Global Specialty Fertilizers Market is poised to reach USD 21.53 billion by 2021

The Global Specialty Fertilizers Market was worth USD 15 billion in 2016 and estimated to be growing at a CAGR of 7.5%, to reach USD 21.53 billion by 2021. Specialty Fertilizers work by allowing increased nutrient uptake in plants and reducing the nutrient losses to the environment. The demand for specialized fertilizers continues to increase as they prove to be an efficient alternative to conventional fertilizers. Additionally, they are also resource savers, have a negligible impact on the environment and have labour saving attributes.

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The relevance of specialised fertilizers is due to the fact that there is an increased demand for diversified food and the decline in the total cultivable land are posing challenges for farmers to maintain a healthy per acre yield rate. This calls for the use of efficient fertilizers, but at the same time concerns regarding environmental degradation due to industrial fertilizers is compelling farmers to prefer high-efficiency specialised fertilizers.

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The major driver of the global Specialty Fertilizers market is increasing human population. As human population increases the demand for land as well for food increases drastically. But the declining arable land poses challenges to food cultivation. Additionally, specialty fertilizers are much more efficient and require less labour than normal fertilizers. As for the constraints to the market, the main reason that hampers the growth of specialty fertilizer market is the comparatively higher cost of specialty fertilizers. Also, the use of specialty fertilizers has not caught on everywhere is its use in mainstream agriculture is still limited.

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Market Segmentation

Product Types
• Phosphatic
• Potassic
• Nitrogenous
• Y-o-Y Growth Analysis, By Product Type
• Market Attractiveness Analysis, By Product Type
• Market Share Analysis, By Product Type

Action
• Controlled Release
• Slow Release
• Y-o-Y Growth Analysis, By Action
• Market Attractiveness Analysis, By Action
• Market Share Analysis, By Action

Crops Application
• Crop-Based Application
• Non-Crop-Based Application
• Y-o-Y Growth Analysis, By Crops Application
• Market Attractiveness Analysis, By Crops Application
• Market Share Analysis, By Crops Application

Some of the major companies dominating the market, by their products and services include Yara International (Norway), Sociedad Quimica y Minera S.A (Chile), Haifa Chemicals (Israel), Sinochem Group (China), Agrium (Canada), The Mosaic Company (USA), Vardhaman Fertilizers and Seeds (India), Verdesian Life Sciences (US), Sungro Seeds (India) and the Potash Corporation of Saskatchewan

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