LONDON–(BUSINESS WIRE)–SpendEdge has been monitoring the global fertilizer market and the market is poised to experience spend growth of over USD 50 billion between 2018-2023 at a CAGR of over 5% during the forecast period. Request Free Sample Pages.
Read the 103-page research report with TOC and LOE on “The Global Fertilizer Market – Procurement Intelligence Report, Pricing Outlook in Geographies that include APAC, North America, South America, and MEA, top suppliers, supplier selection and negotiation strategies, and insights into best practices to optimize procurement spend.”
This spend growth is attributed to the necessity to increase crop yields, to reduce cultivation cycles, and to provide optimum nutrients to crops. The growing population is depleting agricultural land across the world which is compelling buyers in the market to increasingly adopt fertilizers to reduce agriculture cycle crops, thereby facilitating higher cultivation in minimal arable land. Governments across the world are educating farmer associations on the use of fertilizers to enhance crop yields. These factors are promoting spend growth in the fertilizer market during the forecast period.
APAC holds the largest regional share in the global fertilizer market, accounting for approximately 52% of the total spend on fertilizers. The dominance of this region will be attributed to the increase in the use of fertilizers by end-consumers in India. These end-consumers have increased the cultivation of crops such as rice and wheat, which will drive the demand for fertilizers over the forecast period. For instance, the annual wheat production in India is expected to grow at nearly 17% in 2020 compared with nearly 11% in 2017.
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The Top Fertilizer Suppliers Enlisted in this Report:
Shortage of skilled labor and volatile crude oil prices will have cascading effects on the OPEX of suppliers that will ramify into excess procurement spend for buyers in the fertilizer market. However, strategic cost-control initiatives, price forecasting techniques, and adequate technology adoption will aid fertilizer suppliers to sustain their profit margins. Such suppliers will have the liberty to offer service to buyers at competitive rates without affecting their profit margins. On this note, this report has listed the top fertilizer suppliers, SLA agreement insights, and the selection and negotiation strategies that buyers must undertake to achieve optimal procurement in this market. Insights into some of the suppliers’ portfolio are given below:
Nutrien– Spread across 14 nations, Nutrien is among the leading providers of crop inputs and services and plays a critical role in helping growers to increase crop yield in a sustainable manner. This fertilizer supplier is known to take initiatives to reduce the environmental impacts of their products. It is in the process of examining the emissions and reduction opportunities along their value chain and setting emission reduction goals.
ICL– This fertilizer supplier is known to adopt several measures to improve raw materials and fuel utilization rates and reduce the effect of their facilities on the environment. Some of the sustainable steps it undertook include reducing the production of hazardous wastes by using newer technologies and greener feedstocks, using renewable feedstocks, among others.
Uralkali– This fertilizer supplier is deepening its focus on improving the energy efficiency of its operations by adopting measures such as setting up cogeneration facilities that produce both heat energy and electricity simultaneously. This eliminates the need to procure electricity from external sources. This process runs at higher energy efficiency compared with traditional energy generation process, thus improving the overall efficiency of suppliers’ facilities.
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Some of the key topics covered in this report are:
- Fertilizer market spend segmentation by region
- Fertilizer supply market analysis
- Regional spend opportunity for fertilizer suppliers
- Fertilizer suppliers cost structure
- Total cost of ownership analysis in the fertilizer market
- Fertilizer pricing models analysis
- Category management objectives
- Cost saving opportunities in the fertilizer market
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