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Specialty Fertilizers Market Report 2024-2033 | Size, Share Analysis
Specialty Fertilizers Market
The Business Research Company offers in-depth market insights through Specialty Fertilizers Global Market Report 2024, providing businesses with a competitive advantage by thoroughly analyzing the market structure, including estimates for numerous segments and sub-segments.
Market Size And Growth Forecast:
The specialty fertilizers market size has grown strongly in recent years. It will grow from $28.5 billion in 2023 to $30.6 billion in 2024 at a compound annual growth rate (CAGR) of 7.4%. The growth in the historic period can be attributed to crop yield optimization, soil health awareness, government support and subsidies, shift towards precision agriculture, expansion of horticulture and floriculture sectors, environmental sustainability concerns.
The specialty fertilizers market size is expected to see strong growth in the next few years. It will grow to $39.66 billion in 2028 at a compound annual growth rate (CAGR) of 6.7%. The growth in the forecast period can be attributed to population growth and food security challenges, emphasis on sustainable agriculture practices, climate change adaptation, rise in organic farming practices, market entry of new players. Major trends in the forecast period include investments in research and development, precision farming technologies, technological advancements in fertilizer production, rise in demand for controlled-release fertilizers, customized fertilizer blends.
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Market Segmentation:
The specialty fertilizers market covered in this report is segmented -
1) By Type: Controlled Release Fertilizers, Water Soluble Fertilizers, Agricultural Micronutrients, Customized Fertilizers
2) By Crop: Cereals, Pulses And Oil Seeds, Fruits And Vegetables, Trufs And Ornamentals, Other Crops
3) By Form: Dry, Liquid
4) By Technology: Slow-Release, N-Stabilizers, Coated And Encapsulated, Chelated
5) By Application: Soil, Foliar, Fertigation
Major Driver - Specialty Fertilizers Market Soars As Global Demand For Agricultural Goods Surges
A rise in the demand for agricultural goods is expected to propel the growth of the specialty fertilizers market going forward. Agricultural goods are products that are grown, harvested, or raised on a farm or other agricultural land. The demand for food and other agricultural products is increasing because of the increase in the world's population. To improve production levels with vital nutrients, specialty fertilizers are applied to plants for specialized activity. For instance, in June 2022, according to the report published by the Organization for Economic Co-operation, and Development a France-based intergovernmental organization, agricultural productivity would need to increase by 28% in the next decade to achieve the zero-hunger target. Further, global crop production is estimated to increase by 87% by 2030. Therefore, the rise in the demand for agricultural goods is driving the growth of the specialty fertilizers market.
Competitive Landscape:
Major companies operating in the specialty fertilizers market report are Koch Industries Inc., Nutrien Ltd., Agrium Inc., Yara International ASA, The Mosaic Company, CF Industries Holdings Inc., The OCP Group, EuroChem Group, Sociedad Quimica y Minera SA, Israel Chemicals Ltd. J.R. Simplot Company, K+S Aktiengesellschaft, Wilbur-Ellis Company, Nufarm Canada, Coromandel International Limited, Arab Potash Company, Haldor Topsoe A/S, Compo Expert GmbH, Sinochem Group, Valagro S.p.A., Haifa Group, Helena Agri-Enterprises LLC, Miller Chemical & Fertilizer LLC, Kugler Company, Suståne Natural Fertilizer Inc., Van Iperen International, Greenway Biotech Inc., Daymsa, Heliospectra AB, Sapec Agro S.A., Art Wilson Company, Rural Liquid Fertilisers
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Top Trend - Strategic Investments Propel Growth In Specialty Fertilizer Market
Major companies operating in the specialty fertilizer market are focused on strategic investments, such as the establishment of specialty crop nutrition production plant, to meet growing demand and expand their customer base. A specialty crop nutrition production plant refers to a facility dedicated to manufacturing customized and targeted fertilizers for specific crops, addressing their unique nutritional needs. For instance, in May 2023, Yara International ASA, a Norway based chemical company, commenced the construction of a state-of-the-art global production facility for specialty crop nutrition products and biostimulants aimed at enhancing yields and quality. Positioned as one of the world's largest plants for these critical agricultural products, it underscores Yara's commitment to addressing food security and climate change challenges. This strategic move enables Yara to capitalize on the rapidly growing specialty crop nutrition market, with the plant, situated near its existing Yorkshire, UK site, set to double the capacity of YaraVita products by the end of 2025, with potential for further expansion as demand requires.
The Table Of Content For The Market Report Include:
1. Executive Summary
2. Specialty Fertilizers Market Characteristics
3. Specialty Fertilizers Market Trends And Strategies
4. Specialty Fertilizers Market - Macro Economic Scenario
5. Specialty Fertilizers Market Size And Growth
…..
27. Specialty Fertilizers Market Competitor Landscape And Company Profiles
28. Key Mergers And Acquisitions
29. Future Outlook and Potential Analysis
30. Appendix
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