Ceresana publishes up-to-date market study regarding the global fertilizer market
Crop yields can be increased considerably by utilizing fertilizers. Agricultural output has to rise in order to feed the increasing world population and as a consequence, consumption of mineral fertilizers rises. That this market is worth a detailed analysis becomes obvious simply by the fact that market value of fertilizers is likely to rise to more than US$185 billion in 2019. For the first time worldwide, this study analyzes developments on the global market for fertilizers split by various types of fertilizers and different application areas.
Driving factors and obstacles on the market for fertilizers
An increase of population comes at the expanse of an advancing sealing of agricultural soils. Desertification additionally diminishes arable acreage available. At the same time, prosperity and the consumption of meat rises in emerging countries in particular, causing demand for vegetable produce to increase. This problem can only be solved by increasing the amount of fertilizers applied. However, an excess utilization poses the threat of diminishing yields due to over-fertilization in the near future. In some regions, over-fertilization already is causing problems.
Decelerated growth in China
Largest sales market for fertilizers is China that single-handedly consumed about a third of total global consumption in 2011. However, China will develop at less dynamic rates in the future than it did in the past. This country is facing major challenges in protecting nature and environment and, subsequently, ensuring continued productivity. "We forecast slightly accelerated growth rates for the second largest market, namely India, which is mainly due to the high increase of population at average rates of 1.3% per year", explains Oliver Kutsch, CEO of Ceresana.
Rising demand for bioenergy
Until 2019, demand for fertilizers in the segment sugar crops is likely to increase at the highest rates. As Brazil processes sugar cane into both edible sugar as well as biofuel, market researchers expect consumption in this application area to increase by an annual 3.7%. Asia-Pacific is also likely to increase output of sugar. The production of palm oil will gain importance in Indonesia and Malaysia.
The influence of regulations and protection of the environment
In the European Union and North America, countries are obliged to generate part of their energy consumption from renewable sources such as corn and rapeseed in order to reduce greenhouse gas emissions. Sustainability concerns are important in Europe in particular and have corresponding effects on production and utilization of fertilizers.
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