The supply chain disruptions caused by the Russia-Ukraine war have resulted in a surge in fertilizer prices. Russia is the world’s largest producer of fertilizers. Many countries are trying to cut their reliance on Russia for their fertilizer needs by focusing on domestic production.
Despite the challenges, the fertilizer industry witnesses consistent demand because of their importance in boosting agricultural production. The global fertilizer market is expected to grow substantially as the population increase pushes food consumption. The global fertilizer market is projected to grow at a CAGR of 3.3% to reach $205.34 billion by 2028.
