The Growing Preference For Organic Fertiliser Is A Major Impediment To The Growth Of The Global Complex Fertilisers Market

 

Complex Fertilisers

Compound fertilisers (complex fertilisers) are made by combining two or more types of macronutrient fertilisers. These fertilisers can be combined with trace or secondary nutrients such as calcium, magnesium, and sulphur to provide additional plant nutrients. Granular or liquid complex fertilisers can be distributed and packaged. The growing demand for nutrient-specific fertilisers, combined with the need for high crop yields for biofuel production, is expected to drive growth in the complex fertilisers market over the forecast period. For example, in 2017, the Indian biofuels industry invested US$ 2.25 billion in future projects, with the goal of increasing the industry's value to US$ 7.5 billion by 2022.

 

However, the growing preference for organic fertiliser is a major impediment to the growth of the global Complex Fertilisers Market. According to a report from the Research Institute of Organic Agriculture (FiBL), organic agricultural activities occupied over 50.9 million hectares of land in 2015. Oceania (22.8 million hectares, or nearly 45 percent of the world's organic agricultural land) and Europe have the most organic agricultural land (12.7 million hectares, 25 percent). Incomplete complex fertilisers accounted for 72.38 percent of the market in 2017 and are expected to continue to lead the market throughout the forecast period. Only one or two of the three primary nutrients are present in incomplete complex fertilisers (nitrogen, potassium or phosphorous).

 

With a revenue of US$ 15,769 million in 2017, Asia Pacific led the global complex fertilisers market in 2017, and it is expected to maintain its dominance throughout the forecast period. One of the major driving factors for the growth of Asia Pacific's complex fertilisers market is rising food demand from the region's countries, which is fueled by rising population. According to a 2013 Asia Development Bank study, Asia Pacific is expected to account for one-third of the projected 2.6 billion increase in global population between 2010 and 2050, necessitating additional measures to increase productivity to serve the growing population.

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