Global Nitrogenous Fertilizer market report 2024, Forecast To 2033

The nitrogenous fertilizer market has demonstrated robust growth, increasing from $73.41 billion in 2023 to $79.16 billion in 2024, with a compound annual growth rate (CAGR) of 7.8%. The growth in the historic period is attributed to factors such as population growth, expansion in the agricultural sector, the mechanization of farming practices, government subsidies, and overall economic growth. Expecting sustained robust growth in the next few years, the market is anticipated to reach $109.37 billion in 2028, reflecting a CAGR of 8.4%. The projected growth is driven by factors such as the rise in global food security concerns, increasing adoption of precision agriculture practices, the promotion of crop rotation, and infrastructure development. Key trends in the forecast period include the development of customized fertilizer blends, initiatives in carbon sequestration, advancements in nutrient management techniques, and the increasing popularity of organic and natural fertilizers.