Specialty Fertilizers Market

Specialty Fertilizers market size reached USD 21.9 billion in 2021 and is estimated to reach USD 35.2 billion in 2029 and the market is estimated to grow at a CAGR of 6.1% from 2022-2029.

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Important Specialty Fertilizers Market Drivers

Specialty Fertilizers Market is primarily driven growing need to reduce nutrient loss, surge in the demand for high-efficiency fertilizers and Governments regulations promoting the manufacturing of specialty fertilizers. Governments across the globe, are setting up regulations on the manufacturing and labelling of specialty fertilizers, which is propelling the production of specialty fertilizers. For instance, the State of Michigan, U.S, has imposed regulations to promote uniformity in labelling of specialty fertilizers. Manufacturers need to label information such as N-P-K grade, name and address of the registrant and net weight on all bagged fertilizers, including packaged custom mixed fertilizers, to comply with State’s fertilizer regulations.

Farmers are increasingly adopting specialty fertilizers owing to its high nutrient efficiency, which will reduce their dependency on commercial fertilizers and helping them to produce high quality crops with minimal environment impact. In addition, precision farming is gaining traction in developing and developed countries for efficient fertigation, which will accelerate the market share in the overall Fertilizer Market. Precision farming involves the use of advanced technologies such as Artificial Intelligence and sensor which sensor systems, which helps in determining the quantity of water and fertilizer needed at a given point in time and deploys autonomous vehicles for delivering nutrients in required amounts. Increasing rate of the global population has surged the demand for food, which in turn, is encouraging the farmers to opt for highly efficient, concentrated, and tailor-made fertilizers to improve crop yield. However, limited awareness amongst farmers about brands manufacturing specialty fertilizers, is hindering the market growth.

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Type: Segment Analysis

Urea-Ammonium Nitrate (UAN) is one of the most preferred fertilizers for cereal production and irrigated plant cultivation. Asia-Pacific region has emerged leading Specialty Fertilizers Market for phosphorus due to high production of cereals and grains in countries such as India and China. As per our estimates, over 288 million metric metric tons of cereal were produced in India in FY 2022, increasing by 5% as compared to FY 2020. In addition, farmers are increasingly using UAN based fertilizers as it is helping them to save labour cost, increase yield and minimize residual amount of soil nitrogen, which is propelling the segment’s growth.

Crop Type: Segment Analysis

Fruits & Vegetables segment is driven by increasing demand for organic fruits and vegetables around the world coupled with rising concerns related to food security. Furthermore, consumers are becoming more health consciousness, as a result, they are adding food items in their diets which have high nutrition value, which is pushing the demand for organic fruits and vegetables. Farmers are focussing to adopt micronutrient fertilizers, which is projected to have a positive impact on segment’s growth.

Based on Application, Fertigation segment is projected to grow at a robust rate due to advancements in irrigation technology.

Farmers are preferring to use drip irrigation methods due to its labor-saving application method for fertilizers. Fertigation is considered to more efficient to grow fiber crops in countries, which are suffering from high baseline water stress.

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Regional: Segment Analysis

Asia-Pacific Specialty Fertilizers Market is driven by presence of major agro-economies such as India and China and subsidies provided by governments on the usage of specially formulated fertilizers. Europe Specialty Fertilizers Market is majorly driven by growing demand for organic products and high per capita incomes of consumers. In addition, in many countries across Europe, production of horticultural crops has significantly increased, which is pushing the demand for micronutrient fertilizer mixes and customized nutrient mixes in the region. Specialty Fertilizers are gaining traction in the South American region due to advancements in farming techniques across Brazil and Argentina, favourable climatic conditions and rise in the usage of specialty agrochemicals in the region. Rising demand for cash crops around the world, has accelerated the exports from South American countries. Over the years, Brazil, has emerged as a major producer of agricultural commodities in the international markets, it supplies over 50% of world’s soybean trade. As per our estimates, in 2022, export value of agri-business in Brazil reached USD 148.3 billion, increasing by 23%, as compared to 2021.

Top Market Players

Various notable players operating in the market include Nutrien, Ltd., Yara International ASA, Israel Chemical Ltd., K+S Aktiengesellschaft, Sociedad Química Y Minera De Chile (SQM), The Mosaic Company, EuroChem Group, CF Industries Holdings, Inc., OCP Group, and OCI Nitrogen, among others.

