COMPLEX FERTILIZERS MARKET ANALYSIS

Complex Fertilizers Market Size and Trends

The complex fertilizers market is estimated to be valued at USD 38.83 Bn in 2024 and is expected to reach USD 57.62 Bn by 2031, exhibiting a compound annual growth rate (CAGR) of 5.8% from 2024 to 2031.

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Complex fertilizers are gaining more popularity compared to simple fertilizers due to rising need for balanced nutrition. The blends of macro and micro nutrients in a single unit help plants access all required nutrients at once. The complex fertilizers market is expected to witness positive growth over the forecast period. The growth can be attributed to the shifting preference of farmers towards complex fertilizers to maximize yield. As environmental norms are getting stricter, the demand for eco-friendly fertilizers like complex fertilizers is increasing. Development of organic complexes suitable for crops like fruits and vegetables will further support the market expansion during the projected timeline.

Rising demand for high crop yield

The growing global population has put immense pressure on the agricultural sector to increase food production manifolds. With arable land being limited due to increasing urbanization, the focus has shifted to boosting crop yields from the existing cultivated areas. Complex fertilizers play a vital role in this regard as they deliver balanced nutrition required by crops to boost yields. Containing two or three essential nutrients needed by plants such as nitrogen, phosphorus, and potassium, complex fertilizers ensure comprehensive nourishment. This helps in optimizing photosynthesis, strengthening plant structure, and improving resistance to diseases and environmental stresses. As a result, crop yields witnessed significant enhancement when complex fertilizers are applied as compared to single nutrient fertilizers. According to data by downtoearth organization, food demand projected to increase by over 50% by 2050, boosting yields through customized fertilizer solutions has become imperative. This growing need for high crop productivity is a major driver propelling the demand for complex fertilizers across key farming regions globally.

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Depleting soil fertility

Intensive farming over the decades has drained out essential nutrients from soils. Monocropping and exhaustive use of fertilizers in isolation has disrupted the natural balance of nutrients in farmlands. This has led to severe depletion of micro and macro nutrients needed by plants. As a result, the inherent fertility and productivity potential of soils has declined considerably. To sustain crop yields and meet the nutritional demands of cultivated crops, replenishing depleted soil nutrients is crucial. Compared to single nutrient fertilizers, complex fertilizers harmoniously restore multiple nutrients in one application. This holistic nourishment helps in conditioning the soil, enhancing its natural fertility over the long run. They also facilitate better nutrient assimilation by crops. Awareness regarding deteriorating soil health and the need for balanced nutrient management is rising among farmers. This has accelerated the usage of complex fertilizers for restoring depleted soils and arresting future yield decline risks. The urgent need to revive the nutrient status of over-exploited farmlands worldwide is propelling the complex fertilizers market growth.