Mexico Fertilizer Market Overview, 2027

Mexico Fertilizer Market Overview, 2027

Bonafide Research 04-08-2022 60 Pages Figures : 7 Tables : 25
Region : North America Country : Mexico Category : Food & Beverages Agriculture

Fertilizers are of the utmost importance to cultivating crops. Fertilizers are needed as the soil lacks essential nutrients due to continuous farming activities. Rising global temperatures and pollution are other factors that create the need for effective fertilizers. Nitrogenous fertilisers in dry form are the most used type in agriculture to increase the quality and yield of crops as they are a slow-release fertilizer. In recent years, commercial farming has increased, which has added to more demand for nitrogen fertilizers. Vegetables, fruits, cotton, and cereals need nitrogen fertiliser the most. Though nitrogen is naturally available in the air, very few plants actually absorb it in the required quantities. That is why the nitrogen fertiliser is applied to the crops. It helps in the photosynthesis process and allows plants to produce food in the sunlight. The fertiliser helps with faster yields and gives a better texture. A nitrogen deficiency can cause yellow leaves and stunted growth, and an excess of nitrogen results in enormous vegetation growth at the expense of flowering and fruiting. Urea is the most widely used nitrogenous fertiliser by farmers across the world as it is the cheapest fertilizer. It has a very high content of nitrogen at around 46%, but it should be moderately administered to the plants. Excess urea can result in rapid hydrolysis, forming ammonium carbonate around the seedlings. Products such as urea, ammonium nitrate, and anhydrous ammonia are chosen for cereals and grains as the quantity required for these products is lower to ensure the adequate nitrogen supply needed for optimum growth of the plants. Oilseeds and pulses are crucial crops that supply everyday requirements of necessary proteins, vitamins, and minerals to humans. The growth is attributed to the requirement of improving the percentage of germination of seeds and also obtaining dense pulse canopies. However, liquid urea-ammonium nitrate fertiliser is gaining popularity due to its high compatibility with pesticides, growth regulators, and other nutrients. It results in the uniform spraying of fertiliser without much work by farmers. But the high cost of liquid fertilisers limits their use to farmers. According to the report titled "Mexico Fertilizer Market Overview, 2027", published by Bonafide Research, the consumption of the Mexico fertiliser market is expected to grow steadily over the forecast period. Nitrogenous fertilisers dominate the market, while complex fertiliser use is expected to grow in the coming years. However, high prices of complex fertilisers are still a restraint, resulting in low demand from farmers. Cereals and grains have maximum application of fertilizers, while over the forecast period it is expected that fertilisers will be used more to produce oilseeds and pulses. Cereal and grain demands are rising to meet the proportionately growing population around the country. Increased demand for rice, wheat, barley, maize, paddy, and other crops means increased demand for fertilisers to increase yields that are both more in number and also quality. Dry fertilisers dominate the market as they are easy to store and do not require special conditions as they can be kept at room temperature. They are more effective at pre-plantation time as they are slowly released to the seeds. It is cost-effective when buying bulk quantities of fertilizer. Granular fertilisers vary in size and consistency based on the brand and the source of the product. Moreover, dry fertilisers have a longer shelf life. Most dry fertilisers will last an eternity if stored away from moisture and direct sunlight. The rise in demand for dry fertilisers by consumers has generated significant demand for fertilizers. However, uncontrolled use of fertilisers results in pollution of the soil and crops, which affects their growth. The decrease in arable land in the country is driving the market for fertilizers. Increasing urbanisation and commercialization is another factor resulting in a declining land area for agriculture. Fertilizers are demanded more with the rising food demand from the ever increasing population of the country, and water soluble fertilisers in the forecast period. However, organic fertilisers challenge the demand for chemical fertilizers. Since the farmers are uneducated in developing countries, they lack optimum utilisation of the fertilizers. The recent government regulations pertaining to the use of fertilisers for agricultural purposes act as a growth hindrance. The rise in awareness campaigns to educate farmers regarding the benefits of fertilizers, such as promoting the use of fertilisers via television advertisements and workshops, is estimated to drive the fertiliser demand. COVID-19 Impact: Agriculture was an essential activity and so was exempted from government regulations during the pandemic. But the restrictions on the movement of people and goods created challenges for the industry, halting the supply of fertilizers. Due to non-availability, the farmers were not able to sow the seeds at the proper time and the food production came to a standstill. Due to the shortage of labour and the shutdown of a few fertiliser plants located in the integrated chemical complexes, shipments were affected in the initial lockdown process. China, a major fertiliser supplier to the world markets, was not able to export fertilisers to other countries, which created scarcity and a price hike in fertilizers. However, government initiatives and subsidies after the pandemic have eased the farmers' burdens, giving them relief for fertiliser purchases. Considered in this report Geography: Mexico Historic Year: 2016 Base year: 2021 Estimated year: 2022 Forecast year: 2027 Aspects covered in this report Mexico fertilizer market with its value and forecast along with its segments Application wise fertilizer consumption Various drivers and challenges On-going trends and developments Top profiled companies Strategic recommendation Types of fertilizer by nutrient in the report: Nitrogenous fertilizer (Urea, ammonium sulphate, CAN/ AN, others) Phosphate fertilizer (Di-ammonium phosphate, mono-ammonium phosphate, others) Potash fertilizer (Muriate of potash/potassium chloride, sulphate of potash others) Complex fertilizer (NPK, NK, PK, NP compounds) By Product type in the report: Urea Ammonium sulphate Calcium ammonium nitrate/ Ammonium nitrate Di-ammonium phosphate (DAP) Mono-ammonium phosphate (MAP) Muriate of potash (MOP)/ (KCl) Sulphate of potash (SOP) Complex (NPK, NK, PK, NP) By physical formulation in the report: Dry Liquid The approach of the report: This report consists of a combined approach of primary as well as secondary research. Initially, secondary research was used to get an understanding of the market and listing out the companies that are present in the market. The secondary research consists of third party sources such as press releases, annual report of companies, analysing the government generated reports and databases. After gathering the data from secondary sources primary research was conducted by making telephonic interviews with the leading players about how the market is functioning and then conducted trade calls with dealers and distributors of the market. Post this we have started doing primary calls to consumers by equally segmenting consumers in regional aspects, tier aspects, age group, and gender. Once we have primary data with us we have started verifying the details obtained from secondary sources. Intended audience This report can be useful to industry consultants, manufacturers, suppliers, associations & organizations related to fertilizer industry, government bodies and other stakeholders to align their market-centric strategies. In addition to marketing & presentations, it will also increase competitive knowledge about the industry. Please get in touch with our sales team to find out more.

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