South America Fertilizers Market Outlook 2031
The South America fertilizers market size was USD 12.86 Billion in 2022 and is projected to reach USD 23.88 Billion by 2031 register a substantial CAGR of 7.12% during the forecast period, 2023–2031. Growth of the market is attributed to fertilizer applications in agricultural operations, such as cultivating plants and basic food crops.
A fertilizer is natural or manufactured substance that is applied to soil or plant tissues to provide nutrients to the plants. Liming materials and other non-nutrient soil additions are not necessarily fertilizers. Fertilizer comes in a variety of forms, both natural and man-made.
Fertilization in most current agricultural techniques relies on three primary macro nutrients: nitrogen (N), phosphorus (P), and potassium (K), with the addition of micronutrient supplements such as rock dust. Farmers use a number of methods to apply fertilizers, including dry, pelletized, and liquid application procedures, as well as big agricultural equipment and hand-tool approaches.
A fertilizer, according to the international fertilizer association, is "any solid, liquid, or gaseous substance containing one or more plant nutrients in a known amount and applied to the soil, directly on plants, or added to aqueous solutions to maintain soil fertility, improve crop development, yield, and/or crop quality."
South America Fertilizers Market Trends, Drivers, Restraints, and Opportunities
- Increased farmland assures steady need for fertilizers is expected to fuel the market expansion during the forecast period.
- Rapid growth of the industry is major factor propelling the market in the coming years.
- Rapid urbanization is anticipated to impede the market growth.
- Limited adoption of controlled-release technology act as key challenge that can hinder the market growth during the forecast period.
- Increase in investment in agricultural sector is estimated to offer lucrative opportunities for the market players.
Scope of The South America Fertilizers Market Report
The report on the South America fertilizers market includes an assessment of the market, trends, segments, and regional markets. Overview and dynamics have also been included in the report.
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Attributes
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Details
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Report Title
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Fertilizers Market - South America Industry Analysis, Growth, Share, Size, Trends, and Forecast
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Base Year
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2022
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Historic Data
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2016–2021
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Forecast Period
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2023–2031
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Segmentation
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Type (Straight Fertilizers and Complex Fertilizers), Crop type (Grains, and Cereals, Pulses and Oilseeds, Commercial Crops, Fruits and Vegetables, Other Crop Types)
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Geographical Scope
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Argentina, Brazil, Chile, Colombia, and Rest of South America
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Report Coverage
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Company Share, Market Analysis and Size, Competitive Landscape, Growth Factors, and Trends, and Revenue Forecast
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Key Players Covered in the Report
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Nutrien Limited, K+S AG, The Mosaic Company, Yara International, and CF Industries.
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South America Fertilizers Market Segment Insights
The complex fertilizers segment is projected to hold a large market share
On the basis of types, the South America fertilizers market is bifurcated into straight fertilizers and complex fertilizers. The complex segment is expected to represent a key share of the market during the forecast period. Complex fertilizers are available in a variety of colors, depending on the selection. The term NPK complex fertilizer refers to a fertilizer that comprises three nutrients: nitrogen (N), phosphorus (P), and potassium (K).
NITROGEN (N): Contributes to the plant's development by supplying nitrogen to the soil. PHOSPHORUS (P): Phosphorus is required for root development as well as the ripening process. It is found in all of a plant's cells, which explains why it's so important to the plant's metabolism. The amount of phosphorus is measured as P2O5.
It ensures a even distribution of nutrients on the ground; It is simple and cost-effective to apply because the same amount of nutrients requires 2/3 the effort to apply in the soil. It improves fertilizer effectiveness by allowing more fertilizing components to be supplied at the same time (nitrogen, phosphorus, potassium).
The grains and cereals segment is expected to grow at a rapid pace
On the basis of crop types, the South America fertilizers market is divided into grains, and cereals, pulses and oilseeds, commercial crops, fruits and vegetables, other crop types. The grains and cereals segment is expected to represent a key share of the market during the forecast period. With the rise in cereal production and consumption, it is becoming necessary for growers to focus on yield and quality by utilizing efficient fertilizers.
Increased need for fertilizers has resulted in increased food demand and a decrease in arable land, in order to fulfill the demand and minimize food shortages. As a result, farmers have started using fertilizers in conjunction with traditional chemicals, which has aided them in producing residue-free crops that meet international requirements.
Brazil is expected to dominate the market
On the basis of geography, the South America fertilizers market is classified as Argentina, Brazil, Chile, Colombia, and Rest of South America. The market in Brazil is anticipated to expand at a high CAGR during the forecast period. The amount of plant nutrients consumed per unit of arable land is measured by fertilizer usage. Brazil accounts for 66% of total domestically used fertilizer in South America and it is continuing to expand its crop-growing areas.
As a result, fertilizer consumption has grown in recent years. In 2017, Brazil utilized 5.1 million metric tons of nitrogen fertilizer, up from 4.4 million metric tons the previous year (FAO). Due to increased soybean growth in Brazil, potassium is the rapid growing fertilizer sector.
Segments
The South America fertilizers market has been segmented on the basis of
Types
- Straight Fertilizers
- Complex Fertilizers
Crop Types
- Grains and Cereals
- Pulses and Oilseeds
- Commercial Crops
- Fruits and Vegetables
- Other Crop Types
Geography
- Argentina
- Brazil
- Chile
- Colombia
- Rest of South America
Key Players
Competitive Landscape
Key players competing in the South America fertilizers market include Nutrien Limited, K+S AG, The Mosaic Company, Yara International, and CF Industries.
Some of these players are using several market strategies such as mergers, acquisitions, partnerships, collaborations, capacity expansion, and product launches to increase their market shares.
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