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India Fertilizer Market Growth, Analysis, Research: By Type: Chemical Fertilizer, Biofertilizer; By Product: Nitrogenous Fertilizers, Phosphatic Fertilizers, Potash Fertilizers, Complex Fertilizers, Others; By Formulation: Liquid, Dry; By Application: Grains and Cereals, Pulses and Oilseeds, Others; Regional Analysis; Competitive Landscape; 2023-2028
India Fertilizer Market Outlook
The India fertilizer market is expected to grow at a CAGR of 4.7% between 2023 and 2028, reaching a projected value of USD 1160.18 billion by 2028. The market growth is being driven by increasing demand for food production and improvements in agriculture processes.
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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 as well as trace components and are used in agriculture to help support growth of crops. 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.
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Market Analysis
Based on type, the market can be segmented into chemical fertilizer and biofertilizer. On the basis of product, the market can be divided into nitrogenous fertilizers, phosphatic fertilizers, potash fertilizers, and complex fertilizers, among others. Nitrogenous fertilizers are further divided by type into urea, ammonium nitrate, ammonium sulphate, and anhydrous ammonia, among others, while phosphatic fertilizers are sub-divided by type into monoammonium phosphate (MAP) and diammonium phosphate (DAP), among others. Meanwhile, potash fertilizers are divided by type into muriate of potash (MOP), 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 fertilizers in India can be divided into North India, West India, South India, and East and Central India.
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.
- Coromandel International Limited
- Chambal Fertilisers and Chemicals Ltd
- Gujarat Narmada Valley Fertilizers and Chemicals Ltd
- Indian Farmers Fertiliser Cooperative Limited (IFFCO)
- Rama Phosphates Limited
- ICL Group Ltd
- The Fertilisers and Chemicals Travancore Limited (FACT)
- Deepak Fertilisers and Petrochemicals Corporation Ltd. (DFPCL)
- Gujarat State Fertilizers & Chemicals Limited
- Rashtriya Chemicals and Fertilizers Limited (RCFL)
- National Fertilizers Limited
- Southern Petrochemical Industries Corporation Ltd
- 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 Gujarat Narmada Valley Fertilizers and Chemicals Ltd, Indian Farmers Fertiliser Cooperative Limited (IFFCO), ICL Group Ltd, The Fertilisers and Chemicals Travancore Limited (FACT), Deepak Fertilisers and Petrochemicals Corporation Ltd. (DFPCL), Gujarat State Fertilizers & Chemicals Limited, Rashtriya Chemicals and Fertilizers Limited (RCFL), National Fertilizers Limited, and Southern Petrochemical Industries Corporation Ltd, 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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| 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 Global Fertilizer Market Overview
8.1 Key Industry Highlights
8.2 Global Fertilizer Historical Market (2018-2022)
8.3 Global Fertilizer Market Forecast (2023-2028)
8.4 Global Fertilizer Market Share by Region
8.4.1 North America
8.4.2 Europe
8.4.3 Asia Pacific
8.4.4 Latin America
8.4.5 Middle East and Africa
9 India Fertilizer Market Overview
9.1 Key Industry Highlights
