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South America Fertilizers Market Size

The South America Fertilizers Market is experiencing growth driven by increasing demand for crop production, particularly in field crops like soybean, corn, and wheat. The market's expansion is supported by free trade agreements that enhance agricultural output, contributing to the region's economic stability. Brazil and Argentina are key players, with Brazil leading in fertilizer consumption, primarily using conventional fertilizers. The market's growth trajectory is influenced by the need to improve crop yield and quality, responding to the rising food grain demand driven by population growth in the region.

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Market Size of south america fertilizers Industry

South America Fertilizers Market Summary
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svg icon Study Period 2017 - 2030
svg icon Market Size (2024) USD 49.35 Billion
svg icon Market Size (2030) USD 68.66 Billion
svg icon Largest Share by Crop Type Field Crops
svg icon CAGR (2024 - 2030) 5.66 %
svg icon Largest Share by Country Brazil
svg icon Market Concentration Low

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

Key Players

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South America Fertilizers Market Analysis

The South America Fertilizers Market size is estimated at 49.35 billion USD in 2024, and is expected to reach 68.66 billion USD by 2030, growing at a CAGR of 5.66% during the forecast period (2024-2030).

49.35 Billion

Market Size in 2024 (USD)

68.66 Billion

Market Size in 2030 (USD)

8.25 %

CAGR (2017-2023)

5.66 %

CAGR (2024-2030)

Largest segment by Product

30.41 %

value share, MoP, 2023

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With a potassium content ranging from 60.0% to 62.0%, MoP boasts the highest concentration among potassic fertilizers, positioning itself as the most widely used in the region.

Largest Segment by Crop Type

94.63 %

value share, Field Crops, 2023

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Due to intensive cultivation and monoculture practices, field crops have depleted the nutrients in the soil. Thus, leading to higher specialty fertilizer consumption.

Fastest Growing Speciality Type

7.16 %

Projected CAGR, CRF, 2024-2030

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The factors such as providing sustained and efficient nutrient supply to the plants and fewer nutrient losses are driving the demand for control-release fertilizers.

Largest segment by Country

72.49 %

value share, Brazil, 2023

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Brazil is expected to account for 70.0% of the world's arable land by the year 2050, and it is expected to be a major market for various fertilizers in the future.

Leading Market Player

15.77 %

market share, Yara International ASA, 2022

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Yara International involves in production and marketing of crop nutrition products and solutions. Which includes foliar, water soluble, micronutrient and other fertilizers.

The fertilizer market is poised for growth due to shifting climate patterns and rising soil nutrient deficiencies

  • The overall fertilizer market value by crop type has accounted for USD 48.1 billion and is estimated to record a CAGR of 5.6% during 2023-2030. By volume, the overall consumption accounted for 64.0 million metric tons and is estimated to record a CAGR of 3.3% during 2023-2030.
  • By crop type, field crops are dominating the market by 94.5%, followed by horticultural crops with 5.5% of fertilizer consumption value. Both horticultural and field crops are essential to the country's trade and consumption, and the increased domestic and international demand is bolstering the segment's growth.
  • The area under field crop cultivation has increased by a CAGR of 2.2% during 2023-2030. With important crops being cultivated in the country, such as soybean, corn, and wheat, the country is actively importing fertilizers to meet the domestic demand, which is driving the growth of the segments.
  • Accordingly, Free trade agreements (FTAs) between the United States, Chile, and several Latin American countries have been a major factor in the increase in fruit and vegetable production in South American countries over the last few decades. These FTAs, including NAFTA (USMCA), CAFTA-DR, and bilateral agreements with countries such as Chile, Colombia, Panama, and Peru, are expected to further boost fertilizer demand in the region.
  • The growth of the South American fertilizers market is being driven by various factors, including the need to meet the growing demand, improve crop yield and quality, and increase production. As a result, the market volume is expected to register a CAGR of 3.3% from 2023 to 2030.
South America Fertilizers Market

Due to higher cultivation areas under major crops like soybeans, fertilizer consumption in Brazil leads to a higher share

  • Brazil, accounting for 73.0% of South America's domestic fertilizer consumption, leads the region in fertilizer usage. The Brazilian market is predominantly driven by conventional fertilizers, which held a commanding 95.2% share in 2022. Specialty fertilizers made up the remaining 4.8%.
  • Argentina, a global exporter of wheat and soybeans, sees agriculture contributing around 5.9% to its GDP. In 2022, Argentina held a 14.6% share of the South American fertilizer market. Similar to Brazil, conventional fertilizers dominated, capturing 96.1% of the market, while specialty fertilizers accounted for 3.9%. Within the specialty segment, liquid fertilizers led at 44.7%, followed by water-soluble fertilizers at 52.6%.
  • The Rest of South America, excluding Brazil and Argentina, held a 14.8% share of the regional fertilizer market in 2022. Field crops, commanding an 83.1% market share by volume, reached 8.15 million metric tons in 2022. Projections indicate this volume will climb to 10.53 million metric tons by 2030, representing a significant growth trajectory.
  • Field crops, including soybeans, corn, and sugarcane, dominated the South American fertilizer market in 2022, capturing 94.2% of the market share. These crops have witnessed substantial growth over the past two decades, with further increases expected. Driven by countries like Brazil expanding their cultivated areas and aiming for higher yields, this trend is set to continue.
  • Driven by a rising population and the subsequent surge in food grain demand, South America has witnessed a consistent expansion in the area dedicated to major food crops. This trend points to a projected growth in the region's fertilizer market during 2023-2030.

