The global nano fertilizer market size is expected to reach USD 9,377.3 million by 2030, as per the new report by Grand View Research, Inc. The market is expected to grow at a robust CAGR of 14.8% from 2022 to 2030. The industry growth is primarily driven by increasing demand for better crop yields due to a significant rise in the global population and limited availability of key resources like land.
Nano Fertilizer Market Report Highlights
- The global market is estimated to advance at a CAGR of 14.8% from 2022 to 2030. This is attributed to the rising demand for food crops due to the increasing population thus creating the need for using high-yield nano fertilizers
- North America dominated the global market in 2021 with a revenue share of over 34%. This is owed to advancement in agriculture in developed countries such as Canada and the U.S.
- Favorable policies along with technological advancements in the agricultural sector helped make the U.S., the largest consumer of nano fertilizer
- Nitrogen emerged as a major raw material used for the production of nano fertilizer in 2021, with a revenue share of over 25%. Easy and cheap availability of Nitrogen makes it the topmost preference among consumers
- Soil method of application captured the largest market share of over 70% in 2021. This growth is attributed to the capability of nano fertilizers to release nutrients in the soil, thus, enabling better penetration into the roots of the crops
- Cereals & grains are the largest application segment in terms of revenue. It contributed over 40% to the global revenue share. The growth of this segment can be attributed to the fact that it is the major source of iron, dietary proteins, vitamins, and dietary fibers required by the human body. Thus, to fulfill the growing demand for cereals & grains continues to push food growers to purchase nano fertilizers in rising quantities
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Growing focus on increasing the quantity of yield has led to the indiscriminate use of fertilizers in agriculture. This can result in both environmental and agricultural catastrophes by degrading the quality of the soil. According to a report by Food and Agricultural Organization (FAO), natural resources such as water and arable land are on the verge of exhaustion. Furthermore, degradation at a high rate continues due to intensive urbanization and excessive use of chemical fertilizers. Thus, the declining nutritional quality of food and degraded quality of soil continues to drive a gradual shift toward nanotechnology in agriculture. Nano fertilizers remains an ideal prospect to maintain the quality of soil while meeting production target.
The use of nano fertilizers can help in reducing chemical fertilizer consumption by 80 to 100 times, thus reducing the reliance on chemical fertilizers. For instance, the demand for nano urea is increasing worldwide as it has the ability to replace regular urea usage at a relatively lower cost while offering high yields to crops. By 2023 nano urea is expected to replace the usage of 13.7 million tons of conventional urea. Thus, the huge demand for nano fertilizer from the agriculture industry along with supportive government policies continues to promote newer and more efficient agriculture techniques.
The importance of policy framework remains paramount to promote sustainable growth, and such framework is already in place for nano fertilizers in key regions. For instance, U.S department of agriculture in 2020 announced to make USD 250 million investment through its new grant program. This initiative was taken to support new innovative and more efficient fertilizer production in the region. Additionally, USDA seeks growth in competition as it aims to allay concerns regarding supply chain. With its new initiatives, the USDA continues to introduce more transparency for consumers to make them aware of the safety of agriculture produce. These initiatives aimed at gauging the use of fertilizers, seeds, retail markets, continue to generate momentum for the eco-friendly and high-yield promising nano fertilizers.
By Application Analysis
Nano Fertilizers ability to improve crop yield and efficiency to deliver essential nutrients remains a lucrative prospect for food growers globally. There is an increasing demand for grains and cereals especially maize, wheat, and rice, to meet this increasing production need, and farmers are shifting towards using nano fertilizers. Thus, the usage of nano fertilizers and their promise for high yields remains key for the nourishment of all including individuals, households, and the planet at large. The eco-friendly nature of nano-fertilizer over traditional ones also remains a promising driver of growth as sustainability initiatives continue to change production practices across industries. The fruit and vegetable segment witnessed promising growth in Europe. In Europe, the U.K. is among the top three importers, accounting for nearly 80% of total the fruits and vegetable production of Europe. The increasing demand for fresh fruits and vegetables in driving in Europe amidst uncertainties created by Brexit also propels the demand for nano fertilizers.
By Method of Application Analysis
The soil method of application dominated the global market. The ability of nano fertilizer particles to easily transfer nutrients into the soil, which in turn penetrates the roots of the plants, drives the growth of the soil method of application segment. In foliar or spray application method, the fertilizer is dissolved in water and sprayed on the foliage of growing plants. The nutrient elements are then absorbed by the leaves of the plant thus resulting in sufficient delivery for the healthy growth of plants. Challenges related to application remain a restraint to the growth of this segment.
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By Raw Material Analysis
Nitrogen-based nano fertilizers are expected to witness robust growth. The fertilizer also remains easily accessible to farmers and provides rich nutrition to various crops. Carbon-based nanomaterials are also expected to witness promising growth, due to their stable molecular arrangement, low toxicity, and uniform dispersion which makes them a great fertilizer carriers. Among the carbon-based nanomaterials, carbon tubes witnessed more traction in the agricultural sector. The usage of silver-based nanomaterials in nano fertilizer continues to increase due to their ability to act as an effective fungicide.
Market Latest Trends and Developments
The nano fertilizer market is highly competitive with the presence of some big players holding a significant market share. New players continue to invest in scalability, and product advancement to occupy a larger share. For instance, Indian Farmers Fertilizer Cooperative Limited (IFFCO) a multi-state cooperative society produced over 87.02 lakh metric tons of fertilizer in 2021-2022.
List of major companies in the Nano Fertilizer Market
- Indian Farmers Fertilizer Cooperative Limited
- Lazuriton Nano Biotechnology Co., Ltd.
- Fanavar Nano-Pazhoohesh Markazi Company
- Tropical Agrosystem India (P) Ltd.
- EuroChem
- Shan Maw Myae Trading Co., Ltd
- Geolife Group
- AG CHEMI Group, s.r.o.
- JU Agri Sciences Pvt. Ltd.
- Nano Solutions
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Segmented the global nano fertilizer market based on raw material, method of application, application, and region.
Table of Contents
Fig. 1 Nano Fertilizer Market Segmentation & Scope
Fig. 2 Information Procurement
Fig. 3 Primary Research Pattern
Fig. 4 Primary Research Process
Fig. 5 Primary Research Approaches
Fig. 6 Nano Fertilizer Market Snapshot
Fig. 7 Nano Fertilizer market revenue (USD Million), 2021
Fig. 8 Nano Fertilizer market, 2018 - 2030 (Kilotons) (USD Million)
Fig. 9 Nano Fertilizer market: Value chain analysis
Fig. 10 Market dynamics
Fig. 11 PORTER’S Analysis
Fig. 12 PESTEL Analysis
Fig. 13 Nano Fertilizer market volume share, by Raw Material, 2022 & 2030 (Kilotons)
Fig. 14 Nano Fertilizer market volume share, by Method of Application, 2022 & 2030 (Kilotons)
Fig. 15 Nano Fertilizer market volume share, by Application, 2022 & 2030 (Kilotons)
Fig. 16 Nano Fertilizer volume market, by Region, 2022 & 2030 (Kilotons)
Fig. 17 Strategy Framework
