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India Fertilizers Market Size

The India Fertilizers Market is anticipated to experience substantial growth over the forecast period, driven primarily by the increasing demand for field crop fertilizers, which dominate the market. The expansion of cultivated areas, particularly for rice and cereals, underscores the rising need for fertilizers to support agricultural productivity. Additionally, the horticultural sector is witnessing a gradual increase in fertilizer consumption, reflecting a growing focus on maximizing yields. Although the turf and ornamental crop segment represents a smaller portion of the market, government initiatives aimed at enhancing self-sufficiency and promoting specific agricultural practices suggest potential for future expansion.

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Market Size of india fertilizers Industry

India Fertilizers Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 43.32 Billion
svg icon Market Size (2030) USD 62.83 Billion
svg icon Largest Share by Crop Type Field Crops
svg icon CAGR (2024 - 2030) 6.39 %
svg icon Fastest Growing by Crop Type Horticultural Crops

Major Players
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*Disclaimer: Major Players sorted in no particular order

Key Players

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India Fertilizers Market Analysis

The India Fertilizers Market size is estimated at 43.32 billion USD in 2024, and is expected to reach 62.83 billion USD by 2030, growing at a CAGR of 6.39% during the forecast period (2024-2030).

43.32 Billion

Market Size in 2024 (USD)

62.83 Billion

Market Size in 2030 (USD)

8.01 %

CAGR (2017-2023)

6.39 %

CAGR (2024-2030)

Largest segment by Product

58.87 %

value share, Urea, 2023

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The Government of India invests around USD 672.7 million and supplies urea at a determined retail price, owing to its increased benefits and subsidies, urea consumption increased.

Largest Segment by Crop Type

89.07 %

value share, Field Crops, 2023

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Growing demand for staple food crops like rice, wheat and reduced nitrogen use efficiency has lead to greater usage of CRF fertilizers to ensure optimum productivity

Fastest Growing Speciality Type

7.33 %

Projected CAGR, CRF, 2024-2030

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The CRFs gaining more popularity with capable of reducing fertilizers use by 20-50% and improve the nutrient supply, crop quality, yeild and reduces application cost

Largest segment by Application Mode

97.38 %

value share, Soil, 2023

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Adoption of sustainable agricultural practices and efficient fertilizers like CRFs, SRFs are applied through soil application mode resulted in higher market share

Leading Market Player

7.71 %

market share, National Fertilizers Ltd, 2022

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The company's "Kisan" brand encompasses a diverse range of fertilizers and an extensive distribution network has played a pivotal role in capturing a significant market share.

Rice is a major NPK-consuming crop that is expected to drive the nation's fertilizer demand

  • In 2022, field crop fertilizers dominated the market, accounting for 89.2%, and are projected to record a CAGR of 9.8% during 2023-2030. Rice, the leading field crop, witnessed a substantial surge in cultivation, with 47 million hectares planted in 2022, marking a 93.1% increase from 2017. Given rice's significant reliance on NPK fertilizers, it is poised to be a key driver of fertilizer demand in the country.
  • The area dedicated to field crops expanded from 187 million hectares in 2017 to 194 million hectares by 2022. Cereals, within the field crop category, commanded a substantial share. This surge in field crop cultivation, driven by the need to feed a growing population, is expected to propel India's fertilizer market in the coming years.
  • In 2022, horticultural crop fertilizers represented 10.5% of the Indian fertilizer market, valued at USD 5.02 billion. The area under horticulture cultivation witnessed a modest rise, reaching 8.9 million hectares in 2022 from 8.6 million hectares in 2017. This uptick in horticulture acreage is accompanied by a parallel rise in fertilizer consumption aimed at maximizing yields.
  • The turf and ornamental crop fertilizer segment in India, though a small fraction, was valued at USD 74.8 million in 2021. The government's emphasis on self-sufficiency has led to initiatives like promoting greenhouse ornamental flower production, hinting at potential growth in this segment.
  • With the rising demand for major field crops and the expansion of fruit and turf cultivation areas, this segment is poised for significant growth. The projected CAGR during 2023-2030 is 6.4% for field crops and 4.0% for fruits and turf.
India Fertilizers Market

India Fertilizers Industry Segmentation

Complex, Straight are covered as segments by Type. Conventional, Speciality are covered as segments by Form. Fertigation, Foliar, Soil are covered as segments by Application Mode. Field Crops, Horticultural Crops, Turf & Ornamental are covered as segments by Crop Type.

