Complex Fertilizer Market - Forecast(2024 - 2030)

Report Code: AGR 0091 Report Format: PDF + Excel

Complex Fertilizer Market Overview:

Complex Fertilizer Market size is estimated to reach $81 billion by 2031, growing at a CAGR of 6.1% during the forecast period 2024-2031. Growing demand for nutrient-specific fertilisers and government incentives for farmers to use fertilisers to increase agricultural production is driving the market for complex fertilisers to grow. Complex fertilisers, which are made by blending two or more different macronutrient fertiliser types, are used to give crops the right fertility and nutrients. Complex fertilizers are primarily made up of two or three micronutrients, such as nitrogen, potassium, and phosphorus, which are all necessary to plants and are present in variable amounts in them. These complex fertilisers can also be coupled with different substances known as trace or secondary nutrients, which are nutrients that are given to plants in little amounts. Among the nutrients in this category are calcium, magnesium, and sulphur. Complex fertilisers have several benefits, including lower costs, field convenience, and simple crop nutrition level interactions. Increased crop yields would be necessary throughout the current predicted period to meet rising nutrient-specific fertiliser needs and rising biofuel demand.

Market Snapshot: 

Complex Fertilizer Market - Report Coverage:

The “Complex Fertilizer Market Report - Forecast (2024-2031)” by IndustryARC, covers an in-depth analysis of the following segments in the Complex Fertilizer Market.



By Form

  • Solid

  • Liquid

By Type

  • Incomplete (Diammonium phosphate, Monoammonium phosphate, Mono potassium phosphate, Potassium nitrate, and Others)

  •  Complete ((NPK (10-26-26), NPK (12-32-16), NPK (15-15-15), Others)

By Crop Type

  • Cereals

  • Oilseeds & Pulses

  • Fruits & Vegetables

  • Others

By Geography

  • North America (U.S., Canada and Mexico)

  • South America (Brazil, Argentina, Chile, Colombia, and Rest of South America)

  • Europe (Germany, France, UK, Italy, Spain, Russia, and Rest of Europe),

  • Asia-Pacific (China, Japan, South Korea, India, Australia & New Zealand, and Rest of Asia-Pacific),

  • Middle East & Africa (Middle East, Africa)

COVID-19 / Ukraine Crisis - Impact Analysis:  

• The COVID-19 pandemic is a public health emergency that is having a devastating impact on the world economy, both directly and through efforts by public health to limit the disease's spread. These effects have a cascading influence on the entire food system, affecting consumer demand, upstream and downstream food processing, seasonal labour availability, and intermediate input availability. Reduced farm output and a reduction in the demand for sophisticated fertiliser are two ways that the agricultural sector may eventually adapt to a decline in consumer demand. As the supply side reacts to weaker demand gaps, farm revenues will be further pressured and the need for complex fertilisers will decline, resulting in a drop in agricultural prices, at least in the immediate term.
• Ukraine is a major global producer and exporter of fertilizers, particularly nitrogen-based fertilizers like urea and ammonia. The crisis disrupts fertilizer production and export from Ukraine, leading to potential supply shortages and price volatility in the global complex fertilizer market.

Key Takeaways:

• Fastest Growth of Asia-Pacific Region
Geographically, in the global Complex Fertilizer Market share, Asia-Pacific is analyzed to grow with the highest CAGR of 7.2% during the forecast period 2024-2031. Large-scale operations with a well-organized distribution network dominate in the area. The majority of farmers in Asia and the Pacific are small-scale, traditional farmers. More than 45 million metric tonnes of nutrients were consumed by the Asian nation in 2019. India and the United States followed in second and third, respectively, with 29.4 and 20.4 million tonnes.

• Oilseeds Register the Fastest Growth
In the Complex Fertilizer Market analysis, the oilseeds segment is estimated to grow with the highest CAGR of 8.1% during the forecast period. Across the world, crops like soybean, cottonseed, sunflower, peanuts, and canola supply vital food resources. For instance, soybean, an oilseed, is used extensively in feed, biofuel, and human food applications. Complex fertilisers are therefore growing in popularity as a means of guaranteeing healthy crop stands and excellent yields.

