Specialty Fertilizers Market: Market Segments: By Type (Nitrogenous, Specialty, Potassium, and Others); By Application (Soil, Foliar and Fertigation); By Crop Type (Cereals & Grains, Oilseeds & Pulses, Fruits & Vegetables, Turf & Ornamentals, and Others); and Region – Global Analysis by Market Size, Share & Trends for 2014 – 2020 and Forecasts to 2030
Specialty fertilizers are classified as soil & plant fertilizers which are applied in a special condition. In order to lift the level of production, specialist fertilizers demanded specialized action in plants. Specialty fertilizers release nutrients that are important. These nutrients are in adequate quantities and are completely consumed by the plants. It regulates the extent of interaction with moisture.
Specialty Fertilizers Market is expected to project a notable CAGR of 7.52% in 2030.
Specialty Fertilizers Market to surpass USD 57.81 billion by 2030 from USD 29.54 billion in 2019 at a CAGR of 7.52% throughout the forecast period, i.e., 2020-30. Key factors expected to help the growth of the global market is rapid technological developments in agricultural technology, growing demand for high-efficiency fertilizers, combined with the adoption of precision farming.
Specialty Fertilizers Market: Segments
Fertigation Segment to grow with the highest CAGR during 2020-30
Specialty Fertilizers Market is segmented by application into soil, foliar and fertigation. In areas of row crops, horticultural crops, fruit crops, vegetable crops, and ornamental & flowering crops, fertigation is used. Fertigation is an agricultural technique that involves the application of water and fertilizer through irrigation. This method creates an opportunity to optimize yield and mitigate contamination of the atmosphere. In addition, a farmer may apply nutrients evenly throughout the field through fertigation, whenever needed.
Specialty Fertilizers Market: Market Dynamics
High Efficiency of Specialty Fertilizers
Fertilizers are one of modern agriculture’s most important elements. The production of fruit, feed, fuel, fiber and other plant products has increased markedly with the application of fertilizers in agricultural practices. Specialty fertilizers offer farmers another opportunity to achieve responsible nutrient stewardship in their arsenal. Nutrient losses, such as runoff, leaching, ambient losses, and direct loss, can occur in many ways.
The production cost of specialty fertilizer is very high as compared to conventional fertilizers, since specialty fertilizers have a complex manufacturing method. The prices of controlled-release fertilizers are four to six times higher than traditional NPK (nitrogen, phosphorous, and potassium) prices, according to the IFA (International Fertilizer Association). The high price of different specialty fertilizers, such as micronutrient fertilizers and personalized fertilizers, is therefore expected to hinder the growth of the market for specialty fertilizers.
Specialty Fertilizers Market: Regions
Specialty Fertilizers Market is segmented based on regional analysis into five major regions. These include North America, Latin America, Europe, APAC and MENA.
Specialty Fertilizers Market in Asia Pacific held the largest market share of XX.X% in the year 2020 owing to due to the rise in the population, growing buying power, growing health issues, the prevalence of crop diseases, market players’ increasing emphasis, increasing government measures, environmental concerns, and lifestyle changes. Factors that are projected to drive the growth of the nitrogen fertilizer market in this area are rising agricultural practices and the need for high-quality agricultural produce. Rice, sugar beet, fruits & vegetables, cereals, and grains are major crops produced in Asia; 90 percent of global rice produced is consumed by the country. High levels of nitrogen fertilizers per hectare are being applied to both short-term and perennial crops by Asian countries such as Korea, China, Japan and, more recently, Vietnam. Therefore, the area has a strong demand for specialty fertilizers.
Specialty Fertilizers Market: Key Players
• Yara International ASA
• Company Overview, Business Strategy, Key Product Offerings, Financial Performance, Key Performance Indicators, Risk Analysis, Recent Development, Regional Presence and SWOT Analysis.
• Nutrien Ltd.
• SQM SA (Sociedad Química Y Minera De Chile)
• K+S Aktiengesellschaft
• Israel Chemical Ltd. (ICL)
• The Mosaic Company
• EuroChem Group
• CF Industries Holdings, Inc.
• OCI Nitrogen
• Haifa Group
• Plant Food Company, Inc.
• Coromandel International Limited
• Hebei Monband Water Soluble Fertilizer Co.,Ltd
• Zuari Agro Chemicals Ltd
Specialty Fertilizers Market report also contains analysis on:
Specialty Fertilizers Market Segments:
By Crop types:
• Cereals & Grains
• Oilseeds & Pulses
• Fruits & Vegetables
• Turf & Ornamentals
• Specialty Fertilizers Market Dynamics
• Specialty Fertilizers Market Size
• Supply & Demand
• Current Trends/Issues/Challenges
• Competition & Companies Involved in the Market
• Value Chain of the Market
• Market Drivers and Restraints
FAQs on Specialty Fertilizers Market
· Which segment is anticipated to hold the largest market share?
· At what CAGR is the market anticipated to grow between 2020 and 2030?
· Who are the key players in the Specialty Fertilizers Market?
· What could be the challenging factors in the growth of Specialty Fertilizers Market?
· What are the growth drivers for the Specialty Fertilizers Market?