Specialty Fertilizers Market Outlook
Specialty Fertilizers Market Size is expected to reach USD 52.67 Billion at a CAGR 6.23% during the forecast 2022–2030.
The growing demand for high yielding and high quality worldwide is rising the demand of the specialty fertilizers market. Specialty fertilizers are specialized fertilizers provided to the soil as plant nutrition. The effective nature of these fertilizers results in quality crops and increases the volume of crops compared to normal yielded crops. The specialty fertilizers act as a nutrition booster for the plants, which boosts the growth and quality of the crop.
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The growth of the market is driven by the increasing demand for high-yielding crops, the growing awareness of the benefits of using specialty fertilizers, and the rising adoption of precision agriculture.
The increasing demand for high-yielding crops is one of the major drivers of the specialty fertilizers market. Farmers are increasingly adopting high-yielding varieties of crops, which require more nutrients. Specialty fertilizers can help to meet the nutrient requirements of these crops and improve yields.
The growing awareness of the benefits of using specialty fertilizers is another major driver of the market. Specialty fertilizers can help to improve crop yields, increase nutrient uptake, and reduce environmental impact. This is leading to increased demand for specialty fertilizers from farmers and growers.
The rising adoption of precision agriculture is also driving the growth of the market. Precision agriculture is a farming practice that uses technology to manage crops more efficiently. This includes using specialty fertilizers to target specific areas of the field that need nutrients.
The global specialty fertilizers market Size is segmented by type, crop type, and region. By type, the market is segmented into controlled-release fertilizers, water-soluble fertilizers, and biofertilizers. Controlled-release fertilizers are the largest segment of the market, followed by water-soluble fertilizers and biofertilizers. By crop type, the market is segmented into row crops, fruits and vegetables, and turf and ornamentals. Row crops are the largest segment of the market, followed by fruits and vegetables and turf and ornamentals. By region, the market is segmented into North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. North America is the largest market for specialty fertilizers, followed by Europe and Asia Pacific.
The specialty fertilizers market is highly competitive, with a number of major players operating in the market. Some of the major players in the market include Yara International, The Mosaic Company, Nutrien, and BASF.
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However, arable land is limited and consistently decreasing too.
Coupled with changes to the environment that pollution has caused, there is a strong requirement for measures that can increase the efficiency or yield of limited arable land.
Specialty fertilizers help soil to overcome deficiencies and attain greater fertility, and their adoption is on the rise.Global Demand for Specialty Fertilizers to Increment at 5.7% CAGR during 2017-2025A recent business intelligence report developed at Transparency Market Research (TMR) has projected that the demand in the global specialty fertilizers market will expand at a notable CAGR of 5.7% during the forecast period of 2017 to 2025.
Grab an exclusive PDF sample of this report hereThe analyst of the report has highlighted a vendor landscape wherein the global specialty fertilizers market shares are fairly consolidated among a handful of major players.
Major companies such as Coromandel International Limited, Haifa Chemicals Limited, Yara International ASA, The Potash Corporation of Saskatchewan Inc., Sociedad Quimica Y Minera S.A., Agrium Inc., and Israel Chemical Limited boast of their expansive geographical presence and are consistently improving their product portfolio to stay ahead of the curve.
Most of these players are eyeing emerging economies in Asia Pacific that are prospering on economic growth and have a strong agriculture community.Based on product type, the TMR report has segmented the specialty fertilizers market into micro nutrient fertilizers, nitrification and urea inhibitors, controlled release fertilizers, and slow release fertilizers.Is something restraining your company’s growth in the Specialty Fertilizers Market market?
However, arable land is limited and consistently decreasing too.
Coupled with changes to the environment that pollution has caused, there is a strong requirement for measures that can increase the efficiency or yield of limited arable land.
Specialty fertilizers help soil to overcome deficiencies and attain greater fertility, and their adoption is on the rise.
Take a detailed overview - https://www.transparencymarketresearch.com/specialty-fertilizers-market.htmlGlobal Demand for Specialty Fertilizers to Increment at 5.7% CAGR during 2017-2025A recent business intelligence report developed at Transparency Market Research (TMR) has projected that the demand in the global specialty fertilizers market will expand at a notable CAGR of 5.7% during the forecast period of 2017 to 2025.
In terms of revenue, the analyst of the report has estimated the market to attain a value of US$14,734.4 million, substantially more than the market’s evaluated worth of US$8,987.3 million as of 2016.The analyst of the report has highlighted a vendor landscape wherein the global specialty fertilizers market shares are fairly consolidated among a handful of major players.
Major companies such as Coromandel International Limited, Haifa Chemicals Limited, Yara International ASA, The Potash Corporation of Saskatchewan Inc., Sociedad Quimica Y Minera S.A., Agrium Inc., and Israel Chemical Limited boast of their expansive geographical presence and are consistently improving their product portfolio to stay ahead of the curve.