9.2 India Fertilizer Historical Market (2018-2022)
9.3 India Fertilizer Market Forecast (2023-2028)
10 India Fertilizer Market by Type
10.1 Chemical Fertilizer
10.1.1 Historical Trend (2018-2022)
10.1.2 Forecast Trend (2023-2028)
10.2 Biofertilizer
10.2.1 Historical Trend (2018-2022)
10.2.2 Forecast Trend (2023-2028)
11 India Fertilizer Market by Product
11.1 Nitrogenous Fertilizers
11.1.1 Historical Trend (2018-2022)
11.1.2 Forecast Trend (2023-2028)
11.1.3 Breakup by Type
11.1.3.1 Urea
11.1.3.2 Ammonium Nitrate
11.1.3.3 Ammonium Sulphate
11.1.3.4 Anhydrous Ammonia
11.1.3.5 Others
11.2 Phosphatic Fertilizers
11.2.1 Market Share
11.2.2 Historical Trend (2018-2022)
11.2.3 Forecast Trend (2023-2028)
11.2.4 Breakup by Type
11.2.4.1 Monoammonium Phosphate (MAP)
11.2.4.2 Diammonium Phosphate (DAP)
11.2.4.3 Others
11.3 Potash Fertilizers
11.3.1 Market Share
11.3.2 Historical Trend (2018-2022)
11.3.3 Forecast Trend (2023-2028)
11.3.4 Breakup by Type
11.3.4.1 Muriate of Potash (MOP)
11.3.4.2 Others
11.4 Complex Fertilizers
11.4.1 Market Share
11.4.2 Historical Trend (2018-2022)
11.4.3 Forecast Trend (2023-2028)
11.5 Others
12 India Fertilizer Market by Formulation
12.1 Liquid
12.1.1 Historical Trend (2018-2022)
12.1.2 Forecast Trend (2023-2028)
12.2 Dry
12.2.1 Historical Trend (2018-2022)
12.2.2 Forecast Trend (2023-2028)
13 India Fertilizer Market by Application
13.1 Grains and Cereals
13.1.1 Historical Trend (2018-2022)
13.1.2 Forecast Trend (2023-2028)
13.2 Pulses and Oilseeds
13.2.1 Historical Trend (2018-2022)
13.2.2 Forecast Trend (2023-2028)
13.3 Commercial Crops
13.3.1 Historical Trend (2018-2022)
13.3.2 Forecast Trend (2023-2028)
13.4 Fruits and Vegetables
13.4.1 Historical Trend (2018-2022)
13.4.2 Forecast Trend (2023-2028)
13.5 Others
14 India Fertilizer Market by Region
14.1 North India
14.1.1 Historical Trend (2018-2022)
14.1.2 Forecast Trend (2023-2028)
14.2 East and Central India
14.2.1 Historical Trend (2018-2022)
14.2.2 Forecast Trend (2023-2028)
14.3 West India
14.3.1 Historical Trend (2018-2022)
14.3.2 Forecast Trend (2023-2028)
14.4 South India
14.4.1 Historical Trend (2018-2022)
14.4.2 Forecast Trend (2023-2028)
15 Market Dynamics
15.1 SWOT Analysis
15.1.1 Strengths
15.1.2 Weaknesses
15.1.3 Opportunities
15.1.4 Threats
15.2 Porter’s Five Forces Analysis
15.2.1 Supplier’s Power
15.2.2 Buyer’s Power
15.2.3 Threat of New Entrants
15.2.4 Degree of Rivalry
15.2.5 Threat of Substitutes
15.3 Key Indicators for Demand
15.4 Key Indicators for Price
16 Value Chain Analysis
17 Trade Data Analysis (HS Code - 310520)
17.1 Major Importing Countries
17.1.1 By Volume
17.1.2 By Value
17.2 Major Exporting Countries
17.2.1 By Volume
17.2.2 By Value
18 Price Analysis
19 Competitive Landscape
19.1 Market Structure
19.2 Company Profiles
19.2.1 Coromandel International Limited
19.2.1.1 Company Overview
19.2.1.2 Product Portfolio
19.2.1.3 Demographic Reach and Achievements
19.2.1.4 Certifications
19.2.2 Chambal Fertilisers and Chemicals Ltd
19.2.2.1 Company Overview
19.2.2.2 Product Portfolio
19.2.2.3 Demographic Reach and Achievements
19.2.2.4 Certifications
19.2.3 Gujarat Narmada Valley Fertilizers and Chemicals Ltd
19.2.3.1 Company Overview
19.2.3.2 Product Portfolio
19.2.3.3 Demographic Reach and Achievements
19.2.3.4 Certifications
19.2.4 Indian Farmers Fertiliser Cooperative Limited (IFFCO)
19.2.4.1 Company Overview
19.2.4.2 Product Portfolio
19.2.4.3 Demographic Reach and Achievements
