Mineral fertilizers market seen hitting $175.58 billion by 2033

The global mineral fertilizers market is projected to grow from $126.46 billion in 2026 to $175.58 billion by 2033, driven by food demand, commercial agriculture and nutrient-efficient products. Asia Pacific remains the largest regional market, while nitrogen-based fertilizers and soil application lead key segments.

Why it matters: - Mineral fertilizers are a core input for crop yields and soil fertility, so market growth tracks directly with global food production needs. - The projected rise from $126.46 billion in 2026 to $175.58 billion by 2033 signals sustained demand for crop nutrition products across commercial agriculture. - The market’s 4.8% CAGR through 2033 points to steady expansion rather than a short-term spike.

What happened: - Coherent Market Insights projected the global Mineral Fertilizers Market at $126.46 billion in 2026. - The same report forecast the market reaching $175.58 billion by 2033. - The report said the market will grow at a 4.8% CAGR from 2026 to 2033. - The release was issued from Burlingame, California.

The details: - Rising global food demand is a main driver of market growth. - Higher fertilizer use in commercial agriculture is supporting demand. - Farmers are adopting nitrogen, phosphate, potash and NPK fertilizers to improve crop productivity. - The report covers straight nitrogenous, phosphate and potash fertilizers, plus compound and blended NPK, NP and PK products. - Secondary nutrient and micronutrient fertilizers are also included in the market scope. - Granules and prills hold a 79.5% share, supported by storage ease, bulk handling and mechanized spreading. - Soil application accounts for 80.7% of use, making it the dominant application method. - Straight nitrogenous fertilizers lead the product mix with a 42.4% share, driven by urea and nitrogen demand in cereal cultivation. - Asia Pacific leads the regional market with a 41.1% share, supported by extensive cereal cultivation, intensive farming and strong manufacturing in China and India. - North America holds a 17.8% market share in 2026, supported by commercial agriculture, domestic production and potash investments. - Europe’s demand is shaped by nutrient efficiency goals, environmental compliance and agricultural productivity priorities. - The report also segments the market by crop type and sales channel, including cereals and grains, oilseeds and pulses, fruits and vegetables, plantation crops, direct sales, cooperatives, retailers, wholesalers, distributors and online sales. - The report listed Nutrien, Yara, Mosaic, CF Industries, OCP Group, EuroChem, PhosAgro, ICL, K+S, Uralkali, Fertiglobe, Saudi Arabian Mining Company, SQM, Coromandel International, IFFCO, Grupa Azoty, Sinofert Holdings and SABIC Agri-Nutrients among the companies covered. - Those companies supply nitrogenous, phosphatic, potassic and compound mineral fertilizers for agriculture. - The report highlighted nutrient-efficient fertilizers, precision application, production capacity expansion and low-emission manufacturing as key industry trends. - The report said fertilizer producers are upgrading facilities to improve energy efficiency and reduce emissions. - Recent developments included a proposed CHS and OCP North America joint venture for a phosphate fertilizer plant in Louisiana with up to $450 million in expected investment and more than 1 million metric tons of planned annual capacity. - Coromandel International reported progress on a brownfield fertilizer granulation project at Kakinada, India, expected to add 750,000 tons of annual capacity. - Pupuk Kalimantan Timur said performance testing of its modernized Ammonia Plant-2 improved average daily ammonia output and energy efficiency. - The report said its analysis also covers Porter’s Five Forces, market drivers, challenges and growth opportunities.

Between the lines: - The report points to a market where scale, logistics and manufacturing capacity matter as much as product demand. - The strongest segments are tied to bulk farming needs, suggesting fertilizer makers will keep prioritizing high-volume, efficiency-focused products. - Capacity additions in India, the U.S. and Indonesia indicate producers are preparing for continued demand and tighter competition.

What’s next: - Fertilizer demand will likely stay linked to cereal cultivation, food security concerns and farm productivity gains. - Producers are expected to keep investing in nutrient efficiency, precision application and lower-emission production. - Regional supply chains may continue to strengthen as new plants and expansions move forward. - The report is available through Coherent Market Insights, including sample and purchase options via the company’s report page.