Press Release Description
A USD 1.2 Billion Nigeria Fertilizers Market to Witness an Estimated CAGR of 4.89% During 2025-30
The Nigeria Fertilizers Market size is valued at around USD 1.2 billion in 2024 and is estimated to reach around USD 1.4 billion by 2030. Along with this, the market is anticipated to grow at a CAGR of around 4.89% during the forecast period, i.e., 2025-30, cites MarkNtel Advisors in the recent research report. Nigeria's fertilizer industry is growing gradually due to several factors. The increased agricultural activities amplified the demand for composts to enhance grain yields. To improve the grain output for the growing food demand, fertilizers are required as they enhance the soil health and hence provide proper nutrition to cultivars. The consumption rate from 2022-23 was 26% showing the potential market opportunity in fertilizer.
Moreover, the market is shifting towards organic fertilizers as they do not use chemicals. These sustainable fertilizers are bio-based, eco-friendly, and restrict greenhouse gas releases hence the demand for them is increasing. Farmers and consumers are aware of environmental concerns and the benefits of using sustainable fertilizers. These fertilizers are made up of plant materials or animal waste providing essential nutrients to the soil and grain. The trend is supported by the government of Nigeria to prevent environmental issues like soil erosion or water pollution.
Furthermore, the government is also promoting local manufacturers to increase the production of fertilizers. The government is pushing fertilizer manufacturers to produce more fertilizers through various collaborations and partnerships aiming to transform Nigeria into an exporter of fertilizers, ultimately augmenting growth & expansion of the industry, further states the research report, “Nigeria Fertilizers Market Analysis, 2025”.
Nigeria Fertilizers Market Segmentation Analysis:
Dry Fertilizers Hold the Largest Market Share
Based on form, the market is further bifurcated into, the liquid and dry segments. Dry fertilizers have captured almost 70%-80% share of the market for fertilizers in Nigeria. Dry fertilizers come in granular powdered form and thus easily mix with soil to provide nutrition directly to the roots. The dry fertilizers get easily dissolved in water to reach each part of the plant providing nutrients that make it suitable for various types of crops such as cereals (maize, rice, and sorghum) and legumes. Farmers are using it in large-scale agricultural activities as requires low maintenance and can be stored for a longer time. They are present in two forms in the market, complex and straight fertilizers, which can be used based on the crop requirement.
Users Preferred Complex Fertilizer Products
Complex fertilizers are leading the market with more than 50% of the market share. Complex fertilizers contain various nutrients such as NPK (Nitrogen, Phosphorus, and Potassium). With the availability of multiple nutrients, it is cost-effective and efficient in crop element management. Thus farmers are using these fertilizers to increase their agricultural output as these have balanced nutrients and amplify the crop yield. The government is also taking various initiatives to boost the use of complex fertilizers, further augmenting the segmental revenue growth.
Competitive Landscape
With strategic initiatives such as mergers, collaborations, and acquisitions, the leading market companies, including Dangote Fertilizer Plant, Indorama Eleme Fertilizer & Chemicals Ltd., Notore Chemical Industries Plc, Golden Fertilizer Company Ltd., EarthCare Nigeria Limited, OCP Africa, Kano Agriculture Supply Company Ltd., Superphosphate Fertilizer & Chemicals Ltd., Springfield Agro Ltd., Hamdala Fertilizer and Chemicals Co. Ltd., and Others are looking forward to strengthening their market positions.
Key Questions Answered in the Research Report
- What are the industry’s overall statistics or estimates (Overview, Size- By Value, Forecast Numbers, Segmentation, Shares)?
- What are the trends influencing the current scenario of the market?
- What key factors would propel and impede the industry across the country?
- How has the industry been evolving in terms of geography & product adoption?
- How has the competition been shaping up across the country?
- How have buying behavior, customer inclination, and expectations from product manufacturers been evolving during 2020-2030?
- Who are the key competitors, and what strategic partnerships or ventures are they coming up with to stay afloat during the projected time frame?
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