September 09, 2021
According to the research report titled ‘Europe Fertilizer Market Forecast 2027 By Application, By Form, By Product, Research Report, COVID-19 Impact Statistics, Country Outlook, Price Trends, Historic Data, Growth Prospects, Competitive Industry Share‘, available with Market Study Report, Europe fertilizer market is expected to reach a valuation of USD 32 billion by the end of the analysis timeframe.
As per the findings of the report, rapidly expanding population coupled with emergence of advanced fertilizing products like water-soluble varieties are catalyzing Europe fertilizer market growth.
Request sample copy of this Report: https://www.marketstudyreport.com/request-a-sample/4037672/
As per the 2020 report of Eurostat, the European population increased from 354.5 million during 1960 to approximately 447.7 million in 2020, an addition of over 93.2 million people within the span of six decades. This implies that food demand has surged and augmented the demand for fertilizers among farmers.
On the contrary, increasing number of migrants in the region, limited arability of cultivable land, inadequate farming activities, changing climatic conditions, and continual rise in per capita consumption are likely to hamper the industry growth over the projected timeframe.
In terms of form, the dry segment captured over 80% of Europe fertilizer industry share in 2020 and is expected to witness similar growth trends through 2027, as these products are gradually released into the soil which benefits crops from a prolonged use of fertilizing agents. Moreover, dry fertilizers are easier to store and cost-effective in comparison to wet counterparts.
With respect to product terrain, inorganic segment captured over 95% market share in 2020 and is anticipated to grow momentously in the ensuing years. This can be credited to widespread adoption of potassium, phosphorous, and nitrogen-based fertilizers for healthy growth of plants. When these are used in combination, they provide immediate nutrient supply to plants for ensuring optimal quality crop yields.
Elaborating on the geographical scope, the report cites that the U.K., Germany, and France presently hold a major portion of the industry share, accreditable to increased reliance on mineral fertilizers, especially for the cultivation of cereals like barley and wheat.
The competitive landscape of Europe fertilizer market sphere is defined by Gübre Fabrikalar? T.A.?, ICL Group Ltd., The Syngenta Group, Gemlik Fertilizer Industry Inc., Yara International ASA, CF Industries Holdings, Inc., The Mosaic Company, and Nutrien Ltd.