Market Trends of india urea Industry
This section covers the major market trends shaping the India Urea Market according to our research experts:
Field Crops is the largest segment by Crop Type.
- In India, field crops alone account for about 94.9% of the total urea fertilizer market, valued at USD 11.30 billion in 2021.
- Field crops consumed about 98.0% of conventional urea fertilizers in 2021 due to their low cost and widespread availability in the country. However, in field crops, there is an increasing trend in adopting specialty urea fertilizers due to their efficiency.
- Horticulture crops account for about 5.5 percent of the total urea fertilizer market, valued at USD 657.1 million in 2021. India is the world's second largest producer of fruits and vegetables, and the country ranks first in Banana, Mango, Lemon, Papaya, and Okra.
- Since the last few decades, there has been an increase in nitrogen application rates and a decrease in nitrogen use efficiency. It is estimated that fertilizer consumption in India may double by 2050, and there is an urgent need to improve the fertilizer use efficiency in the country. The controlled-release fertilizers can improve fertilizer use efficiency and decrease fertilizer pollution, particularly in horticultural crops.
- In the Indian turf and ornamental industry, floriculture has been one of the growing industries in recent years. In 2020-21, the country exported 15.6 thousand metric tons of floriculture products to the world for a total value of USD 7.8 Million. Controlled-release fertilizers have a great potential to penetrate this industry by innovating different release patterns that suits floriculture. Turf and ornamental crops account for about 0.11% of the total urea fertilizer market, valued at USD 13.6 million in 2021.
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