North America Fertilizer Market size surpassed USD 26.5 billion in 2021 and is expected to witness more than 1% CAGR from 2022 to 2028. The growing demand for sustainable agriculture practices will accelerate the market growth. Fertilizers are natural or chemical substances used to aid growth and nourishment in plants when added to the soil.
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The increasing population as well as the growing demand for food will drive the industry expansion. The compounds provide several advantages that include higher crop production in limited areas and improvement in soil nutrient availability. The development of innovative products like water-soluble fertilizers has enabled farmers to use manures more efficiently, minimizing the risk of excess usage.
Governments across North America are introducing initiatives to encourage the local production of composts, thereby giving farmers a wider range of choices. For instance, the U.S. Department of Agriculture (USDA), in March 2022, announced plans to support the additional production of fertilizers for American farmers, to address and overcome the challenge of rising costs. One of these plans includes investing USD 250 million through a new grant program to back innovative, independent, and sustainable fertilizer production in the U.S.
North America Market, By Form
The dry form segment revenue in the North America fertilizer market will surpass USD 24 billion by 2028, owing to easy storage and slow-release rate, which helps in feeding the crops for a longer time. These products can also form various blends through the process of mixing different granular fertilizers in varied proportions in a proper ratio to create the required mix.
Dry fertilizers are highly efficient, especially for pre-planting applications as they also have a slow-release rate, feeding the crops for a longer time in some seasons. However, high salt content and different nutrient compositions can burn the leaves and restrict the nutrient flow.
North America Fertilizer Market, By Product
The organic fertilizers segment will grow at a significant CAGR during the forecast period, due to the shifting focus towards organic farming that not only reduces pollution and soil erosion, but also conserves water and increases the soil fertility.
Organic fertilizers are made from materials derived from nature. This factor has encouraged farmers to make organic manures at home or buy the same from nearby stores. Furthermore, renewability, biodegradability, and eco-friendliness are some of the prominent features promoting the demand for these products.
North America Market, By Application
The North America fertilizer market size from agriculture sector will record an attractive growth rate through 2028, attributed to the robust use of fertilizers to replenish the nutrients that crops consume from the soil. These nutrients help the plants grow, which is why they are widely used to boost agricultural productivity across the world. Fertilizers also find extensive applications in horticulture, gardening, and other areas, mainly including nurseries, golf courses, grounds, etc.
Federal governments are seeking consultations from farmers on various ways to reduce the carbon emissions from fertilizers. For example, in March 2022, the Canadian government started a fresh round of talks with farmers to receive guidance on innovative ways to achieve the country’s target of decreasing GHG emissions from fertilizers by 30% by 2030.
Rapidly growing population and increase in exports have amplified the food production in North America. Rising permaculture practices in the region have decreased the availability of arable land, raising concerns for governments to meet the growing food demand by using fertilizers.
Competitive Industry Landscape
Prominent participants operating across the North America fertilizer market include Scotts Miracle-Gro Company, Sigma Agriscience LLC, California Organic Fertilizers, CF Industries, BASF SE, Yara International, The Mosaic Company, Trammo, Terra Nitrogen Company, and Agrium.