Market Trends of russia fertilizers Industry
This section covers the major market trends shaping the Russia Fertilizers Market according to our research experts:
Field Crops is the largest segment by Crop Type.
- The field crops occupied a market share of 88.9% in 2021 and have grown by 36.5% during the study period. The area under cereals and pulses cultivation has increased by 0.7% and 13.46%, respectively, from 2016-2020.
- Conventional fertilizer accounted for 91.2% of the market for field crops in 2021. Cereals consume the maximum amount of nitrogen fertilizer. As grains and cereals are intensively grown, they deplete the nutrients in the soil, requiring more fertilizers to supplement them.
- The overall fertilizer consumption by horticultural crops accounted for 6.0% of the market in 2021 and grew by 42.49% during the study period. The country's area under fruit and vegetable cultivation has increased by 2.02% and 13.8% from 2016-2020. Therefore, an increase in the area cultivated is anticipated to drive the fertilizers market
- The country's overall turf & ornamental fertilizer market accounted for 5.0% of the market in 2021 and has increased by 33.47% during the study period. In recent years, the government has focused more on self-sufficiency and has developed various strategies, such as greenhouse ornamental flower production, which is anticipated to boost segmental growth.
- Hence, the increased demand for field crops, increased focus on self-sufficiency to reduce the import dependence for ornamentals, and the country being one of the major producers of fertilizers are all anticipated to boost the segmental growth during the forecast period.
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