Fertilizer market is projected to foresee commendable growth in coming years owing to rising use of fertilizers for activities such as nurseries, golf courses, and playgrounds and high product usage across various application sectors such as gardening, agriculture, and horticulture.
Fertilizers are referred as chemical substances supplied to the crops for surging their productivity. These are known as food to plants and generally comprise of essential nutrients needed by the plants, such as phosphorus, potassium, and nitrogen. They further improve the water retention capacity of the soil, thus increasing its fertility.
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Fertilizers are mostly used daily by farmers and families to aid crops and gardens in growing. Whether for a large farm having hundreds and thousands of acres of crops, or a small garden of plants and flowers an extensive variety of fertilizers have been specifically developed to aid various crops grow in different soil as well as weather conditions.
Consumer and chemical fertilizers are severely regulated by both the federal government and individual states to ensure that these are safe for the people who use them, the surrounding environment as well as the people. Fertilizers help in delivering adequate food to feed the entire globe’s population. In fact, a class of fertilizers known as micronutrient fertilizers are engineered mainly to supplement crops with essential nutrients that aid in supporting human health.
In terms of application, the overall fertilizer market is classified into gardening, horticulture, agriculture, and others. Among these, the other applications will witness around 2.5% CAGR over the forecast timeframe. This anticipated growth is ascribed to the rising use of fertilizers for activities such as nurseries, golf courses and playgrounds. In golf courses, organic or man-made fertilizers help turfgrass grow and are usually sprayed on the plant or are applied in granular form.
In the nursery industry, special purpose fertilizers are largely used in nursery and small fruit plants. In nurseries, fertilization technique is considered very essential, mainly to obtain plants of good quality in container production and open field. In some cases, owing to scarcity of manure, mineral fertilizers are extensively used.
In addition, slow-release fertilizers are also used mostly in the turf, ornamental and sod nursery industries. Since plants could continuously take up nutrients, it might be useful to provide them with a somewhat steady supply during their most active periods of growth.
From a regional frame of reference, Latin America fertilizer market to account for around 13.5% in the overall market share. This growth is attributed to limited availability of cultivable land in the region.
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