The African fertilizer industry shall have a CAGR of 2.7% over the forecast period of 2017-2022, as nutrient requirements and active ingredients usage are set to rise. Factors supporting the market are economic growth, potential for the agriculture sector, and input-output prices.
Major drivers for the fertilizer market growth in Africa are increased demand for food grains and need for land use efficiency. Mounting awareness about the fertilizers application would help in market growth in the region. While product innovation and INM practices involving synthetic fertilizers will provide future opportunities, the high cost of fertilizers, poor government support and hindrance in agriculture sector growth in underdeveloped countries may create obstacles to the market.
By type, the market is divided into nitrogen, phosphorus, potash and other macro fertilizers wherein nitrogen-based fertilizers account for the highest market share. By application, the market is explained by crop and non-crop usage.
The African fertilizers market demand is led by agricultural countries like South Africa and Egypt. While South Africa accounts for the majority share, demand would grow at a faster rate in Egypt.
Key Industry Players
Major players accounting for substantial market share are:
Companies are targeting the African region for future growth of the industry; geographical expansion with country specific product innovations is the major strategy followed by market players.
Key Deliverables in the Study