India Fertilizers Market Outlook 2031
The India fertilizers market size was USD 898.5 Billion in 2022 and is expected to reach USD 1.37 Trillion by 2031 expand at a significant CAGR of 4.85% during the forecast period, 2023–2031. The growth of the market is attributed to the growing requirement to meet the country's ever-increasing population's food demands is driving the India fertilizers industry during the forecast period.
The increased use of fertilizer has made a substantial contribution to India, such as ability to produce food grains sustainably. As a result, over the last few years, the demand for fertilizers has increased by double digits. Fertilizers are used to boost nutrient-depleted soil production. Fertilizer use continues to rise in India to meet the rising food demands of the country's rising population.
Fertilizer use in India is influenced by the soil and climatic conditions of the country's diverse regions. During the outbreak of lockdown all over India, due to Covid-19, the government has lifted the restrictions on fertilizer manufacturing to retain seasonal agricultural activity.
India Fertilizers Market Trends, Drivers, Restraints, and Opportunities
- Increasing need for fertilizers has resulted from an increase in food demand and a decrease in arable land, to meet the need and eliminate food shortages are expected to spur the market growth during the forecast period.
- Several governments and non-governments awareness efforts aimed at informing farmers about the advantages of fertilizers. Fertilizer promotion via television, radio, and customized rural seminars is also expected to boost the India fertilizers market for consumption in the coming years.
- Rising rural incomes, combined with the ease with which credit can be obtained, are anticipated to drive market expansion in the coming years.
- Implementation of lockdown due to COVID-19 has compelled the fertilizer industry in India too experienced problems in terms of labor and raw resources during the forecast period.
Scope of The India Fertilizers Market Report
The report on the India fertilizers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
Fertilizers Market – India Industry Analysis, Growth, Share, Size, Trends, and Forecast
Products (Chemical Fertilizers, Organic and Biofertilizers), Types (Complex Fertilizers, DAP, MOP, SSP, Urea, and Others), Forms (Solid and Liquid), Crop Types (Oilseeds, Fruits and Vegetables, Farming, and Gardening), and Mode of Applications (Fertigation, Foliar Spraying, Sowing, Broadcasting, Drip Method, Spraying, and Others)
Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
Key Players Covered in the Report
Zuari Agro Chemicals Limited; Coromandel International Limited; Chambal Fertilizers Limited; Southern Petrochemical Industries Corporation Limited (SPIC); Rashtriya Chemicals & Fertilizers Limited; Paradeep Phosphates Limited; National Fertilizers Limited; Nagarjuna Fertilizers & Chemicals Limited; Mangalore Chemicals and Fertilizers limited; and Madras Fertilizers Limited
India Fertilizers Market Segment Insights
Chemical fertilizers segment is projected to account for a large market share
Based on products, the India fertilizers market is segmented into chemical fertilizers, organic, and biofertilizers. The chemical fertilizers segment is expected to account for a key share of the market during the forecast period due to the low cost, simple availability, and well-established market.
Urea segment is expected to grow at a rapid pace
In terms of types, the market is segregated into complex fertilizers, DAP, MOP, SSP, urea, and others. The urea segment is expected to represent a key share of the market in the coming years due to relatively cheap nitrogen fertilizer. The primary objective of urea fertilizer is to supply nitrogen to plants in to stimulate green leafy growth and make them appear lush.
Urea also helps plants with their photosynthesis. It is mostly utilized for bloom growth because it can only offer nitrogen. Although people and animals create urea naturally, synthetic urea is made from anhydrous ammonia.
Liquid segment is anticipated to expand at a substantial CAGR
On the basis of forms, the India fertilizers market is bifurcated into solid and liquid. The solid segment is expected to hold a key share of the market during the forecast years due to the effectiveness and consistency. Liquids are quickly absorbed by plants and crops, plants have easier access to nutrients. The liquid form has an instant effect on some plants.
Farming segment is projected to represent a major market share
Based on crop types, the India fertilizers market is divided into oilseeds, fruits and vegetables, farming, and gardening. The farming segment is expected to account for a key share of the market during the forecast period due to government subsidies and growing demand for food grains are two significant reasons driving the growth of the farming fertilizers industry in India.
Foliar Spraying segment is expected to expand at a robust pace
In terms of mode of applications, the market is divided into fertigation, foliar spraying, sowing, broadcasting, drip method, spraying, and others. The foliar spraying segment is expected to account for a large share of the market in the coming years as foliar spraying is an effective way to treat nutrient deficits and promote plant development during stressful times.
The India fertilizers market has been segmented on the basis of
- Chemical Fertilizers
- Complex Fertilizers
- Fruits and Vegetables
Mode of Applications
- Foliar Spraying
- Drip Method
- Zuari Agro Chemicals Limited
- Coromandel International Limited
- Chambal Fertilizers Limited
- Southern Petrochemical Industries Corporation Limited (SPIC)
- Rashtriya Chemicals & Fertilizers Limited
- Paradeep Phosphates Limited
- National Fertilizers Limited
- Nagarjuna Fertilizers & Chemicals Limited
- Mangalore Chemicals and Fertilizers limited
- Madras Fertilizers Limited
Key players competing in the India fertilizers market include Zuari Agro Chemicals Limited; Coromandel International Limited; Chambal Fertilizers Limited; Southern Petrochemical Industries Corporation Limited (SPIC); Rashtriya Chemicals & Fertilizers Limited; Paradeep Phosphates Limited; National Fertilizers Limited; Nagarjuna Fertilizers & Chemicals Limited; Mangalore Chemicals and Fertilizers limited; and Madras Fertilizers Limited. Some of these players are adopting several market strategies such as acquisitions, mergers, collaborations, partnerships, capacity expansion, and product launches to increase their market share.