Europe Specialty Fertilizers Market was worth USD 4.33 billion in 2021 and estimated to be growing at a CAGR of 7.32%, to reach USD 6.17 billion by 2026. Specialty Fertilizers serve as the ‘topdressing’ of the soil layer or are incorporated into the soil via soil mixing prior to seed sowing. The particles control the amount of moisture content and release nutrients that increase the uptake by the plants. They are used as adhesive to increase the amount of pesticide intake and serve as binding agents to prevent leaching.
Speciality fertilizers also help reduce the soil toxicity by lowering the ionic concentration. Controlled Release Fertilizers also help in soil regulation as they are coated fertilizers that release their nutrients over a specific period of time. This ensures an appropriate level of nutrients throughout the growing period.
Drivers and Restraints of Europe Specialty Fertilizers Market:
The major driver of the Europe Specialty Fertilizers market is the rising environmental concerns. Europe faces the problem of soil becoming unfit for cultivation due to a large number of growth cycles being conducted without giving appropriate time for the soil to regain its nutrients. Specialty Fertilizers help in this regard by giving the soil the appropriate quantity of nutrients to support cultivation.
Other drivers for the market include cost efficiency due to low wastage, reduced risk of fertilizer burn and lesser labour requirements. As for the factors hampering the growth of the market production complexities leads the fore. Compared to traditional fertilizers, they are harder to manufacture. Also lack of proper awareness about specialised fertilizers means that conventional fertilizers still dominate the major portion of the agriculture industry. Rival companies of conventional fertilizers additionally provide subsidies that attract customers away from specialty fertilizers.
Europe Specialty Fertilizers Market – By Action:
Europe Specialty Fertilizers Market – By Product Types:
Europe Specialty Fertilizers Market – By Application:
Based on geography, the Europe market is divided into Italy, France, U.K, Germany and Spain. The Europe Specialty Fertilizers Market in 2016 had the second highest market share. The region is also mostly developed and as such has a low CAGR rate of 7.32%.
Some of the major companies dominating the market, by their products and services include Yara International (Norway) which is native to Europe as well as other companies such as The Mosaic Company (USA), Verdesian Life Sciences (US), Agrium (Canada), Potash Corporation of Saskatchewan (Canada), Vardhaman Fertilizers and Seeds (India), Sungro Seeds (India), Sociedad Quimica y Minera S.A (Chile), Haifa Chemicals (Israel), Sinochem Group (China) which also operate in the region.
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