Specialty Fertilizers Market - Global Industry Size, Share, Trends, Competition, Opportunity and For

by Mack Nene Primary & Secondry Data Consultation

The global specialty fertilizers market is expected to show robust growth with an impressive CAGR in the forecast years 2022-2026, on account of increasing demand for the higher yields of crops. The advancing agriculture sector is further supporting the growth of the global specialty fertilizers market in the upcoming five years.

Specialty fertilizers are compounds that are applied instead of general chemical fertilizers at the special conditioning of the soils and plants. These specialized fertilizers enhance yields of the crops meanwhile preventing the toxification of soil due to over-fertilization. The requisite amount of nutrients to crops is important to be maintained. Lack of awareness and concerns regarding the nutrient supply has opened up the scope of specialty fertilizers.

Demands for High Yielding Crops Drive Market Growth

Rapidly increasing population of the world is a major reason behind the prosperous growth of the global specialty fertilizers market in the upcoming five years. Also, the increasing demand for higher-yielding crops is further supporting the growth of the global specialty fertilizer market in the next five years. The global population has already reached over 8 billion by the end of year 2021.

Demand to feed the world's increasing population is driving the market for specialty fertilizers. Utilizing high-end fertilizer is costly and farmers with lower income fail to adopt such products and practices. With increasing usage of specialty fertilizers, the farmers can manage their investments for their fields and thus anticipate the growth of the market in future five years.

Demand for Favorable Fertilizers Support Market Growth

The utilization of fertilizers for increasing the yield is a conventional agricultural practice. However, excessive utilization of fertilizers causes toxin generation. The bioaccumulation process is the dangerous outcome of excessive utilization of fertilizers that causes the ultimate demise of beings. Fertilizers that are excess in the soil also end up in the ecosystem of marine animals.

Bioaccumulation in marine animals causes toxicity to rise due to which fishes, mollusks die. Thus, the demand for organic products and specialty fertilizers is further increasing and supporting the growth of the global specialty fertilizers market in the future five years.

Surging Demand for Organic & Efficient Products Substantiate Market Growth

Farmers are demanding more effective and efficient products like specialty fertilizers to enhance their crop growth and protect their crops from environmental harm. These demands are further supporting the growth of the global specialty fertilizers market in the next five years. Fertilizer concentration in cereals and grains causes depleting the quality of the food, thus reporting animal food poisoning cases. Demands for healthier fodder are driving the growth of the global specialty fertilizer market in the upcoming five years.

Also, chemical fertilizers and their excessive usage is increasing conditions of leaching, eutrophication, contamination, and residual effects in the crops. The demand for the switch of fertilizers from chemical fertilizers to specialty fertilizers is aiding the growth of the global specialty fertilizers market in the forecast years until 2026.

The global specialty fertilizers market is segmented on the basis of crop type, form, mode of application, technology, competitional landscape, and regional distribution. Based on crop type, the market is further fragmented into cereals & grains, oilseeds & pulses, fruits & vegetables, turf & ornamentals, and others. Cereals & grains are anticipated to hold the largest revenue shares of the market and dominate the market segment in the upcoming five years on the grounds of increasing demands for food crops.

The rapidly increasing global population is further aiding the growth of the global specialty fertilizers market in the next five years. Moreover, exportation of cereals and grains to the developing countries is increasing. Various developing countries are struggling due to scarcity of food and thus import cereals and grains from the major economies. Increasing instances of import-export of cereal and grains further substantiate the market growth.

Turf & ornamental crops are expected to register significant growth in the next five years owing to the increasing demand for such plants from urban developments. Increasing demand for indoor farming is further aiding the growth of the sub-segment as well as the growth of the global specialty fertilizers market in the forecast years.

Market Segmentation

The global specialty fertilizers market is segmented on the basis of crop type, form, mode of application, technology, competitional landscape, and regional distribution. Based on crop type, the market is further fragmented into cereals & grains, oilseeds & pulses, fruits & vegetables, turf & ornamentals, and others. On the basis of form, the market is divided between dry and liquid form. Based on the mode of application, the market is again divided between foliar, fertigation, and soil applications.

Based on technology, the market is segmented into slow-release, N-stabilizers, coated & encapsulated, chelated, others. The market analysis also studies the regional segmentation to devise regional market segmentation, divided among Asia-Pacific region, North American region, European region, South American region, and the Middle East & African region.

Company Profiles

Nutrien, Ltd., Yara International ASA, Israel Chemical Ltd., K+S Aktiengesellschaft, The Mosaic Company, CF Industries Holdings, Inc., EuroChem Group, Deepak Fertilizers & Petrochemicals Corporation Ltd., Coromandel International Ltd, Plant Food Company, Inc., Haifa Group, OCP Group, OCI Nitrogen, Wilbur-Ellis Company Inc., COMPO Expert GmbH, are among the major market players in the global platform that lead the market growth of the global specialty fertilizers market.

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