Fertilizers Market to Reach USD 389.6 Billion by 2032 | Demand from Agriculture, Sustainability, and Increasing Sustainable Farming Practices Continues to Drive Growth [Yahoo! Finance]
Nutrien Ltd. Common Shares (NTR)
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Source: Yahoo! Finance
Austin, Dec. 15, 2024 (GLOBE NEWSWIRE) -- According to SNS Insider, the Fertilizers Market size was USD 274.6 Billion in 2023 and is expected to reach USD 389.6 Billion by 2032, growing with a significant compound annual growth rate of 4.0% during the forecast period of 2024-2032. Fertilizers market is an important aspect of food production activity that provides essential nutrients for plant growth. As more and more farms are required to meet the needs of a growing global population, the global landscape of agriculture is changing and the need for fertilizers is still at an all-time high. Increasing the global food population will create 70% more food by the year 2050, this process will bind even more the need for fertilization according to FAO (Food and Agricultural Organization). Agriculture, especially in developing markets, is projected to continue as the key source of fertilizer usage. More farmers are using precision agriculture, which applies fertilizer only as needed to
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