Growing Need For High Yield Crop Production Due To Increasing Population Is Fostering Growth Of The Fertilizer Mixtures Market

 

Fertilizer Mixtures Market

Fertilizer mixtures are the combinations of elements that are extremely vital for plant growth, and which form a vital part of all plants. All living organisms need these elements in order to grow and yield to produce food and survive. These elements are found in varying concentrations in different types of foods or in soil, and these vary according to the plants they are intended to be used on. The elements in fertilizer mixtures vary according to the type of the crops they are supposed to be used on: for example, nitrogen-containing fertilizers are generally used on legumes and some fruits, while others are used for certain crops like alfalfa

The increasing population coupled with the changing food habits is driving the growth of the fertilizer mixtures market. Growing demand for high-quality crops and high yield filed is again fueling the growth of the market. According to the United Nation, the world's population is expected to increase by 2 billion persons in the next 30 years, from 7.7 billion currently to 9.7 billion in 2050. Thus the increasing demand for food due to the growing population is propelling the growth of the fertilizer mixtures market. Growing agricultural productivity in recent years coupled with the rising adoption of advanced farming practices have further boosted the growth of the fertilizer mixtures market.

 On the other hand, the high cost of the product is projected to hinder the growth of the fertilizer mixtures market over the forecast period.

The Asia Pacific is projected to gain significant growth over the forecast period and this is attributed to the increasing focus on reducing the gap between supply and demand for food in the region. According to The Asia-Pacific Association of Agricultural Research Institutions (APAARI), the Asia-Pacific region underpins the global agrarian economy. It is a major supplier of most of the important food and agricultural commodities, accounting for the production and consumption of over 90 percent of the world’s rice, 70 percent of vegetables, 60 percent of seed cotton, and 45 to 50 percent of cereals, oilseeds, and pulses

Key Developments:

1.      In November 2019, The Totagars’ Cooperative Sale Society (TSS) Ltd at Sirsi in Uttara Kannada district has launched a new organic fertilizer product: TSS Annapurna. TSS Annapurna’ helps in the growth of Trichoderma

2.      In January 2020, the German SalFar partner Ökowerk has announced the development of an eco-friendly fertilizer especially suitable for saline soils.70 % of the fertilizer mixture consists of washed-up algae (seaweed), which is mainly dried bladderwrack.

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