The global nano fertilizer market is expected to grow at a CAGR of 9.89%, reaching a market size of US$4,863.725 million in 2029 from US$3,035.143 million in 2024.
Nano fertilizers can be defined as fertilizers that consist of nutrients that are encapsulated or coated inside a nanomaterial with the ability to have a controlled release, along with slow diffusion into the soil.
The global nano fertilizer market is expected to witness significant growth during the forecasted period of 2024-2029 due to various factors, such as the increasing demand for food, which is influenced by the increase in the global population, and the increase in the agricultural sector.
The Asia Pacific region is expected to witness significant growth in the nano fertilizer market during the forecasted period of 2024-2029. India and China are expected to contribute the majority of the growth in this region due to their large population sizes and continuous government support for the improvement of fertilizers in the market. As per the United Nations Population Fund, the Asia Pacific region is home to 50% of the total global population, accounting for an estimated 4.3 billion people. The high relevance of large population size gives rise to an increased demand for food items, leading to an increase in demand for improved fertilizers such as nano fertilizers by the farmers in the market. Nano fertilizers are known to be fertilizers that make use of nanotechnology to improve the properties and characteristics of the crop plant, providing a wide range of benefits such as increased yield, increased resistance to several harmful conditions, increased nutritional value, and many others. This would help solve the low food shortage problems as the population in the region is expected to grow at an unprecedented pace.
Additionally, the increase in government support for nano fertilizers would drive the nano fertilizers market growth during the forecasted period. Due to the various benefits nano fertilizers provide to agriculture and farmers, several government support policies have been implemented for the improvement and growth of nano fertilizer usage in agriculture. For instance, as of September 2020, the Union Minister for Chemicals and Fertilizers of India had stated that India would be self-reliant in the production of fertilizers and new fertilizer manufacturing units will be constructed with an investment of Rs. 40,000 crores in the country to reduce the import dependency of fertilizers, all under the Atma Nirbhar Bharat program. Furthermore, it was stated that nano fertilizers would be 25-30% cheaper, resulting in a higher agricultural production of 18-36% while maintaining soil health.
Additionally, the Press Information Bureau of the Government of India stated that the production of nano urea bottles per annum will be expected to reach an estimated 44 crore bottles, which account for 200 LMT of conventional urea by 2025. This estimated production would be done through 8 urea plants, which would assist in the production of nano fertilizers such as nano urea in the upcoming years.
In conclusion, the increasing growth of the regional population, coupled with the increase in food insecurity, gives rise to the demand for improved fertilizers and production in agriculture, including nano fertilizers. This will further help increase the production of food crops during the forecasted period, which is expected to increase the regional nano fertilizers market growth during the forecasted period.
| Report Metric | Details |
|---|---|
| Study Period | 2021 to 2031 |
| Historical Data | 2021 to 2024 |
| Base Year | 2025 |
| Forecast Period | 2026 – 2031 |
| Report Metric | Details |
| Nano Fertilizer Market Size in 2024 | US$3,035.143 million |
| Nano Fertilizer Market Size in 2029 | US$4,863.725 million |
| Growth Rate | CAGR of 9.89% |
| Study Period | 2019 to 2029 |
| Historical Data | 2019 to 2022 |
| Base Year | 2024 |
| Forecast Period | 2024 – 2029 |
| Forecast Unit (Value) | USD Million |
| Segmentation |
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| Geographical Segmentation | North America, South America, Europe, Middle East and Africa, Asia Pacific |
| List of Major Companies in Nano Fertilizer Market | |
| Customization Scope | Free report customization with purchase |