Sulfur Fertilizers Market Projected to Reach USD 5.52 Billio…

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WASHINGTON, Feb. 07, 2022 (GLOBE NEWSWIRE) — Vantage Market Research’s recent analysis of the Global Sulfur Fertilizers Market finds that increase in sulfur deficiency in soils is expediting market growth. Primarily driven by increase in preference for high-quality crops, the total Global Sulfur Fertilizers Market is estimated to reach USD 5.52 Billion by 2028. The market stood at a revenue of USD 4.71 Billion in 2021. The market is projected to grow at a Compound Annual Growth Rate (CAGR) of 2.2%.

Furthermore, the rise in investments in agricultural activities of developing economies is also anticipated to augment the growth of the Global Sulfur Fertilizers Market, states Vantage Market Research, in a report, titled“ Sulfur Fertilizers Market by Type (Sulfates, Elemental Sulfur, Liquid Sulfur Fertilizers), by Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Others), by Form (Dry, Liquid), by Mode of Application (Soil, Foliar, Fertigation), by Cultivation Type (Open Field, Controlled-Environment Agriculture), by Region (North America, Europe, Asia Pacific, Middle East & Africa) – Global Industry Assessment (2016 – 2021) & Forecast (2022 – 2028)”.

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Market Dynamics :

Driver: Increase in Sulfur Deficiency in Soils to Drive the Market Growth

Sulfur is considered to be an essential element that is needed for successful crop production and it also plays a crucial part in plant physiology, and protection from pests. It also offers protein synthesis and chlorophyll production, that helps plants in regulating the process of photosynthesis. Sulfur deficiencies are becoming common owing to the reduced inputs from atmospheric deposition of sulfur, and the continuous changes in agricultural practices and growth of high-yield crops. To detect the sulfur deficiency various chemical methods have been deployed to provide accurate, precise, rapid and highly correlated values. Thus, the increase in sulfur deficiencies is anticipated to drive the demand for Sulfur Fertilizers in the years to come.

Opportunity: Rise in Investments in Agricultural Activities of Developing Economies to Fuel Market Growth

Investment in agriculture sector has increased sharply in developing countries over the past few decades. This is owing to the rising commodity prices, the increase in strategic concerns of food-importing countries and various commercial opportunities in agriculture. Most of the investment in agriculture is majorly done by agribusiness enterprises, sovereign wealth funds; state-owned enterprises; and private equity. For instance, The International Finance Corporation (IFC), member of the World Bank Group, announced a green loan of US$80 million to Latin American Agribusiness Development Corporation (LAAD) and the Caribbean in August 2021, to support Small and Medium Enterprises (SMEs) in the adoption and improvement of water use efficiency projects, sustainable practices and renewable energy generation. However, the growing trend of consuming organic fertilizers to reduce the demand for Sulfur Fertilizers may hamper the growth of the market. Moreover, the emergence of elemental sulfur enriched NPK fertilizers will further support the growth of the market.

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COVID-19 Impact Analysis:

The COVID-19 outbreak has affected various industries worldwide. Governments across the world implemented strict lockdown measures and social distancing norms in order to restrict the swift spread of the pandemic. Manufacturing facilities around the world were shut down during the initial stages of the pandemic. Moreover, the economic crisis after the pandemic might lead to a significant delay in the commercial roll-out of the agriculture industry. Small and medium-scale companies are the backbone of technology providers and are witnessing a steep drop in revenue since the emergence of the pandemic in 2020. Hence, market players faced numerous challenges as disruptions in the supply chain were observed. However, things will improve in the second half of 2022 as more supplies will come online. The impact of COVID-19 on the market demand is considered while estimating the current and forecast market size and growth trends of the market for all the regions and countries based on the following data points:

The report on Sulfur Fertilizers Market highlights:

• Assessment of the market
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• COVID Impact Analysis
• Historic Data, Estimates and Forecast
• Company Profiles
• Global and Regional Dynamics

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Regional Analysis :

Asia Pacific to Witness Fastest Growth in the Global Sulfur Fertilizers Market

Asia Pacific is likely to witness fastest growth in the Sulfur Fertilizers Market during the forecast period. This is attributable to the increasing demand for high-quality agriculture produce with the increase in agriculture practices in the region. Additionally, the huge consumption due to the increasing demand is also expected to support the growth of the Sulfur Fertilizers Market in near future.

Asia Pacific held largest market share in Global Sulfur Fertilizers Market and is likely to continue the same trend during the forecast period. This is attributable to the increase in agriculture area and awareness about the use of sulphur in the region. Furthermore, early adoption of new technologies like data analysis, IoT and AI in healthcare is also expected to support the regional growth of the market.

List of Prominent Players in the Sulfur Fertilizers Market:

• Yara International ASA (Norway)
• Nutrien, Ltd. (Canada)
• ICL (Israel)
• The Mosaic Company (US)
• K+S Aktiengesellschaft (Germany)

Browse Summary of this Research Report:

Key questions answered in the report:

• Which regional market will show the highest and rapid growth?
• Which are the top five players of the Sulfur Fertilizers Market?
• How will the Sulfur Fertilizers Market change in the upcoming six years?
• Which application and product will take a lion’s share of the Sulfur Fertilizers Market?
• What is the Sulfur Fertilizers market drivers and restrictions?
• What will be the CAGR and size of the Sulfur Fertilizers Market throughout the forecast period?

Recent Developments:

December, 2021: Yara Growth Ventures announced to invest in leading Turkish agriculture fintech Tarfin as part of USD 8M financing. By providing credit and selling inputs through an easy-to-use experience and with competitive prices, Tarfin then has tremendous potential to layer on new offerings to their customers.

February, 2020: ICL announced the acquisition of Growers Holdings Inc. (US), an innovator in the field of data-driven farming, which provides information on fertilization and on-field applications. The acquisition further enhances ICL’s digital service offering and accelerates its global development roadmap.

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