Nitrogenous Fertilizer Market Size
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Study Period | 2017 - 2030 |
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Market Size (2024) | USD 165.7 Billion |
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Market Size (2030) | USD 232.3 Billion |
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Largest Share by Product | Urea |
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CAGR (2024 - 2030) | 5.80 % |
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Largest Share by Region | Asia-Pacific |
Major Players |
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*Disclaimer: Major Players sorted in no particular order |
Nitrogenous Fertilizer Market Analysis
The Nitrogenous Fertilizer Market size is estimated at 165.7 billion USD in 2024, and is expected to reach 232.3 billion USD by 2030, growing at a CAGR of 5.80% during the forecast period (2024-2030).
165.7 Billion
Market Size in 2024 (USD)
232.3 Billion
Market Size in 2030 (USD)
6.86 %
CAGR (2017-2023)
5.80 %
CAGR (2024-2030)
Fastest Growing Type
6.88 %
Projected CAGR, Urea, 2024-2030
Urea is the most predominantly used fertilizer globally which is attributed to its high nitrogen content of 46.0%, the highest among all the nitrogenous fertilizers.
Largest Segment by Crop Type
82.81 %
value share, Field Crops, 2023
The demand for fertilizers is higher in field crop segment due to their widespread use in large-scale agriculture to improve the yield and quality of the crops.
Largest Segment by Application Mode
93 %
value share, Soil, 2023
Soil application is widely practiced in agriculture as it is an inexpensive method of applying fertilizers, making it the largest segment in the market by application mode.
Largest segment by Country
10.59 %
value share, Brazil, 2023
The adoption of precision technologies in the country has boosted the need for nitrogenous fertilizers, as it needs a modest application of recommended fertilizers.
Leading Market Player
6.55 %
market share, Yara International ASA, 2022
Yara has a strong presence globally as it provides a wide range of nitrogenous fertilizers including controlled/slow-release fertilizers, foliar, and liquid fertilizers.
The growing need to increase the production is expected to bolster the growth of the market.
- Urea is the most important and most used nitrogenous fertilizer globally. In 2022, it accounted for a 48.6% share of the total consumption of nitrogenous fertilizers globally. The global urea market was valued at USD 75.0 billion in 2022, with a volume consumption of 140.2 million metric ton in the same year.
- Anhydrous ammonia has the highest nitrogen content (82%) among all nitrogenous fertilizers, where nitrogen is readily available in the form of NH3. The global market for anhydrous ammonia was valued at USD 24.5 million in 2022, with a volume consumption of 4.3 billion metric tons in the same year. However, the usage of anhydrous ammonia as a fertilizer is restricted to the countries in North America and is commonly used in the region's corn belts since it is a highly nitrogen-consuming crop.
- The ammonium nitrate market accounted for 6.3% and 8.5%, by value and volume, respectively, of the total nitrogenous fertilizers in 2022 and it is anticipated to grow over the forecasted period 2023-2030 at 4.9% CAGR in terms of value. Ammonium Nitrate is more inexpensive than many other nitrogen fertilizers and suitable for all seasons, making it a preferred choice for growers.
- Moreover, Asia-Pacific was the largest market for nitrogenous fertilizers in 2022. It accounted for a market value share of 34.6%. In the Asia-Pacific region, China and India are the two largest consumers owing to their increasing population and large areas under cultivation.
- The global nitrogenous fertilizer market value is anticipated to grow during the forecast period at 5.6% CAGR as it is the most demanded nutrient.
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Nitrogen deficiency in major crops and reducing nitrogen use efficiency may drive the nitrogenous fertilizers market
- In 2022, the global nitrogenous fertilizer market reached a value of USD 184.7 billion, with a consumption volume of 288.8 million metric tons. This surge in nitrogen fertilizer adoption is primarily driven by the reduced efficiency of crops in utilizing nitrogen from the soil.
- Asia-Pacific dominates the nitrogenous fertilizer market, commanding a 39.0% share in 2022. Notably, China and India, both agricultural powerhouses, benefit from ample arable land, a rising food demand due to increasing population, and significant government support. These factors are poised to propel nitrogenous fertilizer consumption in the region further.
- North America accounted for market volume shares of 23.2%. In North America, the United States dominates the market, boasting the majority share due to its extensive arable land, with field crops occupying 69% of the cropland, necessitating higher nitrogen inputs.
- Followed by North America, Europe, the third-largest market, held a 16.7% volume share in 2022. The region grapples with challenges like droughts and heatwaves, which hamper nitrogen availability in the soil, leading to crop losses. Consequently, farmers in Europe increasingly turn to nitrogenous fertilizers, indicating a potential market upswing.
- Nitrogenous fertilizers hold paramount importance in agricultural production. Despite shrinking cultivated areas, the global market for these fertilizers is projected to witness growth, driven by intensified cultivation practices and increased fertilizer application, all aimed at bolstering yields and productivity in the agricultural sector.
Global Nitrogenous Fertilizer Market Trends
The rising pressure on the agricultural sector to increase food production is expected to drive area under field crop cultivation
- The global agricultural sector is currently facing many challenges. According to the UN, the world population will likely exceed nine billion by 2050. This population growth may overburden the agricultural sector, which is already experiencing an output loss due to a lack of laborers and the shrinkage of agricultural fields caused by rising urbanization. According to the Food and Agriculture Organization, 70% of the global population is expected to live in cities by 2050. Due to the global loss of arable land, farmers need more fertilizers to increase crop yields.
