Nitrogenous Fertilizers Market Analysis By Future Demand, Top Players, Size, Share, Opportunities and Growth Rate Through 2027
The global nitrogenous fertilizers market size is projected to reach USD 140.51 billion by the end of 2026. The massive investments in the RandD products with active ingredients will aid the growth of the market. According to a report published by Fortune Business Insights, titled" Nitrogenous Fertilizers Market Size, Share and Industry Analysis, By Type (Urea, Calcium Ammonium Nitrate, UAN, Ammonium Sulphate, and Other Nitrogenous Fertilizers), By Crop Type (Cereals, Pulses and Oilseeds, Fruits and Vegetables, and Turf and Ornamentals), and Regional Forecast, 2019 2026,” the market was worth USD 113.70 billion in 2018 and will exhibit a CAGR of 2.73% during the forecast period, 2019-2026.
Nitrogenous fertilizers are products that are produced through
combination of substances that are inclusive of nitrogen. The constantly rising
global population has created a subsequent demand for crop produce across the
world. Recent advances in agricultural activities will emerge in favor of the
companies operating in the market. The increasing number of agricultural
subsidies will bode well for nitrogenous fertilizer vendors across the globe.
The ability of nitrogenous fertilizers to improve the nutrient content of
agricultural crop produce will lead to a wider adoption of the product across
the world.
Increasing Number of Company Collaborations Will Aid Market Growth
The report encompasses several factors that have contributed to
the growth of the market in recent years. The increasing number of company
mergers and acquisitions has had a massive impact on the growth of the market.
Accounting to the massive demand for crop and crop produce across the world,
large scale companies are looking to acquire smaller companies with a bid to
establishing a stronghold in the market. In November 2019, Nutrien Ltd.
announced that it has completed the acquisition of Ruralco Holdings Ltd.
Through this acquisition, the company plans to build on its existing range of
nitrogenous fertilizer products. Due to the massive global customer reach of
the company, this acquisition will not just help the company growth, but will
also have a massive impact on the growth of the market in the coming years.
Asia Pacific Holds the Highest market Share; Growing Demand for
Crop Produce Will Aid Growth
The report analyses the ongoing nitrogenous fertilizers market
trends across North America, Latin America, Asia Pacific, and the Middle East
and Africa. Among these regions, the market in Asia Pacific holds the highest
market share, driven by the huge demand for crop produce in several countries
across this region. Besides Asia Pacific, the market in North America will
witness considerable growth in the coming years. As of 2018, the market in
North America was worth USD 21.18 billion and this value is projected to
increase further in the coming years.
Browse Complete Details of Research Insights with TOC:
https://www.fortunebusinessinsights.com/nitrogenous-fertilizers-102532
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