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A fertilizer is any material of natural or synthetic origin that is applied to soils or to plants to supply one or more plant nutrients essential to the growth of plants. The fertilizer industry comprises establishments primarily engaged in nitrogenous fertilizer manufacturing, phosphatic fertilizer manufacturing and fertilizer manufacturing.
The fertilizer market was the eighth largest market in the chemicals market in 2015 with a value of $XX bn, representing XX% of the overall market.
Asia was the largest geographic market in the fertilizer market in 2015, accounting for $XX billion or XX% of the global market. Asia is the largest market because of the presence of a large farming community in China and India using fertilizers. The Americas was the second largest geographic market, accounting for $XX billion or XX% of the global market. Europe was the third largest geographic market, accounting for $XX billion or XX% of the global market.
Global per capita fertilizer consumption grew from $XX in 2011 to $XX in 2015 at a CAGR of XX% and is expected to grow to $XX in 2019 at a CAGR of XX%. Per capita consumption is increasing because of increases in demand for water soluble fertilizers in many parts of the world.
Many farmers across the world are shifting from chemical fertilizers to organic fertilizers. Organic fertilizers are carbon-based compounds that increase the productivity and growth quality of plants. Using organic fertilizers helps ensure food produced from these fertilizers is non-toxic, safe and environment friendly and also ensures farms remain fertile for longer periods. Organic fertilizers play an important role in practising sustainable organic farming by the farming community.
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