Vancouver, Oct. 03, 2023 (GLOBE NEWSWIRE) -- The global Specialty Fertilizers Market size is expected to reach USD 75.02 Billion in 2032 and register a steady CAGR over the forecast period, according to latest analysis by Emergen Research. This steady market revenue growth can be attributed to rising adoption of precision farming for improved farming procedures, more cost-efficient farming, rising global food demand, and focus on attaining higher crop quality and yields. Rising need to provide the right dosage of nutrients to crops is increasing utilization of precision farming techniques and driving revenue growth of the global specialty fertilizers market. Rising need to optimize fertilizer use efficiency is resulting in increasing application of specialty fertilizers in precision farming techniques. Increasing government initiatives such as subsidies to promote the usage of specialty fertilizers expected to drive market growth during the forecast period. Rising awareness among farmers regarding the benefits of specialty fertilizers is increasing its demand across the world. Health-benefits provided by organic fruits and vegetables are resulting in its growing demand. Specialty fertilizers such as micronutrient fertilizers are increasingly utilized to enhance the quality and quantity of organic fruits and vegetables.
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Increasing adoption of organic fertilizers for improvement of soil texture is expected to hamper demand for specialty fertilizers during the forecast period. Moreover, high cost of specialty fertilizer is another factor restricting its usage in some developing countries.
Scope of Research
| Report Details | Outcome |
| Market size in 2020 | USD 36.45 Billion |
| CAGR (2021–2032) | 6.2% |
| Revenue forecast in 2032 | USD 75.02 Billion |
| Base year for estimation | 2020 |
| Historical data | 2018–2019 |
| Forecast period | 2021–2032 |
| Quantitative units | Revenue in Billion, revenue share (%) and CAGR (%) |
| Report coverage | Revenue forecast, company ranking, competitive landscape, growth factors, and trends |
| Segments covered | Type, Crop type, and region |
| Regional scope | North America; Europe; Asia Pacific; Latin America; Middle East & Africa |
| Country scope | U.S., Canada, Mexico, Germany, France, U.K., BENELUX, Italy, Spain, Norway, Switzerland, Netherlands, Rest of Europe, China, Japan, South Korea, India, Australia, Rest of APAC, Brazil, Rest of LATAM, Saudi Arabia, UAE, Israel, South Africa, Rest of MEA |
| Key companies profiled | Nutrien, LTD., Yara International ASA, ICL Group Ltd., K+S AG, Sociedad Química y Minera de Chile (SQM), The Mosaic Company, EuroChem Group AG, CF Industries Holdings, Inc., Nufarm and OCI Nitrogen |
| Customization scope | 10 hours of free customization and expert consultation |
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MAJOR COMPANIES and Competitive Landscape
The global specialty fertilizers market is consolidated with a limited number of players accounting for majority market revenue. Companies are focusing on strategic expansions into untapped markets and on research and development initiatives to develop new and enhanced specialty fertilizers in order to secure and maintain a robust position in the rapidly growing market. Some prominent players operating in the specialty fertilizers market are:
- Nutrien, LTD.
- Yara International ASA
- ICL Group Ltd.
- K+S AG
- Sociedad Química y Minera de Chile (SQM)
- The Mosaic Company
- EuroChem Group AG
- CF Industries Holdings, Inc.
- Nufarm
- OCI Nitrogen
Strategic development
In January 2021, ICL, which is a leading specialty chemicals and specialty minerals company, announced the complete acquisition of Fertiláqua, which is a leading specialty plant nutrition company in Brazil. ICL is expected to strengthen the position of Fertiláqua and support the company in increasing its sales of organic fertilizers, controlled-released fertilizers, and other specialty plant nutrition products in the market in Brazil.
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Some Key Highlights From the Report
- In January 2020, Nutrien Ltd., announced its agreement to purchase 100% of equity of Brazilian Agrosema Comercial Agricola Ltd. The acquisition is expected to strengthen the position the company and help in building its AG retail business in the growing Brazilian agricultural market. The company is planning to expand operations in Brazil in the coming years thorough the acquisition and expansion of service and product offerings.
- Water-soluble fertilizers segment accounted for largest revenue share in 2020. Efficiency of water-soluble fertilizers in enhancing the quality and quantity of crop yields is driving its demand among an increasing customer base of medium-scale farmers.
- Fruits and vegetables segment revenue is expected to expand at a rapid CAGR during the forecast period. Increasing exports of fruits and vegetables have been driving rising demand for specialty fertilizers in order to increase crop production and quality.
- Asia Pacific accounted for largest revenue share contribution to the global specialty fertilizers market in 2020. Government support such as subsidies to promote the usage of specialty fertilizers is expected to continue to fuel utilization of specialty fertilizers in countries in the region.
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Emergen Research has segmented the global specialty fertilizers market on the basis of type, crop type, and region:
- Type Outlook (Revenue, USD Billion; 2018–2028)
- Micronutrient Fertilizers
- Slow Release Fertilizers
- Controlled Release Fertilizers
- Customized Fertilizers
- Water-soluble Fertilizers
- Others
- Crop type Outlook (Revenue, USD Billion; 2018–2028)
- Pulses and Oilseeds
- Grains and Cereals
- Commercial Crops
- Fruits and Vegetables
- Others
- Regional Outlook (Revenue, USD Billion; 2018–2028)
- North America
- U.S.
- Canada
- Mexico
- Europe
- Germany
- France
- U.K.
- BENELUX
- Italy
- Spain
- Norway
- Switzerland
- Netherlands
- Rest of Europe
- Asia Pacific
- China
- Japan
- South Korea
- India
- Australia
- Rest of APAC
- Latin America
- Brazil
- Rest of LATAM
- Middle East & Africa
- Saudi Arabia
- UAE
- Israel
- South Africa
- Rest of MEA
- North America
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About Emergen Research
Emergen Research is a market research and consulting company that provides syndicated research reports, customized research reports, and consulting services. Our solutions purely focus on your purpose to locate, target, and analyze consumer behavior shifts across demographics, across industries, and help clients to make smarter business decisions. We offer market intelligence studies ensuring relevant and fact-based research across multiple industries, including Healthcare, Touch Points, Chemicals, Types, and Energy. We consistently update our research offerings to ensure our clients are aware of the latest trends existent in the market. Emergen Research has a strong base of experienced analysts from varied areas of expertise. Our industry experience and ability to develop a concrete solution to any research problems provides our clients with the ability to secure an edge over their respective competitors. For more information, visit
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