There are two main types of complex fertilisers: liquid and solid. Depending on the crop, season, crop age, fertiliser type, and concentrations, solid fertilisers are either administered straight to the soil or blended with NPK fertilisers. It is economical to apply it on low-cost cereals like wheat and maize, which are the main crop types dominating the complex fertilisers market because it is a low-cost approach compared to others (such as fertigation).

Liquid Complex Fertilizers is Leading the Market
According to the Complex Fertilizer Market forecast, liquid complex fertilizers held the largest market valuation of $52 billion in 2023. Complex liquid fertilisers are anticipated to do well in the market throughout the forecast period because of their high nutritional content. Modern liquid fertilisers ensure that plants acquire critical nutrients in a way that is beneficial to plant nutrition regardless of changing climatic conditions, driving the market's expansion.

• High Nutritional Content
Due to its high nutritional value, the global market for complex fertilizers is expanding. Sophisticated fertilizers offer several convenience-related advantages in the area of financial savings. Over the projected period, the market for complex fertilizers is anticipated to rise due to rising demand for nutrient-specific fertilizers and the need for high crop yields for the generation of biofuel. For instance, in order to increase the industry's worth to US$ 7.5 billion by 2022, the Indian biofuels business committed US$ 2.25 billion in future projects in 2020.

• Rising Demand for Food Security
The rising demand for food security has emerged as a pivotal driver for the growth of the complex fertilizers market, shaping the agricultural landscape and the global economy at large. As the world population continues to expand, it is projected to reach 9.7 billion by 2050 according to the United Nations, placing immense pressure on the agricultural sector to produce more food. This escalating demand for food, coupled with changing dietary preferences and urbanization, underscores the critical need for sustainable and efficient agricultural practices. Complex fertilizers provide a balanced and tailored nutrient supply to plants, ensuring optimal growth and higher yields. This efficiency in nutrient delivery enhances crop productivity, allowing farmers to produce more food from the same land area.

• Adoption of Organic Fertilizers is the Major Challenge
One of the primary challenges to the expansion of the global complex fertilizer market is people's growing inclination to use organic fertilizers. According to the research institute for organic agriculture over 50.9 million hectares of land were used for organic agriculture in 2020

Complex Fertilizer Market Share (%) By Region, 2023


Key Market Players: 

Product/Service launches, approvals, patents and events, acquisitions, partnerships and collaborations are key strategies adopted by players in the Complex Fertilizer Market. The top 10 companies in this industry are listed below:
1. Agrium Inc. 
2. CF Industries Holdings, Inc.
3. Coromandel International Ltd.
4. Eurochem Group AG 
5. Haifa Chemicals Ltd.
6. Helena Chemical Company
7. Israel Chemicals Limited
8. Phosagro
9. Potash Corporation of Saskatchewan Inc.
10. Sociedad Química Y Minera De Chile SA.

Scope of the Report: 

Report Metric


Base Year Considered


Forecast Period




Market Size in 2031

$81 billion

Segments Covered

By Form, Type, Crop Type and Region

Geographies Covered

North America (U.S., Canada and Mexico), Europe (Germany, France, UK, Italy, Spain, Russia and Rest of Europe), Asia-Pacific (China, Japan, South Korea, India, Australia, New Zealand and Rest of Asia-Pacific), South America (Brazil, Argentina, Chile, Colombia and Rest of South America), Middle East & Africa

