According to the report published by IndustryARC titled: “Specialty Fertilizers Market: By Type (Dry fertilizers, Liquid and Gas Fertilizers, Urea, UAN, Others); By Target Crop (Oilseeds, Crash crops, Alfalfa, Others); By Form (Granular, Powder, Crystalline, Liquid); By Application Method (Banded, Surface applied); By end Users (Agricultural, Hydroponics, Foliar Nutrition, Non -farm Use, Others); By Geography - Forecast(2018-2023)
Browse 101 Market Tables, and 42 Figures spread through 162 slides and go through an in-depth TOC on “Specialty Fertilizers Market (2018-2023)”
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According to a recent study from IndustryARC, the specialty fertilizers market is forecast to reach $71.49 billion by 2023 and is estimated to grow at a CAGR of 3.67%. With a decrease in arable land per person and rising population, crop yield rate must be increased in order to meet the requirements of food consumption. Thus, the rising demand for food is a key factor responsible for the growth of specialty fertilizers market.
Specialty fertilizers help to reduce potential nutrient loss and improve intake of nutrients through a gradual release; hence they are increasingly being adopted in various applications.
Asia-Pacific region holds a major share in specialty fertilizers market in 2017 due to population growth, increased purchasing power, increased health concerns, crop disease prevalence, growing market player focus, increased government initiatives, environmental concerns, and changing lifestyle. Asia Pacific's emerging nations are expected to be the fastest growing specialty fertilizer markets in the coming years. Specialty fertilizers usage in India is at a nascent stage. However, Indian economic growth and an increase in awareness regarding the advantages of specialty fertilizers is expected to increase demand for specialty fertilizers. In North America, the U.S. is expected to be the fastest growing region for specialty fertilizers during the forecast period 2018-2023. The factor such as the high cost of specialty fertilizers in comparison with nitrogenous fertilizers is a key challenge hindering the specialty fertilizers market growth in commodity crops.
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- The major players in this market include
- Potash Corporation of Saskatchewan
- Yara International ASA
- The Mosaic Company
- Israel Chemicals Ltd.
These top five companies holds more than 50 percent of the specialty fertilizers market, owing to the wide distribution network and brand reputation. The number of fertilizer manufacturers worldwide has multiplied. These manufacturers are actively investing to expand their market position and attract profitable deals. Major firms have spent large amount of money in developing efficient technologies and, at the same time, new firms are developing state - of - the - art technological innovations, leading to a tremendous increase in the degree of competition.
The end-user industries covered in the Specialty Fertilizers Market report include:
- Potassium Nitrate
- Granular NPK Fertilizers
- Potassium Sulfate
- Potassium Chloride
- Ammonium Nitrate
The overall market is also presented from the perspective of different geographic regions and the key countries for this industry. Competitive landscape for each of the product types is highlighted and market players are profiled.
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Organic Fertilizers Market
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