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Market OverviewSpecialty fertilizers are helping towards gaining better yields out of limited cultivable lands and meeting the rising food demands due to rising population. These fertilizers enhance agricultural productivity by improving overall plant fitness. The global specialty fertilizers market is expected to reach 06 % growth mark during the survey period. Specialty fertilizers are mixed with soils before plant sowing for controlling the moisture content and enhancing the release of vital nutrients.
These fertilizers have a cutting edge over the conventional fertilizers, and the demands for modern agriculture practices are thriving the market towards a better future. The use of specialty fertilizers increases farmer’s income and helps in procuring the increasing demands. The specialty fertilizers are now recognized worldwide because they are highly useful in improving the quality of agricultural produce.
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These fertilizers can reduce toxicity caused by high ionic concentrations. Also, they act as the binding agents and helps in improving the pesticide intakes. The global specialty fertilizers are facing problems from factors like limited usage in mainstream agricultural practices, growing interest in organic food items and higher relative costs are damaging the market’s growth meter. However, increasing demands for food due to rapid population surge and limited cultivable landmasses are driving the market out of the dark.
Key Players
Some of the key players profiled in the Global Specialty Fertilizers Market are Mosaic Company (U.S.), Agrium Inc. (Canada), Yara International (Norway), Haifa Chemicals (Israel), Atlantic Gold Corp (Canada), Art Wilson Co. (U.S.), Eurochem (Switzerland)
Recent Industry News
The global specialty fertilizers market is gaining instant popularity among the farmers because it increases the productivity that increases the revenue generation, to meet the increasing food demands and improving the food quality. Still, the factors like limited awareness and rising demand for organic items are challenging the market’s global growth. The Asia Pacific region is the largest and fastest-growing market and will stay at the top during the projected period. Companies are working towards spreading awareness among the masses, which is beneficial for the farmers and the market as well.
Market Segments
Global Specialty Fertilizers Market is segmented into two parts:
Types: Phosphate fertilizers, nitrogen fertilizers, potash fertilizers, slow-release fertilizers, controlled-release fertilizers and other types are available in the market.
Crop type: Commercial crops, pulses & oilseeds, grains & cereals, fruits & vegetables and other crop types make use of the specialty fertilizers.
Regional Market Summary
The global specialty fertilizers market is observed based on four major regions, namely America, Europe, Asia Pacific and The Middle East & Africa.
The Asia Pacific region is the current market leader and will maintain its stance during the survey period. Increasing population, demands for better food, vast agricultural & varying climatic conditions and needs of modern farm methods are some of the major factors propelling the market. The American region is in the second-largest market, followed by Europe. Both of these regions are also showing considerable growth rates owing to developing agriculture sectors, investments towards searching for new aspects of the market and demands for high-quality agricultural produce.
The Middle East & African region is the slowest market in terms of growth due to a lack of awareness about new products and lagging economic growths.
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Release ID: 88962022