Key Market Players

1. Agrium Inc.

2. CF Industries Holdings, Inc.

3. Coromandel International Ltd.

4. Eurochem Group AG

5. Haifa Chemicals Ltd.

6. Helena Chemical Company

7. Israel Chemicals Limited

8. Phosagro

9. Potash Corporation of Saskatchewan Inc.

10. Sociedad Química Y Minera De Chile SA.

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1. Complex Fertilizer Market - Overview
1.1 Definitions and Scope
2. Complex Fertilizer Market - Executive Summary
2.1. Market Revenue, Market Size and Key Trends by Company
2.2. Key Trends by Type 
2.3. Key Trends by Geography
3. Complex Fertilizer Market - Comparative Analysis
3.1. Company Benchmarking - Key Companies
3.2. Financial Analysis - Key Companies
3.3. Market Value Split by Key Companies
3.4 Patent Analysis
3.5 Pricing Analysis
4. Complex Fertilizer Market - Start-up Companies Scenario (Premium)
4.1. Investment
4.2. Revenue
4.3. Venture Capital and Funding Scenario
5. Complex Fertilizer Market – Industry Market Entry Scenario Premium (Premium)
5.1. Regulatory Framework Overview
5.2. New Business and Ease of Doing Business Index
5.3. Case Studies of Successful Ventures
6. Complex Fertilizer Market - Forces
6.1. Drivers
6.2  Constraints and Challenges
6.3. Porter's Five Force Model
6.3.1. Bargaining Power of Suppliers
6.3.2. Bargaining Powers of Customers
6.3.3. Threat of New Entrants
6.3.4. Rivalry Among Existing Players
6.3.5. Threat of Substitutes
7. Complex Fertilizer Market – Strategic Analysis
7.1. Value Chain Analysis
7.2. Market Life Cycle
7.3. Opportunities
8. Complex Fertilizer Market – by Form (Market Size – $Million/$Billion) 
8.1. Solid
8.2. Liquid
9. Complex Fertilizer Market – by Type (Market Size – $Million/$Billion) 
        9.1. Incomplete
9.1.1. Diammonium phosphate
        9.1.2. Monoammonium phosphate
9.1.3. Mono potassium phosphate
9.1.4. Potassium nitrate
9.1.5. Others
9.2. Complete
9.2.1. NPK (10-26-26)
9.2.2. NPK (12-32-16)
9.2.3. NPK (15-15-15)
9.2.4. Others
10. Complex Fertilizer Market – by Crop Type (Market Size – $Million/$Billion) 
10.1. Cereals
10.2. Oilseeds & Pulses
10.3. Fruits & Vegetables
10.4. Others
11. Complex Fertilizer Market – by Geography (Market Size – $Million/$Billion) 
        11.1. North America
       11.1.1. U.S.
       11.1.2. Canada
               11.1.3. Mexico
11.2. South America
11.2.1. Brazil
11.2.2. Argentina
11.2.3. Chile
11.2.4. Colombia
11.2.5. Rest of South America
11.3. Europe
11.3.1. France
11.3.2. Germany
11.3.3. Italy
11.3.4. Rest of Europe
11.3.5. Russia
11.3.6. Spain
11.3.7. U.K.
11.4. Asia-Pacific
11.4.1. Australia
11.4.2. China
11.4.3. India
11.4.4. Japan
11.4.5. New Zealand
11.4.6. Rest of APAC
11.4.7. South Korea
11.5. Middle East & Africa
11.5.1.Middle East
11.5.2. Africa
12. Complex Fertilizer Market – Entropy
12.1. New product launches
12.2. M&A's, collaborations, JVs and partnerships
13. Complex Fertilizer Market – Industry/Segment Competition Landscape Premium 
13.1. Market Share Analysis
13.1.1.Market Share by Country - Top Companies
13.1.2. Market Share by Region- Key Companies
13.1.3. Best Practises for companies
13.1.4. Competition Matrix
14. Complex Fertilizer Market – Key Company List by Country Premium Premium 
15. Complex Fertilizer Market - Company Analysis
15.1. Agrium Inc. 
15.2. CF Industries Holdings, Inc.
15.3. Coromandel International Ltd.
15.4. Eurochem Group AG 
15.5. Haifa Chemicals Ltd.
15.6. Helena Chemical Company
15.7. Israel Chemicals Limited
15.8. Phosagro
15.9. Potash Corporation of Saskatchewan Inc.
15.10. Sociedad Química Y Minera De Chile SA.

The Complex Fertilizer Market is projected to grow at 6.1% CAGR during the forecast period 2024-2031.

The Global Complex Fertilizer Market size is estimated to be $50 billion in 2023 and is projected to reach $81 billion by 2031.

The leading players in the Complex Fertilizer Market are Agrium Inc., CF Industries Holdings Inc., Coromandel International Ltd., Eurochem Group AG, Haifa Chemicals Ltd and Others.

Precision Agriculture and Digital Solutions, Sustainable Fertilizer Practices, and Customized Nutrient Formulations are some of the major Complex Fertilizer Market trends in the industry which will create growth opportunities for the market during the forecast period.

High Nutritional Content and rising Demand for Food Security are the driving factors of the market.