The specialty fertilizers market size is expected to reach USD 58.98 Billion in 2028 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. Steady market revenue growth can be attributed to rising demand for more effective fertilizers to maximize agricultural productivity and crop quality and yield, and to minimize environmental degradation and impact. Rising needs to minimize the use of chemical fertilizers as these cause accumulation of toxic chemicals, damage soil fertility, adversely affect crop productivity and quality, and deplete organic carbon content has been resulting in rising demand for specialty fertilizers. Increasing sustainable farming practices in various countries across the globe is also contributing to steady growth of the specialty fertilizers market.
The competitive landscape of the report has been formulated by considering all the vital parameters such as company profiling, market share, recent developments and advancements, gross margins, product portfolio, revenue generation, financial standing, market position, and expansion plans.
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Major players in the market include Nutrien, LTD., Yara International ASA, ICL Group Ltd., K+S AG, Sociedad Química y Minera de Chile (SQM), The Mosaic Company, EuroChem Group AG, CF Industries Holdings, Inc., Nufarm, and OCI Nitrogen.
Regional Overview:
The global Specialty Fertilizers market has been categorized on the basis of key geographical regions into North America, Asia Pacific, Europe, Latin America, and Middle East Africa. It evaluates the presence of the global Specialty Fertilizers market in the major regions with regards to market share, market size, revenue contribution, sales network and distribution channel, and other key elements.
Competitive Terrain:
The Global Specialty Fertilizers Market is highly consolidated due to the presence of a large number of companies across this industry. The report discusses the current market standing of these companies, their past performances, demand and supply graph, production and consumption patterns, sales network, distribution channels, and growth opportunities in the market at length. The report scrutinizes the strategic approach of key market players towards expanding their product offerings and fortifying their market foothold.
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Some Key Highlights from the Report
- In February 2020, ICL, which is a leading special chemicals and specialty minerals company announced the acquisition of Growers Holdings, Inc., which is an innovator in the field of process and data-driven farming. With this acquisition, ICL will further enhance its digital service offering and accelerate its global development road map.
- Water-soluble fertilizers segment accounted for largest revenue share in 2020. Farmers are increasingly adopting highly water-soluble fertilizers as these enable enhancement of yield and quality parameters of crops and eliminate problems such as nutrient fixation in soil, immobilization of nutrients, and volatilization loss nutrient like nitrogen.
- Fruits and vegetables segment revenue is expected to expand at a rapid CAGR during the forecast period. Specialty fertilizers such as micronutrient fertilizers are increasingly being utilized to enhance quality and quantity of organic fruits and vegetables.
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Emergen Research has segmented the global specialty fertilizers market on the basis of type, crop type, and region:
Type Outlook (Revenue, USD Billion; 2018–2028)
- Micronutrient Fertilizers
- Slow Release Fertilizers
- Controlled Release Fertilizers
- Customized Fertilizers
- Water-soluble Fertilizers
- Others
Crop Type Outlook (Revenue, USD Billion; 2018–2028)
- Pulses and Oilseeds
- Grains and Cereals
- Commercial Crops
- Fruits and Vegetables
- Others
Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Spain
- Norway
- Switzerland
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of MEA
Report Highlights:
- The report conducts a comparative assessment of the leading market players participating in the global Specialty Fertilizers market.
- The report marks the notable developments that have recently taken place in the Specialty Fertilizers industry
- It details on the strategic initiatives undertaken by the market competitors for business expansion.
- It closely examines the micro- and macro-economic growth indicators, as well as the essential elements of the Specialty Fertilizers market value chain.
- The repot further jots down the major growth prospects for the emerging market players in the leading regions of the market.
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