Fertilizers Market: By Type (Organic Fertilizers, Inorganic Fertilizers, Bio-Fertilizers), By Form Type (Granules, Liquid, Gaseous, Others), By Method of Application (Foliar Spraying, Fertigation, Sowing, Broadcasting, Spraying, Drip Method, Others), By Crop Type (Horticulture Crops, Cash Crops, Cereals, Turfs and Ornamental, Crops Plantation, Crops Others), and Geography  

Fertilizers Market size was valued at USD 195.6 billion in 2022 and is expected to grow at a CAGR of 2.1% from 2023-2029. Science and technology have benefited the fertilizer industry and agriculture in general for more than a century. Fertilizer production is one of the world's largest energy consumers. Partnerships between the public and private sectors to improve the registration process for novel fertilizers and expanding farmers access to innovative technologies that give important agronomic benefits. The NextGen fertilizer challenge will improve on-farm use of effective fertilizer product innovations while also stimulating innovation. In Mar 2022, TFI collaborated on the NextGen Fertilizer Challenges with the Environmental Protection Agency (EPA) and the United States Department of Agriculture (USDA), with the goal of accelerating the development of novel fertilizer products technology. Many government and non-government groups around the world are spreading awareness about fertilizer use and its benefits to agricultural output. The market is expected to benefit from fertilizer promotion on radio, television, and in rural areas. Additionally, increased rural incomes, as well as the simplicity and speed with which credit may be obtained, are predicted to boost revenue generation.

Fertilizers Market Key Developments:

• In March 2020, The Mosaic firm and BioConsortia Inc. struck a deal to collaborate, develop, and launch nitrogen-fixing microbial solutions to boost yields on corn, wheat, and other major non-legume row crops.