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India Fertilizer Market Size, Growth, Analysis, Research: By Type: Chemical Fertilizer, Biofertilizer; By Product: Nitrogenous Fertilizers, Phosphatic Fertilizers, Potash Fertilizers, Complex Fertilizers, Others; By Formulation; By Application; Regional Analysis; Competitive Landscape; Industry Events and Developments; 2023-2028
India Fertilizer Market Outlook
The India market size for fertilizers reached a value of more than USD 841.2 billion in 2021. The India fertilizer market is expected to grow at a CAGR of 4.7% between 2023 and 2028, reaching a projected value of USD 1108.1 billion by 2027.
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News and Developments in the Market
In September 2022, Coromandel International launched an organic product named Cumist Calcium at Hotel Novotel in Vijayawada. The new product includes specialty nutrients and improves efficiency and soil health.
In August 2022, the Ministry of Chemicals and Fertilizer instructed all companies to employ the new brand name ‘Bharat’ and the logo of the subsidy scheme on the bags in order to convey the government's decision.
In August 2022, Gujrat Chief Minister introduced IFFCO Nano Urea Spraying Scheme. The Gujarat CM praised the farmers for employing drones to spray nano urea for the first time in the state as well as encouraged them to take benefit of the innovative drone technology scheme in agriculture which will further help them in saving time and energy. This technology is expected to help support the India fertilizer market.
In September 2021, Coromandel International launched GroShakti Fertilizer. This fertilizer features advanced technology and an enhanced complex fertilizer with EnPhos Technology as well as Zincated 14-35-14. This offers a high nutrient percentage along with less filler material, due to which it does not damage the soil mechanism.
Key Trends in the Market
Fertilizers are composed of phosphorus, potassium, and nitrogen compounds. They also include trace components that enhance the plant’s growth. The major components in fertilizers are nutrients that are considered essential for the growth of plants. Plants employ nitrogen in the synthesis of nucleic acids, hormones, and proteins.
- The growth of the India fertilizer market is driven by the rising demand for food in the country due to the growing population and limited land availability.
- The huge agricultural demands and the rising size of the potential consumer base are expected to drive the market demand for fertilizer in the region due to increasing consumption of fertilizer.
- India is considered home to several leading private as well as government fertilizer companies. Several fertilizer companies in India are expanding from fertilizers to seeds and fungicides. This is likely to be one of the primary aspects behind the fertilizer market growth in India.
- The rise in agricultural production and several government initiatives to enhance credit availability along with increasing investments are supporting the India fertilizer market growth during the forecast period.
- With the India’s sustainable production of food grains, the consumption of fertilizer is expected to increase over the coming years in the country.
Market Analysis
Based on type, the market can be segmented into chemical fertilizer and biofertilizer. Based on the product, the market can be divided into nitrogenous fertilizers, phosphatic fertilizers, potash fertilizers, and complex fertilizers, among others. On the basis of formulation, the market is segmented into liquid and dry. Based on application, the market is segregated into grains and cereals, pulses and oilseeds, commercial crops, and fruits and vegetables, among others. The regional markets for the fertilizer market can be divided into North India, West India, South India, and East India.
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The comprehensive EMR report provides an in-depth assessment of the India fertilizer market based on the Porter's five forces model along with giving a SWOT analysis. The report gives a detailed analysis of the following key players in the India fertilizer market, covering their competitive landscape and latest developments like mergers, acquisitions, investments and expansion plans.
- Chambal Fertilisers and Chemicals Ltd
- Coromandel International Limited
- Rama Phosphates Limited
- The Dharamsi Morarji Chemical Co. Ltd.
- Deepak Fertilizers & Petrochemicals Corporation Ltd.
- Zuari Agro Chemicals Ltd.
- National Fertilizers Ltd.
- Gujarat State Fertilizers & Chemicals Limited
- Others
Market Share by Formulation
The liquid segment is expected to gain momentum in the India fertilizer market as farmers have been spraying and sprinkling water-soluble fertilizers in the fields to accelerate the nutrient uptake of plants. Over the coming years, products that aid in sustaining the NPK nutrient balance are likely to be broadly adopted as they are consistent with all kinds of pesticides. Moreover, one of the key major advantages of liquid fertilizer is that the liquid penetrates the soil immediately, and plants are provided with faster access to nutrients.
