Chemical Fertilizers Market Size

Chemical Fertilizers Market size was valued at USD 174.72 Billion in 2023 and is poised to cross USD 548.58 Billion by the end of 2036, expanding at more than 9.2% CAGR during the forecast period i.e., between 2024-2036. In the year 2024, the industry size of chemical fertilizers is estimated at USD 189.19 Billion. The market for chemical fertilizers is estimated to expand since there is a growing demand to maximize production and yield with conventional farming practices. The need for chemical fertilizers in the farming sector has been propelled by the enormous desire for cost-effective, sustainable farming practices.

Many governments provide subsidies and incentives to promote agriculture and food production. These policies can stimulate demand for chemical fertilizers among farmers. For instance, the US federal government paid farms USD 28.5 billion in direct agriculture program payments or subsidies in 2021.