According to the latest report by IMARC Group, titled “Indian Fertilizer Market Price: Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026”, the Indian fertilizer market reached a value of INR 887 Billion in 2020. Looking forward, IMARC Group expects the market to grow at a CAGR of 5.5% during 2021-2026. Fertilizers are natural or synthetic materials containing chemical elements that supply essential growth nutrients to plants. They can be applied to the soil or directly on plant bodies. Aside from boosting growth, they also increase crop yield while improving the soil’s nutrient content. Fertilizers are available in a wide range of varieties- they can be natural, synthetic, or organic. India is the second-largest consumer of fertilizers globally, and although all types of fertilizers are used in India, organic fertilizers have been trending lately.
We are regularly tracking the direct effect of COVID-19 on the market, along with the indirect influence of associated industries. These observations will be integrated into the report.
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Market Trends:
The Indian fertilizer market is primarily driven by the rising food demand across the country. As a result of increasing population levels, more and more farmlands are cultivated to increase yields to meet the food demand. In addition, rising crop prices are also providing a positive outlook to the Indian fertilizer market. Some of the other factors, including considerable growth in the biotech industry, product innovations, profitable government initiatives and subsidies, extensive research, and development (R&D) activities along with the growing demand for nitrogen, phosphorus, potassium, and micronutrient fertilizers, are further driving the market growth.
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Competitive Landscape:
The competitive landscape of the market has been studied in the report with the detailed profiles of the top Indian fertilizer companies operating in the market are
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