North America Fertilizers Market - Growth, Trends, COVID-19 Impact, and Forecasts (2021 - 2026)

The agricultural land in North America was 568.6 million hectares in 2015, which has increased by 0.3% and reached 570.4 million hectares in 2017. However, the agricultural land in the United States and Canada has decreased by 0.3% in 2017 and reached 463.5 million hectares from 464.2 million hectares in 2016. Urbanization and Industrialisation are the major reason for the decline in agricultural land in North America. According to American Farmland Trust (AFT); in the past 20 years, the United States has converted around 31 million acres of agricultural land into commercial, residential, and industrial areas. Farmers in the region are applying fertilizers to increase their crop yield, to feed the growing population. According to FAOSTAT, the population in North America has increased from 359.9 million in 2016 to 361.9 million in 2017. This is will boost fertilizer consumption in the region.

The United States accounts for the largest share in the North America fertilizer market. The United States has 405.5 million hectares of land which accounts for 71.1% of the total agricultural land in the region. The farm equipment manufacturers are developing new products to assist the farmers in the precise application of fertilizers. This helps the farmers in reducing the cost of cultivation. For instance, Salford Group has launched a new fertilizer spreader called BBI Sniper spinner spreader, with the sniper technology it helps the farmer in the cost-effective and more precise application of dry fertilizers. The increase in farmer awareness and development of farm equipment technologies coupled with the large agricultural land area is boosting the use of fertilizer in the country.