India Fertilizer Market Report and Forecast 2023-2028

According to the report, the India fertilizer market is projected to grow at a CAGR of 4.85% between 2023 and 2028. Aided by the increasing demand for food production and improvements in agriculture processes, the market is expected to reach a value of USD 1193.79 billion by 2028.

Fertilizers are vital components in the agricultural sector, commonly used to enhance soil fertility and promote plant growth. They supply necessary nutrients like nitrogen, phosphorus, and potassium that are essential for crop growth and yield. Apart from their nutritional properties, fertilizers also help in improving soil structure, promoting nutrient uptake by plants, and enhancing resistance to pests and diseases. They are thus pivotal to the agricultural output and food security in a populous country like India.

The increasing demand for high crop yield to ensure food security for India's burgeoning population is driving the India fertilizer market growth. With the escalating awareness about the role of fertilizers in augmenting crop productivity, there has been a significant shift towards the increased use of these substances, leading to a surge in demand for various types of fertilizers. Additionally, government initiatives to promote the use of fertilizers, like subsidies and educational programs, have further contributed to the rising popularity of fertilizers among Indian farmers.

The expanding application of fertilizers in different crops also significantly contributes to the India fertilizer market expansion. They are used extensively in the cultivation of cereals, fruits and vegetables, pulses, and oilseeds. The growth in these agricultural segments has a direct positive impact on the fertilizer market.

Moreover, the escalating demand for organic farming practices in India has led to a heightened focus on organic fertilizers as a sustainable alternative to synthetic ones. With the rise of environmental consciousness and the increasing popularity of organic produce, organic fertilizers have emerged as a vital component in the development of eco-friendly agricultural practices, thereby boosting the India fertilizer market expansion.

Regionally, Uttar Pradesh leads the market due to its extensive agricultural activities, followed by Maharashtra and Punjab. Nevertheless, states like Madhya Pradesh and Andhra Pradesh are also significant contributors due to their expanding agricultural sectors.

Market Segmentation

The market can be divided based on type, product, formulation, application, and region.

Market Breakup by Type

• Chemical Fertilizer
• Biofertilizer

Market Breakup by Product

• Nitrogenous Fertilizers
• Urea
• Ammonium Nitrate
• Ammonium Sulphate
• Anhydrous Ammonia
• Others
• Phosphatic Fertilizers
• Monoammonium Phosphate (MAP)
• Diammonium Phosphate (DAP)
• Others
• Potash Fertilizers
• Muriate of Potash (MOP)
• Others
• Complex Fertilizers
• Others

Market Breakup by Formulation

• Liquid
• Dry

Market Breakup by Application

• Grains and Cereals
• Pulses and Oilseeds
• Commercial Crops
• Fruits and Vegetables
• Others

Market Breakup by Region

• North India
• West India
• South India
• East and Central India

Competitive Landscape

The report looks into the market shares, plant turnarounds, capacities, investments, and acquisitions and mergers, among other major developments, of the India fertilizer companies.

Some of the major key players explored in the report are as follows:

• Coromandel International Limited
• Chambal Fertilisers and Chemicals Ltd
• Gujarat Narmada Valley Fertilizers and Chemicals Ltd
• Indian Farmers Fertiliser Cooperative Limited (IFFCO)
• Rama Phosphates Limited
• ICL Group Ltd
• The Fertilisers and Chemicals Travancore Limited (FACT)
• Deepak Fertilisers and Petrochemicals Corporation Ltd. (DFPCL)
• Gujarat State Fertilizers & Chemicals Limited
• Rashtriya Chemicals and Fertilizers Limited (RCFL)
• National Fertilizers Limited
• Southern Petrochemical Industries Corporation Ltd
• Others

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The analyst always strives to provide you with the latest information. The numbers in the article are only indicative and may be different from the actual report.