India Fertilizers Market - Growth, Trends, and Forecasts (2017 - 2022)
Fertilizers are used as the most important input after seeds as they help in increasing the agricultural production. Fertilizer production and consumption has increased over time due to land scarcity and increased demand for agricultural products. India is one of the largest consumers of chemical fertilizers in the world. The fertilizers market in India is expected to reach a market value of USD XX in 2021 from USD 27.1 billion in 2016, growing at a CAGR of XX%.
The demand for food is expected to increase and with the limited land available, the use of fertilizers is expected to grow. The new Indian government fertilizer policy is expected to reduce dependency on imports of fertilizers and hence will promote the domestic production. The fall in raw material prices is expected to stabilize the fertilizer prices in the future.
The increasing population growth has led to food security concern and increased awareness among the farmers about the uses of fertilizers. Some of the other factors driving the growth of the market are high government subsidies and growing investments in the fertilizer industry. There is a shortage of raw materials in the country and the consequent dependency on imports is leading to volatile prices in the fertilizer industry. However, the new policies will help in stabilizing the raw material prices during the coming years.
The regionâ€™s fertilizer market is classified on the basis of type and crop application. By type, the market is segmented into nitrogen, phosphorus, potash and other macro fertilizers, wherein nitrogen-based fertilizers account for the highest market share. By application, the market is segmented into crop and non-crop. The nitrogen fertilizer market is the largest market in India and the urea market is also expected to grow at fast pace with the introduction of the new fertilizer policy.
Major companies in the sector include:
Chemical Co. Limited
Coromandel International Limited
Gujarat State Fertilizers
Indian Farmers Fertilizer Co-operative Ltd
Nagarjuna Fertilizers and Chemical Limited
National Fertilizer Limited
Recent Industry Insights
â€œThe Government provides huge subsidies to the agriculture industry. In the 2015-16 budget, the Indian Government has announced a subsidy of USD 10 billion to the fertilizers industry.â€
Key Deliverables in the Study
Market analysis for the Indian fertilizers market with competition analysis.
Market overview and identification and analysis of the macro and micro factors that affect the Indian fertilizers market.
Extensively researched competitive landscape section with profiles of major companies and their market share, along with an analysis of their current strategic interests and financial information and strategies adopted by them to sustain and grow in the studied market.
The report holds importance for the following stakeholders-
Producers and manufacturers
Agricultural input companies
Enterprises operating in the industry
Traders and stakeholders operating in the sector
Investors/research institutions interested in the market