INDIAN FERTILIZER INDUSTRY AT A GLANCE IN 2021 - 2022 The Indian Fertilizer Market size reached a value of INR 858 Billion in 2021. The Indian fertilizer market is projected to register a CAGR of 11.9% during the period 2022-2027.
India is the second-largest consumer of fertilizers globally, with an annual consumption of more than 55 million ton.
In 2021, urea consumption in India amounted to over 33 million ton compared to other fertilizers, and the consumption volume of urea was the highest across the country that year, followed by diammonium phosphate (DAP), according to Industry Experts.
According to the Indian Economic Survey 2021-2022, thanks to performance of the Indian Fertilizer Industry, the country's agriculture sector’s gross value added (GVA) experienced growth over the past years. It grew at 3.9% in 2021-22 and 3.6% in 2020-21. According to the Food and Agriculture Organization, the production in the country increased.
Reasons behind GrowthGood monsoon, various government measures to enhance credit availability, improved investments, better market facilities, good infrastructure development, and increased quality inputs to the sector helped increase the growth of the Indian Fertilizer Industry.