The study involved two major approaches in estimating the current size of the fertilizers market. Exhaustive secondary research was done to collect information on the market, peer, and parent markets. The next step was to validate these findings, assumptions, and sizing with industry experts across the value chain through primary research. Both top-down and bottom-up approaches were employed to estimate the complete market size. After that, market breakdown and data triangulation were used to estimate the market size of segments and subsegments.
Secondary Research
This research study involved the extensive use of secondary sources—directories and databases such as Bloomberg Businessweek and Factiva—to identify and collect information useful for a technical, market-oriented, and commercial study of the market.
In the secondary research process, various sources such as annual reports, press releases & investor presentations of companies, white papers, food journals, certified publications, articles from recognized authors, directories, and databases were referred to identify and collect information.
Secondary research was mainly used to obtain key information about the industry’s supply chain, the total pool of key players, and market classification and segmentation as per the industry trends to the bottom-most level, regional markets, and key developments from both market- and technology-oriented perspectives.
Primary Research
Extensive primary research was conducted after obtaining information regarding the fertilizers market scenario through secondary research. Several primary interviews were conducted with market experts from both the demand and supply sides across major countries of North America, Europe, Asia Pacific, South America, and the Rest of the World. Primary data was collected through questionnaires, emails, and telephonic interviews. The primary sources from the supply side included various industry experts, such as Chief X Officers (CXOs), Vice Presidents (VPs), Directors from business development, marketing, research, and development teams, and related key executives from distributors and key opinion leaders. Primary interviews were conducted to gather insights such as market statistics, data on revenue collected from the products and services, market breakdowns, market size estimations, market forecasting, and data triangulation. Primary research also helped in understanding the various trends related to fertilizers type, crop type, mode of application, and region. Stakeholders from the demand side, such as research institutions and universities agrochemical distributors and retailers, and food processing companies were interviewed to understand the buyer’s perspective on the suppliers, products, and their current usage of fertilizers and the outlook of their business, which will affect the overall market.
Breakdown of Primary Interviews
Note: The three tiers of the companies are defined based on their total revenues in 2022 or 2023, as per the availability of financial data: Tier 1: Revenue > USD 1 billion; Tier 2: USD 100 million ≤ Revenue ≤ USD 1 billion; Tier 3: Revenue < USD 100 million.
To know about the assumptions considered for the study, download the pdf brochure
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COMPANY NAME |
DESIGNATION |
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Yara (Norway) |
General Manager |
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Nutrien (US) |
Sales Manager |
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Mosaic (US) |
Manager |
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K+S Aktiengesellschaft (Germany) |
Sales Manager |
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IPL Biologicals (India) |
Marketing Manager |
Market Size Estimation
Both the top-down and bottom-up approaches were used to estimate and validate the total size of the fertilizers market. These approaches were also used extensively to determine the size of various subsegments in the market. The research methodology used to estimate the market size includes the following details:
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The key players in the industry and the overall markets were identified through extensive secondary research.
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All shares, splits, and breakdowns were determined using secondary sources and verified through primary sources.
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All possible parameters that affect the market covered in this research study were accounted for, viewed in extensive detail, verified through primary research, and analyzed to obtain final quantitative and qualitative data.
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The research included the study of reports, reviews, and newsletters of top market players, along with extensive interviews for opinions from leaders, such as CEOs, directors, and marketing executives.
Global fertilizers market: Bottom Up & Top Down Approach.
Data Triangulation
After arriving at the overall market size from the estimation process explained above, the total market was split into several segments and subsegments. The data triangulation and market breakdown procedures were employed, wherever applicable, to estimate the overall fertilizers market and arrive at the exact statistics for all segments and subsegments. The data was triangulated by studying various factors and trends from the demand and supply sides. The market size was also validated using both the top-down and bottom-up approaches.
Market Definition
Chemical fertilizers, as defined by International Standard ISO 7851, are fertilizers containing declared nutrients in the form of inorganic salts obtained through extraction or industrial physical and chemical processes. These fertilizers primarily supply the three essential plant nutrients: nitrogen (N), phosphorus (P), and potassium (K), which are crucial for plant growth and crop productivity.
Biofertilizers are substances that contain living microorganisms or latent cells. Biofertilizers are made from biological wastes and do not contain any chemicals. The National Center of Organic Farming (NCOF) defines biofertilizers as “products containing carrier-based (solid or liquid) living microorganisms that are agriculturally useful in terms of nitrogen fixation, phosphorus solubilization or nutrient mobilization, to increase the productivity of the soil and/or crop.
Stakeholders
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Key manufacturers of chemical fertilizers and biofertilizers
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Key companies in the fertilizers market
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Traders, distributors, and suppliers in the fertilizers market
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Technology providers to fertilizers companies
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Farmer organizations and crop protection product manufacturers
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Associations and industry bodies such as the Food and Agriculture Organization (FAO), International Fertilizer Association (IFA), and International Fertilizer Development Center (IFDC)
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Concerned government authorities, commercial R&D institutions, and other regulatory bodies
Report Objectives
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To determine and project the size of the fertilizers market with respect to the type, mode of application, crop type, and regions in terms of value over five years, ranging from 2025 to 2030.
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To identify the attractive opportunities in the market by determining the largest and fastest-growing segments across regions
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To provide detailed information about the key factors influencing market growth (drivers, restraints, opportunities, and challenges)
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To analyze the opportunities in the market for stakeholders and provide details of the competitive landscape for market leaders.
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To analyze the micro-markets with respect to individual growth trends, prospects, and their contribution to the total market.
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To identify and profile the key players in the fertilizers market.
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To understand the competitive landscape and identify the major growth strategies adopted by players across the key regions.
HIGHEST CAGR MARKET IN 2030
INDIA FASTEST GROWING MARKET IN THE REGION
Growth opportunities and latent adjacency in Fertilizers Market