- Asia-Pacific is the world's largest producer of agricultural products. Agriculture is critical to the region's economy, as it employs about 20% of the total available workforce. Field crop cultivation dominates the region, accounting for more than 95% of the total crop area in the region. Rice, wheat, and corn are the major field crops produced in the region, together accounting for about 42.5% of the total crop area in 2022.
- North America is the second-largest arable region in terms of total agricultural land area in the world. Diverse varieties of crops are grown on North American farms, primarily field crops. According to the USDA, corn, cotton, rice, soybean, and wheat are among the region's dominant field crops. The United States dominated the market by accounting for 155.09 million hectares of the total area under crop cultivation in the region during the study period, with field crops covering the majority of the area, accounting for a share of 65.7% in 2022. Crop acreage in the country fell significantly between 2017 and 2019, primarily due to unfavorable environmental conditions that resulted in heavy floods in areas such as Texas and Houston.
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Nitrogen is the most widely used primary nutrient fertilizer in field crops, accounting for 45.57% of the total consumption
- In 2023, the average primary nutrient application rate for field crops stood at 164.3 kg per hectare. Notably, corn, rice, wheat, sorghum, soybean, rapeseed, and cotton represented the primary field crops cultivated, and these crops need higher nutrient levels to support their growth. The nutrient deficiency arising from intensive agricultural practices and the continuous cultivation of major crops, such as wheat, necessitates an increased application of nutrients. This situation calls for higher nutrient input to maintain soil fertility.
- Nitrogen stands out as the predominant nutrient consumed by field crops among all the primary nutrients. The average nutrient application rate of nitrogen reached a substantial 224.6 kg per hectare. The soils experience nitrogen deficiency due to their high pH levels, sandy soil composition, and persistent dry conditions resulting from recurrent droughts and heat waves. These factors collectively drive an increased demand for nitrogen nutrients in agricultural practices.
- Rapeseed emerged as a significant consumer of nitrogen nutrients, with an average nutrient application rate of 347.4 kg per hectare. This substantial nitrogen demand in rapeseed cultivation is primarily linked to the reduced nitrogen use efficiency (NUE) by these crops. China, Canada, India, Australia, and European countries are major producers of rapeseed crops. Changing climatic conditions like recent droughts and heavy flooding conditions lead to N loss from soils, which affects crop growth and yield formation of rapeseed. It is necessary to control the nitrogen application rate to keep it within the limits. Appropriate levels of nitrogen can boost the photosynthetic capacity, metabolic levels, and morphogenesis and increase yield.
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OTHER KEY INDUSTRY TRENDS COVERED IN THE REPORT
- The growing demand for fruits and vegetables drives the expansion of horticultural crop cultivation
- Technological advancements in irrigation equipment and well water management practices may increase the area under irrigation
- Compared to other vegetable crops, cabbage has a higher application rate of nitrogen, with an average application rate of 520.5kg/ha
Nitrogenous Fertilizer Industry Overview
The Nitrogenous Fertilizer Market is fragmented, with the top five companies occupying 23.06%. The major players in this market are CF Industries Holdings, Inc., EuroChem Group, Nutrien Ltd., SABIC Agri-Nutrients Co. and Yara International ASA (sorted alphabetically).
Nitrogenous Fertilizer Market Leaders
CF Industries Holdings, Inc.
EuroChem Group
Nutrien Ltd.
SABIC Agri-Nutrients Co.
Yara International ASA
Other important companies include Coromandel International Ltd., Grupa Azoty S.A. (Compo Expert), Indian Farmers Fertiliser Cooperative Limited, Koch Industries Inc..
*Disclaimer: Major Players sorted in alphabetical order.
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Nitrogenous Fertilizer Market News
- April 2023: SABIC Agri-Nutrients Company acquired the ETC Group (ETG) with a 49% stake in the ETG Inputs Holdco Limited for a transaction value of USD 320 million. The agreement is part of SABIC Agri-Nutrients Company's strategy to integrate the value chain and distribution of agri-nutrients markets.
- August 2022: Koch invested around USD 30 million in the Kansas nitrogen plant to increase UAN production by 35,000 tons per year to meet growing UAN demand across western Kansas and eastern Colorado.
- March 2022: EuroChem Group has purchased 51.48% of the shares of the Brazilian distributor Fertilizantes Heringer SA, this purchase will further strengthen its production and distribution capacity in Brazil.
Free with this Report
Along with the report, We also offer a comprehensive and exhaustive data pack with 25+ graphs on area under cultivation and average application rate per hectare. The data pack includes Globe, North America, Europe, Asia-Pacific, South America, and Africa.
