A fertilizer refers to a material of synthetic or natural origin that is applied to soil or plant tissues to supply essential nutrients for growing farm-based crops. The three major components of fertilizer mixtures include nitrogen, phosphorus, and potassium. Fertilizers can be broadly classified into inorganic and organic variants. Organic fertilizers are typically produced with carbon-based agricultural waste, livestock manure, industrial waste, etc., whereas inorganic variants are manufactured using various chemicals and secondary nutrient sources. Fertilizers are utilized to supply specific nutrients that are deficient in the soil and assist in maintaining its fertility and enhancing its water retention capacity.
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The expanding agriculture sector and the growing need to enhance soil productivity are primarily driving the fertilizer market. Additionally, the increasing consumption of plant-based food items is further propelling the market growth. In line with this, the introduction of bio-fertilizers, owing to the rising concerns towards the negative impact of chemical-based fertilizers on soil quality, is also augmenting the global market. Moreover, the launch of several government policies aimed at promoting the utilization of nano-fertilizers is acting as another significant growth-inducing factor. Apart from this, the development of advanced farming techniques to bridge the demand and supply gap of food products is expected to fuel the fertilizer market over the forecasted period.
List of Top fertlizer companies in World
- CF Industries
- Haifa Group
- Indian Farmers Fertiliser Co-operative Limited (IFFCO)
- Israel Chemicals Ltd. (ICL)
- Nutrien Limited
- Sociedad Química y Minera (SQM)
- The Mosaic Company
- Yara International
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