  • In 2022, field crop fertilizers dominated the market, accounting for 89.2%, and are projected to record a CAGR of 9.8% during 2023-2030. Rice, the leading field crop, witnessed a substantial surge in cultivation, with 47 million hectares planted in 2022, marking a 93.1% increase from 2017. Given rice's significant reliance on NPK fertilizers, it is poised to be a key driver of fertilizer demand in the country.
  • The area dedicated to field crops expanded from 187 million hectares in 2017 to 194 million hectares by 2022. Cereals, within the field crop category, commanded a substantial share. This surge in field crop cultivation, driven by the need to feed a growing population, is expected to propel India's fertilizer market in the coming years.
  • In 2022, horticultural crop fertilizers represented 10.5% of the Indian fertilizer market, valued at USD 5.02 billion. The area under horticulture cultivation witnessed a modest rise, reaching 8.9 million hectares in 2022 from 8.6 million hectares in 2017. This uptick in horticulture acreage is accompanied by a parallel rise in fertilizer consumption aimed at maximizing yields.
  • The turf and ornamental crop fertilizer segment in India, though a small fraction, was valued at USD 74.8 million in 2021. The government's emphasis on self-sufficiency has led to initiatives like promoting greenhouse ornamental flower production, hinting at potential growth in this segment.
  • With the rising demand for major field crops and the expansion of fruit and turf cultivation areas, this segment is poised for significant growth. The projected CAGR during 2023-2030 is 6.4% for field crops and 4.0% for fruits and turf.
Type
Complex
Straight
Micronutrients
Boron
Copper
Iron
Manganese
Molybdenum
Zinc
Others
Nitrogenous
Urea
Others
Phosphatic
DAP
SSP
Others
Potassic
MoP
Secondary Macronutrients
Calcium
Magnesium
Sulfur
Form
Conventional
Speciality
CRF
Liquid Fertilizer
SRF
Water Soluble
Application Mode
Fertigation
Foliar
Soil
Crop Type
Field Crops
Horticultural Crops
Turf & Ornamental
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India Fertilizers Market Size Summary

The India Fertilizers Market is experiencing significant growth, driven by the increasing demand for field crop fertilizers, which dominate the market. The expansion of field crop cultivation, particularly rice, wheat, and soybean, is a key factor propelling this growth. Rice, being a staple crop, relies heavily on NPK fertilizers, making it a major driver of fertilizer demand. The government's focus on self-sufficiency and initiatives to boost agricultural productivity further support the market's expansion. Despite challenges such as natural calamities affecting crop yields, the robust domestic and international demand for cereals and other crops continues to fuel the need for fertilizers.

The market is characterized by a fragmented landscape with several key players, including Chambal Fertilizers & Chemicals Ltd, Coromandel International Ltd., ICL Group Ltd, Indian Farmers Fertiliser Cooperative Limited, and National Fertilizers Ltd. These companies are actively engaging in strategic partnerships and product innovations to enhance their market presence. The increasing application rates of primary nutrients, particularly nitrogen, highlight the critical role of fertilizers in maintaining soil health and supporting crop production. As the demand for major field crops and the expansion of horticultural and turf cultivation areas continue, the Indian fertilizers market is poised for sustained growth in the coming years.

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India Fertilizers Market Size - Table of Contents

  1. 1. MARKET SEGMENTATION (includes market size in Value in USD and Volume, Forecasts up to 2030 and analysis of growth prospects)

    1. 1.1 Type

      1. 1.1.1 Complex

      2. 1.1.2 Straight

        1. 1.1.2.1 Micronutrients

          1. 1.1.2.1.1 Boron

          2. 1.1.2.1.2 Copper

          3. 1.1.2.1.3 Iron

          4. 1.1.2.1.4 Manganese

          5. 1.1.2.1.5 Molybdenum

          6. 1.1.2.1.6 Zinc

          7. 1.1.2.1.7 Others

        2. 1.1.2.2 Nitrogenous

          1. 1.1.2.2.1 Urea

          2. 1.1.2.2.2 Others

        3. 1.1.2.3 Phosphatic

          1. 1.1.2.3.1 DAP

          2. 1.1.2.3.2 SSP

          3. 1.1.2.3.3 Others

        4. 1.1.2.4 Potassic

          1. 1.1.2.4.1 MoP

        5. 1.1.2.5 Secondary Macronutrients

          1. 1.1.2.5.1 Calcium

          2. 1.1.2.5.2 Magnesium

          3. 1.1.2.5.3 Sulfur

    2. 1.2 Form

      1. 1.2.1 Conventional

      2. 1.2.2 Speciality

        1. 1.2.2.1 CRF

        2. 1.2.2.2 Liquid Fertilizer

        3. 1.2.2.3 SRF

        4. 1.2.2.4 Water Soluble

    3. 1.3 Application Mode

      1. 1.3.1 Fertigation

      2. 1.3.2 Foliar

      3. 1.3.3 Soil

    4. 1.4 Crop Type

      1. 1.4.1 Field Crops

      2. 1.4.2 Horticultural Crops

      3. 1.4.3 Turf & Ornamental

India Fertilizers Market Size FAQs

The India Fertilizers Market size is expected to reach USD 43.32 billion in 2024 and grow at a CAGR of 6.39% to reach USD 62.83 billion by 2030.

In 2024, the India Fertilizers Market size is expected to reach USD 43.32 billion.

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