News Wires published a story on the fertilizer markets. The article states the market is expected to grow from US$ 3,512.65 million in 2022 to US$ 4,050.19 million by 2028; it is expected to grow at a CAGR (compound annual growth rate) of 2.4 percent from 2022 to 2028.
The demand for fertilizers in many countries has been growing due to a rise in population resulting in an increased need for country-grown food grains, and less reliance on imports. According to the Food and Agriculture Organization of the United Nations (FAO) and the International Food Policy Research Institute (IFPRI), the global food demand is expected to rise by 70 percent by 2050 due to rising consumer incomes in regions such as Asia, Eastern Europe, and Latin America.
Republished in Telecom Industry News, MENA FN.