Market Trends of india specialty fertilizer Industry
manganese deficiency is a common problem in European countries, which most frequently affects sandy soils, organic soils with a pH above 6
- The area under field crop cultivation in the country increased by 3.5% during 2017-2022. The increased cultivation of cereals, pulses, and oilseeds in the country due to the rising consumer demand domestically and internationally is the major driving factor for the rising acreage.
- By crop type, rice, wheat, and soybean occupied the largest area under cultivation in the country, accounting for 47 million ha, 31.1 million ha, and 12.3 million ha in the year 2022. Rice is the most important food crop of India, covering about one-fourth of the total cropped area and providing food to about half of the Indian population. It is cultivated in almost all the states of the country, mainly in West Bengal, Uttar Pradesh, Andhra Pradesh, Punjab, and Tamil Nadu.
- Accordingly, rice consumption in the country increased from 95.8 million tons in 2016 to 107 million tons in 2022, which shows the rising demand for the crop in the country. This trend is further anticipated to drive the demand for fertilizers during 2023-2030. Similarly, wheat cultivation in the country increased from 98.5 million tons in 2017 to 107.6 million tons in the year 2020. It is cultivated majorly in Punjab, West Bengal, Haryana, and Rajasthan. Wheat is the second most important cereal crop in India and plays a vital role in the food and nutritional security of the country. Therefore, the intense cereal cultivation in the country, coupled with rising domestic and international demand, is anticipated to drive the Indian fertilizer market during 2023-2030.
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Among the primary nutrients, nitrogen is the most-applied nutrient in field crops, with an average application rate of 223.5 kg per hectare
- The overall primary nutrient average application rate in 2022 was 125.1 kg/ha, with nutrients such as nitrogen with the highest average application rate of 223.5 kg/ha. Accordingly, nitrogen is the major source of nutrients for crops such as rice, which is intensively cultivated in the country, and such nutrient deficiency in soil is limiting rice productivity across the nation.
- The State of Biofertilizers and Organic Fertilizers in India marked poor status of soil health and increasing consumption of chemical fertilizers in India. Accordingly, 97.0%, 83.0%, and 71.0% of the soil tested were found to be deficient in nitrogen, phosphorous, and potassium.
- By crop, wheat, rice, and corn/maize were estimated to be the crop types with the highest average nutrient application rate of 231, 156, and 149 kg/ha in 2022. Wheat and rice are important staple food domestically and globally. Multiple nutrient deficiencies are the key factors that reduce yield and profit. Wheat and rice crops require nitrogen, phosphorous, and potassium, along with other micronutrients such as sulfur, boron, iron, and zinc, for their proper growth and development. The proper management of nutrients is necessary for successful crop production, which in turn is driving market growth.
- Field crops consume the maximum amount of primary nutrients, such as nitrogen fertilizer. As grains and cereals are intensively grown in the country, the soil is depleted of its nutrition, and hence they require more amount of fertilizers to supplement them, which in turn is anticipated to drive the market during 2023-2030.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The area under horticulture is steadily increasing over the years due to the increasing demand for fruits and vegetables
- Manganese and copper are the highly applied nutrients in India with 12.3 kg/ha and 7.3 kg/ha in 2022, due to their widespread deficiencies in soil
- Due to its critical function in the development of plant tissues and its contribution to overall plant growth, calcium is the secondary macronutrient that receives the highest application
- More than half of India’s cultivated land now has access to assured irrigation
- Widespread micronutrient deficiency in soils of India is leading to reduced crop yield
- Among the primary nutrients, nitrogen is used in larger amounts to aid in rapid vegetative growth and the production of fruits
- Vegetable crops primarily utilized calcium and magnesium as their major secondary macronutrients, with application rates reaching up to 33 kg/ha and 31 kg/ha