Market Share by product
The nitrogenous fertilizers segment is expected to witness growth in India fertilizer market on account of the high consumption of urea in the country. Urea fertilizer consists of superior nitrogen content along with low production cost, as the source is natural which is further expected to boost the segment growth in the market across the country. The various advantages of urea fertilizers like wide range of applications, storage that is non-flammable and risk-free, suitability for every type of soil and crop, neutral pH, and harmlessness for crops and soil, are likely to enhance the segment demand in the fertilizer market.
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Competitive Landscape
Chambal Fertilisers and Chemicals Ltd is an Indian agrochemicals manufacturing company. It has strengthened its position as a leading player in the India fertilizer market after the commissioning of the Gadepan III plant. The company is dedicated to its social duties and has invested in areas ranging from water harvesting and rural infrastructure, to healthcare, women empowerment, skill development, and education.
Coromandel International Limited is India’s leading and pioneering agri-solutions supplier, providing various products and services all over the farming value chain. Its ‘Farmer First’ approach and quality focus, along with consumer connection initiatives have aided in gaining farmers’ trust and have founded ‘Gromor’ among the most trusted brands across the country.
Rama Phosphates Limited is a leading manufacturer of phosphatic fertilizers for the India fertilizer market, particularly Single Super Phosphate (SSP) fertilizers. It manufactures SSP fertilizers in powder and granule form, as well as mixed fertilizers such as NPK of different grades, fortified fertilizers such as boronated Single Super Phosphate, micronutrients such as magnesium sulphate, and chemicals like sulphuric acid and oleum.
The Dharamsi Morarji Chemical Co. Ltd. is a specialty chemicals and commodity chemicals manufacturing company. The company aims to maintain a healthy relationship with the environment, extend its responsibility to society, and prioritise sustainable development.
Other market players include Deepak Fertilizers & Petrochemicals Corporation Ltd., Zuari Agro Chemicals Ltd., National Fertilizers Ltd., and Gujarat State Fertilizers & Chemicals Limited, among others.
Key Highlights of the Report
| REPORT FEATURES | DETAILS |
|---|---|
| Base Year | 2022 |
| Historical Period | 2018-2022 |
| Forecast Period | 2023-2028 |
| Scope of the Report |
Historical and Forecast Trends, Industry Drivers and Constraints, Historical and Forecast Market Analysis by Segment:
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| Breakup by Type |
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| Breakup by Product |
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| Breakup by Formulation |
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| Breakup by Application |
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| Breakup by Region |
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| Market Dynamics |
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| Trade Data Analysis |
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| Price Analysis |
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| Competitive Landscape |
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| Companies Covered |
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*At Expert Market Research, we strive to always give you current and accurate information. The numbers depicted in the description are indicative and may differ from the actual numbers in the final EMR report.