Nitrogenous Fertilizer Market Report - Table of Contents
1. EXECUTIVE SUMMARY & KEY FINDINGS
2. REPORT OFFERS
3. INTRODUCTION
- 3.1 Study Assumptions & Market Definition
- 3.2 Scope of the Study
- 3.3 Research Methodology
4. KEY INDUSTRY TRENDS
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4.1 Acreage Of Major Crop Types
- 4.1.1 Field Crops
- 4.1.2 Horticultural Crops
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4.2 Average Nutrient Application Rates
- 4.2.1 Primary Nutrients
- 4.2.1.1 Field Crops
- 4.2.1.2 Horticultural Crops
- 4.3 Agricultural Land Equipped For Irrigation
- 4.4 Regulatory Framework
- 4.5 Value Chain & Distribution Channel Analysis
5. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)
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5.1 Product
- 5.1.1 Ammonium Nitrate
- 5.1.2 Anhydrous Ammonia
- 5.1.3 Urea
- 5.1.4 Others
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5.2 Form
- 5.2.1 Conventional
- 5.2.2 Speciality
- 5.2.2.1 CRF
- 5.2.2.2 Liquid Fertilizer
- 5.2.2.3 SRF
- 5.2.2.4 Water Soluble
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5.3 Application Mode
- 5.3.1 Fertigation
- 5.3.2 Foliar
- 5.3.3 Soil
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5.4 Crop Type
- 5.4.1 Field Crops
- 5.4.2 Horticultural Crops
- 5.4.3 Turf & Ornamental
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5.5 Region
- 5.5.1 Asia-Pacific
- 5.5.1.1 Australia
- 5.5.1.2 Bangladesh
- 5.5.1.3 China
- 5.5.1.4 India
- 5.5.1.5 Indonesia
- 5.5.1.6 Japan
- 5.5.1.7 Pakistan
- 5.5.1.8 Philippines
- 5.5.1.9 Thailand
- 5.5.1.10 Vietnam
- 5.5.1.11 Rest of Asia-Pacific
- 5.5.2 Europe
- 5.5.2.1 France
- 5.5.2.2 Germany
- 5.5.2.3 Italy
- 5.5.2.4 Netherlands
- 5.5.2.5 Russia
- 5.5.2.6 Spain
- 5.5.2.7 Ukraine
- 5.5.2.8 United Kingdom
- 5.5.2.9 Rest of Europe
- 5.5.3 Middle East & Africa
- 5.5.3.1 Nigeria
- 5.5.3.2 Saudi Arabia
- 5.5.3.3 South Africa
- 5.5.3.4 Turkey
- 5.5.3.5 Rest of Middle East & Africa
- 5.5.4 North America
- 5.5.4.1 Canada
- 5.5.4.2 Mexico
- 5.5.4.3 United States
- 5.5.4.4 Rest of North America
- 5.5.5 South America
- 5.5.5.1 Argentina
- 5.5.5.2 Brazil
- 5.5.5.3 Rest of South America
6. COMPETITIVE LANDSCAPE
- 6.1 Key Strategic Moves
- 6.2 Market Share Analysis
- 6.3 Company Landscape
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6.4 Company Profiles
- 6.4.1 CF Industries Holdings, Inc.
- 6.4.2 Coromandel International Ltd.
- 6.4.3 EuroChem Group
- 6.4.4 Grupa Azoty S.A. (Compo Expert)
- 6.4.5 Indian Farmers Fertiliser Cooperative Limited
- 6.4.6 Koch Industries Inc.
- 6.4.7 Nutrien Ltd.
- 6.4.8 SABIC Agri-Nutrients Co.
- 6.4.9 Yara International ASA
- *List Not Exhaustive
7. KEY STRATEGIC QUESTIONS FOR FERTILIZER CEOS
8. APPENDIX
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8.1 Global Overview
- 8.1.1 Overview
- 8.1.2 Porter’s Five Forces Framework
- 8.1.3 Global Value Chain Analysis
- 8.1.4 Market Dynamics (DROs)
- 8.2 Sources & References
- 8.3 List of Tables & Figures
- 8.4 Primary Insights
- 8.5 Data Pack
- 8.6 Glossary of Terms
List of Tables & Figures
- Figure 1:
- CULTIVATION OF FIELD CROPS IN HECTARE, GLOBAL, 2017 - 2022
- Figure 2:
- CULTIVATION OF HORTICULTURAL CROPS IN HECTARE, GLOBAL, 2017 - 2022
- Figure 3:
- CONSUMPTION OF PRIMARY NUTRIENTS BY FIELD CROPS IN KG/HECTARE, GLOBAL, 2022
- Figure 4:
- CONSUMPTION OF PRIMARY NUTRIENTS BY HORTICULTURAL CROPS IN KG/HECTARE, GLOBAL, 2022
- Figure 5:
- AGRICULTURAL LAND EQUIPPED FOR IRRIGATION IN HECTARE, GLOBAL, 2022
- Figure 6:
- NITROGENOUS FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 7:
- NITROGENOUS FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 8:
- FERTILIZER CONSUMPTION BY NITROGENOUS IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 9:
- FERTILIZER CONSUMPTION BY NITROGENOUS IN USD, GLOBAL, 2017 - 2030
- Figure 10:
- FERTILIZER CONSUMPTION VOLUME BY NITROGENOUS IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 11:
- FERTILIZER CONSUMPTION VALUE BY NITROGENOUS IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 12:
- AMMONIUM NITRATE FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 13:
- AMMONIUM NITRATE FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 14:
- AMMONIUM NITRATE FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 15:
- ANHYDROUS AMMONIA FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 16:
- ANHYDROUS AMMONIA FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 17:
- ANHYDROUS AMMONIA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 18:
- UREA FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 19:
