Nitrogenous Fertilizer Market Will Grow by Nearly 10 Million Tons

Global nitrogenous fertilizer market size will grow by 9.99 million tons during 2019-2023, at a CAGR of nearly 2%. Asia consumes more than half of the world’s nitrogenous fertilizer produce. The growing population and the increasing per capita income particularly in China and India have driven the demand for food and agricultural products. The two countries are the major contributors to the growth of the nitrogenous fertilizer market. China is witnessing strong demand for fertilizers to cater to the food requirement. Nearly half of the Indian population depend on agriculture for a living. The Indian Government also supports the agriculture sector by providing subsidies and incentive schemes, and the country recently increased its expenditure on the agriculture sector. Such factors will drive global nitrogenous fertilizer market growth over the forecast period.


Decreasing arable land
The decline in the size of arable land is challenging the global food requirement. This is because of the constant increase in industrialization and urbanization. Developing countries such as India, China, and Brazil will require additional farmlands by 2030 to meet the need for food grains. The shrinkage in arable land will increase the demand for fertilizers such as nitrogenous fertilizer for high crop yields. This is expected to drive the growth of the global nitrogenous fertilizer market during the forecast period.

Leading vendors such as Yara and CF Industries are increasing their ammonia production because of the strong demand in the fertilizers market. Recently, Yara opened an ammonia plant in Freeport, Texas, the US with an annual production capacity of 750,000 metric tonnes. CF Industries is also expanding its ammonia production facility based near Medicine Hat, Alberta. Such developments are expected to drive the growth of the market.