1 Preface
2 Report Coverage – Key Segmentation and Scope
3 Report Description
3.1 Market Definition and Outlook
3.2 Properties and Applications
3.3 Market Analysis
3.4 Key Players
4 Key Assumptions
5 Executive Summary
5.1 Overview
5.2 Key Drivers
5.3 Key Developments
5.4 Competitive Structure
5.5 Key Industrial Trends
6 Market Snapshot
7 Opportunities and Challenges in the Market
8 India Fertilizer Market Analysis
8.1 Key Industry Highlights
8.2 India Fertilizer Historical Market (2018-2022)
8.3 India Fertilizer Market Forecast (2023-2028)
8.4 India Fertilizer Market by Type
8.4.1 Chemical Fertilizer
8.4.1.1 Market Share
8.4.1.2 Historical Trend (2018-2022)
8.4.1.3 Forecast Trend (2023-2028)
8.4.2 Biofertilizer
8.4.2.1 Market Share
8.4.2.2 Historical Trend (2018-2022)
8.4.2.3 Forecast Trend (2023-2028)
8.5 India Fertilizer Market by Product
8.5.1 Nitrogenous Fertilizers
8.5.1.1 Market Share
8.5.1.2 Historical Trend (2018-2022)
8.5.1.3 Forecast Trend (2023-2028)
8.5.1.4 Breakup by Type
8.5.1.4.1 Urea
8.5.1.4.2 Ammonium Nitrate
8.5.1.4.3 Ammonium Sulfate
8.5.1.4.4 Anhydrous Ammonia
8.5.1.4.5 Others
8.5.2 Phosphatic Fertilizers
8.5.2.1 Market Share
8.5.2.2 Historical Trend (2018-2022)
8.5.2.3 Forecast Trend (2023-2028)
8.5.2.4 Breakup by Type
8.5.2.4.1 Monoammonium Phosphate (MAP)
8.5.2.4.2 Diammonium Phosphate (DAP)
8.5.2.4.3 Others
8.5.3 Potash Fertilizers
8.5.3.1 Market Share
8.5.3.2 Historical Trend (2018-2022)
8.5.3.3 Forecast Trend (2023-2028)
8.5.3.4 Breakup by Type
8.5.3.4.1 Muriate of Potash (MOP)
8.5.3.4.2 Others
8.5.4 Complex Fertilizers
8.5.4.1 Market Share
8.5.4.2 Historical Trend (2018-2022)
8.5.4.3 Forecast Trend (2023-2028)
8.5.5 Others
8.6 India Fertilizer Market by Formulation
8.6.1 Liquid
8.6.1.1 Market Share
8.6.1.2 Historical Trend (2018-2022)
8.6.1.3 Forecast Trend (2023-2028)
8.6.2 Dry
8.6.2.1 Market Share
8.6.2.2 Historical Trend (2018-2022)
8.6.2.3 Forecast Trend (2023-2028)
8.7 India Fertilizer Market by Application
8.7.1 Grains and Cereals
8.7.1.1 Market Share
8.7.1.2 Historical Trend (2018-2022)
8.7.1.3 Forecast Trend (2023-2028)
8.7.2 Pulses and Oilseeds
8.7.2.1 Market Share
8.7.2.2 Historical Trend (2018-2022)
8.7.2.3 Forecast Trend (2023-2028)
8.7.3 Commercial Crops
8.7.3.1 Market Share
8.7.3.2 Historical Trend (2018-2022)
8.7.3.3 Forecast Trend (2023-2028)
8.7.4 Fruits and Vegetables
8.7.4.1 Market Share
8.7.4.2 Historical Trend (2018-2022)
8.7.4.3 Forecast Trend (2023-2028)
8.7.5 Others
8.8 India Fertilizer Market by Region
8.8.1 Market Share
8.8.1.1 North India
8.8.1.2 East India
8.8.1.3 West India
8.8.1.4 South India
9 Regional Analysis
9.1 North India
9.1.1 Historical Trend (2018-2022)
9.1.2 Forecast Trend (2023-2028)
9.2 East India
9.2.1 Historical Trend (2018-2022)
9.2.2 Forecast Trend (2023-2028)
9.3 West India
9.3.1 Historical Trend (2018-2022)
9.3.2 Forecast Trend (2023-2028)
9.4 South India
9.4.1 Historical Trend (2018-2022)
9.4.2 Forecast Trend (2023-2028)
10 Market Dynamics
10.1 SWOT Analysis
10.1.1 Strengths
10.1.2 Weaknesses
10.1.3 Opportunities
10.1.4 Threats
10.2 Porter’s Five Forces Analysis
10.2.1 Supplier’s Power
10.2.2 Buyer’s Power
10.2.3 Threat of New Entrants
10.2.4 Degree of Rivalry
10.2.5 Threat of Substitutes
10.3 Key Indicators for Demand
10.4 Key Indicators for Price
11 Value Chain Analysis
12 Trade Data Analysis
12.1 Major Exporting Country
12.1.1 By Value
12.1.2 By Volume
12.2 Major Importing Country
12.2.1 By Value
12.2.2 By Volume
13 Price Analysis
14 Competitive Landscape
14.1 Market Structure
14.2 Company Profiles
14.2.1 Chambal Fertilisers and Chemicals Ltd
14.2.1.1 Company Overview
14.2.1.2 Product Portfolio
14.2.1.3 Demographic Reach and Achievements
14.2.1.4 Certifications
14.2.2 Coromandel International Limited
14.2.2.1 Company Overview
14.2.2.2 Product Portfolio