Key Developments: 

• • In September 2022, ICL introduced its Eqo.x, which is a biodegradable release technology for open-field agriculture. This solution is designed to help farmers to improve their crop performance by minimizing nutrient loss.
  • In June 2022, K + S signed an agreement with Sweden based company Cinis Fertilizer to cooperate in the synthetic production of potassium sulfate (SOP). As a part of the agreement, K + S will supply Cinis Fertilizer potassium chloride (MOP), as per their requirements. In return, the company can purchase up to 600,000 tonnes of potassium sulfate (SOP) every year from Cinis.
  • In March 2022, EuroChem Group AG, a major fertilizer producer, announced that it has acquired 51.48% share in a Brazil based distributor Fertilizantes Heringer S.A. This acquisition will help the company to expand its production and distribution capabilities in Brazil.
  • In September 2019, Nutrien, Ltd., completes the acquisition of Ruralco Holdings Limited (Ruralco) in Australia. This acquisition enabled company to increase the delivery of its products and services to the Australian farmers.
  • In June 2019, EuroChem Group announced that it has expanded its fertilizer production facility by opening a new fertilizer blending plant in Brazil. This production facility is situated in Araguari in Minas Gerais, on a land of 27,000 m2 facility.

Segments covered in the Report:

The global Specialty Fertilizers Market has been segmented on the basis of technology, type, crop type, application method, form, and key regions. Based on technology, the market is segmented into slow release fertilizers, coated & encapsulated, N-stabilizers, and chelated. Based on type, the market is segmented into Calcium Ammonium Nitrate (CAN), Urea-Ammonium Nitrate (UAN), Sulfate of Potash (SOP), Monoammonium Phosphate (MAP), potassium nitrate, and others.  Based on crop type, the market is segmented into oilseeds & pulses, cereals & grains, turf & ornamentals, fruits & vegetables, and others. The oilseeds & pulses segment is further categorized into canola, soyabean, and others. The cereals & grains segment is further categorized into wheat, rice, corn, and others. The fruits & vegetables segment is further categorized into citrus fruits, roots & tubers, brassicas, and others. Based on application method, the market is segmented soil, foliar, and fertigation. Based on the form, the market is segmented into dry and liquid. 

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Market Segmentation

Global Specialty Fertilizers Market by Technology

• • Slow-Release Fertilizers
  • Coated & Encapsulated
  • N-Stabilizers
  • Chelated

Global Specialty Fertilizers Market by Type

• • Calcium Ammonium Nitrate (CAN)
  • Urea-Ammonium Nitrate (UAN)
  • Sulfate of Potash (SOP)
  • Monoammonium Phosphate (MAP)
  • Potassium Nitrate
  • Others

Global Specialty Fertilizers Market by Crop Type

• • OilSeeds & Pulses
    • Canola
    • Soyabean
    • Others
  • Cereals & Grains
    • Wheat
    • Rice
    • Corn
    • Others
  • Turf & Ornamentals
  • Fruits & Vegetables
    • Citrus fruits
    • Roots & tubers
    • Brassicas
    • Others
  • Others

Global Specialty Fertilizers Market by Application Method

• • Soil
  • Foliar
  • Fertigation

Global Specialty Fertilizers Market by Form

• • Dry
  • Liquid

Global Specialty Fertilizers Market by Region

• • North America Specialty Fertilizers Market (Option 1: As a part of the free 25% customization)
    • By Technology
    • By Type
    • By Crop Type
    • By Application Method
    • By Form
    • US Market All-Up
    • Canada Market All-Up
  • Europe Specialty Fertilizers Market (Option 2: As a part of the free 25% customization)
    • By Technology
    • By Type
    • By Crop Type
    • By Application Method
    • By Form
    • UK Market All-Up
    • Germany Market All-Up
    • France Market All-Up
    • Spain Market All-Up
    • Rest of Europe Market All-Up
  • Asia-Pacific Specialty Fertilizers Market (Option 3: As a part of the free 25% customization)

• • • By Technology
    • By Type
    • By Crop Type
    • By Application Method
    • By Form
    • China Market All-Up
    • India Market All-Up
    • Japan Market All-Up
    • Rest of APAC Market All-Up

• • RoW Specialty Fertilizers Market (Option 4: As a part of the free 25% customization)

• • • By Technology
    • By Type
    • By Crop Type
    • By Application Method
    • By Form
    • Brazil Market All-Up
    • South Africa Market All-Up
    • Saudi Arabia Market All-Up
    • UAE Market All-Up
    • Rest of world (remaining countries of the LAMEA region) Market All-Up

Major Players Operating in the Specialty Fertilizers Market (Option 5: As a part of the Free 25% Customization – Profiles of 5 Additional Companies of your Choice)

• • Nutrien Ltd.
  • Yara International ASA
  • Israel Chemical Ltd.
  • K+S Aktiengesellschaft
  • Sociedad Química Y Minera De Chile (SQM)
  • The Mosaic Company
  • EuroChem Group
  • CF Industries Holdings, Inc.
  • OCP Group
  • OCI Nitrogen