Pune, March 09, 2020 (GLOBE NEWSWIRE) -- Market Overview : The global specialty fertilizers market size is projected to reach USD 38.66 billion by 2026, exhibiting a CAGR of 6.89% during the forecast period. High dependence on agriculture around the world will be a vital growth driver for this market, states the new Fortune Business Insights™ report, titled “Specialty Fertilizers Market Size, Share & Industry Analysis, By Type (Controlled-release Fertilizers, Water-soluble Fertilizers, Agricultural Micronutrients, and Customized Fertilizers), Application Method (Soil, Foliar, and Fertigation), Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Turf & Ornamentals), and Regional Forecasts, 2019 - 2026”.
According to the Food and Agriculture Organization (FAO) of the United Nations, nearly 45% of the global population (around 3.4 billion people) reside in rural areas. Of these, close to 26.7% are dependent on agriculture for their livelihoods, which aggravates the need for advanced farm products to increase yield and ensure profitability for farmers. The demand for specialized fertilizers is set to get bolstered by the rapid growth in the world’s population, one of the leading specialty fertilizers market trends. The World Bank notes that agricultural development needs to accelerate as the sector is expected to feed 9.7 billion people by 2050. Moreover, putting agriculture on a sustainable growth path will further augment the demand for advanced farming inputs.
According to the specialty fertilizers market report, the value of this market stood at USD 22.92 billion in 2018. In addition to this, the report provides the following information:
- Comprehensive assessment of the drivers and restraints shaping the size, share, and overall growth of the market;
- In-depth study of the individual market segments;
- Exhaustive analysis of the competitive landscape in terms of company profiles, leading players, and key strategies adopted by them; and
- Thorough research into the regional prospects for the market and evaluation of the regional drivers.
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Market Driver
Environmental Benefits of Specialty Fertilizers to Boost Their Adoption
Agricultural practices, especially in developing and underdeveloped countries, are known to be ecologically harmful. As a result, a new class of specialized fertilizers is gaining traction in agriculture called ‘controlled-release fertilizers’. These fertilizers are engineered in the form of capsules that are filled with nutrients such as nitrogen and phosphorous. They have an outer shell which stems the flow of water into the capsule as well as regulates the exit of end products out of the formulation.
A form of precision farming, controlled-release fertilizers are an ecologically more sensible way of farming as they prevent excess nutrient release into the soil, which can also contaminate the underlying water table. Manufacturers such as Haifa in Israel are tailoring their fertilizer products to suit specific crop needs, auguring well for the specialty fertilizers market growth.
List of Top Companies Profiled in Specialty Fertilizers Market Report are;
- Compo Expert GmbH (Germany)
- Sociedad Química Y Minera De Chile (Chile)
- EuroChem Group AG (Switzerland)
- Yara International ASA (Norway)
- Nutrien Ltd. (Canada)
- OCP Group (Morocco)
- Coromandel International Limited (India)
- Haifa Chemicals Ltd. (Israel)
- ICL (Israel)
- The Mosaic Company (United States)
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Regional Analysis
Active Adoption of Specialized Farm Inputs to Aid Market Expansion in North America
The North America market size stood at USD 7,148.9 million in 2018 and the region is expected to have a commanding hold on the specialty fertilizers market share in the forthcoming years. This is attributable to willing uptake of advanced agricultural inputs by farmers in the region along with a strong presence of global players.
The speciality fertilizers market forecast projects that the market in Asia-Pacific will rise at a CAGR of 7.9% during the forecast period as the region is home to two agriculture-dependent economies, India and China. The demand for specialized fertilizers is skyrocketing as governments in these countries are heavily subsidizing fertilizers to increase crop yield. In Europe the market is primarily driven by the increasing preference for organic food products, coupled with the demand for horticultural crops across the continent.
Competitive Landscape
Acquisition of Regional Companies in Emerging Economies to Characterize Market Competition
Key global players in specialty fertilizers industry are exploring avenues through which they can establish their presence in developing nations. One of the most preferred strategies undertaken by these companies is the acquisition of local and regional players in these countries.