South America 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. Argentina, Brazil are covered as segments by Country.

  • The overall fertilizer market value by crop type has accounted for USD 48.1 billion and is estimated to record a CAGR of 5.6% during 2023-2030. By volume, the overall consumption accounted for 64.0 million metric tons and is estimated to record a CAGR of 3.3% during 2023-2030.
  • By crop type, field crops are dominating the market by 94.5%, followed by horticultural crops with 5.5% of fertilizer consumption value. Both horticultural and field crops are essential to the country's trade and consumption, and the increased domestic and international demand is bolstering the segment's growth.
  • The area under field crop cultivation has increased by a CAGR of 2.2% during 2023-2030. With important crops being cultivated in the country, such as soybean, corn, and wheat, the country is actively importing fertilizers to meet the domestic demand, which is driving the growth of the segments.
  • Accordingly, Free trade agreements (FTAs) between the United States, Chile, and several Latin American countries have been a major factor in the increase in fruit and vegetable production in South American countries over the last few decades. These FTAs, including NAFTA (USMCA), CAFTA-DR, and bilateral agreements with countries such as Chile, Colombia, Panama, and Peru, are expected to further boost fertilizer demand in the region.
  • The growth of the South American fertilizers market is being driven by various factors, including the need to meet the growing demand, improve crop yield and quality, and increase production. As a result, the market volume is expected to register a CAGR of 3.3% from 2023 to 2030.
Type
Complex
Straight
Micronutrients
Boron
Copper
Iron
Manganese
Molybdenum
Zinc
Others
Nitrogenous
Ammonium Nitrate
Urea
Others
Phosphatic
DAP
MAP
SSP
TSP
Others
Potassic
MoP
SoP
Others
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
Country
Argentina
Brazil
Rest of South America
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South America Fertilizers Market Size Summary

The South America Fertilizers Market is poised for significant growth, driven by the increasing demand for agricultural production to meet the needs of a rising population. The market is characterized by a strong focus on field crops, which dominate the fertilizer consumption landscape, with soybeans, corn, and wheat being the primary crops driving this demand. The expansion of cultivated areas, particularly in Brazil and Argentina, is a key factor contributing to the market's growth trajectory. The region's strategic trade agreements, such as those with the United States and various Latin American countries, have further bolstered the production of fruits and vegetables, thereby enhancing the demand for fertilizers. The market is also witnessing a shift towards conventional fertilizers, with specialty fertilizers gaining traction, particularly in Argentina.

The South American fertilizers market is fragmented, with major players like ICL Group Ltd, K+S Aktiengesellschaft, Nutrien Ltd., The Mosaic Company, and Yara International ASA holding significant shares. These companies are actively expanding their operations and product offerings to cater to the growing demand. The market's growth is underpinned by the need to improve crop yield and quality, as well as the increasing area under field crop cultivation. The application of primary nutrients such as nitrogen, phosphorus, and potassium is crucial for enhancing crop output, and their usage is expected to rise in tandem with the expanding agricultural areas. Despite challenges such as drought conditions affecting crop harvests and transportation, the overall outlook for the South American fertilizers market remains positive, with a steady increase in both market size and consumption volume anticipated over the forecast period.

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South America 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 Ammonium Nitrate

          2. 1.1.2.2.2 Urea

          3. 1.1.2.2.3 Others

        3. 1.1.2.3 Phosphatic

          1. 1.1.2.3.1 DAP

          2. 1.1.2.3.2 MAP

          3. 1.1.2.3.3 SSP

          4. 1.1.2.3.4 TSP

          5. 1.1.2.3.5 Others

        4. 1.1.2.4 Potassic

          1. 1.1.2.4.1 MoP

          2. 1.1.2.4.2 SoP

          3. 1.1.2.4.3 Others

        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

    5. 1.5 Country

      1. 1.5.1 Argentina

      2. 1.5.2 Brazil

      3. 1.5.3 Rest of South America

South America Fertilizers Market Size FAQs

The South America Fertilizers Market size is expected to reach USD 49.35 billion in 2024 and grow at a CAGR of 5.66% to reach USD 68.66 billion by 2030.

In 2024, the South America Fertilizers Market size is expected to reach USD 49.35 billion.

South America Fertilizer Market Report Snapshots

South America Fertilizers Market SIZE & SHARE ANALYSIS - GROWTH TRENDS & FORECASTS UP TO 2030