Axiom MRC has updated all it's market research reports with the Economic Impact Analysis of COVID19 Pandemic on the market. Our team of analyst are following Comprehensive Three Dimensional (3D) Research Methodology along with large number primary interviews with key industry participants to bring insightful market reports to meet the current market requirements.
Fertilizers improve the natural fertility of the soil or exchange the chemical components obtained from the soil. In Asia, rice is a big nitrogen-consuming crop. However, due to the rising concern over the current trend of fertilizer use, with heavy trust on nitrogenous fertilizer, together with poor nutrition management, lack of corresponding inputs, deteriorating soil fertility, and weak marketing and distribution systems, have all emerged as major restraints to improve fertilizer efficiency in the region. These concerns have given way to organic fertilizers to grow and fuel the fertilizer market in the region.
Mounting health and wellness trend has been setting a solid foundation for organic foods, with an increased number of health-minded consumers seeking better food quality and safety. Also growing consumer awareness about the hazardous effects of foods that are grown using synthetic fertilizers, is pushing farmers to look out for equal substitutes in organic fertilization. Government support together with growing awareness about the progressive impact of using organic fertilizers on human health and soil quality have been accelerating the growth of the organic fertilizer market.
The global markets are presently staggering from the effects of the Covid-19 pandemic that has reached across the globe. The agrochemicals industry has been hard hit since the outbreak, predominantly in China, the most significant manufacturer and consumer for phosphates, sulphur and sulphuric acid. However, the result on prices has been mixed with restricted supply of phosphates inciting a reversal in the downward trend.
While the condition improves in China, logistical issues are now being faced in other regions where the number of positive cases is mounting, such as Europe, Asia and the Americas. The number of confirmed cases in India is of major concern for many industries and phosphate plants in India are already starting to shut down. All over, borders are closing, vessels are being quarantined and the movement of people and product is being gradually constrained- together with fertilizers and its raw materials. As such further disturbance is anticipated in the fertilizer industry all over the globe in the coming weeks and months.
The exclusive COVID-19 Impact Analysis report by Axiom MRC explores the outbreak of COVID-19, its impact on the global and regional economies, and its implications on the agrochemicals sector. The report studies the effect of the pandemic on the global economy by evaluating factors like consumption, GDP, business investment, key players marketing strategies, key supply and demand-side factors and governmental policies & decisions.
The global Fertilizers industry is analysed based on type, crop type and geography. Organic and inorganic are the major types of fertilizers covered in this study. Organic fertilizers are further segmented into animal based, plant based and mineral based whereas inorganic fertilizers include nitrogen fixing, potassium fixing, phosphorous fixing and complex compounds. The global Fertilizers market is studied across various key countries of regions such as North America, Europe, Asia Pacific and Rest of the World. However, the development of the fertilizer market in Europe can be attributed to two factors including strong demand from consumers and government support.
The key competitors of this market include Agrocare Canada Inc., California Organic Fertilizers Inc., Coromandel International Ltd., BioStar Renewables, Fertikal, ILSA S.p.A., Italpollina S.p.A., Walt's Organic Fertilizer, Scotts Miracle-Gro, Sustane Natural Fertilizer, SARL PLANTIN, Perfect Blend, Nature Safe, Multiplex Group and Midwestern BioAg among others.
The repercussion of the COVID-19 necessitates a speculative future for economies and industries. Amongst continuous and constant developments, Axiom team of experts will bring to you timely updates about the Global Economic Impact of COVID-19.
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