14.2.2.3 Demographic Reach and Achievements
14.2.2.4 Certifications
14.2.3 Rama Phosphates Limited
14.2.3.1 Company Overview
14.2.3.2 Product Portfolio
14.2.3.3 Demographic Reach and Achievements
14.2.3.4 Certifications
14.2.4 The Dharamsi Morarji Chemical Co. Ltd.
14.2.4.1 Company Overview
14.2.4.2 Product Portfolio
14.2.4.3 Demographic Reach and Achievements
14.2.4.4 Certifications
14.2.5 Deepak Fertilizers & Petrochemicals Corporation Ltd.
14.2.5.1 Company Overview
14.2.5.2 Product Portfolio
14.2.5.3 Demographic Reach and Achievements
14.2.5.4 Certifications
14.2.6 Zuari Agro Chemicals Ltd.
14.2.6.1 Company Overview
14.2.6.2 Product Portfolio
14.2.6.3 Demographic Reach and Achievements
14.2.6.4 Certifications
14.2.7 National Fertilizers Ltd.
14.2.7.1 Company Overview
14.2.7.2 Product Portfolio
14.2.7.3 Demographic Reach and Achievements
14.2.7.4 Certifications
14.2.8 Gujarat State Fertilizers & Chemicals Limited
14.2.8.1 Company Overview
14.2.8.2 Product Portfolio
14.2.8.3 Demographic Reach and Achievements
14.2.8.4 Certifications
14.2.9 Others
15 Key Trends and Developments in the Market
List of Key Figures and Tables
1. India Fertilizer Market: Key Industry Highlights, 2017 and 2021
2. India Fertilizer Historical Market: Breakup by Type (INR Million), 2018-2022
3. India Fertilizer Market Forecast: Breakup by Type (INR Million), 2023-2028
4. India Fertilizer Historical Market: Breakup by Product (INR Million), 2018-2022
5. India Fertilizer Market Forecast: Breakup by Product (INR Million), 2023-2028
6. India Fertilizer Historical Market: Breakup by Formulation (INR Million), 2018-2022
7. India Fertilizer Market Forecast: Breakup by Formulation (INR Million), 2023-2028
8. India Fertilizer Historical Market: Breakup by Application (INR Million), 2018-2022
9. India Fertilizer Market Forecast: Breakup by Application (INR Million), 2023-2028
10. India Fertilizer Historical Market: Breakup by Region (INR Million), 2018-2022
11. India Fertilizer Market Forecast: Breakup by Region (INR Million), 2023-2028
12. Major Exporting Countries by Value
13. Major Importing Countries by Value
14. Major Exporting Countries by Volume
15. Major Importing Countries by Volume
16. India Fertilizer Market Structure
Key Questions Answered in the Report
In 2021, the fertilizer market in India attained a value of nearly USD 841.2 billion.
The market is projected to grow at a CAGR of 4.7% between 2023 and 2028.
The market is estimated to witness healthy growth in the forecast period of 2023-2028, reaching a valuation of almost USD 1108.1 billion by 2027.
The major market drivers are the surging agriculture industry and increasing consumption of fertilizer.
The key India fertilizer market trends include rapid growth in technology along with growing awareness regarding the environment and increasing disposable income.
The major regions in the market are North India, West India, South India, and East India.
The primary types in fertilizer market include chemical fertilizer and biofertilizer.
The various products in the fertilizer market include nitrogenous fertilizers, phosphatic fertilizers, potash fertilizers, and complex fertilizers, among others.
The various formulation in fertilizer market are liquid and dry.
The different applications of fertilizer market include grains and cereals, pulses and oilseeds, commercial crops, and fruits and vegetables, among others.
The major players in the market are Chambal Fertilisers and Chemicals Ltd, Coromandel International Limited, Rama Phosphates Limited, The Dharamsi Morarji Chemical Co. Ltd., Deepak Fertilizers & Petrochemicals Corporation Ltd., Zuari Agro Chemicals Ltd., National Fertilizers Ltd., and Gujarat State Fertilizers & Chemicals Limited, among others.
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