- UREA FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 20:
- UREA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 21:
- OTHERS FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 22:
- OTHERS FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 23:
- OTHERS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 24:
- NITROGENOUS FERTILIZER CONSUMPTION BY FORM IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 25:
- NITROGENOUS FERTILIZER CONSUMPTION BY FORM IN USD, GLOBAL, 2017 - 2030
- Figure 26:
- NITROGENOUS FERTILIZER CONSUMPTION VOLUME BY FORM IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 27:
- NITROGENOUS FERTILIZER CONSUMPTION VALUE BY FORM IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 28:
- CONVENTIONAL FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 29:
- CONVENTIONAL FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 30:
- CONVENTIONAL FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2022 VS 2030
- Figure 31:
- FERTILIZER CONSUMPTION BY SPECIALITY TYPE IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 32:
- FERTILIZER CONSUMPTION BY SPECIALITY TYPE IN USD, GLOBAL, 2017 - 2030
- Figure 33:
- FERTILIZER CONSUMPTION VOLUME BY SPECIALITY TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 34:
- FERTILIZER CONSUMPTION VALUE BY SPECIALITY TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 35:
- CRF FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 36:
- CRF FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 37:
- CRF FERTILIZER CONSUMPTION BY CROP TYPE IN USD, GLOBAL, 2017 - 2030
- Figure 38:
- LIQUID FERTILIZER FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 39:
- LIQUID FERTILIZER FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 40:
- LIQUID FERTILIZER FERTILIZER CONSUMPTION BY CROP TYPE IN USD, GLOBAL, 2017 - 2030
- Figure 41:
- SRF FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 42:
- SRF FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 43:
- SRF FERTILIZER CONSUMPTION BY CROP TYPE IN USD, GLOBAL, 2017 - 2030
- Figure 44:
- WATER SOLUBLE FERTILIZER CONSUMPTION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 45:
- WATER SOLUBLE FERTILIZER CONSUMPTION IN USD, GLOBAL, 2017 - 2030
- Figure 46:
- WATER SOLUBLE FERTILIZER CONSUMPTION BY CROP TYPE IN USD, GLOBAL, 2017 - 2030
- Figure 47:
- FERTILIZER CONSUMPTION BY SPECIALITY TYPE IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 48:
- FERTILIZER CONSUMPTION BY SPECIALITY TYPE IN USD, GLOBAL, 2017 - 2030
- Figure 49:
- FERTILIZER CONSUMPTION VOLUME BY SPECIALITY TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 50:
- FERTILIZER CONSUMPTION VALUE BY SPECIALITY TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 51:
- NITROGENOUS FERTILIZER CONSUMPTION BY APPLICATION MODE IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 52:
- NITROGENOUS FERTILIZER CONSUMPTION BY APPLICATION MODE IN USD, GLOBAL, 2017 - 2030
- Figure 53:
- NITROGENOUS FERTILIZER CONSUMPTION VOLUME BY APPLICATION MODE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 54:
- NITROGENOUS FERTILIZER CONSUMPTION VALUE BY APPLICATION MODE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 55:
- FERTIGATION APPLICATION OF NITROGENOUS FERTILIZER IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 56:
- FERTIGATION APPLICATION OF NITROGENOUS FERTILIZER IN USD, GLOBAL, 2017 - 2030
- Figure 57:
- FERTIGATION APPLICATION OF NITROGENOUS FERTILIZER IN VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 58:
- FOLIAR APPLICATION OF NITROGENOUS FERTILIZER IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 59:
- FOLIAR APPLICATION OF NITROGENOUS FERTILIZER IN USD, GLOBAL, 2017 - 2030
- Figure 60:
- FOLIAR APPLICATION OF NITROGENOUS FERTILIZER IN VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 61:
- SOIL APPLICATION OF NITROGENOUS FERTILIZER IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 62:
- SOIL APPLICATION OF NITROGENOUS FERTILIZER IN USD, GLOBAL, 2017 - 2030
- Figure 63:
- SOIL APPLICATION OF NITROGENOUS FERTILIZER IN VALUE BY CROP TYPE IN %, GLOBAL, 2023 VS 2030
- Figure 64:
- NITROGENOUS FERTILIZER CONSUMPTION BY CROP TYPE IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 65:
- NITROGENOUS FERTILIZER CONSUMPTION BY CROP TYPE IN USD, GLOBAL, 2017 - 2030
- Figure 66:
- NITROGENOUS FERTILIZER CONSUMPTION VOLUME BY CROP TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 67:
- NITROGENOUS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 68:
- FIELD CROPS FERTILIZER CONSUMPTION BY FIELD CROPS IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 69:
- FIELD CROPS FERTILIZER CONSUMPTION BY FIELD CROPS IN USD, GLOBAL, 2017 - 2030
- Figure 70:
- FIELD CROPS FERTILIZER CONSUMPTION VALUE BY PRODUCT IN %, GLOBAL, 2023 VS 2030
- Figure 71:
- HORTICULTURAL CROPS FERTILIZER CONSUMPTION BY HORTICULTURAL CROPS IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 72:
- HORTICULTURAL CROPS FERTILIZER CONSUMPTION BY HORTICULTURAL CROPS IN USD, GLOBAL, 2017 - 2030
- Figure 73:
- HORTICULTURAL CROPS FERTILIZER CONSUMPTION VALUE BY PRODUCT IN %, GLOBAL, 2023 VS 2030
- Figure 74:
- TURF & ORNAMENTAL FERTILIZER CONSUMPTION BY TURF & ORNAMENTAL IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 75:
- TURF & ORNAMENTAL FERTILIZER CONSUMPTION BY TURF & ORNAMENTAL IN USD, GLOBAL, 2017 - 2030
- Figure 76:
- TURF & ORNAMENTAL FERTILIZER CONSUMPTION VALUE BY PRODUCT IN %, GLOBAL, 2023 VS 2030
- Figure 77:
- NITROGENOUS FERTILIZER CONSUMPTION BY REGION IN METRIC TON, GLOBAL, 2017 - 2030
- Figure 78:
- NITROGENOUS FERTILIZER CONSUMPTION BY REGION IN USD, GLOBAL, 2017 - 2030
- Figure 79:
- NITROGENOUS FERTILIZER CONSUMPTION VOLUME BY REGION IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 80:
- NITROGENOUS FERTILIZER CONSUMPTION VALUE BY REGION IN %, GLOBAL, 2017 VS 2023 VS 2030
- Figure 81:
- NITROGENOUS FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, ASIA-PACIFIC, 2017 - 2030
- Figure 82:
- NITROGENOUS FERTILIZER CONSUMPTION BY COUNTRY IN USD, ASIA-PACIFIC, 2017 - 2030
- Figure 83:
- NITROGENOUS FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, ASIA-PACIFIC, 2017 VS 2023 VS 2030
- Figure 84:
- NITROGENOUS FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, ASIA-PACIFIC, 2017 VS 2023 VS 2030
- Figure 85:
- AUSTRALIA FERTILIZER CONSUMPTION IN METRIC TON, AUSTRALIA, 2017 - 2030
- Figure 86:
- AUSTRALIA FERTILIZER CONSUMPTION IN USD, AUSTRALIA, 2017 - 2030
- Figure 87:
- AUSTRALIA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, AUSTRALIA, 2023 VS 2030
- Figure 88:
- BANGLADESH FERTILIZER CONSUMPTION IN METRIC TON, BANGLADESH, 2017 - 2030
- Figure 89:
- BANGLADESH FERTILIZER CONSUMPTION IN USD, BANGLADESH, 2017 - 2030
- Figure 90:
- BANGLADESH FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, BANGLADESH, 2023 VS 2030
- Figure 91:
- CHINA FERTILIZER CONSUMPTION IN METRIC TON, CHINA, 2017 - 2030
- Figure 92:
- CHINA FERTILIZER CONSUMPTION IN USD, CHINA, 2017 - 2030
- Figure 93:
- CHINA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, CHINA, 2023 VS 2030
- Figure 94:
- INDIA FERTILIZER CONSUMPTION IN METRIC TON, INDIA, 2017 - 2030
- Figure 95:
- INDIA FERTILIZER CONSUMPTION IN USD, INDIA, 2017 - 2030
- Figure 96:
- INDIA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, INDIA, 2023 VS 2030
- Figure 97:
- INDONESIA FERTILIZER CONSUMPTION IN METRIC TON, INDONESIA, 2017 - 2030
- Figure 98:
- INDONESIA FERTILIZER CONSUMPTION IN USD, INDONESIA, 2017 - 2030
- Figure 99:
- INDONESIA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, INDONESIA, 2023 VS 2030
- Figure 100:
- JAPAN FERTILIZER CONSUMPTION IN METRIC TON, JAPAN, 2017 - 2030
- Figure 101:
- JAPAN FERTILIZER CONSUMPTION IN USD, JAPAN, 2017 - 2030
- Figure 102:
- JAPAN FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, JAPAN, 2023 VS 2030
- Figure 103:
- PAKISTAN FERTILIZER CONSUMPTION IN METRIC TON, PAKISTAN, 2017 - 2030
- Figure 104:
- PAKISTAN FERTILIZER CONSUMPTION IN USD, PAKISTAN, 2017 - 2030
- Figure 105:
- PAKISTAN FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, PAKISTAN, 2023 VS 2030
- Figure 106:
- PHILIPPINES FERTILIZER CONSUMPTION IN METRIC TON, PHILIPPINES, 2017 - 2030
- Figure 107:
- PHILIPPINES FERTILIZER CONSUMPTION IN USD, PHILIPPINES, 2017 - 2030
- Figure 108:
- PHILIPPINES FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, PHILIPPINES, 2023 VS 2030
- Figure 109:
- THAILAND FERTILIZER CONSUMPTION IN METRIC TON, THAILAND, 2017 - 2030
- Figure 110:
- THAILAND FERTILIZER CONSUMPTION IN USD, THAILAND, 2017 - 2030
- Figure 111:
- THAILAND FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, THAILAND, 2023 VS 2030
- Figure 112:
- VIETNAM FERTILIZER CONSUMPTION IN METRIC TON, VIETNAM, 2017 - 2030
- Figure 113:
- VIETNAM FERTILIZER CONSUMPTION IN USD, VIETNAM, 2017 - 2030
- Figure 114:
- VIETNAM FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, VIETNAM, 2023 VS 2030
- Figure 115:
- REST OF ASIA-PACIFIC FERTILIZER CONSUMPTION IN METRIC TON, REST OF ASIA-PACIFIC, 2017 - 2030
- Figure 116:
- REST OF ASIA-PACIFIC FERTILIZER CONSUMPTION IN USD, REST OF ASIA-PACIFIC, 2017 - 2030
- Figure 117:
