A new research report recently added by Transparency Market Research to its vast collection of research studies offers a detailed overview of the nitrogen nutrients market on a global level. The report, titled “Nitrogen Nutrients Market – Global Industry Analysis, Size, Share, Growth, Trends, and Forecast 2016 – 2024,” talks about the key segments, geographical scenario, and the competitive landscape of the overall market. As per the study, the tremendously rising demand for food due to increasing population is one of the key factors propelling the global nitrogen market.
The development of agrochemicals and improved fertilizers and the rising demand for high-quality food are anticipated to boost the demand for nitrogen nutrients throughout the forecast period. On the other hand, the lack of awareness among farmers, especially in underdeveloped and developing nations is predicted to act as a challenge for the key players operating in the global nitrogen nutrients market. Moreover, the high cost of products is expected to curb the growth of the market in the near future.
On the basis of product form, the global market for nitrogen nutrients can be segmented into dry and liquid. Among these, the liquid form of nitrogen nutrients segment is projected to hold a large share of the overall market throughout the forecast period. The easy availability and high solubility in water are the key factors that are expected to boost the demand for liquid nitrogen nutrients across the globe. Furthermore, the nitrogen nutrients are majorly used in the agriculture industry, including supplements, fertilizers, and soil amendments. Among these, the fertilizers segment is projected to remain in the dominant position throughout the forecast period in terms of market share and revenue.
From a geographical viewpoint, Europe and North America are expected to mark high growth throughout the forecast period. Technological advancements and new government policies have affected positively for global nitrogen nutrients market. On the other hand, Asia Pacific nitrogen nutrients market is predicted to observe a sluggish growth, owing to the major changes in government policies concerning use and production of fertilizers. The zero growth policy adopted by China, which limits consumption of nutrients and fertilizers has significantly affected the nitrogen nutrients market in Asia Pacific.
Request to view Sample Report:
The nitrogen nutrients market worldwide is expected to face a healthy competition throughout the forecast period. Prominent players in the market are T.STANES & COMPANY LIMITED, CF Industries, K+S AKTIENGESELLSCHAFT, Agrium Inc., Potashcorp, and Belaruskali, Mosaic. The leading players in the market are focusing on research and development activities so as to create an awareness among farmers regarding the benefits of nitrogen nutrients for enhancing food production. With the rising profit margins, several new players are expected to enter the market with improved and innovative products in the near future.