Crop Nutrition Market Size, Share, Growth, Trends, and Global Industry Analysis: By Type (Macro Nutrients, Micro Nutrients, Specialty Nutrients, and Others), By Formulation (Liquid Fertilizers, Granular Fertilizers, Slow/Controlled Release, and Others), By Application (Soil, Foliar, Fertigation, and Others),  and Region Forecast 2019-2030

Crop nutrition market size was valued at US$ 5,785.1 million in 2023 and is projected to reach a value of US$ 10,306.6 million by 2030, at a CAGR of 8.6% from 2024-2030. Moreover, the U.S. crop nutrition market is projected to grow significantly, reaching an estimated value of US$ 2,370.3 million by 2032.

The growing global population and increasing food demands, coupled with rising agricultural productivity, are propelling the market. However, the overall trend is affected by environmental concerns and regulatory restrictions on chemical fertilizers apart from raw material price volatility that can hurt profitability. These growth opportunities arise from growing organic farming and the bio stimulant markets plus innovations in systems of nutrient delivery as well as more targeted fertilizer solutions.

Key Players in Crop Nutrition Industry 

The main producers of crop nutrition are Nutrien Ltd., Yara International, Yara International, CF Industries Holdings, The Mosaic Company and OMNIA Holdings. 

Key Takeaways

•    The market for crop nutrition in the Asia-Pacific region is growing.
•    The largest market comes from North America.
•    By type the macronutrients segment holds 42.8% market share.
•    By formulation fertilizers segment holds 47.8% market share.
•    By Application soil segment holds 39.2% market share.

Facts & Figures 

• As of November 2022, global fertilizer consumption reached approximately 190 million metric tons for the 2022 crop year.
• Nutrient Demand: In 2021, the global demand for nitrogen fertilizers was estimated at 113 million tons, driven by increased agricultural production.
• In 2022, U.S. fertilizer exports amounted to 12 million metric tons, marking a 20% increase from the previous year

Key Developments

•   In January 2023: Nutrien Ltd. announced the acquisition of Agrium, attractive its position in the North American crop nutrition market and expanding its product portfolio.
•    In March 2023: Yara International hurled a new line of digital tools designed to optimize nutrient application for farmers, improving efficiency and sustainability.
•    In August 2023: BASF SE unveiled a new slow-release fertilizer product that enhances nutrient efficiency and reduces environmental impact.

Top companies

Nutrien Ltd. represents a powerful global crop input and service company by its merger of Agrium with PotashCorp. They focus on manufacturing product lines like potash, nitrogen, and phosphate fertilizers and operate that way on sustainability and innovations that improve crop yield with the minimum adverse impact on the environment. Their digital platform is also there in the name of Nutrien Ag Solutions providing advisory on agronomic and related crop nutrition solutions. Yara International is a Norwegian company mainly known for nitrogen-based fertilizers and sustainable agriculture. This firm focuses on optimizing nutrient efficiency with innovative products, and it invests heavily in precision agriculture technologies, including digital tools, which facilitate responsible use of nutrients in agriculture.

Market segmentation

By Type: Among Types of nutrients, Macronutrients are a large segment globally and are expected to grow at a steady rate during the forecast period. The requirement of macronutrients for crop health is higher compared to micronutrients, and these macronutrients are widely used essential nutrients, which will drive the crop nutrition market.

By Formulation: Fertilizers held a large share of the market globally and are expected to keep growing in the forecast period. It is one of the largest product types in the Market due to the high demand for fertilizers and the wide usage of fertilizers to provide crop nutrition.

By Application: Among the Application Methods (Soil, Foliar, Fertigation, and Other Applications), Soil holds a large share of the market globally and is expected to keep growing in the forecast period. It is one of the largest application methods as soil is the most common and most efficient way to provide nutrition to crops, and as it will always be the best method it will keep driving the market in the future.