Market Overview:
Granular urea is one of the most widely used nitrogen fertilizers across the globe. It contains 46% nitrogen and is easily soluble in water which makes it easily absorbable by plants. It is used to boost crop yield by increasing the nitrogen content in soil. Granular urea helps increase protein content in grains, stimulates plant growth, and improves the quality and quantity of agricultural produces like wheat, rice, corn, and vegetables.
Key Takeaways
The global Granular Urea Market Size is expected to witness high growth, exhibiting CAGR of 4.9% over the forecast period, due to increasing consumption of nitrogen fertilizers to boost agricultural production to meet the rising food demand. The market size for 2023 is estimated at US$ 40.95 Mn.
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