- REST OF ASIA-PACIFIC FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, REST OF ASIA-PACIFIC, 2023 VS 2030
- Figure 118:
- NITROGENOUS FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, EUROPE, 2017 - 2030
- Figure 119:
- NITROGENOUS FERTILIZER CONSUMPTION BY COUNTRY IN USD, EUROPE, 2017 - 2030
- Figure 120:
- NITROGENOUS FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, EUROPE, 2017 VS 2023 VS 2030
- Figure 121:
- NITROGENOUS FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, EUROPE, 2017 VS 2023 VS 2030
- Figure 122:
- FRANCE FERTILIZER CONSUMPTION IN METRIC TON, FRANCE, 2017 - 2030
- Figure 123:
- FRANCE FERTILIZER CONSUMPTION IN USD, FRANCE, 2017 - 2030
- Figure 124:
- FRANCE FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, FRANCE, 2023 VS 2030
- Figure 125:
- GERMANY FERTILIZER CONSUMPTION IN METRIC TON, GERMANY, 2017 - 2030
- Figure 126:
- GERMANY FERTILIZER CONSUMPTION IN USD, GERMANY, 2017 - 2030
- Figure 127:
- GERMANY FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, GERMANY, 2023 VS 2030
- Figure 128:
- ITALY FERTILIZER CONSUMPTION IN METRIC TON, ITALY, 2017 - 2030
- Figure 129:
- ITALY FERTILIZER CONSUMPTION IN USD, ITALY, 2017 - 2030
- Figure 130:
- ITALY FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, ITALY, 2023 VS 2030
- Figure 131:
- NETHERLANDS FERTILIZER CONSUMPTION IN METRIC TON, NETHERLANDS, 2017 - 2030
- Figure 132:
- NETHERLANDS FERTILIZER CONSUMPTION IN USD, NETHERLANDS, 2017 - 2030
- Figure 133:
- NETHERLANDS FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, NETHERLANDS, 2023 VS 2030
- Figure 134:
- RUSSIA FERTILIZER CONSUMPTION IN METRIC TON, RUSSIA, 2017 - 2030
- Figure 135:
- RUSSIA FERTILIZER CONSUMPTION IN USD, RUSSIA, 2017 - 2030
- Figure 136:
- RUSSIA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, RUSSIA, 2023 VS 2030
- Figure 137:
- SPAIN FERTILIZER CONSUMPTION IN METRIC TON, SPAIN, 2017 - 2030
- Figure 138:
- SPAIN FERTILIZER CONSUMPTION IN USD, SPAIN, 2017 - 2030
- Figure 139:
- SPAIN FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, SPAIN, 2023 VS 2030
- Figure 140:
- UKRAINE FERTILIZER CONSUMPTION IN METRIC TON, UKRAINE, 2017 - 2030
- Figure 141:
- UKRAINE FERTILIZER CONSUMPTION IN USD, UKRAINE, 2017 - 2030
- Figure 142:
- UKRAINE FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, UKRAINE, 2023 VS 2030
- Figure 143:
- UNITED KINGDOM FERTILIZER CONSUMPTION IN METRIC TON, UNITED KINGDOM, 2017 - 2030
- Figure 144:
- UNITED KINGDOM FERTILIZER CONSUMPTION IN USD, UNITED KINGDOM, 2017 - 2030
- Figure 145:
- UNITED KINGDOM FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, UNITED KINGDOM, 2023 VS 2030
- Figure 146:
- REST OF EUROPE FERTILIZER CONSUMPTION IN METRIC TON, REST OF EUROPE, 2017 - 2030
- Figure 147:
- REST OF EUROPE FERTILIZER CONSUMPTION IN USD, REST OF EUROPE, 2017 - 2030
- Figure 148:
- REST OF EUROPE FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, REST OF EUROPE, 2023 VS 2030
- Figure 149:
- NITROGENOUS FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, MIDDLE EAST & AFRICA, 2017 - 2030
- Figure 150:
- NITROGENOUS FERTILIZER CONSUMPTION BY COUNTRY IN USD, MIDDLE EAST & AFRICA, 2017 - 2030
- Figure 151:
- NITROGENOUS FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, MIDDLE EAST & AFRICA, 2017 VS 2023 VS 2030
- Figure 152:
- NITROGENOUS FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, MIDDLE EAST & AFRICA, 2017 VS 2023 VS 2030
- Figure 153:
- NIGERIA FERTILIZER CONSUMPTION IN METRIC TON, NIGERIA, 2017 - 2030
- Figure 154:
- NIGERIA FERTILIZER CONSUMPTION IN USD, NIGERIA, 2017 - 2030
- Figure 155:
- NIGERIA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, NIGERIA, 2023 VS 2030
- Figure 156:
- SAUDI ARABIA FERTILIZER CONSUMPTION IN METRIC TON, SAUDI ARABIA, 2017 - 2030
- Figure 157:
- SAUDI ARABIA FERTILIZER CONSUMPTION IN USD, SAUDI ARABIA, 2017 - 2030
- Figure 158:
- SAUDI ARABIA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, SAUDI ARABIA, 2023 VS 2030
- Figure 159:
- SOUTH AFRICA FERTILIZER CONSUMPTION IN METRIC TON, SOUTH AFRICA, 2017 - 2030
- Figure 160:
- SOUTH AFRICA FERTILIZER CONSUMPTION IN USD, SOUTH AFRICA, 2017 - 2030
- Figure 161:
- SOUTH AFRICA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, SOUTH AFRICA, 2023 VS 2030
- Figure 162:
- TURKEY FERTILIZER CONSUMPTION IN METRIC TON, TURKEY, 2017 - 2030
- Figure 163:
- TURKEY FERTILIZER CONSUMPTION IN USD, TURKEY, 2017 - 2030
- Figure 164:
- TURKEY FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, TURKEY, 2023 VS 2030
- Figure 165:
- REST OF MIDDLE EAST & AFRICA FERTILIZER CONSUMPTION IN METRIC TON, REST OF MIDDLE EAST & AFRICA, 2017 - 2030
