Ocean View, DE -- (SBWIRE) -- 07/02/2020 -- According to the United Nations Food and Agriculture Organization (UN FAO), the world population is projected to exceed 10 billion by 2050, propelling agricultural demand by nearly 50% compared to 2013. It is also estimated that agricultural yield, particularly in emerging economies, would need to almost double.

A growing population combined with rising per capita income in these regions is anticipated to further accelerate food demand. In addition, a significant shift in dietary preferences, such as increased consumption of protein and high-nutrition foods, along with lifestyle trends observed in recent years, highlights the need to boost crop production.

The agriculture industry is slated to witness numerous challenges in the forthcoming years. In addition to population upsurge, several other factors ranging from changing climatic conditions, to urbanization and lack of investment, will make it challenging for the industry to produce enough food.

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In both developed as well as developing regions, farmers will need to enhance crop yield either by expanding the amount of agricultural land available to grow crops, or by improving productivity on existing farms by using organic fertilizers, sustainable irrigation practices, and adoption of advanced method such as precision farming and vertical farming.

Rapid growth in the world population over the decades has been one of the most prominent factors driving the global agriculture industry and consumption of fertilizers. The demand for food is surging across the globe and presently there could be considerable shortfall between the amount of food produced today and the amount required to feed the global population over the next few decades.

The use of fertilizers in agriculture helps replenish nutrients stripped off from the soil by harvested crops. These chemicals also increase biomass in nutrient-deficit soils and encourage the adoption of high-yielding varieties. Global Market Insights, Inc., predicts that global fertilizer market size will be worth over US$230 billion by 2026.

Farmers worldwide are switching to organic agricultural practices to keep up with the escalating consumer demand and at the same time promote environmental sustainability. Organic farming methods involve the use of ecofriendly pest control and soil regulation practices, including alternatives to conventional chemical-based fertilizers.

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The switch to organic farming has given rise to newly-developed organic fertilizers that help minimize the environmental impact of agricultural production and promote soil health. Organic-based fertilizers enable farmers to efficiently replenish soil health and promote high-yield crop production.

Furthermore, organically managed soils tend to show more active microbial population and higher SOM content, both of which are key signals of soil quality. Organic fertilizers also make crops more drought-resistant by improving the water-storage capacity and water infiltration rates.

Fertilizers have played and will continue to play a crucial role in high-yield crop production and be the foundation of the science-based agriculture required to feed the ever-increasing global population. Lack of awareness about the proper use of fertilizers may hamper the industry forecast up to certain extent. However, a positive application outlook of organic and water-soluble fertilizers and growing adoption of precision farming techniques will augment global fertilizer market share in the near future.