FMI Report – Market Research Blog

According to the reports published by FMI, the global market for green fertilizers is expected to have an average CAGR of 4.5% during the forecast period. The current valuation of the market is $2,145.73 million in 2023. It is expected that the market value of the green fertilizer market will surpass a market valuation of $3,332.26 million by the year 2033. A historical market valuation of $2,053.33 million has been established. recorded by Future Market Insights analysts for the relevant market during the base year.

FMI has analyzed that the urban population is increasingly concerned about their health. They are increasingly focusing on consuming food that is free and free from chemicals or synthetics. This is identified as a key element pushing the farmers towards the adoption of green fertilizers.

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Several technological advancements have been made in the production of green fertilizers by using genomic and biotechnological tools. Moreover, stringent regulations imposed by the government to reduce carbon footprint and sustainable techniques for healthy crop production are identified to segment the growth of the market over the forecast period.

However, the high costs associated with green fertilizer production, coupled with the wide availability of synthetic fertilizers at lower prices, are expected to hinder the pace of progress until 2033.

Key points from the green fertilizer market

• The green fertilizer market has witnessed an increase of approximately $92.4 million between the base year and the current year.
• The alkaline water electrolysis segment is expected to progress at a moderate pace, with a CAGR of 6.5% through 2033. This segment is likely to surpass US$121.36 million valuation by 2033.
• The nitrate-based fertilizer segment registered a CAGR of 5.3% through 2023 and currently has a market value of USD 64.09 billion.
• The North American region is expected to maintain dominant shares throughout the forecast period, reaching a CAGR of 6.3% through 2023.

“Farmers’ increasing demand for fertilizers with a relatively long shelf life and easy transportation is likely to create lucrative growth opportunities for green fertilizer producers.” – Says an FMI analyst.

Competitive landscape in the green fertilizer market

Key market players operating in the green fertilizer market are embarking on new product launches, including plant-based green fertilizers. The existence of numerous international and regional companies is creating a market for green manures.

To strengthen their position in the market, major players are implementing a variety of methods, including product portfolio growth and regional development. The key players are adopting various business strategies such as mergers and acquisitions to expand their geographic presence and consumer base across the world.

Yara International ASA, Siemens Energy, Origin Energy Limited, Iberdrola, SA, HY2GEN AG and Hive Energy are some of the major players in the market.

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Key segments in the green fertilizer market

By technology:

• Alkaline water electrolysis
• Proton exchange membrane
• Solid oxide electrolysis

By fertilizer:

• Packaging
• Ammonium nitrate (AN)
• Calcium ammonium nitrate (CAN)

Per region:

• North America
• Latin America
• Asiatic-Pacific
• Middle East and Africa (MEA)
• Europe

About Future Market Insights (FMI)

Future Market Insights, Inc. (ESOMAR Certified, Stevie Award Recipient and Member of the Greater New York Chamber of Commerce) provides deep insights into the driving factors driving demand in the market. FMI is the leading global provider of market information, advisory services, consultancy and events for the Packaging, Food and Beverage, Consumer Technology, Healthcare, Industrial and Chemical markets. With a vast team of approximately 400 analysts worldwide, FMI offers global, regional and local expertise on diverse domains and industry trends in more than 110 countries.

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Website: https://www.futuremarketinsights.com
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