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MARKET OVERVIEW

1.1 Definition and scope of study

Like all living things, plants have certain nutritional needs that must be met in order to ensure their proper development. Four distinct needs have been scientifically identified: potassium (K), nitrogen (N), oxygen (O) and phosphorus (P). While oxygen is naturally present in the air, it is often necessary to ensure the supply of the other three elements in order to guarantee regular and high agricultural yields.

Nitrogen, potassium and phosphorus are therefore the basis for the production of of chemical fertilizers which is generally referred to as "NPK fertilizer". These fertilisers are also called mineral fertilisers. Another category of fertilizer exists, that of natural or organic fertilizers (produced from plant or animal matter).

The use of fertilizers responds to an action of soil fertilization. The objective is to increase agricultural yields to meet a global demand for food that is increasing year after year.

The global fertilizer market was valued at 155 billion dollars in 2019. It is expected to grow at a compound annual growth rate (CAGR) of 3.8% and reach a value of 193 billion dollars by 2025 [World Fertiliser]. Asia-Pacific is the largest geographical segment but also driver of this market, accounting for 60% of it. The increasing global population, food security concerns, but also environmental concerns are expected to lead to sustained growth in this market.

In Italy over 2.5 million tons of fertilizer were sold in 2018, of which the most important are urea (27%), nitrates (11.6%) and organic fertilizers (10%) [SILC]. However, the national market has been on a constant decline (-5.7% from 2017 to 2018 and -6% from 2017 to 2016). Since 2010 there has been an average 4% decline year on year [Terraevita]. However, in terms of fertilizer families, sales of azotes/nitrogen-based fertilizers have been increasing.

In terms of geographic distribution, 65% of fertilizers are used in northern regions, 15% in the centre of the peninsula and 20% in the south and islands [Federchimica].

The COVID-19 pandemic appears to have had little impact on this market, an in fact halted the historic negative trend. The first semester of 2020 reported equal consumption of fertilizers as the same time period of the previous year, while the second semester of 2020 reported a -0.2% decline in consumption [Federchimica]. Increases in consumption were reported for hydrosolubles (+10.6%), simple mineral fertilizers (+2.3%) and organic nitrous fertilizers (+11.2%). Meanwhile, liquid fertilizers experienced a moderate decrease in consumption (3.8%).

ANALYSIS OF THE DEMAND

MARKET STRUCTURE

ANALYSIS OF THE OFFER

REGULATION

POSITIONING OF THE ACTORS

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in 40 pages
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Analysts

Hugo S.

chargé d'études économiques, Xerfi

Hugo S.

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Mathieu Luinaud

Associate Consultant

Mathieu Luinaud

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Education Formation
Robin C.

PhD Industrial transformations

Robin C.

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Pierre D.

Analyst

Pierre D.

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Ross Alumni Club France

Arnaud W.

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Analyste de marché chez Businesscoot

Amaury de Balincourt

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Pierrick C.

Consultant

Pierrick C.

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Maelle V.

Project Finance Analyst, Consulting

Maelle V.

Héloise Fruchard

Etudiante en Double-Diplôme Ingénieur-Manager Centrale

Héloise Fruchard

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Imane E.

EDHEC

Imane E.

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Vincent D.

Auditeur

Vincent D.

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Eva-Garance T.

Eva-Garance T.

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Michela G.

Market Research Analyst

Michela G.

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Azelie P.

Market Research Analyst @Businesscoot

Azelie P.

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Cantiane G.

Market Research Analyst @Businesscoot

Cantiane G.

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Jules D.

Consultant

Jules D.

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Alexia V.

Alexia V.

Emil Ohlsson

Emil Ohlsson

Anna O.

Anna O.

Gabriel S.

Gabriel S.