Business

Europe Fertilizer Market Size and Share Report 2024-2030

  • PublishedAugust 6, 2024

Market Overview

The “Europe Fertilizer Market: Industry Trends, Share, Size, Growth, Opportunity, and Forecast 2024-2030” report by Renub Research offers a comprehensive analysis of the European fertilizer market, including market percentages, competition, geographic distribution, and growth potential. The market is predicted to expand at a compound annual growth rate (CAGR) of 2.50%, reaching USD 50.35 billion by 2030.

 

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Key Trends and Drivers

  • Agricultural Dominance: Agriculture leads the market, driven by the region’s focus on food security and sustainable farming practices.
  • Precision Agriculture: The adoption of precision agriculture techniques enhances nutrient management and minimizes environmental impact.
  • Liquid Fertilizers: The popularity of liquid fertilizers is rising due to their precise application, improved absorption, and reduced waste.

Market Segmentation

  • Type Breakdown
    1. Nitrogen (Nitrates, Urea, UAN, Compound Fertilizer, Others)
    2. Phosphorus
    3. Potassium
  • Form Breakdown
    1. Dry
    2. Liquid
  • Application Breakdown
    1. Agriculture
    2. Horticulture
    3. Gardening
    4. Others
  • Country Breakdown
    1. Germany
    2. France
    3. United Kingdom
    4. Italy
    5. Spain
    6. Netherlands
    7. Poland
    8. Sweden
    9. Austria
    10. Finland
    11. Turkey
    12. Norway
    13. Greece
    14. Iceland
    15. Switzerland
    16. Belgium
    17. Albania
    18. Denmark
    19. Others

Growth Drivers

Technological Advancements: Innovations in fertilizer formulations and application techniques are fostering more efficient and environmentally friendly fertilizer use.

Increasing Agricultural Land: In 2023, Europe utilized around 160 million hectares for agriculture, with over 100 million hectares for crop production.

Sustainable Practices: Emphasis on sustainable farming practices and soil health is driving the demand for fertilizers, particularly potassium-rich fertilizers.

Geopolitical Resilience: The industry must address supply chain disruptions and geopolitical events, highlighting the need for diversification and resilience.

Country Insights

United Kingdom: The UK holds a significant market share due to advanced agricultural practices and a focus on sustainable farming. In 2023, the UK consumed approximately 1.4 million metric tons of chemical fertilizers, with nitrogen being the most used nutrient.

France: France’s robust agricultural sector, diverse crop cultivation, and sustainable practices contribute to its growing role in the market.

Competitive Landscape

Key players in the European fertilizer market include:

  1. Yara International ASA
  2. K+S AG
  3. CF Industries Holdings
  4. Grupa Azoty S.A
  5. ICL Group
  6. OCI NV
  7. Sociedad Quimica y Minera de Chile SA
  8. BASF SE

Company News

  1. Yara International ASA: Recently announced the launch of a new range of eco-friendly fertilizers designed to reduce carbon footprint and enhance soil health.
  2. K+S AG: Reported a significant investment in research and development to improve the efficiency and sustainability of their fertilizer products.
  3. CF Industries Holdings: Expanded their production capacity in Europe to meet the growing demand for nitrogen-based fertilizers.
  4. Grupa Azoty S.A: Collaborated with local farmers in Poland to develop customized fertilizer solutions that address specific soil needs.
  5. ICL Group: Introduced a new line of liquid fertilizers that provide precise nutrient delivery and support sustainable agriculture.
  6. OCI NV: Focused on enhancing their distribution network across Europe to ensure timely supply and availability of their fertilizer products.
  7. Sociedad Quimica y Minera de Chile SA: Invested in advanced technologies to increase the efficiency of potassium-based fertilizers and support sustainable farming practices.
  8. BASF SE: Launched a new digital platform to help farmers optimize fertilizer use and improve crop yields through data-driven insights.

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Renub Research provides comprehensive insights to support strategic decision-making across various markets. With over 14 years of experience, they have published more than 7000 syndicated reports and worked on over 500 custom research projects.

 

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RenubResearch