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Specialty Fertilizers Market Share Worth US$ 47.0 Billion by 2027 - New Research Report by IndustryARC

Specialty Fertilizers Market

Market Research Reports, Business Consulting Services & Analytics

the increasing production and development in the agricultural sector is driving the Specialty Fertilizer Market

HYDERABAD, TELANGANA, INDIA, September 30, 2022 / -- IndustryARC, in its latest report, predicts that The Specialty Fertilizers Market size is projected to reach US$47.0 billion by 2027, growing at a CAGR of 6.7% during the forecast period 2022-2027. Fertilizers play a significant role and are considered one of the key components in crop production. The imbalanced usage of fertilizers can cause a nutrient deficiency in crops, a decrease in productivity and lower crop yield. Thus, the demand and utilization of specialty fertilizers have increased to improve the quality of crops and enhance nutrient efficiency by providing micronutrients. The report offers a complete analysis of the market, its major segments, growth factors, trends, drivers and challengers, key players and more.

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Key takeaways :

This IndustryARC report on the Specialty Fertilizers Market highlights the following areas -

1. The significant increase in demand for slow-release fertilizers owing to their extended bioavailability is expected to provide a significant growth opportunity to increase the Specialty Fertilizers market size in coming years.

2. The significant demand for cereals and grains is driving the growth of the Specialty Fertilizers market. According to the Ministry of Agriculture of India, the production of rice accounted for 102.36 million tonnes in 2020-2021.

3. Specialty Fertilizers are water-soluble fertilizers and can be used in a wide range of crops owing to their micronutrient-providing capability which offers ample growth opportunities for the industry players in near future in the Specialty Fertilizers industry.

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Segmental Analysis :

1. The slow-release fertilizers segment is expected to grow at the fastest CAGR of 7.9% during the forecast period in the Specialty Fertilizers Market. Most of the slow-release fertilizers are customized, considering the surface area of fertilizer material and can be utilized during fertigation. These are mainly suitable for nitrogenous fertilizers and can be divided into natural and artificial slow-release fertilizers.

2. Asia-Pacific held the largest share of 42% in the Specialty Fertilizers market in 2021. This growth is mainly attributed to the increase in demand for specialty fertilizer in cereals and grains, oilseeds and pulses, fruits and vegetables and turn and ornamental plants.

3. The cereals and grains segment held the largest share of over 40% in the Specialty Fertilizers Market in 2021. Cereals and grains are considered the primary source of nutrients supplied to the human body. Many developing countries are dependent upon cereals and grains for their nutritional needs and it is the major source of calories.

Competitive Landscape :

The top 5 players in the Specialty Fertilizers Industry are -

1. ICL Fertilizers
2. Nutrien Ltd.
3. Yara International ASA
4. Mosaic
5. Haifa Negev technologies LTD

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Related Reports :

A. Fertilizers Market

B. Organic Fertilizers Market

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