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North American Fertilizer Market revenue to reach $28 Bn by 2028
Published Date: 2022-08-08
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North American Fertilizer Market size is anticipated to cross USD 28 billion by 2028, according to a latest forecast report by Graphical Research.
The rising demand for food due to the growing regional population along with changing food consumption patterns and limited farming are expected to drive the market trends. According to the U.S. Census Bureau, through 2050, the U.S. will remain the world’s third most populous country.
Growing urbanization coupled with economic growth in the region have caused changes in people’s eating habits. Factors, such as high meat consumption and a robust demand for protein-rich diets are fueling the need for higher grain production to feed animals. For example, to produce 1 ton of poultry meat around 2 tons of grain feed are required. Similarly, 1 ton of pork and beef meat requires 4 and 10 tons of grain feeds, respectively.
Fertilizers enable farmers to grow more food on limited land, providing considerable returns on their investment. Governments across North America are launching various initiatives to boost the region’s agriculture sector. For instance, the U.S. Department of Agriculture (USDA), in June 2022, announced plans to invest USD 43 million in urban agriculture practices to strengthen the country’s food supply chain.
The COVID-19 pandemic had a moderate effect on North America’s fertilizer supply chain. The demand for food grains skyrocketed during the first half of 2020 because the region was witnessing a major spike in instances of panic buying. This caused severe shortage of food across many parts of the region.
The governments had also imposed many movement and travel restrictions to contain the spread of the virus, which halted the production of fertilizers for a short time due to the lack of required ingredients and manpower to complete the job. This negatively influenced the production of food grains. But, with the agriculture sector gradually regaining its pace, the demand for fertilizers is set to shoot up over the coming years.
The liquid form segment will witness a strong growth rate through 2028. Farmers are opting for liquid fertilizers due to versatility in their applications. Features, such as ease of handling, blending, and uniformity during application make the product suitable for both starter as well as in-season applications. Liquid fertilizers also use less water, making them favorable for regions that face frequent water shortages. However, high production and distribution costs associated with the product may hinder the demand in the future.
Browse detailed statistical insights from the report, “North America Fertilizer Market Forecast 2028 By Form (Dry, Liquid), By Application (Agriculture, Horticulture, Gardening), By Product (Organic, Inorganic), Research Report, Country Outlook, (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share” along with the table of contents (ToC) @
The inorganic fertilizers segment will accounted for a sizeable share of the regional market in 2021. This is because inorganic fertilizers are rich in almost all 3 essential nutrients like N-P-K, which are considered essential for crops.
These composts are capable of supplying nutrients immediately to the plants when required. Excessive nutrient content may reduce soil fertility, which will hamper its adoption in the short term. Nevertheless, low logistics cost and immediate availability of key nutrients for the crop will drive the demand for inorganic fertilizers in the region.
U.S. organic fertilizer industry size will grow at 4% CAGR till 2028. The nation is increasing the adoption of organic fertilizers as they do not pollute the environment, thereby acting as an effective alternative to combat climate change. The government is also implementing various initiatives to promote the use of organic fertilizers. Canada industry share from gardening applications will exceed USD 3.8 billion by 2028.
The regional industry value from the agriculture application will increase considerably by 2028. Agricultural practices in the region are witnessing technological advancements to not only reduce manual work, but also enhance the overall crop yield rate. Similarly, fertilizer technologies are undergoing improvements to enhance the timing and placement of the compounds, while minimizing environmental damage.
The North American fertilizer market research report includes in-depth coverage of the industry with estimates & forecast in terms of volume in Kilotons & revenue in USD Million from 2017 to 2028 for the following segments:
North America Market, By Form
North America Market, By Product
- Plant-based fertilizers
- Animal-based fertilizers
- Mineral-based fertilizers
- Anhydrous ammonia
- Ammonium nitrate
- UAN solutions
- Ammonium sulfate
- Diammonium phosphate
- Monoammonium phosphate
- Triple superphosphate
- Ordinary superphosphate
- Ammonium polyphosphate
- Potassium chloride
- Potassium sulfate
- Potassium nitrate
North America Market, By Application
The above information has been provided for the following countries:
- North America