Dublin, March 07, 2024 (GLOBE NEWSWIRE) -- The "United States Specialty Fertilizer - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2030" report has been added to ResearchAndMarkets.com's offering.
The United States Specialty Fertilizer Market size is estimated at USD 6.72 billion in 2024, and is expected to reach USD 9.17 billion by 2030, growing at a CAGR of 5.32% during the forecast period (2024-2030).
Key Highlights
- Largest segment by Speciality Type - Liquid Fertilizer : The demand for liquid fertilizer in the country has been increasing, due to their ease of application with improved nutrient absorption of by the plants due to their form.
- Fastest growing by Speciality Type - SRF : The SRF are safe to the soil and environment as they precisely release the nutrients in to the soil throughout the cropping season and thus reduce the leaching of nutrients.
- Largest Segment by Crop Type - Turf & Ornamental : Turf and ornamental crops occupy a significant share of the United States and the number of laws and golf courses in the country are increasingly high which need nutrients.
- Largest segment by Application Mode - Fertigation : Fertigation has numerous advantages, like increased fertilizer absorption, reduced waste and nutrient loss, reduced labor costs, and ease of fertilizer application.
Liquid Fertilizer is the largest segment by Speciality Type.
- The US specialty fertilizer market grew by 47.33% during the study period due to its potential and improved market opportunities.
- In 2021, liquid fertilizers, water-soluble fertilizers, and CRF dominated the market by 18.4%, 17.05%, and 6.68%, respectively. The liquid fertilizers segment in the country grew notably by 25.46% during the study period. The high adoption of precision farming, the ease of application, and the availability of wagons are anticipated to drive the segment's growth during the forecast period.
- The demand for water-soluble fertilizers is driven by the wide range of nutrient grades and different methods of application available for water-soluble fertilizers, such as foliar, fertigation, and soil application, depending on the requirements. Water-soluble fertilizers accounted for a growth of 24.96% during the study period.
- The developing micro-irrigation system in the country is also anticipated to boost segment growth. In 2017, the total irrigated cropland accounted for 58 million acres, and due to the even distribution of liquid fertilizers, the nutrient availability was high, resulting in increased efficiency of nutrient supplementation.
- Hence, the increased governmental focus on reducing the environmental impact of the over-accumulation of conventional fertilizers, coupled with increased technological and scientific advancements, is anticipated to drive the market during the forecast period.
US Specialty Fertilizer Industry Overview
The United States Specialty Fertilizer Market is moderately consolidated, with the top five companies occupying 47.40%. The major players in this market are CF Industries Holdings, Inc., Koch Industries Inc., Sociedad Quimica y Minera de Chile SA, The Mosaic Co. and Yara International ASA (sorted alphabetically).
A selection of companies mentioned in this report includes
- CF Industries Holdings, Inc.
- Haifa Group Ltd
- ICL Fertilizers
- Koch Industries Inc.
- Nutrien Ltd.
- Sociedad Quimica y Minera de Chile SA
- The Andersons Inc.,
- The Mosaic Co.
- Wilbur-Ellis Company LLC
- Yara International ASA
For more information about this report visit https://www.researchandmarkets.com/r/tqckc8
About ResearchAndMarkets.com
ResearchAndMarkets.com is the world's leading source for international market research reports and market data. We provide you with the latest data on international and regional markets, key industries, the top companies, new products and the latest trends.
Attachment
