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Latin America Fertilizers Market to grow substantially over 2020-2026

Author : Ravi Chawat | Published Date : 2020-09-02 

Latin America accounts for a major share of the global fertilizer market and is estimated to grow substantially over 2020-2026, with increasing demand for food in the region. Latin America possesses expansive inadequate cultivable land and sustaining growing population demand for foods adds more stress on the system to produce more crops.

Fertilizer for gardening applications will showcase a notable growth rate through 2026 on account of the shifting trends towards lawn keeping in houses and rise in public landscaping. Gardening includes public botanical gardens, residential gardens, public parks and others. Fertilizers are widely utilized in maintaining plants, herbs & shrubs, flowers as well as grass in gardens. Urbanization along with demographic changes have led to increased demand for landscaping and gardening at private homes, hotels & restaurants, office buildings, apartment & buildings, which in turn will fuel fertilizer consumption.

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This is resulting in increased demand for organic fertilizers from the region to boost its annual crop yield. Organic fertilizers does not only improves food production rates but also enhances soil fertility. Expansion of croplands along with increased government support towards effective use of fertilizers will positively foster regional industry growth.

In a bid to respond to the food supply and demand imbalance challenges, an urgent need of enhancing the crop yields is driving fertilizers market growth globally. An inversely proportional relation of per capita cultivated land and gradually rising population growth has increased the necessity to such an extent that majority agronomists around the globe are shifting towards long lasting fertilizers that would offer enhanced productivity in a due course of time.

Statistics suggest that the global population currently uses over 50% of total habitable land for agriculture, which is not enough likely to feed the surging population count. This has urged renowned companies to establish strategic partnerships and look forward to novel product launches in the field that has leveraged significant benefits to the overall market space over the recent years.

Recently, SMART Fertilizer Management launched a fertilizer management tool- SMART fertilizer software program which is expected to come handy for agronomists and farmers alike with an intent of offering them an experience of precision farming. As per official reports, the software would allow farmers to keep fertilizer from unwanted leaching into ground water and surface water sources, while supporting the preservation of soil structure and enabling the production of healthier crops.

Such initiatives would undeniably render positive outlook to the overall fertilizer market, which according to the market speculations raised by Global Market Insights, Inc., would register a valuation of USD 230 billion, by the end of 2026.

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About Author

Ravi Chawat

Ravi Chawat

Ravi Chawat holds a bachelor's degree in Electronics and Telecommunication Engineering. He has worked closely with industry specialists from different segments including chemicals, food and beverages, construction and manufacturing & energy and power. Ravi's article concentrates principally on balancing relevant data but never at the expense of making the content engaging. He believes in giving fair-minded information to guide significant business choices. [email protected] | https://twitter.com/RaviChawat

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