North America Fertilizers Market

North America fertilizers market size was is estimated to register a substantial CAGR during the forecast period, 2021–2028. The growth of the market is attributed to technological innovations in the industry, coupled with the growing demand for N, P, and K and micronutrient fertilizers.

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

The Covid-19 pandemic had an unpleasant impact on the fertilizers market due to the shortage of labor and the shutdown of a few fertilizer plants located in the integrated chemical complexes, shipments were affected and so the supply in the market; 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 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
• Regulatory and environmental constraints and high production costs are likely to impede the market growth.
• R&D investment and technological advancement in North America fertilizers market are expected to offer lucrative opportunities for the market players.

Scope of the Report

The report on the North America 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 North America fertilizers market is segregated into straight and complex fertilizers, the straight 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 North America 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 owing to it being 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.

United States is expected to dominate the market
In terms of geography, the market is broadly classified as United States, Canada, Mexico and Others. United States is anticipated to expand at a robust CAGR during the forecast period. United States has 405.5 million hectares of land which accounts for 71.1% of the total agricultural land in the region this is anticipated to boost the market growth over the coming years. Furthermore, 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.

Segments

• Straight Fertilizers
  • o Nitrogenous
  • o Phosphatic
  • o Potash
  • o Secondary
  • o Micronutrient fertilizers
• Complex Fertilizers

• Grains and Cereals
• Pulses
• Oilseeds
• Commercial Crops
• Fruits and Vegetables
• Other Crop Types

• United States
• Canada
• Mexico
• Others

• Nutrien Ltd.
• Yara North America
• The Mosaic Company
• ICL fertilizers
• CF Industries Holdings, Inc.

Competitive Landscape

Key players competing in the fertilizers market Nutrien Ltd., Yara North America, The Mosaic Company, ICL fertilizers and CF Industries Holdings, Inc.

Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to enhance their market shares. For instance,

• Nutrien has acquired Van Horn, Inc. a retailer and agricultural services provider located in central Illinois. This aids the company in strengthening its distribution channel, which in turn boosts the sale of fertilizer products.