, reaching $13 billion in 2021-22. This increased production of key crops contributes to the expanding demand for compound fertilizers.

The increasing popularity of commercial agriculture is expected to drive the growth of the compound fertilizer market in the future. Commercial agriculture involves the large-scale production of crops and livestock intended for sale and profit generation. This approach contributes to a nation's gross domestic product (GDP) and is often favored over subsistence farming. Compound fertilizers are essential in commercial agriculture, as they supply nutrients, enhance crop yields, improve soil health, and optimize agricultural productivity. For example, according to Invest India, a national investment promotion and facilitation agency based in India, the country has become a net exporter of agricultural products, with exports reaching approximately $50.2 billion in FY2022-23. Thus, the rising popularity of commercial agriculture is fueling the growth of the compound fertilizer market.

A notable trend in the compound fertilizer market is the increasing investments in research and development by major institutions and companies. For instance, in August 2022, the Georgia Institute of Technology's collaboration with the National Science Foundation, which invested $26 million in technology and programs aimed at absorbing, recycling, and manufacturing decarbonized nitrogen-based fertilizers. This initiative seeks to transform the United States into a nitrogen cycle economy. Similarly, the Industrial Development Corporation's $31 million investment in Nitrogen Chemicals of Zambia (NCZ) aims to support the production of fertilizers, including compound fertilizers, reducing the need for imports and fostering domestic production. This focus on innovation and sustainable practices reflects the commitment to advancing the compound fertilizer market and addressing environmental challenges associated with traditional fertilizers.

Major players in the compound fertilizer market are focusing on developing water-soluble fertilizers to enhance nutrient efficiency, boost crop yields, and address the rising demand for sustainable agricultural solutions. Water-soluble fertilizers provide a quick and effective way to deliver nutrients to plants, facilitating faster growth, higher yields, and minimizing nutrient waste through precise application. For example, in June 2023, ICL, a leading Israel-based company in specialty fertilizers, introduced a new range of water-soluble fertilizers in North America. These fertilizers are specifically formulated to cater to the nutrient requirements of crops and are designed to enhance nutrient uptake and efficiency. Their water-soluble formulation enables easy application through various irrigation systems, thereby improving crop growth and yield potential.

In February 2022, The Mosaic Company, a prominent fertilizer producer based in the United States, augmented its market presence through a strategic acquisition. The undisclosed acquisition of Plant Response positioned Mosaic to engage in collaborative efforts focused on the development of new soil health solutions. The primary objective of this collaboration is to offer advanced crop nutrition solutions on a global scale, thereby contributing to the sustainable growth of the agricultural sector. Plant Response, a biotechnology company and the acquired entity, brings innovative approaches to enhance soil health and plays a crucial role in advancing global food production. This strategic move by The Mosaic Company exemplifies the industry's commitment to continuous product development and the formation of strategic partnerships to address evolving agricultural challenges and ensure sustained market growth.

Major companies operating in the compound fertilizer 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., 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.

Asia-Pacific was the largest region in the compound fertilizer market in 2024. The regions covered in the compound fertilizer market report are Asia-Pacific, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the compound fertilizer market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

Compound fertilizers are blended fertilizers that incorporate two or more essential nutrients required for plant growth within a single product. These nutrients are utilized either by applying the fertilizer to the soil or by directly administering it to the plants, aiming to enhance or sustain soil fertility, leading to the production of high-quality crops.

The main categories of compound fertilizers include two-element compound fertilizers and three-element compound fertilizers. Two-element compound fertilizers primarily contain nitrogen and phosphorus as the main chemical elements. These fertilizers find applications in a wide range of crops, including rice, wheat, corn, fruit trees, vegetables, and tobacco, among others.

The compound fertilizers market research report is one of a series of new reports that provides compound fertilizers market statistics, including compound fertilizers industry global market size, regional shares, competitors with a compound fertilizers market share, detailed compound fertilizers market segments, market trends and opportunities and any further data you may need to thrive in the compound fertilizers industry. This compound fertilizers market research report delivers a complete perspective of everything you need, with an in-depth analysis of the current and future scenarios of the industry.

The compound fertilizer market consists of sales of ammonium nitrate, ammonium phosphate, granulation process and liquid fertilizer. Values in this market are ‘factory gate’ values, that is the value of goods sold by the manufacturers or creators of the goods, whether to other entities (including downstream manufacturers, wholesalers, distributors and retailers) or directly to end customers. The value of goods in this market includes related services sold by the creators of the goods.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD, unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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