- Figure 166:
- REST OF MIDDLE EAST & AFRICA FERTILIZER CONSUMPTION IN USD, REST OF MIDDLE EAST & AFRICA, 2017 - 2030
- Figure 167:
- REST OF MIDDLE EAST & AFRICA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, REST OF MIDDLE EAST & AFRICA, 2023 VS 2030
- Figure 168:
- NITROGENOUS FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, NORTH AMERICA, 2017 - 2030
- Figure 169:
- NITROGENOUS FERTILIZER CONSUMPTION BY COUNTRY IN USD, NORTH AMERICA, 2017 - 2030
- Figure 170:
- NITROGENOUS FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 171:
- NITROGENOUS FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, NORTH AMERICA, 2017 VS 2023 VS 2030
- Figure 172:
- CANADA FERTILIZER CONSUMPTION IN METRIC TON, CANADA, 2017 - 2030
- Figure 173:
- CANADA FERTILIZER CONSUMPTION IN USD, CANADA, 2017 - 2030
- Figure 174:
- CANADA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, CANADA, 2023 VS 2030
- Figure 175:
- MEXICO FERTILIZER CONSUMPTION IN METRIC TON, MEXICO, 2017 - 2030
- Figure 176:
- MEXICO FERTILIZER CONSUMPTION IN USD, MEXICO, 2017 - 2030
- Figure 177:
- MEXICO FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, MEXICO, 2023 VS 2030
- Figure 178:
- UNITED STATES FERTILIZER CONSUMPTION IN METRIC TON, UNITED STATES, 2017 - 2030
- Figure 179:
- UNITED STATES FERTILIZER CONSUMPTION IN USD, UNITED STATES, 2017 - 2030
- Figure 180:
- UNITED STATES FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, UNITED STATES, 2023 VS 2030
- Figure 181:
- REST OF NORTH AMERICA FERTILIZER CONSUMPTION IN METRIC TON, REST OF NORTH AMERICA, 2017 - 2030
- Figure 182:
- REST OF NORTH AMERICA FERTILIZER CONSUMPTION IN USD, REST OF NORTH AMERICA, 2017 - 2030
- Figure 183:
- REST OF NORTH AMERICA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, REST OF NORTH AMERICA, 2023 VS 2030
- Figure 184:
- NITROGENOUS FERTILIZER CONSUMPTION BY COUNTRY IN METRIC TON, SOUTH AMERICA, 2017 - 2030
- Figure 185:
- NITROGENOUS FERTILIZER CONSUMPTION BY COUNTRY IN USD, SOUTH AMERICA, 2017 - 2030
- Figure 186:
- NITROGENOUS FERTILIZER CONSUMPTION VOLUME BY COUNTRY IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 187:
- NITROGENOUS FERTILIZER CONSUMPTION VALUE BY COUNTRY IN %, SOUTH AMERICA, 2017 VS 2023 VS 2030
- Figure 188:
- ARGENTINA FERTILIZER CONSUMPTION IN METRIC TON, ARGENTINA, 2017 - 2030
- Figure 189:
- ARGENTINA FERTILIZER CONSUMPTION IN USD, ARGENTINA, 2017 - 2030
- Figure 190:
- ARGENTINA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, ARGENTINA, 2023 VS 2030
- Figure 191:
- BRAZIL FERTILIZER CONSUMPTION IN METRIC TON, BRAZIL, 2017 - 2030
- Figure 192:
- BRAZIL FERTILIZER CONSUMPTION IN USD, BRAZIL, 2017 - 2030
- Figure 193:
- BRAZIL FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, BRAZIL, 2023 VS 2030
- Figure 194:
- REST OF SOUTH AMERICA FERTILIZER CONSUMPTION IN METRIC TON, REST OF SOUTH AMERICA, 2017 - 2030
- Figure 195:
- REST OF SOUTH AMERICA FERTILIZER CONSUMPTION IN USD, REST OF SOUTH AMERICA, 2017 - 2030
- Figure 196:
- REST OF SOUTH AMERICA FERTILIZER CONSUMPTION VALUE BY CROP TYPE IN %, REST OF SOUTH AMERICA, 2023 VS 2030
- Figure 197:
- MOST ACTIVE COMPANIES BY NUMBER OF STRATEGIC MOVES, GLOBAL, 2017 - 2030
- Figure 198:
- GLOBAL NITROGENOUS FERTILIZER MARKET, MOST ADOPTED STRATEGIES, 2018 - 2021
- Figure 199:
- MARKET SHARE OF MAJOR PLAYERS IN %, GLOBAL, 2022
Nitrogenous Fertilizer Industry Segmentation
Ammonium Nitrate, Anhydrous Ammonia, Urea, Others are covered as segments by Product. Conventional, Speciality are covered as segments by Form. Fertigation, Foliar, Soil are covered as segments by Application Mode. Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type. Asia-Pacific, Europe, Middle East & Africa, North America, South America are covered as segments by Region.
- Urea is the most important and most used nitrogenous fertilizer globally. In 2022, it accounted for a 48.6% share of the total consumption of nitrogenous fertilizers globally. The global urea market was valued at USD 75.0 billion in 2022, with a volume consumption of 140.2 million metric ton in the same year.
- Anhydrous ammonia has the highest nitrogen content (82%) among all nitrogenous fertilizers, where nitrogen is readily available in the form of NH3. The global market for anhydrous ammonia was valued at USD 24.5 million in 2022, with a volume consumption of 4.3 billion metric tons in the same year. However, the usage of anhydrous ammonia as a fertilizer is restricted to the countries in North America and is commonly used in the region's corn belts since it is a highly nitrogen-consuming crop.
