Market Size in 2023 | Market Forecast in 2032 | CAGR (in %) | Base Year |
---|---|---|---|
USD 25.69 Billion | USD 49.89 Billion | 6.9% | 2023 |
According to Zion Market Research, the global Specialty Fertilizers Market was worth USD 25.69 Billion in 2023. The market is forecast to reach USD 49.89 Billion by 2032, growing at a compound annual growth rate (CAGR) of 6.9% during the forecast period 2024-2032. The report offers a comprehensive analysis of the market, highlighting the factors that will determine growth, potential challenges, and opportunities that could emerge in the Specialty Fertilizers Market industry over the next decade.
The reduction in arable land for farming activities and the rise in the global population have resulted in a growing need for adopting specialized farming practices in recent years. One of the approaches for enhancing crop yield is to utilize specialized fertilizers in agriculture. Apparently, these products are applied to land & plants for improving the physiological processes of crops. Specialty fertilizers are fast gaining popularity across the globe and possess beneficial features.
Innovations in the crop nutrition sector along with a surge in research activities can exalt the growth of the specialty fertilizers market over the years ahead. Demand for efficient nutrition items will prompt the expansion of the specialty fertilizers industry size in the forthcoming years.
With technological breakthroughs in the farming sector and the need for efficient fertilizers to improve crop yield have resulted in the penetration of specialty fertilizers in farming across nooks and corner of the world.
However, the high cost of producing specialty fertilizers is anticipated to pose a threat to the growth of the specialty fertilizers market in the ensuing years. Nevertheless, nutritional deficiency and significant use of specialty nutrients will culminate in a humungous expansion of the specialty fertilizers market in the upcoming years.
Furthermore, the use of specialty fertilizers increases the nutritive quality of soil as well as its cultivability, thereby driving market trends. In addition to this, the massive need for specialty nutrients and the use of bulk fertilizers, fortified fertilizers, and micro-nutrient fertilizers to enhance crop output will translate into humungous growth of the specialty fertilizers industry over the forecast timeline.
Governments across the globe are focusing on reducing the cost of producing specialty fertilizers and retail prices, thereby facilitating the expansion of the specialty fertilizers market over the anticipated timeframe. The adoption of precision farming techniques will further embellish the market growth over the years to come. Easy access to cost-effective raw materials for product formation will proliferate the growth of the industry in the coming decade.
Report Attributes | Report Details |
---|---|
Report Name | Specialty Fertilizers Market |
Market Size in 2023 | USD 25.69 Billion |
Market Forecast in 2032 | USD 49.89 Billion |
Growth Rate | CAGR of 6.9% |
Number of Pages | 110 |
Key Companies Covered | The Mosaic Company, Yara International ASA, Nutrien, Ltd., EuroChem Group, K+S Aktiengesellschaft, Israel Chemical Ltd., and Sociedad Químicay Minera de Chile (SQM). |
Segments Covered | By Type, By Crop Type, By Form, By Application Method, By Technology and By Region |
Regions Covered | North America, Europe, Asia Pacific (APAC), Latin America, Middle East, and Africa (MEA) |
Base Year | 2023 |
Historical Year | 2018 to 2022 |
Forecast Year | 2024 - 2032 |
Customization Scope | Avail customized purchase options to meet your exact research needs. Request For Customization |
The expansion of the specialty fertilizers market in North America over 2019-2025 is attributed to rising in the acceptance of high-quality crop nutrition products in the sub-continent. In addition to this, humungous demand for effective fertilizers fulfilling the needs of plants nutritional in the agriculture sector in the countries like Canada and the U.S. will proliferate the scope of the specialty fertilizers industry over the forthcoming years.
Apart from this, growing awareness among the peasants about the availability of myriad kinds of specialty fertilizers will boost the rate of market growth in the sub-continent over the forecast timespan. Apparently, the large-scale presence of major players such as FMC Corporation and Nutrien Limited in the sub-continent will aid the expansion of the specialty fertilizers industry in North America in the years ahead.
Key participants profiled in the study include:
The global specialty fertilizers market is segmented as follows:
By Type
By Crop Type
By Form
By Application Method
By Technology
By Region
FrequentlyAsked Questions
Innovations in crop nutrition sector along with surge in the research activities can exalt the growth of specialty fertilizers market over the years ahead. Demand for efficient nutrition items will prompt the expansion of specialty fertilizers industry size in the forthcoming years. With technological breakthroughs in farming sector and need for efficient fertilizers to improve crop yield has resulted in the penetration of specialty fertilizers in farming across nook and corner of the world. Nutritional deficiency and significant use of specialty nutrients will culminate into humungous expansion of specialty fertilizers market in the upcoming years. Furthermore, the use of specialty fertilizers increases the nutritive quality of soil as well as its cultivability, thereby driving the market trends. In addition to this, massive need of specialty nutrients and use of bulk fertilizers, fortified fertilizers, and micro-nutrient fertilizers to enhance crop output will translate into humungous growth of specialty fertilizers industry over the forecast timeline.
According to Zion market research report, the global Specialty Fertilizers market, which accrued revenue worth $ 25.69 Billion in 2023 and anticipated to garner earnings about $ 49.89 Billion by 2032, is set to grow at a CAGR of nearly 6.9% during the period from 2024 to 2032.
North America is likely to make noteworthy contributions towards overall market revenue during 2019-2025. The growth of the Specialty Fertilizers Market in the region over forecast timespan can be credited to rise in the acceptance of high quality crop nutrition products in the sub-continent. In addition to this, humungous demand for effective fertilizers fulfilling the nutritional needs of plants in the agriculture sector in the countries like Canada and the U.S. will proliferate the scope of specialty fertilizers industry over the forthcoming years. Apart from this, growing awareness among the peasants about the availability of myriad kinds of specialty fertilizers will boost the rate of market growth in the sub-continent over the forecast timespan.
The key players profiled in the report include The Mosaic Company, Yara International ASA, Nutrien, Ltd., EuroChem Group, K+S Aktiengesellschaft, Israel Chemical Ltd., and Sociedad Químicay Minera de Chile (SQM).
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