India Urea - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts (2024 - 2030)

The India Urea Market size is estimated at USD 12.5 billion in 2024, and is expected to reach USD 19.67 billion by 2030, growing at a CAGR of 7.85% during the forecast period (2024-2030).

Key Highlights

• Largest By Type - Straight : Conventional Urea is the most consumed fertilizer in India, as Nitrogen is the most yield limiting nutrient for crop growth and farmers are highly adapted to its usage.
• Largest by Coating Type - Polymer Coated : The polymer coated fertilizers release the nutrients for longer duration and decrease the leaching losses of fertilizers in the soil and also reduce the application rate.
• Largest By Crop Type - Field Crops : The domination of field crops in Fertilizers market is mainly due to its large cultivation area in the country. They account for more than 95% of total crop area.

India Urea Market Trends

Field Crops is the largest segment by Crop Type.

• In India, field crops alone account for about 94.9% of the total urea fertilizer market, valued at USD 11.30 billion in 2021.
• Field crops consumed about 98.0% of conventional urea fertilizers in 2021 due to their low cost and widespread availability in the country. However, in field crops, there is an increasing trend in adopting specialty urea fertilizers due to their efficiency.
• Horticulture crops account for about 5.5 percent of the total urea fertilizer market, valued at USD 657.1 million in 2021. India is the world's second largest producer of fruits and vegetables, and the country ranks first in Banana, Mango, Lemon, Papaya, and Okra.
• Since the last few decades, there has been an increase in nitrogen application rates and a decrease in nitrogen use efficiency. It is estimated that fertilizer consumption in India may double by 2050, and there is an urgent need to improve the fertilizer use efficiency in the country. The controlled-release fertilizers can improve fertilizer use efficiency and decrease fertilizer pollution, particularly in horticultural crops.
• In the Indian turf and ornamental industry, floriculture has been one of the growing industries in recent years. In 2020-21, the country exported 15.6 thousand metric tons of floriculture products to the world for a total value of USD 7.8 Million. Controlled-release fertilizers have a great potential to penetrate this industry by innovating different release patterns that suits floriculture. Turf and ornamental crops account for about 0.11% of the total urea fertilizer market, valued at USD 13.6 million in 2021.

India Urea Industry Overview

The India Urea Market is fragmented, with the top five companies occupying 3.51%. The major players in this market are Chambal Fertilizers & Chemicals Ltd, Coromandel International Ltd., Gujarat Narmada Valley Fertilizers & Chemicals Ltd, Indian Farmers Fertiliser Cooperative Limited and National Fertilizers Ltd (sorted alphabetically).

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• The market estimate (ME) sheet in Excel format
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