Economic Impact Analysis of COVID19 on Global Fertilizers Market Size and Forecast, 2019-2028
Fertilizers improve the natural fertility of the soil or exchange the chemical components obtained from the soil. In Asia, rice is a big nitrogen-consuming crop.
Economic Impact Analysis ofCOVID19 on Global Fertilizers Market Size and Forecast, 2019-2028
Fertilizers improve the natural fertility of the soil orexchange the chemical components obtained from the soil. In Asia, rice is a bignitrogen-consuming crop. However, due to the rising concern over the currenttrend of fertilizer use, with heavy trust on nitrogenous fertilizer, togetherwith poor nutrition management, lack of corresponding inputs, deterioratingsoil fertility, and weak marketing and distribution systems, have all emergedas major restraints to improve fertilizer efficiency in the region. Theseconcerns have given way to organic fertilizers to grow and fuel the fertilizermarket in the region.
Mounting health and wellness trend has been setting a solidfoundation for organic foods, with an increased number of health-mindedconsumers seeking better food quality and safety. Also growing consumerawareness about the hazardous effects of foods that are grown using synthetic fertilizers,is pushing farmers to look out for equal substitutes in organic fertilization.Government support together with growing awareness about the progressive impactof using organic fertilizers on human health and soil quality have beenaccelerating the growth of the organic fertilizer market.
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COVID-19 IMPACT ONGLOBAL FERTILIZERS MARKET
The global markets are presently staggering from the effectsof the Covid-19 pandemic that has reached across the globe. The agrochemicalsindustry has been hard hit since the outbreak, predominantly in China, the mostsignificant manufacturer and consumer for phosphates, sulphur and sulphuricacid. However, the result on prices has been mixed with restricted supply ofphosphates inciting a reversal in the downward trend.
While the condition improves in China, logistical issues arenow being faced in other regions where the number of positive cases ismounting, such as Europe, Asia and the Americas. The number of confirmed casesin India is of major concern for many industries and phosphate plants in Indiaare already starting to shut down. All over, borders are closing, vessels arebeing quarantined and the movement of people and product is being graduallyconstrained- together with fertilizers and its raw materials. As such furtherdisturbance is anticipated in the fertilizer industry all over the globe in thecoming weeks and months.
The exclusive COVID-19 Impact Analysis report by Axiom MRCexplores the outbreak of COVID-19, its impact on the global and regionaleconomies, and its implications on the agrochemicals sector. The report studiesthe effect of the pandemic on the global economy by evaluating factors likeconsumption, GDP, business investment, key players marketing strategies, keysupply and demand-side factors and governmental policies & decisions.
FERTILIZERS MARKETSEGMENTAL HIGHLIGHTS
The globalFertilizers industry is analysed based on type, crop type and geography.Organic and inorganic are the major types of fertilizers covered in this study.Organic fertilizers are further segmented into animal based, plant based andmineral based whereas inorganic fertilizers include nitrogen fixing, potassiumfixing, phosphorous fixing and complex compounds. The global Fertilizers marketis studied across various key countries of regions such as North America,Europe, Asia Pacific and Rest of the World. However, the development of thefertilizer market in Europe can be attributed to two factors including strong demand from consumers andgovernment support.
FERTILIZERS MARKETKEY PLAYERS
The key competitors of this market include Agrocare CanadaInc., California Organic Fertilizers Inc., Coromandel International Ltd.,BioStar Renewables, Fertikal, ILSA S.p.A., Italpollina S.p.A., Walt's OrganicFertilizer, Scotts Miracle-Gro, Sustane Natural Fertilizer, SARL PLANTIN,Perfect Blend, Nature Safe, Multiplex Group and Midwestern BioAg among others.
ECONOMIC IMPACTANALYSIS OF COVID-19 ON GLOBAL FERTILIZERS MARKET REPORT KEY HIGHLIGHTS:
· To Estimate and Forecast Global FertilizersMarket Considering Economic Impact of COVID19 Pandemic
· To Study Economic Impact of CVOID 19 Pandemic onGlobal Fertilizers Market Value Chain
· Impact on Global Agrochemicals Industry
· Economic Impact on Raw Material/ ComponentsSuppliers (Supply Side Analysis)
· Economic Impact on End users/ Consumer (DemandSide Analysis)
· Economic Indicators Analysis by Countries andImpact on Fertilizers Market of respective Countries for GDP and GovernmentPolicies
· Competitive Landscape including Key Strategiesopted by Companies, Company Profiles etc.
The repercussion of the COVID-19 necessitates a speculativefuture for economies and industries. Amongst continuous and constantdevelopments, Axiom team of experts will bring to you timely updates about theGlobal Economic Impact of COVID-19.
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