Fertilizer Market Size, Share & Forecasts 2020-2027
The Fertilizer Market was estimated around USD 840 billion in 2019 and is expected to grow at a CAGR of 5% over the forecast period (2020-2027). The factors driving the growth of Fertilizer Market includes growing popularity of organic fertilizers, rise in the consumption of food, increased adoption of precision farming around the world and expansion of the agriculture sector. According to the report published by Statista, the Global Precision Farming Market was calculated around USD 6.73 billion in 2021 and is expected to reach USD 14.44 billion by the end of 2027, which will accelerate the Global Fertilizer Market in the approaching years. Moreover, growing demand for high-efficiency fertilizers, rising awareness amongst farmers about the benefits of using fertilizers and Government schemes promoting the use of organic fertilizers, are some of the additional factors supplementing the market growth. In addition, the increasing investments by leading players on research and deve...