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Specialty Fertilizers Market By Action (Controlled-Release Fertilizers And Slow-Release Fertilizers), By Product Types (Phosphatic Fertilizers, Potassic Fertilizers And Nitrogenous Fertilizers), By Crops Application (Crop-Based Application And Non-Crop-Based Application), And By Region - Global Industry Analysis, Size, Share, Growth, Trends, And Forecast To 2027.

Published: January, 2022
ID: 2808
Pages: 175
Formats: report pdf report excel report power bi report ppt

Specialty Fertilizers Market Size & Growth (2022 - 2027):

The Specialty Fertilizers Market is expected to grow at an annual rate of 7.5% between 2022 - 2027. The market is expected to grow from 24 billion USD to 39 billion USD by 2026.

Specialty Fertilizers use small fertilizer particles that help to keep the soil moist and release fertilizer nutrients into the plants, allowing for healthy crop growth.

The increasing nutrient deficiency among plants is driving the market growth in the global Specialty Fertilizers Market. Leaching, runoff, and other types of nutrient losses have an extensive impact on plant development. Using specialty fertilizers is an easy and efficient method to supply the required amount of nutrients to plants regularly and prevent the harmful effects of over-fertilization on the soil.

Impact of COVID-19 on the Specialty Fertilizers Market:

The COVID-19 pandemic has impacted the global specialty fertilizers market, but the impact has been nominal compared to other markets. Due to no bans implemented on farming products, the pandemic caused various operational and supply chain issues. The delayed import and export of fertilizers due to the lockdown conditions and trade restrictions implemented to reduce the spread of the virus caused many difficulties for the market players. The limited supply inventory in companies due to the shutdown of manufacturing facilities caused supply shortages, which led to the increase in product rates, putting the market under great pressure during the pandemic. To guarantee food security and the normal progress of the market, governments in several countries issued notices to confirm the transportation and circulation of agricultural products. There is expected to be strong market growth owing to businesses and manufacturers resuming operations and adjusting to the new normal following social distancing and other COVID regulations.

Recent Developments:

  • In 2020, Nutrien Ltd. announced the complete acquisition of Ruralco Holdings Limited; the acquisition is expected to increase benefits and enhance product delivery.
  • In 2019, Yara International announced the release of YaraIrix, a precision farming tool that allows farmers to use their smartphones to measure Nitrogen requirements. 

Drivers and Restraints:

Drivers:

The increasing technological innovations due to extensive research and development are driving the growth of the global Specialty Fertilizers Market. The increased use of tailored fertilizer products to attend to specific nutritional needs of crops is increasing the trend of specialty fertilizers. The high demand for efficient nutrition products for crops and the increasing awareness about the benefits of using Specialty Fertilizers is helping with the market expansion in the global Specialty Fertilizers Market. The increased income of farmers in developed nations is increasing the affordability of farmers for expensive crop nutrition to produce quality crops, further boosting the market growth of the global Specialty Fertilizers Market. The rising world population and the increasing need for food security, and decreasing arable land due to rapid urbanization around the globe are increasing the need for smart fertilizers that can improve plant yield and promote growth even in adverse conditions, helping with the expansion of the global Specialty Fertilizers Market. The rising trend of precision farming and the availability of new effective Specialty Fertilizers are expected to further boost the market growth of the global Specialty Fertilizers Market.

Restraints:

The high cost of producing specialty fertilizers compared to conventional fertilizers due to the complex production processes required to manufacture specialty fertilizers leading to the high price of products which are more than four to six times higher than regular fertilizers are a major factor restraining the market growth of the global specialty fertilizers market. The introduction of new, better, and cost-effective fertilizers in the market is expected to hinder the growth of the global specialty fertilizers market. The lack of awareness among farmers in developing nations such as India, Pakistan, China, Indonesia, etc., is expected to restrain the market expansion of the global specialty fertilizers market.

SPECIALTY FERTILIZERS MARKET REPORT COVERAGE

REPORT METRIC

DETAILS

Market Size Available

2021 – 2026

Base Year

2020

Forecast Period

2022 - 2027

CAGR

7.5%

Segments Covered

By Type, By Crop Type, By Application

Various Analyses Covered

Global, Regional & Country Level Analysis, Segment-Level Analysis, DROC, PESTLE Analysis, Porter’s Five Forces Analysis, Competitive Landscape, Analyst Overview on Investment Opportunities

Regions Covered

North America, Europe, APAC, Latin America, Middle East & Africa

Market Leaders Profiled

Nutrien Ltd. COMPO Expert, Yara International ASA, Israel Chemical Ltd., SQM, The Mosaic Company, EuroChem Group, ICL, Haifa Chemicals Ltd., Coromandel International Limited, OCP Group, Compo Expert,

Market Segmentation:

Specialty Fertilizers Market - By Type:

  • Controlled Release Fertilizers

  • Slow-Release Fertilizers
  • Water-soluble Fertilizers
  • Micronutrient Fertilizers
  • Customized Fertilizers
  • Others

The Water-soluble Fertilizers segment is expected to dominate the market demand in the global specialty fertilizers market as they are efficient in increasing the quality and quantity of the crop yield. The customized fertilizers segment is expected to be the fastest-growing segment in the global specialty fertilizers market due to their ability to solve specific crop-related problems and help with their growth by providing required nutrients. In addition, the Micronutrient fertilizers segment is expected to grow at a high pace due to its extensive use in horticulture applications.

Specialty Fertilizers Market - By Crop Type:

  • Grains & Cereals
  • Pulses & Oilseeds
  • Commercial Crops
  • Fruits & Vegetables
  • Other Crop Types

The Grains & Cereals segment dominates the global specialty fertilizers market share as cereals are consumed as staples, leading to high demand for these crops. The fruits & vegetable segment is expected to be the fastest-growing segment in the global specialty fertilizers market due to the increasing health consciousness among people and the high nutritional value of consuming fruits & vegetables.

Specialty Fertilizers Market - By Application:

  • Soil
  • Foliar
  • Fertigation

Fertigation is expected to dominate the global specialty fertilizers market share due to rising innovation in irrigation technologies.

Regional analysis:

The specialty fertilizers market is divided by region into

  • North America
  • Asia-Pacific
  • Latin America
  • Europe
  • Middle East & Africa

The North American specialty fertilizers market is expected to dominate the global specialty fertilizers market share. The Europe specialty fertilizers market is expected to grow at a high pace due to the increase in spending of consumers and the demand for high-quality products in the region. The Asia-Pacific specialty fertilizers market is expected to be the fastest-growing market. This is mainly due to the presence of dominant agriculture countries in the region. The Latin America specialty fertilizers market is expected to grow at an annual rate of 8.6%. The Middle East and Africa specialty fertilizers market is expected to grow at a high pace due to increasing investments in the region.

Key players:

Major Key Players in the global specialty fertilizers market include

  • Nutrien Ltd.
  • COMPO Expert
  • Yara International ASA 
  • Israel Chemical Ltd. 
  • SQM
  • The Mosaic Company 
  • EuroChem Group
  • ICL
  • Haifa Chemicals Ltd.
  • Coromandel International Limited 
  • OCP Group
  • Compo Expert 

Leading company:

  • MPO Expert is the leading company in the global specialty fertilizers market.

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