Dublin, March 08, 2024 (GLOBE NEWSWIRE) -- The "North America Specialty Fertilizer - Market Share Analysis, Industry Trends & Statistics, Growth Forecasts 2016 - 2030" report has been added to ResearchAndMarkets.com's offering.
The latest report on the North America Specialty Fertilizer Market provides insight into market share analysis, industry trends, and statistics. Experts predict significant growth in the sector, with the market size estimated to increase from around USD 10.33 billion in 2024 to an expected USD 14.39 billion by 2030. This indicates a strong compound annual growth rate (CAGR) of 5.68%.
Liquid Fertilizer Dominates as the largest segment by Specialty Type in the market, with its vital role in maintaining soil pH and preventing nitrogen leaching, especially given the acidic soil nature prevalent in North American regions. As a cornerstone of advanced agriculture, liquid fertilizers have shown a substantial increase in demand.
SRF Emerges as Fastest Growing Segment, advocating a secure and environmentally friendly approach to soil nutrition. The capability of Slow-Release Fertilizers (SRF) to dispense nutrients precisely throughout the cropping season has highlighted its importance in the reduction of nutrient leaching, providing a significant growth trajectory.
Turf & Ornamental Leads Crop Type Segment, requiring year-round maintenance that specialty fertilizers facilitate. The trend reflects the need for ease of application and efficiency in fertilizer usage for these high-maintenance crops.
Market Trends and Drivers
- The integration of fertigation practices, leveraging well-developed irrigation systems, less labor, and shorter timeframes for uptake by plants, is fueling market growth.
- Precision agriculture advancements are catalyzing the demand for specialty fertilizers, with controlled-release and slow-release variants playing a pivotal role.
- Novel cultivation approaches like hydroponics and aquaponics are gaining traction, augmenting demand for water-soluble and liquid fertilizers.
- With a burgeoning population and diminishing arable land, the push for higher yields is set to spur market expansion.
The report underscores that the North America Specialty Fertilizer Market is moderately consolidated, with the leading players controlling a significant market fraction. As market intelligence indicates progressive strides within the industry, stakeholders anticipate a robust period of growth and innovation in specialty fertilizers in the North American region.
The findings and projections of this report lay the groundwork for understanding current market dynamics, the competitive landscape, and the potential for future developments, offering crucial insight to industry players, policymakers, and investors.
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/fjlrts
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