The global complex fertilizers market size was valued at USD 38.12 billion in 2023 and is projected to grow from USD 39.77 billion in 2024 to USD 55.43 billion by 2031, exhibiting a CAGR of 4.86% during the forecast period. This expansion is driven by the rising demand for high crop yields, depleting soil fertility, and the increasing adoption of sustainable agricultural practices.
Market Dynamics and Trends
Complex fertilizers, which combine multiple nutrients such as nitrogen, phosphorus, and potassium in a single formulation, are gaining popularity over simple fertilizers due to their balanced nutrient composition. This balanced approach aids in maximizing crop yields and improving soil health. The market's growth is further propelled by the need for efficient nutrient management and the convenience offered by complex fertilizers in application.
Technological advancements in fertilizer production and the integration of precision agriculture techniques are also contributing to market expansion. The development of crop-specific fertilizers and controlled-release formulations enhances nutrient use efficiency, reduces environmental impact, and supports sustainable farming practices.
Segment Analysis
The complex fertilizers market is segmented based on product type, form, crop type, and mode of application. Incomplete complex fertilizers, which lack one or more primary nutrients, held a larger market share in 2024 due to their suitability for specific crop requirements. In terms of form, solid fertilizers dominated the market revenue share in 2025, attributed to their ease of storage and application.
Among crop types, the cereals and grains segment is projected to register the highest CAGR from 2025 to 2034. This growth is driven by the increased demand for cereals to address food scarcity and the rising use of vegetable oil for human consumption and biodiesel production. Regarding the mode of application, foliar spray is expected to dominate the market in 2022 and is projected to be the fastest-growing segment during the forecast period, as it allows for direct nutrient absorption through plant leaves.
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Key Companies in Complex Fertilizers Market:
- Yara International ASA
- CF Industries Holdings, Inc.
- Haifa Negev technologies LTD
- The Mosaic Company
- EuroChem Group
- Coromandel International Ltd.
- Nutrien Ag Solutions
- PhosAgro Group
- K+S Aktiengesellschaft
- Koch IP Holdings, LLC
- OCI
- Wilbur-Ellis Company LLC
- ICL
- Zuari Agro Chemicals LTD
- Acron
Regional Insights
North America held the largest share of the global complex fertilizers market in 2024, driven by the growing regional population and the demand for sustainable agricultural products. The region's emphasis on advanced farming techniques and environmental sustainability contributes to market growth.
The Asia-Pacific region is projected to register the fastest growth during the forecast period. Factors such as increasing adoption of new farming methods, rising food demand due to population growth, and government subsidies supporting fertilizer use in countries like India and China are propelling market expansion.
Future Outlook
The complex fertilizers market is poised for sustained growth, driven by the increasing demand for balanced nutrient solutions, technological advancements in fertilizer production, and the global emphasis on sustainable agriculture. However, challenges such as high manufacturing costs and stringent regulatory frameworks may impact market dynamics. Stakeholders must navigate these challenges to capitalize on emerging opportunities in the evolving market landscape.