- The ammonium nitrate market accounted for 6.3% and 8.5%, by value and volume, respectively, of the total nitrogenous fertilizers in 2022 and it is anticipated to grow over the forecasted period 2023-2030 at 4.9% CAGR in terms of value. Ammonium Nitrate is more inexpensive than many other nitrogen fertilizers and suitable for all seasons, making it a preferred choice for growers.
- Moreover, Asia-Pacific was the largest market for nitrogenous fertilizers in 2022. It accounted for a market value share of 34.6%. In the Asia-Pacific region, China and India are the two largest consumers owing to their increasing population and large areas under cultivation.
- The global nitrogenous fertilizer market value is anticipated to grow during the forecast period at 5.6% CAGR as it is the most demanded nutrient.
| Product | Ammonium Nitrate | |
| Anhydrous Ammonia | ||
| Urea | ||
| Others | ||
| Form | Conventional | |
| Speciality | CRF | |
| Liquid Fertilizer | ||
| SRF | ||
| Water Soluble | ||
| Application Mode | Fertigation | |
| Foliar | ||
| Soil | ||
| Crop Type | Field Crops | |
| Horticultural Crops | ||
| Turf & Ornamental | ||
| Region | Asia-Pacific | Australia |
| Bangladesh | ||
| China | ||
| India | ||
| Indonesia | ||
| Japan | ||
| Pakistan | ||
| Philippines | ||
| Thailand | ||
| Vietnam | ||
| Rest of Asia-Pacific | ||
| Region | Europe | France |
| Germany | ||
| Italy | ||
| Netherlands | ||
| Russia | ||
| Spain | ||
| Ukraine | ||
| United Kingdom | ||
| Rest of Europe | ||
| Region | Middle East & Africa | Nigeria |
| Saudi Arabia | ||
| South Africa | ||
| Turkey | ||
| Rest of Middle East & Africa | ||
| Region | North America | Canada |
| Mexico | ||
| United States | ||
| Rest of North America | ||
| Region | South America | Argentina |
| Brazil | ||
| Rest of South America |
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Market Definition
- MARKET ESTIMATION LEVEL - Market Estimations for various types of fertilizers has been done at the product-level and not at the nutrient-level.
- NUTRIENT TYPES COVERED - All Nitrogenous Fertilizers
- AVERAGE NUTRIENT APPLICATION RATE - This refers to the average volume of nutrient consumed per hectare of farmland in each country.
- CROP TYPES COVERED - Field Crops: Cereals, Pulses, Oilseeds, and Fiber Crops Horticulture: Fruits, Vegetables, Plantation Crops and Spices, Turf Grass and Ornamentals
| Keyword | Definition |
|---|---|
| Fertilizer | Chemical substance applied to crops to ensure nutritional requirements, available in various forms such as granules, powders, liquid, water soluble, etc. |
| Specialty Fertilizer | Used for enhanced efficiency and nutrient availability applied through soil, foliar, and fertigation. Includes CRF, SRF, liquid fertilizer, and water soluble fertilizers. |
| Controlled-Release Fertilizers (CRF) | Coated with materials such as polymer, polymer-sulfur, and other materials such as resins to ensure nutrient availability to the crop for its entire life cycle. |
| Slow-Release Fertilizers (SRF) | Coated with materials such as sulfur, neem, etc., to ensure nutrient availability to the crop for a longer period. |
| Foliar Fertilizers | Consist of both liquid and water soluble fertilizers applied through foliar application. |
| Water-Soluble Fertilizers | Available in various forms including liquid, powder, etc., used in foliar and fertigation mode of fertilizer application. |
| Fertigation | Fertilizers applied through different irrigation systems such as drip irrigation, micro irrigation, sprinkler irrigation, etc. |
| Anhydrous Ammonia | Used as fertilizer, directly injected into the soil, available in gaseous liquid form. |
| Single Super Phosphate (SSP) | Phosphorus fertilizer containing only phosphorus which has lesser than or equal to 35%. |
| Triple Super Phosphate (TSP) | Phosphorus fertilizer containing only phosphorus greater than 35%. |
| Enhanced Efficiency Fertilizers | Fertilizers coated or treated with additional layers of various ingredients to make it more efficient compared to other fertilizers. |
| Conventional Fertilizer | Fertilizers applied to crops through traditional methods including broadcasting, row placement, ploughing soil placement, etc. |
| Chelated Micronutrients | Micronutrient fertilizers coated with chelating agents such as EDTA, EDDHA, DTPA, HEDTA, etc. |
| Liquid Fertilizers | Available in liquid form, majorly used for application of fertilizers to crops through foliar and fertigation. |
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Research Methodology
Mordor Intelligence follows a four-step methodology in all our reports.
- Step-1: IDENTIFY KEY VARIABLES: In order to build a robust forecasting methodology, the variables and factors identified in Step-1 are tested against available historical market numbers. Through an iterative process, the variables required for market forecast are set and the model is built on the basis of these variables.
- Step-2: Build a Market Model: Market-size estimations for the forecast years are in nominal terms. Inflation is not a part of the pricing, and the average selling price (ASP) is kept constant throughout the forecast period for each country.
- Step-3: Validate and Finalize: In this important step, all market numbers, variables and analyst calls are validated through an extensive network of primary research experts from the market studied. The respondents are selected across levels and functions to generate a holistic picture of the market studied.
- Step-4: Research Outputs: Syndicated Reports, Custom Consulting Assignments, Databases & Subscription Platforms
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