Fertilizers play a major role in the development of plants by providing them required nutrients. The application of fertilizers to the crops helps in getting a higher yield. The US fertilizers market is estimated to grow at a CAGR of XX% during the forecasted period 2016-2021. The fertilizers market value is estimated to be USD XX in 2021 from USD 11.3 billion in 2016. The market in the US is expected to grow at a lower rate owing to market saturation.
The use of chemical fertilizers is causing health issues and hence, there is a huge demand for organic fertilizers is growing in the region. Consumers are increasingly becoming health conscious and the demand for organic foods is increasing. The organic fertilizers and biofertilizers market is estimated to grow as a result of the increased demand for organic food products.
The demand for fertilizers is highly dependent on the demand for food grains in the country. The arable land is declining and the demand for products is increasing, hence there is a need to increase productivity. The efficiency of the crop can be increased by using fertilizers. Hence, the demand for food grains is driving the growth of the market. The other factors that are driving the growth of the fertilizers market are the declining arable land and government incentives. The major restraints to the growth are the government regulations in the fertilizer industry. The other restraints are the volatile prices and growing environmental and health concerns towards the use of chemical fertilizers.
The nitrogenous products have the largest market share compared to the other products. The US fertilizer market is segmented based on the product type and application. On the basis of products, the market is segmented into synthetic fertilizers (nitrogen, urea, phosphate, and urea) and organic fertilizers (organic residues and bio fertilizers). By application type, the market is classified as crop-based and non-crop based.
Major companies in the sector include:
Recent Industry Insights
“The United States is the largest importer of fertilizers in the world, with 50% of nitrogen and 85% of potash imported.”
Key Deliverables in the Study
The report holds importance for the following stakeholders-