Africa Fertilizers Market Growth, Industry & Revenue [2031]

Report Description

The Africa fertilizers market was USD XX Billion in 2022 and is likely to reach USD XX Billion by 2031, expanding at a CAGR of 6.39% during 2023–2031. The growth of the market is attributed to increased private sector involvement, improved regional trade cooperation, and improved infrastructure and transportation arrangements in this region.

Fertilizers refer to chemical substances which are applied on crops to increase their productivity and crop yield. It is the most successful means of improving the quality of food and fodder and increasing crop production. Essential nutrients required by the plants such as potassium, nitrogen and phosphorus for crop production are provided by fertilizers leading to rising demand for fertilizers, which is estimated to drive the market growth during the forecast period.

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Fertilizer consumption is the major component for increasing agriculture production in Africa. The region provides favorable climate conditions with abundance expansion opportunities for the fertilizer market.

The Covid-19 pandemic had an unpleasant impact on the Africa fertilizers. The production has been on halt and both the demand and supply ware affected. The market suffered significant loss; however, the government’s steps and strategies have helped to neutralised the situation. This pandemic has encouraged the key players to implement advance technologies to overcome these challenges and expand the market growth.

Market Trends, Drivers, Restraints, and Opportunities

• Rising demand for fertilizers for soil nutrient management, sustainable agriculture development and for increase productivity and crop yield is estimated to drive the market growth in coming years.

• Rising influence of the private sector, improved regional trade cooperation and improved transport and infrastructure arrangements are creating immense opportunities for the Africa fertilizer market.

• The regulations imposed by government bodies to improve agricultural productivity, reduce undernourishment of soil are expected to boost the market growth. Furthermore, government is partnering with private companies to drive fertilizer production in the region.

• Insufficient crop production owing to limited use of fertilizers and lack of access to modern mechanization are projected to restrict the market expansion.

• Consumption of contaminated crops or groundwater with a high concentration of nitrate has negative effects on human health and is anticipated to hinder the demand for inorganic fertilizers

• R&D investment and technological advancement in Africa fertilizers market are expected to offer lucrative opportunities for the market players.

Scope of the Report

The report on the Africa Fertilizers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.

Market Segment insights

The complex fertilizers segment is projected to constitute a large market share

Based on category, the Africa Fertilizers market is segregated into straight and complex fertilizer, the complex fertilizer is further sub-divided into nitrogenous, phosphatic, potash, secondary and micronutrient fertilizers.

The complex fertilizer segment is expected to account for a key share of the market during the forecast period owing to its speedy response and its versatile applications over its competitors. These nutrient-rich salts provide vital nutrients to the plant in the form of potassium, nitrogen and phosphorus; it further improves quality of crops along with rise in production.

Grains and cereals segment is expected to register a substantial CAGR

Based on crop type, the Africa Fertilizers market is divided into grains and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, and other crop types. The grains and cereals segment accounts for a key share of the market and is estimated to propel even further over the forecast period because grains and cereals are the foremost source of proteins and calories. According to the Food and Agriculture Organization (FAO), the production of cereals in 2018 was 38 million tons which contains wheat of 21.3 million tons, grains of 13.9 million tons and rise with 4.1 million tons.

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Rest of Africa is expected to dominate the market

In terms of regions, the market is broadly classified as South Africa, Kenya, Egypt, Morocco, Nigeria and Rest of Africa. Rest of Africa is anticipated to expand at a robust CAGR during the forecast period. The Sub-Saharan Africa region comprises of approximately 20.0% of global agricultural land.

The regulations imposed by government bodies to improve agricultural productivity and reduce undernourishment of soil are expected to boost the market growth in this region. Furthermore, government is partnering with private companies to drive fertilizer production in the region. These features are anticipated to boost the market growth over the coming years.