Pune, India, May 03, 2023 (GLOBE NEWSWIRE) -- The global specialty fertilizers market size is set to gain impetus from the urgent need to support the growth of a wide range of crops and plants by using effective fertilizers. This information is given by Fortune Business Insights™ in a new report, titled, “Specialty Fertilizers Market Size, Share & COVID-19 Impact Analysis, and Regional Forecasts, 2020-2027.” The report further states that the market size was USD 24.26 billion in 2019. It is projected to reach USD 39.37 billion in 2027, thereby exhibiting a CAGR of 6.8% in the forecast period.
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List of the Leading Companies Profiled in the Global Specialty Fertilizers Market are:
- The Mosaic Company (Florida, United States)
- Nutrien Ltd. (Saskatoon, Canada)
- ICL (Tel-Aviv Yafo, Israel)
- Yara International ASA (Oslo, Norway)
- Haifa Chemicals Ltd. (Haifa, Israel)
- EuroChem Group AG (Switzerland)
- Coromandel International Limited (Secunderabad, India)
- Sociedad Química Y Minera De Chile (Chile)
- OCP Group (Casablanca, Morocco)
- Compo Expert GmbH (Germany)
Report Scope & Segmentation:
| Report Attribute | Details |
| Forecast Period | 2020-2027 |
| Forecast CAGR | 6.8% |
| 2027 Value Projection | USD 39.37 Billion |
| Market Size in 2020 | USD 24.85 Billion |
| Historical Data | 2016-2018 |
| No. of Pages | 130 |
| Report Coverage | Revenue Forecast, Company Profiles, Competitive Landscape, Growth Factors and Latest Trends |
| Segments Covered |
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| Regions Covered |
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| Specialty Fertilizers Market Growth Drivers | Rapidly Rising Global Population to Drive the Growth of the Market |
| Increasing Inclination towards Precision Farming Practices to Boost Growth |
Specialty fertilizers are fertilizers that are tailored to meet specific nutrient requirements of crops, soil conditions, or growing conditions. These fertilizers are designed to provide a targeted release of nutrients, improve nutrient availability, and enhance nutrient uptake by plants.
Specialty fertilizers are fertilizers that are formulated to meet specific nutrient requirements of particular crops, soil types, or growth conditions. These fertilizers contain a combination of nutrients that are tailored to the specific needs of plants, and they are often designed to be more efficient and effective than traditional fertilizers.
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https://www.fortunebusinessinsights.com/industry-reports/specialty-fertilizers-market-100527
How is This Report Developed?
We refer to secondary data sources, such as press releases of end-user facilities, investor presentations, annual reports, and industry journals to gather authentic information of the market. Our unique bottom-up approach helps in generating crucial data about the competitive landscape and recent industry developments, such as new product launches, collaborations, agreements, joint ventures, partnerships, contracts, and acquisitions. We also conduct extensive primary research to collect information about the current trends of the specialty fertilizers industry.
Drivers & Restraints-
Increasing Soil Contamination to Bolster Growth
The global population is surging day by day. It is therefore stressing the food security. Specialty fertilizers are tailor-made, concentrated, and highly efficient. They can easily improve crop yield by offering significant nutrients required by various plants. Apart from that, the surging soil contamination and declining arable land would propel the specialty fertilizers market growth in the upcoming years. However, the expensive nature of customized and micronutrient fertilizers may obstruct the demand for specialized fertilizers.
Segment-
Water-soluble Fertilizers Segment to Lead Fueled by Compatibility with New Technology
Based on the type, the water-soluble fertilizers (WSFs) segment is set to remain at the forefront throughout the forthcoming years. This growth is attributable to the low water requirements and effective usage with modern irrigation technology. The controlled-release fertilizers segment generated 10.34% in terms of the speciality fertilizers market share in 2019.
Regional Insights-
North America to Remain at the Forefront Stoked by High Demand from U.S. & Canada
Geographically, North America held USD 7.56 billion in terms of revenue in 2019. It is anticipated to retain its dominant position in the near future. The rising need to fulfil the nutritional requirements of plants in Canada and the U.S. would propel the demand for specialty fertilizers in the region.
Asia Pacific is anticipated to hold a substantial specialty fertilizers market share in the years to come. The region is expected to register a CAGR of 7.36% in the upcoming years. Governments of various countries are offering subsidies to promote the usage of specially formulated fertilizers. Coupled with this, the ongoing development in the agriculture sector, especially in India and China, would augment the demand for these fertilizers.
Competitive Landscape-
Key Players Focus on Acquisition Strategy to Compete in Global Market
The global market houses several prominent companies that are mainly aiming to compete with their rivals by focusing on the merger and acquisition strategy. A few others are participating in new product development to gain a competitive edge. Below are the two latest industry developments:
- October 2020: ICL signed an agreement for acquiring Fertiláqua by investing around USD 120 million. It would enhance the company’s customer base and broaden its portfolio of specialty plant nutrition.
- September 2018: Grupa Azoty purchased COMPO EXPERT. It would help the former to strengthen its position in the field of agricultural solutions for benefitting its customers.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Definitions and Assumptions
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview on the fertilizers Market
- Supply Chain Analysis
- Industry SWOT Analysis
- Recent Industry Developments - Policies, Mergers & Acquisitions, and
- New Product Launches
- Market Analysis and Insights (in Relation with COVID-19)
- Impact of COVID-19 on the Market
- Supply Chain Challenges due to the Pandemic
- Potential Opportunities Due to COVID-19
- Global Specialty Fertilizers Market Analysis, Insights and Forecast, 2016-2027
- Key Findings / Summary
- Market Size Estimates and Forecast
- By Type (Value)
- Controlled-release Fertilizers
- Water-soluble Fertilizers
- Agricultural Micronutrients
- Customized Fertilizers
- By Application Method (Value)
- Soil
- Foliar
- Fertigation
- By Crop Type (Value)
- Cereals
- Pulses & Oilseeds
- Fruits & Vegetables
- Turf & Ornamentals
- Others
- By Region (Value)
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
- By Type (Value)
TOC Continued…!
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Read Related Insights:
Specialty Fertilizers Market Size, Regional Forecast, 2020 – 2027
Water Soluble Fertilizer Market Size, Share Regional Forecasts, 2020 – 2027
Phosphatic Fertilizers Market Size, Share & Industry Analysis Regional Forecast, 2019-2026
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