Morocco Fertilizers Market Report Description:
Morocco fertilizers market report gives comprehensive outlook on fertilizers across the globe with special emphasis on Morocco. The report on Morocco fertilizers market gives historical, current, and future market sizes (US$ Mn) on the fertilizers, crop type, and region. This report studies Morocco fertilizers market dynamics elaborately to identify the current trends & drivers, future opportunities and possible challenges to the key stakeholders operating in the market. In addition, Morocco fertilizers market report includes human demographics; regulatory scenario, and competition analysis with vividly illustrated the competition dashboard to assess the market competition. Moreover, PBI analyzed Morocco fertilizers market to better equip clients with possible investment opportunities across the regions (regional Investment Hot-Spots) and market unmet needs (Product Opportunities). Key stakeholders of the Morocco fertilizers market report include suppliers, manufacturers, marketers, policy makers, and healthcare service providers engaged in Morocco fertilizers.
Morocco Fertilizers Market:
The Morocco fertilizers market estimated to be valued US$ 462.4 Mn in 2018 and poised to grow at significant CAGR over 2019-2025 owing to increasing fertilizer consumption and focus on innovation and research for new generation fertilizers and presence of strong agricultural potential in Morocco drives the growth of the market over the forecasted period. For instance, Morocco fertilizer consumption value accounted for 71.1 kilograms per hectare in 2015 & 2016, which is increased up on comparison of 2014 year value, i.e. 66.7 kilograms per hectare. Moreover, On-going research platforms, free trade agreements with several countries such as the U.S. (in 2005), European Union (in 1996), UAE (2003), Jordan, Egypt, etc. and currently in negotiations with Canada for the conclusion of a free trade agreement and government initiatives fuels the growth of the market. However, Competition and drop in prices for fertilizers and abolition of export tax are expected to hamper the growth of the market.
Strong Agricultural Potential in Morocco
Rising adoption of good agricultural practices, crop yields, and increasing fertilizers of cereals over the decades are the factors witnessed to upsurge Morocco fertilizers market growth over the forecast period. Agriculture is the main support of development of Morocco. The importance of the national GDP (19%) and job creation (~40%), mostly in rural areas where agricultural is the main business (80%) and source of income. In Morocco, the usable agricultural area is estimated around 88 million hectares in which 16 million hectares are currently irrigated. By 2016, it has been accounted the crop production index of Morocco was 110.1 index. The crop production index value was increased from 30.3 in 1967 to 110.1 in 2016, which is growing at an annual average rate of 4.99%.
Free Trade Agreements Boost Morocco’s Exports
Morocco government is continually concentrating to avoid negative impacts of free trade agreements and also enhancing the performance of the national economy and improve access of Moroccan products to the markets of trading partners. Facilitation of foreign trades with free trade agreements and foreign investments with global wide countries are witnessed to expect growth in Morocco’s export during the forecast period. Additionally, Morocco is modernizing legislative and regulatory frameworks for foreign trades, simplifying procedures, improving business climate, and the competitive capacity of domestic enterprises, as well as promoting foreign investment to boost the economy of the country. Over the past 10 years, Morocco exports fertilizers to EU (6.1%), U.S. (16.4), and Turkey (30%) under the free trade agreements.
Key player’s profiles in the Morocco fertilizers market include:
- ICL Group
- Yara International
- CF Industries
- Israel chemicals
Morocco fertilizers market is surging owing to adoption of newer strategies and active R&D activities such as smart agriculture by using digital technology, software, and precision equipment’s besides using fertilizers in a process of improving fertilizer consumption. For instance, in 2018, Morocco based company, OCP Group, collaborated with Forbon Groups, who has the strong expertise in smart agriculture, traditional and new generation of fertilizers and planned to invest in smart agriculture by using digital technology.
Key Findings of the Report:
- Morocco fertilizers market expanding at significant CAGR over 2018 to 2025 owing to increase in fertilizer consumption in Morocco.
- Based on fertilizer type, nitrogenous fertilizers accounted for larger market revenue share in 2018 and projected gain market revenue share over the forecast period
- Players focusing on innovation of newer products and collaboration strategies to retain market position in Morocco fertilizers market
Key Features of the Report:
- The report provides granular level information about the market size, regional market share, historic market (2014-2018) and forecast (2019-2025)
- The report covers in-detail insights about the competitor’s overview, company share analysis, key market developments, and their key strategies
- The report outlines drivers, restraints, unmet needs, and trends that are currently affecting the market
- The report tracks recent innovations, key developments and startup’s details that are actively working in the market
- The report provides plethora of information about market entry strategies, regulatory framework and reimbursement scenario
- The report analyses the impact of socio-political environment through PESTLE Analysis and competition through Porter’s Five Force Analysis in addition to recent technology advancements and innovations in the market
By Fertilizer Type
- Ammonium Sulphate
- Other NP Compounds
- Ammonium Nitrate
- Mono-Ammonium Phosphate
- Di-Ammonium Phosphate
- Triple Super Phosphate
- Potassium chloride (Muriate of Potash) (MOP)
- Potassium Sulphate (Sulphate of Potash) (SOP)
- NPK Fertilizers
By Crop Type
- Horticulture Crops
- Field Crops
- Turf & Ornamentals