Middle East and Africa Specialty Fertilizers Market was worth USD 1.56 billion in 2021 and estimated to be growing at a CAGR of 7.3%, to reach USD 2.22 billion by 2026.
Specialty Fertilizers are granular fertilizer particles that regulate the moisture content, while providing plants with nutrients that can be released over a duration of time. The duration may last as long as several months if the need arises. Specialty fertilizers contribute to advanced fertilizer management programs and to innovative farming systems. The demand for these fertilizers is on a surge because of the advantages they provide over the conventional fertilizers. They help reduce the environmental effects which conventional fertilizers pose to the earth.
Specialty Fertilizers produces more compact plants that require less utilization of growth regulators. Whereas with conventional fertilizers, the risk of loss is high due to solubility of nutrients, specialty fertilizers have it in surplus quantity. Specialty Fertilizers reduces the loss of nutrients, especially nitrates and loss of ammonia due to evaporation which subsequently decreases the risk of environmental pollution. The demand for these fertilizers is fast rising because of all the advantages they provide over the traditional fertilizers. They help reduce the environmental effects that traditional fertilizers pose to the earth.
Middle East and Africa Specialty Fertilizers Market Drivers:
The Middle East and Africa Specialty Fertilizers market is driven by the increasing private investments and venture funding prevalent in the region. The market is a hub for new private ventures due to the scope for development there. This along with the region’s growing population and thereby the high food demand paves the way for the use of specialty fertilizers in agriculture. As for the challenges faced by the market, the region is not financially rich and consumers find it difficult to bear the brunt of expensive specialty fertilizers.
Middle East and Africa Specialty Fertilizers Market – By Action:
Middle East and Africa Specialty Fertilizers Market – By Product Types:
Middle East and Africa Specialty Fertilizers Market – By Application:
Based on geography, the Middle East and Africa market is divided into Algeria, Bahrain, Egypt, Kuwait, Qatar, Saudi Arabia, UAE and many others. The region has the smallest market share as well as a low CAGR rate of just above 7.2% compared to the global average.
Some of the major companies dominating the market, by their products and services include Sociedad Quimica y Minera S.A (Chile), Haifa Chemicals (Israel), Sinochem Group (China), Vardhaman Fertilizers and Seeds (India), Sungro Seeds (India), The Mosaic Company (USA), Verdesian Life Sciences (US), Agrium (Canada), Potash Corporation of Saskatchewan (Canada) and Yara International (Norway).
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