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Detailed Table of Content:
- Introduction
- Research Scope
- Market Segmentation
- Research Methodology
- Executive Summary
- Market Dynamics
- Market Drivers
- Market Restraints
- Market Opportunities
- Key Insights
- Overview of the Parent Market
- Qualitative Analysis on Advantages of Specialty Fertilizers
- Regulatory Framework for Specialty Fertilizers
- Industry SWOT Analysis
- Recent Industry Developments: Policies, Partnerships, New Product
- Launches, and Mergers & Acquisitions
- Global Specialty Fertilizers Market Analysis, Insights and Forecast, 2015-2026
- Key Findings / Summary
- Market Analysis, Insights and Forecast – By Type
- Controlled-release Fertilizers
- Water-Soluble Fertilizers
- Agricultural Micronutrients
- Customized Fertilizers
- Market Analysis, Insights and Forecast – By Application Method
- Soil
- Foliar
- Fertigation
- Market Analysis, Insights and Forecast – By Crop Type
- Cereals
- Oilseeds & Pulses
- Fruits & Vegetables
- Turf & Ornamentals
- Others
- Market Analysis, Insights and Forecast – By Region
- North America
- Europe
- Asia Pacific
- South America
- Middle East & Africa
TOC Continued….!
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Industry Developments:
- January 2020: The Canadian fertilizer leader Nutrien Ltd. announced the purchase of 100% equity of the Brazil-based Agrosema Comercial Agricola Ltda. The acquisition would open the doors for Nutrien to tap the fledgling agriculture sector of Brazil and build its retail network in the country.
- June 2019: EuroChem Group, the Swiss fertilizer major, inaugurated its third fertilizer blending unit in Brazil. This move would accelerate EuroChem’s expansion in the country and strengthen its fertilizer distribution network through its subsidiary Fertilizantes Tocantins.
Have a Look at Related Market Insights:
Agricultural Micronutrients Market Size, Share & Industry Analysis, By Type (Zinc, Boron, Iron, Molybdenum, Manganese, and Others), Application Mode (Soil, Foliar, and Fertigation), Form (Chelated and Non-Chelated), Crop Type (Cereals, Pulses & Oilseeds, Fruits & Vegetables, and Others), and Regional Forecasts, 2019 – 2026
Water-Soluble Fertilizers Market Size, Share & Industry Analysis, By Type (Nitrogenous, Phosphatic, Potassic, and Others), By Application (Foliar and Fertigation), By Crop Type (Field Crop, Horticulture, Turf & Ornamentals, and Others), and Regional Forecasts, 2019 – 2026
Controlled release Fertilizers Market Size, Share & Industry Analysis, By Type (Slow-release, Coated & Encapsulated, and Nitrogen Stabilizers), Application (Cereals, Oilseeds & Pulses, Fruits & Vegetables, & Others), and Regional Forecasts, 2019 – 2026
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Agricultural Biologicals Market Size, Share and Industry Analysis By Type (Biopesticides, Biostimulants, and Biofertilizers), Source (Microbial and Biochemicals), Application Method (Foliar Spray, Soil Treatment, Seed Treatment, and Others), By Crops, and Regional Forecast 2019-2026
Biostimulants Market Size, Share and Industry Analysis By Source (Microbial and Non-microbial), By Active Ingredients (Seaweed Extracts, Humic Substances, Vitamins & Amino Acids, Microbial Amendments, and Others), By Application (Foliar Treatment, Soil Treatment, and Seed Treatment), By Crop (Row Crops, Fruits & Vegetables, Turf & Ornamentals), and Regional Forecast 2019-2026
Biofertilizers Market Size, Share and Industry Analysis By Type (Nitrogen Fixing, Phosphate Solubilizers, and Others), Microorganism (Rhizobium, Azotobacter, Azospirillum, Pseudomonas, Bacillus, VAM, and Others), Application (Seed Treatment, Soil Treatment, and Others), By Crop, and Regional Forecast, 2019-2026
Crop Protection Chemicals Market Size, Share and Industry Analysis By Product Type (Herbicides, Insecticides, Fungicides), Origin (Synthetic Chemicals, Bio-based) and Regional Forecast 2018-2025
Biopesticides Market Size, Share and Industry Analysis By Product Type (Bioinsecticides, Biofungicides, Bionematicides), Source (Microbials, Biochemicals), Mode of Application (Foliar Application, Seed Treatment, Soil Treatment), Crops (Cereals, Oilseeds, Fruits & Vegetables), and Regional Forecast 2018 - 2025
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