Fertilizers help plants to grow by supplying them with essential nutrients. Multi-nutrient fertilizers contain two or more nutrients. These fertilizers contains nitrogen, phosphorus, and potassium. Some multi-nutrient fertilizers contains magnesium, sulfur, and other elements such as boron in small amounts. Multi-nutrient fertilizers are selected based on crop type and soil type. In multi-nutrient fertilizers, nutrients are available in digestible form and enhances the growth of the microorganism that are helpful in increasing fertility of the soil. Hence they are preferred over single nutrient fertilizers.
Rise in demand for multi-nutrient fertilizers as compared to conventional fertilizers such as single-nutrient fertilizers due to their ease in application and cost-effectiveness is anticipated to drive the global multi-nutrient fertilizers market.
Global Multi-nutrient Fertilizers Market: Segmentation
The global multi-nutrient fertilizers market can be segmented based on form, source, crop type, product type, and region. In terms of form, the market can be divided into powder, granule, and liquid. Individual nutrient salts such as ammonium phosphate, potassium chloride, and ammonium nitrate are mixed in a large vessel (granulator) to produce granule form of multi-nutrient fertilizers.
Based on source, the market can be bifurcated into organic and conventional. Implementation of stringent environmental regulations against soil and water pollution is anticipated to drive the organic segment, as these have less environmental impact.
In terms of crop type, the global multi nutrient fertilizers market can be categorized into oil seeds, cereals & grains, fruits & vegetables, pulses, and others, which includes sugar crops. Growth in population is propelling the demand for food across the globe. Innovations in agrochemicals and rise in acceptance of fertilizers in developing countries such as China and India are augmenting the demand for food crop fertilizers, especially for fruits & vegetables and cereals & grains. This, in turn, is projected to drive the global multi-nutrient fertilizers market, as these fertilizers are improve efficiency. Based on product type, the market can be divided into nitrogen-potassium, nitrogen-phosphorous, nitrogen-potassium-phosphorous, and potassium-humate.
Global Multi-nutrient Fertilizers Market: Regional Outlook
In terms of region, the global multi-nutrient fertilizers market can be classified into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. Asia Pacific accounts for a large share of the global market. Countries such as China and India have vast agricultural and farming land, as farming is a major occupations in these countries. Increase in awareness about the nutrition of crops and soil fuels the consumption of agrochemicals in the region. Surge in population in countries such as China, India, and Indonesia and government support in the form of subsidiaries are propelling the demand of fertilizers in these countries to enhance crop yield and soil fertility. This, in turn, is projected to fuel the market due to superior performance properties over single nutrient fertilizers.
North America and Europe regions are anticipated to exhibit steady growth during the forecast period. Stringent environmental regulations in these regions have resulted into restrictive use of fertilizers to avoid soil pollution. Use of multi-nutrient fertilizers leads to substantial reduction in the required amount of fertilizers. This is attributed to growth of multi-nutrient fertilizers market in North America and Europe regions.
Global Multi-nutrient Fertilizers Market: Competitive Landscape
Key players operating in the global multi-nutrient fertilizers market invest in programs to raise awareness about multi-nutrient fertilizers and its benefits over conventional fertilizers. Key players operating in the global market include Aries Agro Limited., Agrium, Inc., CF Industries, Uralkali, The Mosaic Company, Mahadhan, Syngenta AG., Agro Liquid, SQM, Haifa Group, Israel Chemicals Ltd., Potash Corporation of Saskatchewan, Inc., and Israel AGRI.
This study by TMR is all-encompassing framework of the dynamics of the market. It mainly comprises critical assessment of consumers' or customers' journeys, current and emerging avenues, and strategic framework to enable CXOs take effective decisions.
Our key underpinning is the 4-Quadrant Framework EIRS that offers detailed visualization of four elements:
- Customer Experience Maps
- Insights and Tools based on data-driven research
- Actionable Results to meet all the business priorities
- Strategic Frameworks to boost the growth journey
The study strives to evaluate the current and future growth prospects, untapped avenues, factors shaping their revenue potential, and demand and consumption patterns in the global market by breaking it into region-wise assessment.
The following regional segments are covered comprehensively:
- North America
- Asia Pacific
- Latin America
- The Middle East and Africa
The EIRS quadrant framework in the report sums up our wide spectrum of data-driven research and advisory for CXOs to help them make better decisions for their businesses and stay as leaders.
Below is a snapshot of these quadrants.
1. Customer Experience Map
The study offers an in-depth assessment of various customers’ journeys pertinent to the market and its segments. It offers various customer impressions about the products and service use. The analysis takes a closer look at their pain points and fears across various customer touchpoints. The consultation and business intelligence solutions will help interested stakeholders, including CXOs, define customer experience maps tailored to their needs. This will help them aim at boosting customer engagement with their brands.
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The various insights in the study are based on elaborate cycles of primary and secondary research the analysts engage with during the course of research. The analysts and expert advisors at TMR adopt industry-wide, quantitative customer insights tools and market projection methodologies to arrive at results, which makes them reliable. The study not just offers estimations and projections, but also an uncluttered evaluation of these figures on the market dynamics. These insights merge data-driven research framework with qualitative consultations for business owners, CXOs, policy makers, and investors. The insights will also help their customers overcome their fears.
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The findings presented in this study by TMR are an indispensable guide for meeting all business priorities, including mission-critical ones. The results when implemented have shown tangible benefits to business stakeholders and industry entities to boost their performance. The results are tailored to fit the individual strategic framework. The study also illustrates some of the recent case studies on solving various problems by companies they faced in their consolidation journey.
4. Strategic Frameworks
The study equips businesses and anyone interested in the market to frame broad strategic frameworks. This has become more important than ever, given the current uncertainty due to COVID-19. The study deliberates on consultations to overcome various such past disruptions and foresees new ones to boost the preparedness. The frameworks help businesses plan their strategic alignments for recovery from such disruptive trends. Further, analysts at TMR helps you break down the complex scenario and bring resiliency in uncertain times.
The report sheds light on various aspects and answers pertinent questions on the market. Some of the important ones are:
1. What can be the best investment choices for venturing into new product and service lines?
2. What value propositions should businesses aim at while making new research and development funding?
3. Which regulations will be most helpful for stakeholders to boost their supply chain network?
4. Which regions might see the demand maturing in certain segments in near future?
5. What are the some of the best cost optimization strategies with vendors that some well-entrenched players have gained success with?
6. Which are the key perspectives that the C-suite are leveraging to move businesses to new growth trajectory?
7. Which government regulations might challenge the status of key regional markets?
8. How will the emerging political and economic scenario affect opportunities in key growth areas?
9. What are some of the value-grab opportunities in various segments?
10. What will be the barrier to entry for new players in the market?
Note: Although care has been taken to maintain the highest levels of accuracy in TMR’s reports, recent market/vendor-specific changes may take time to reflect in the analysis.