Global Nano Fertilizer Market Size, Share, Opportunities, And Trends By Type (Nanoscale Fertilizer, Nanoscale Additive Fertilizer, Nanoscale Coating Fertilizer), By Raw Material (Nitrogen, Phosphorus, Potassium, Others), By Application (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), By Soil Method (Foliar Or Spray Method, Soaking Method), And By Geography - Forecasts From 2024 To 2029

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.

Introduction:

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.

Market Drivers:

• Growing demand for food: One of the major factors that lead to an increase in demand for improved agricultural products is the increase in demand for food worldwide. The major factor that increases the demand for food is the increasing population growth rate worldwide. As the population is expected to increase at a significant pace during the forecasted period, the need for food security also increases, and agriculture may not be able to catch up to the ever-growing population demands. This gives the nano fertilizer market an opportunity for growth in the forecasted period. For instance, as per the World Bank, global agricultural production is expected to reduce extreme poverty and boost shared prosperity and is also expected to feed at least 10 billion people by 2050. When coupled with the increase in population of the world, the global need for nano fertilizers for increased yield and enhanced nutritional value will also be expected to increase. For instance, as per ourworldindata.org, the global population has displayed an increase from 7.51 billion people in 2016 to 7.91 billion in 2021, with the total population reaching an expected 8 billion in 2022. This population growth is expected to increase during the forecasted period, driving the growth in demand for food products, and further driving the global nano fertilizers market growth during the forecasted period.
• Growing agricultural sector: The growth of the agricultural sectors will be a driving force for the global nano fertilizer market growth during the forecasted period. The increasing growth of the agricultural sector can be linked to the increasing adoption and usage of various fertilizers and enhanced crop seeds, which include nano fertilizers. As per the OECD Agricultural Outlook 2021-2030, the factors that affect the growth of the projected crop production worldwide are improved yield (87% contribution), increased cropping intensity (7% contribution), and the expansion of cropland (6%). With the significance of improved yield and various other improvements in agriculture, the demand for nano fertilizers is expected to display an increase in growth, further driving the global nano fertilizer market growth during the forecasted period

Key Players:

• Indian Farmers Fertiliser Cooperative Limited (IFFCO): An Indian multi-state cooperative society known for manufacturing and selling fertilizers in the market. It is also one of the world’s largest cooperatives, accounting for over 35,000 members and over 50 million farmers from India.
• Geolife Agritech India Private Limited: An Indian company known for its specialization in organic agricultural inputs, including fertilizers, seeds, and pesticides.

Regional Analysis:

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.

Market Developments:

• April 2023: The Indian Farmers Fertiliser Cooperative Limited (IFFCO) announced the launch of the world’s first Nano Di-ammonium Phosphate (DAP) liquid fertilizer under the Fertilizer Control Order on March 2, 2023. This nano fertilizer is known to be biologically safe and eco-friendly, making it fit for residue-free green farming. This fertilizer also helps provide farmers with the means to boost productivity and also helps increase their income through enhanced yield production and improved quality of crops.

Segmentation:

• By Type:
  • Nanoscale Fertilizer
  • Nanoscale Additive Fertilizer
  • Nanoscale Coating Fertilizer
• By Raw Material:
  • Nitrogen
  • Phosphorus
  • Potassium
  • Others
• By Application:
  • Cereals & Grains
  • Oilseeds & Pulses
  • Fruits & Vegetables
  • Others
• By Soil Method:
  • Foliar or Spray Method
  • Soaking Method
• By Geography:
  • North America
    • United States
    • Canada
    • Mexico
  • South America
    • Brazil
    • Argentina
    • Others
  • Europe
    • United Kingdom
    • Germany
    • France
    • Italy
    • Spain
    • Others
  • Middle East and Africa
    • Saudi Arabia
    • UAE
    • Others
  • Asia Pacific
    • Japan
    • China
    • India
    • South Korea
    • Taiwan
    • Thailand
    • Indonesia
    • Others