The market volume for fertilizers containing nitrogen and phosphorus in Portugal grew significantly in recent years, reaching 13.42 million kilograms by 2023. Notable year-on-year growth of 5.95% was observed from 2022 to 2023, following a 7.1% rise the previous year. Over a five-year period, the market demonstrated resilience with a compound annual growth rate (CAGR) of -1.14%, indicating sporadic fluctuations.
Looking ahead, factors such as environmental regulations, agricultural innovation, and sustainable farming practices are crucial. These elements will likely influence market dynamics, promoting adaptation to climate resilience and eco-friendly fertilizer alternatives.
