GCC Fertilizer Market Size

Statistics for the 2023 & 2024 GCC Fertilizer market size, created by Mordor Intelligence™ Industry Reports. GCC Fertilizer size report includes a market forecast to 2029 and historical overview. Get a sample of this industry size analysis as a free report PDF download.

Market Size of GCC Fertilizer Industry

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GCC Fertilizer Market Summary
Study Period 2019 - 2029
Base Year For Estimation 2023
Forecast Data Period 2024 - 2029
Market Size (2024) USD 438.91 Billion
Market Size (2029) USD 672.23 Billion
CAGR (2024 - 2029) 8.90 %

Major Players

GCC Fertilizer Market Major Players

*Disclaimer: Major Players sorted in no particular order

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GCC Fertilizer Market Analysis

The GCC Fertilizer Market size is estimated at USD 438.91 billion in 2024, and is expected to reach USD 672.23 billion by 2029, growing at a CAGR of 8.90% during the forecast period (2024-2029).

The COVID-19 pandemic significantly impacted the GCC economy in 2020 due to social distancing measures, national lockdowns, and declining fertilizer prices. The chemical industry in the region is closely linked to economic activity, demand and supply headwinds, fluctuations in feedstock prices, and growth in end-user industries. It experienced the negative implications of the pandemic and the overall economic situation.

Increasing demand for food grains and growing awareness among the farming communities about the use of fertilizers to increase productivity are driving the fertilizer market. Increasing demand for fertilizers from other countries is driving production in the GCC countries. Saudi Arabia contributed 49% to the total fertilizer production of the GCC countries in 2019.

The nitrogenous fertilizer segment occupies a larger chunk of the market. However, the application of potassic fertilizers is growing rapidly, as it may enhance the plants' tolerance to abiotic stress, especially a lack of water, which may significantly reduce crop yields.

Fruit and vegetable production has been growing in the region as governments in the GCC countries are focused on achieving self-sufficiency. Furthermore, the COVID-19 pandemic has emphasized developing local food sources. According to the Food and Agriculture Organization, in 2020, primary fruit and vegetable production stood at 2,913.9 thousand metric ton and 1,052.1 thousand metric ton in Saudi Arabia.

GCC Fertilizer Market Size & Share Analysis - Growth Trends & Forecasts (2024 - 2029)