According to the recent report by IMARC Group, titled “Fertilizer Market: Global Industry Trends, Share, Size, Growth, Opportunity and Forecast 2021-2026,” the global fertilizer market share exhibited moderate growth during 2015-2020 and expected to grow at a CAGR of around 4% during 2021-2026.
Fertilizers are natural or chemical substances that are applied to soil for the productive growth of the crops. Some of the essential nutrients present in these fertilizers are nitrogen, phosphorus, and potassium. Apart from offering an improved crop yield, they also enhance the texture and fertility of the soil, replace lost nutrients, and increase water retention.