Press release
Specialty Fertilizers Market: How will COVID-19 Affects Agriculture Industry?
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Some of the major companies that are present in the global specialty fertilizers include
Mosaic Company
Israel Chemical Limited
Yara International ASA
Behn Meyer Group
Potash Corporation of Saskatchewan Inc.
Haifa Chemicals
Sociedad Quimica Y Minera S.A. and other players.
Research and Development by Key Players to Benefit Global Market
Specialty fertilizers are one of the most widely used agricultural product around the globe due to its efficacy of increased crop yielding and efficient management of nutrient supply to the plants. Specialty fertilizers are also commonly known as modified fertilizers due to the ability to enhance efficient crop yields. Specialty fertilizers are different from other fertilizers and hence gives a higher premium to producers over conventional fertilizers.
Destructive nature of conventional fertilizers on the environment has forced the key players to make strategies policies to remain in the competition. Key players have expanded their R&D investments towards the development of innovative and advanced products such as water-soluble fertilizers and coated fertilizers with improved nutrients efficacy. The rising R&D investments by key players and rapid shift from conventional to specialty fertilizers are propelling the growth of the specialty Fertilizers market.
Technically Advanced Agricultural Materials to Drive Market
Increasing demand for technically advanced agricultural materials along with new innovate techniques for crop yielding to meet the need of the growing population is propelling high growth rate for the specialty fertilizers market during the forecast period. Rising focus on organic farming, cost-effective application and high demand for increased nutrient use efficacy are some of the prime factors boosting the specialty fertilizers market.
Periodic action in specialty fertilizers to speed up the growth of the seasonal crop, which in turn is predicted to propel the growth of specialty fertilizers market in the forthcoming year. Nevertheless, low acceptance of specialty fertilizers in conventional agriculture along with limited awareness is predicted to hamper the growth of specialty fertilizers market.
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Major Segments includes:
By Product Type
Controlled-release Fertilizers
Water-soluble Fertilizers
Micronutrients
Customized Fertilizers
Other Product Types
By Ingredient
Ammonium Nitrate
Urea
UAN
Monoammonium Phosphate
Potassium Sulfate
Potassium Chloride
Other Ingredient Types
By Form
Granular
Powder
Liquid
By Crop Type
Cereals
Oilseeds
Fruits & Vegetables
Turf & Ornamentals
Other Crops
By Geography
North America to Remain Dominant in The Global Market
Geographically, the global specialty fertilizers market is segmented into North America, Europe, Asia-Pacific, Latin America, middle east &Africa. North America is predicted to dominate the global specialty fertilizers market during the forecast period, owing to the existence of advanced &research and technology labs in the region along with increased adoption advanced farming methods and products by farmers. The Asia Pacific is predicted to account for considerable growth during the forecast period due to the rising demand for food in the region, along with the rising population in emerging economies such as India and China to aid in market growth.
The rising incidence of crop-induced diseases, the inclination of people towards healthy eating lifestyle and growing purchasing power of consumers are some of the prime factors that are predicted to drive the growth of specialty fertilizers market in the Asia Pacific. The growing number of specialty fertilizer producers and distributors across Asian countries such as India and China are also likely to contribute effectively to the growth of the region.
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Biofertilizers are living microorganisms which provide nutrients to the crops through nitrogen fixation and phosphorous solubilization processes. They also assist in maintaining the quality of the soil and promoting sustainable agriculture. The various types of biofertilizers include, nitrogen fixing biofertilizers, phosphate solubilizing biofertilizer, plant growth promoting Rhizobacteria, and biofertilizers for micronutrients. They are cost effective and are a renewable source of plant nutrients. Concerns for sustainable agricultural land has…
