India Fertilizer Market Outlook
According to the report by Expert Market Research (EMR), the India fertilizer market size is projected to further grow at a CAGR of 4.3% between 2024 and 2032. Aided by the increasing demand for food production and the growing applications of fertilizers in agriculture, the market is expected to reach a value of around USD 14.9 billion by 2032.
Fertilizers play a crucial role in modern agriculture by providing essential nutrients that enhance soil fertility and promote plant growth. They are instrumental in increasing crop yields and ensuring food security in a country like India, where agriculture is a primary source of livelihood for a significant portion of the population. The primary types of fertilizers used in India include nitrogen-based, phosphate-based, and potash-based fertilizers, each catering to specific crop requirements and soil conditions.
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With a burgeoning population, India faces a growing demand for food. The need to enhance agricultural productivity to meet this demand has driven the adoption of fertilizers. Fertilizers help in boosting crop yields, thus ensuring an adequate food supply. The Indian government has implemented various policies and subsidies to support the agriculture sector, including the provision of fertilizers at subsidized rates. Programs like the Pradhan Mantri Krishi Sinchai Yojana and the Soil Health Card Scheme have further encouraged the use of fertilizers to enhance soil health and productivity, leading to India fertilizer market growth.
Innovations in fertilizer technology, such as the development of slow-release and controlled-release fertilizers, have improved nutrient efficiency and reduced environmental impact. These advancements have made fertilizers more effective and sustainable, driving their adoption among farmers. There is increasing awareness among farmers about the importance of balanced fertilization and soil health management. The use of fertilizers in conjunction with organic farming practices and soil conditioners is gaining traction, leading to improved crop quality and yield.
In an effort to reduce dependency on conventional urea and enhance nutrient use efficiency, the Indian Farmers Fertiliser Cooperative Limited (IFFCO) introduced nano urea. This innovative product aims to reduce the environmental impact and improve crop productivity, consequently driving up the India fertilizer market share.
Companies like Rashtriya Chemicals and Fertilizers (RCF) and Gujarat State Fertilizers & Chemicals (GSFC) have been investing in expanding their production capacities to meet the growing demand. International collaborations and partnerships have been established to secure raw material supplies and technological expertise. For instance, Indian companies have entered into agreements with global players for the supply of rock phosphate and potash.
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The integration of digital technologies in agriculture, such as precision farming and data analytics, has improved the efficiency of fertilizer application. This approach helps in optimizing fertilizer use and enhancing crop yields. IFFCO is one of the largest fertilizer manufacturers in India, known for its extensive product portfolio and widespread distribution network. The company has been at the forefront of introducing innovative products like nano urea.
National Fertilizers Limited (NFL) is a leading public sector enterprise engaged in the production and marketing of nitrogenous fertilizers. The company has a strong presence in the northern and central regions of India.
As per the India fertilizer market analysis, North India has a high demand for fertilizers due to the extensive cultivation of wheat, rice, and sugarcane. South India has diverse cropping patterns, including cereals, pulses, and horticultural crops, drive the fertilizer demand in this region.
East India has fertile plains and high agricultural activity in states like West Bengal and Odisha contribute to significant fertilizer consumption. In West India, Gujarat and Maharashtra are prominent consumers of fertilizers due to their large agricultural land area and diverse cropping systems.
India Fertilizer Market Segmentation
The market can be divided based on type, product, formulation, application, and region
Market Breakup by Type
- Chemical Fertilizer
- Biofertilizer
Material Breakup by Product
- Nitrogenous Fertilizers
- Urea
- Ammonium Nitrate
- Ammonium Sulphate
- Anhydrous Ammonia
- Others
- Phosphatic Fertilizers
- Monoammonium Phosphate (MAP)
- Diammonium Phosphate (DAP)
- Others
- Potash Fertilizers
- Muriate of Potash (MOP)
- Others
- Complex Fertilizers
- Others
Market Breakup by Formulation
- Liquid
- Dry
Market Breakup by Application
- Grains and Cereals
- Pulses and Oilseeds
- Commercial Crops
- Fruits and Vegetables
- Others
Market Breakup by Region
- North India
- South India
- East India
- West India
Competitive landscape
The EMR report looks into the market shares, plant turnarounds, capacities, investments, and mergers and acquisitions, among other major developments, of the leading companies operating in the India fertilizer market. Some of the major players explored in the report by expert market research are as follows:
- Coromandel International Limited
- Chambal Fertilisers and Chemicals Ltd
- Gujarat Narmada Valley Fertilizers and Chemicals Ltd
- Indian Farmers Fertiliser Cooperative Limited (IFFCO)
- Rama Phosphates Limited
- ICL Group Ltd
- The Fertilisers and Chemicals Travancore Limited (FACT)
- Deepak Fertilizers & Petrochemicals Corporation Ltd.
- Gujarat State Fertilizers & Chemicals Limited
- Rashtriya Chemicals and Fertilizers Limited (RCFL)
- National Fertilizers Ltd.
- Southern Petrochemical Industries Corporation Ltd
- Others
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