19.2.4.4 Certifications
19.2.5 Rama Phosphates Limited
19.2.5.1 Company Overview
19.2.5.2 Product Portfolio
19.2.5.3 Demographic Reach and Achievements
19.2.5.4 Certifications
19.2.6 ICL Group Ltd
19.2.6.1 Company Overview
19.2.6.2 Product Portfolio
19.2.6.3 Demographic Reach and Achievements
19.2.6.4 Certifications
19.2.7 The Fertilisers and Chemicals Travancore Limited (FACT)
19.2.7.1 Company Overview
19.2.7.2 Product Portfolio
19.2.7.3 Demographic Reach and Achievements
19.2.7.4 Certifications
19.2.8 Deepak Fertilisers and Petrochemicals Corporation Ltd. (DFPCL)
19.2.8.1 Company Overview
19.2.8.2 Product Portfolio
19.2.8.3 Demographic Reach and Achievements
19.2.8.4 Certifications
19.2.9 Gujarat State Fertilizers & Chemicals Limited
19.2.9.1 Company Overview
19.2.9.2 Product Portfolio
19.2.9.3 Demographic Reach and Achievements
19.2.9.4 Certifications
19.2.10 Rashtriya Chemicals and Fertilizers Limited (RCFL)
19.2.10.1 Company Overview
19.2.10.2 Product Portfolio
19.2.10.3 Demographic Reach and Achievements
19.2.10.4 Certifications
19.2.11 National Fertilizers Limited
19.2.11.1 Company Overview
19.2.11.2 Product Portfolio
19.2.11.3 Demographic Reach and Achievements
19.2.11.4 Certifications
19.2.12 Southern Petrochemical Industries Corporation Ltd
19.2.12.1 Company Overview
19.2.12.2 Product Portfolio
19.2.12.3 Demographic Reach and Achievements
19.2.12.4 Certifications
19.2.13 Others
20 Key Trends and Developments in the Market
List of Key Figures and Tables
1. Global Fertilizer Market: Key Industry Highlights, 2018 and 2028
2. India Fertilizer Market: Key Industry Highlights, 2018 and 2028
3. India Fertilizer Historical Market: Breakup by Type (USD Billion), 2018-2022
4. India Fertilizer Market Forecast: Breakup by Type (USD Billion), 2023-2028
5. India Fertilizer Historical Market: Breakup by Product (USD Billion), 2018-2022
6. India Fertilizer Market Forecast: Breakup by Product (USD Billion), 2023-2028
7. India Fertilizer Historical Market: Breakup by Formulation (USD Billion), 2018-2022
8. India Fertilizer Market Forecast: Breakup by Formulation (USD Billion), 2023-2028
9. India Fertilizer Historical Market: Breakup by Application (USD Billion), 2018-2022
10. India Fertilizer Market Forecast: Breakup by Application (USD Billion), 2023-2028
11. India Fertilizer Historical Market: Breakup by Region (USD Billion), 2018-2022
12. India Fertilizer Market Forecast: Breakup by Region (USD Billion), 2023-2028
13. Major Importing Countries by Volume
14. Major Exporting Countries by Volume
15. Major Importing Countries by Value
16. Major Exporting Countries by Value
17. 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 USD 1160.18 billion by 2028.
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 and Central 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 Coromandel International Limited, Chambal Fertilisers and Chemicals Ltd, Gujarat Narmada Valley Fertilizers and Chemicals Ltd, Indian Farmers Fertiliser Cooperative Limited (IFFCO), Rama Phosphates Limited, ICL Group Ltd, The Fertilisers and Chemicals Travancore Limited (FACT), Deepak Fertilisers and Petrochemicals Corporation Ltd. (DFPCL), Gujarat State Fertilizers & Chemicals Limited, Rashtriya Chemicals and Fertilizers Limited (RCFL), National Fertilizers Limited, and Southern Petrochemical Industries Corporation Ltd, among others.
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