Pune, India, May 04, 2022 (GLOBE NEWSWIRE) --
As per a recent industry report put forward by Graphical Research, the Europe fertilizer market is forecast to register its name in the billion-dollar fraternity down the line of seven years, by exceeding a revenue of USD 32 billion by 2027.
Rising population will be one of the most important factors driving Europe fertilizer market forecast. The regional population is growing at a notable rate every year and so is the demand for high-quality and fresh food items. Fertilizers keep the crops healthy and help farmers in increasing their annual crop yield.
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According to a report by the European Union Census Bureau, the regional population is estimated to reach 738 million by 2030 from around 513.5 million in January 2019. This aspect will play a major role in fueling the demand for food products, which will eventually have a positive impact on the need for good-quality fertilizers in the region.
Some of the noteworthy trends that will support this industry forecast are mentioned below:
- Fertilizers see substantial consumption in agriculture:
Fertilizers will be highly demanded for agricultural activities in Europe. Regional farmers grow different kinds of crops like rice (paddy), wheat, barley, maize, and millets, among others to meet the needs of consumers and lower dependency on crop imports. These crops are considered as important foods for a large number of the regional population. In addition to this, fertilizers increase the proportions of naturally present soil nutrients like Nitrogen, Phosphorous, and Potassium, typically called the N-P-K elements.
- Use of organic fertilizers to increase crop yield:
Organic fertilizers are made using natural ingredients that are quite beneficial for the health and yield of crops. Europe fertilizer market share from organic fertilizer segment is projected to record a steady CAGR of more than 5% up to 2027. The different types of organic fertilizers used are animal, plant, and mineral based. They have a slow feed process, which means that the fertilizers gradually release their nutrients into the plants, especially during cold climate, as the soil nutrients are not as active as during summers.
Organic fertilizers have excellent water-holding capacity which helps the soil to store water for a longer period of time. This feature prevents soil erosion to a great extent. Organic fertilizers improve the overall structure of the soil and people can make the manure at home by themselves using vegetable leftovers, bone meal, and other natural ingredients.
- Dry fertilizers gain momentum:
While both dry and liquid fertilizers are useful for crop cultivation, dry fertilizers held nearly 80% share of Europe market in 2020. These fertilizers are added to the soil and then are gradually released into the plants. They have a slow feeding capacity, which keeps the plants healthy and nutritious for a longer period of time. They are quite easy to store and cost-effective, thereby fostering their demand among farmers in the region.
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- Turkey fertilizer market showcases significant progress:
Turkey fertilizer market size is expected to grow at an appreciable rate in the forthcoming years as the country’s imports of fertilizers are more than its exports to other nations. It imports nitrogen-based fertilizers from Iran, Egypt, China, and Russia and phosphorous-based ones from Egypt and Bulgaria. Similarly, Turkey imports a large percentage of potassium-based fertilizers from countries like Jordan, Israel, Belarus, and the Russian Federation.
Such large volumes of imports will play an important role in fulfilling Turkey’s demands for high-quality fertilizers. When it comes to exporting the product, Turkey’s main export partners are Spain, Ukraine, Morocco, Iran, Lebanon, Greece, and Belgium, among a few others.
Fertilizers are important for crops as they protect them from various diseases and insects that can pose some serious danger to the crop’s health. With the harvests being healthy enough to be sold in wholesale markets, it will help farmers earn a respectable amount of profit from their sales. The climatic conditions in Europe are quite erratic, whereas a very small percentage of the regional population engages in farming activities. These factors threaten the high production level and quality of crops.
Browse Related Report:
North America Fertilizer Market Forecast 2027 By Form (Dry, Liquid), By Application (Agriculture, Horticulture, Gardening), By Product (Organic, Inorganic), Research Report, Country Outlook, (U.S., Canada), COVID-19 Impact Statistics, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share
https://www.graphicalresearch.com/industry-insights/1858/north-america-fertilizer-market
Asia Pacific Fertilizer Market Size By Product (Inorganic {Nitrogen [Anhydrous Ammonia, Urea, CAN, Ammonium Sulfate, UAN Solution], Phosphorus [Monoammonium Phosphate, Diammonium Phosphate, Triple Superphosphate, Ammonium Polyphosphate, Ordinary Superphosphate, Others], Potassium [Potassium Sulfate, Potassium Chloride, Potassium Nitrate]}, Organic {Animal-Based, Plant-Based, Mineral-Based}), By Form (Liquid, Dry), By Application (Horticulture, Agriculture, Gardening, Others), Industry Study Report, Price Trends, Competitive industry Share, Growth Potential & Forecast, 2020 – 2026
https://www.graphicalresearch.com/industry-insights/1616/asia-pacific-fertilizer-market
About Graphical Research:
Graphical Research is a business research firm that provides industry insights, market forecast and strategic inputs through granular research reports and advisory services. We publish targeted research reports with an aim to address varied customer needs, from market penetration and entry strategies to portfolio management and strategic outlook. We understand that business requirements are unique: our syndicate reports are designed to ensure relevance for industry participants across the value chain. We also provide custom reports that are tailored to the exact needs of the customer, with dedicated analyst support across the purchase lifecycle.
