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Brazil Fertilizer Market - Growth, Trends, COVID-19 Impact, and Forecasts (2022 - 2027)

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  • 119 Pages
  • August 2022
  • Region: Brazil
  • Mordor Intelligence
  • ID: 5318397
The Brazilian fertilizer market is projected to register a CAGR of 4.3% during the forecast period (2022-2027).

The impact of the COVID-19 pandemic on Brazil's fertilizer market has been minimal, mainly attributed to reduced transportation barriers. All manners of agricultural activities were exempted from lockdown restrictions; hence, there was no groundbreaking effect of the pandemic on this sector. In fact, the fertilizer market registered positive growth compared to last year due to the panic buying behavior of farmers.

The potential expandable agricultural land, growing demand for micronutrient fertilizers, and government subsidies for agricultural inputs are the major factors driving the growth of the market. According to FAO, around 236.87 ha of the country's land area was used for agriculture in 2019. Brazil, being a large agricultural producer, offers many opportunities for agrochemical companies. The market is witnessing several acquisitions by global players who are likely to increase their share in the Brazilian fertilizer market. For instance, Nutrien Ltd acquired Brazilian Ag retailer Agrosema Comercial Agricola Ltda in early 2020.

Key Market Trends

Increasing Fertilizer Imports in Brazil

According to the Brazilian National Fertilizer Association, the total volume of fertilizers supplied to the Brazilian market in 2021 increased by 14.2% compared to the fertilizer supply in 2020. The average spending by farmers on fertilizers has continued to increase as it has become more difficult to expand the planted areas. The trade statistics of the country are likely to remain heavily dependent on fertilizer imports. Brazil’s fertilizer imports increased by 5% annually between 2016 and 2020. The value of fertilizers imported in 2020 accounted for USD 8,013,512.0 thousand. The fertilizer imports between January-November 2021 were up by 19.1% compared to the same period in 2020. Thus, the increasing import dependency, coupled with the rising fertilizer use in the country, is likely to accelerate the sales of fertilizers in the years to come.

Potassic Fertilizer Dominates the Market

Brazil accounts for 66.0% of the total domestically used fertilizers in South America, and it continues to expand its crop cultivating area. Hence, the fertilizer demand increased in recent years. This trend is expected to continue, even though the planted area did not expand as fast in 2018 as it did in the years before that. According to FAOSTST, in 2019, the total NPK consumption was 15,877.1 thousand ton, of which 6,101.9 was potassium fertilizer. Potassic is the fastest-growing fertilizer segment due to increasing soybean cultivation in Brazil. Furthermore, potassic fertilizer is suitable for the low-fertile and acidic soils of tropical Brazil, which helps in increasing the yield and productivity of the agricultural crop, thereby driving the growth of the segment.

Competitive Landscape

The Brazilian fertilizer market is fairly fragmented. The companies in the market are not only competing based on product quality and promotion but are also focused on strategic moves to hold larger market shares. New product launches, partnerships, and acquisitions are the major strategies adopted by the leading companies in the Brazilian fertilizer market. Fertilizantes Heringer SA, Yara International ASA, The Mosaic Company, Nutrien Ltd, and Eurochem Group are some of the key players operating in the market.

Additional Benefits:

  • The market estimate (ME) sheet in Excel format
  • 3 months of analyst support

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Table of Contents

1.1 Study Assumptions and Market Definition
1.2 Scope of the Study
4.1 Market Overview
4.2 Market Drivers
4.3 Market Restraints
4.4 Porter's Five Forces Analysis
4.4.1 Bargaining Power of Suppliers
4.4.2 Bargaining Power of Buyers
4.4.3 Threat of New Entrants
4.4.4 Threat of Substitute Products
4.4.5 Competitive Rivalry
5.1 Product
5.1.1 Nitrogenous Fertilizers Urea Calcium Ammonium Nitrate Ammonium Nitrate Ammonium Sulfate Anhydrous Ammonia Other Nitrogenous Fertilizers
5.1.2 Phosphatic Fertilizers Mono-ammonium Phosphate (MAP) Di-ammonium Phosphate (DAP) Triple Superphosphate (TSP) Other Phosphatic Fertilizers
5.1.3 Potash Fertilizers Muriate of Potash Other Potash Fertilizers
5.1.4 Secondary Nutrient Fertilizers
5.1.5 Micronutrient Fertilizers
5.2 Application
5.2.1 Grains and Cereals
5.2.2 Pulses and Oilseeds
5.2.3 Commercial Crops
5.2.4 Fruits and Vegetables
5.2.5 Other Applications
6.1 Most Adopted Strategies
6.2 Market Share Analysis
6.3 Company Profiles
6.3.1 Adubos Sudoeste
6.3.2 Brazil Potash
6.3.3 Bunge Limited
6.3.4 EuroChem
6.3.5 Fertilizantes Heringer SA
6.3.6 Fertipar
6.3.7 ICL Fertilizers
6.3.8 The Mosaic Company
6.3.9 Nutrien Ltd
6.3.10 Yara International ASA

Companies Mentioned (Partial List)

A selection of companies mentioned in this report includes, but is not limited to:

  • Adubos Sudoeste
  • Brazil Potash
  • Bunge Limited
  • EuroChem
  • Fertilizantes Heringer SA
  • Fertipar
  • ICL Fertilizers
  • The Mosaic Company
  • Nutrien Ltd
  • Yara International ASA