Specialty Fertilizers Market
Specialty Fertilizers Market (Type Analysis - Slow Release Fertilizers, Controlled Release Fertilizers, Nitrification and Urea Inhibitors, and Micronutrient Fertilizers; Crop Type - Cereals & Oilseeds, Turf & Ornamentals, and Fruits & Vegetables; Compound Analysis - Nitrogen Compounds, Phosphate Compounds, Potash Compounds, and NPK Compounds) - Global Industry Analysis, Size, Share, Growth, Trends, and Forecast, 2017 - 2025
Press Release :
Global Specialty Fertilizers Market: Snapshot
The global market for specialty fertilizers is displaying steadfast growth over the past couple of years. Across the world, rising demand for food to feed the rising population has necessitated to increase crop yield by means of modern farming practices. This is because agricultural produce that is obtained using conventional agricultural practices that employ regular fertilizers is insufficient to serve the food needs.
Apart from this, research initiatives and investments for the introduction of novel specialty fertilizers is also stoking growth of specialty fertilizers market.
A report by Transparency Market Research predicts the global specialty fertilizers market to clock a modest 5.7% CAGR for the forecast period between 2017 and 2025. Proliferating at this rate, the market will be valued at US$14,734.4 mn by 2025 from US$8,987.3 mn in 2016.
Controlled-release Fertilizer Type to Emerge Attractive in Future
The global specialty fertilizers market is segmented on the basis of a few parameters, viz. type, crop type, compound, and region. In terms of type, the segments into which the global specialty fertilizers market is divided are slow release fertilizers, controlled release fertilizers, nitrification and urea inhibitors, micro nutrient fertilizers, and others. Among them, the slow release fertilizers segment held the leading market share in 2016 mainly because of ease of availability and excellent cost to performance ratio. However, controlled-release fertilizers are likely to emerge as a key segment as they enable to predict rate of release of nutrients, water penetration, and rate of dissolution. On the other hand, nitrification and urea inhibitors help control leaching of nitrate and enzyme urea by keeping nitrogen and urea in ammonia form for longer time.
In terms of crop type, the specialty fertilizers market can be classified into cereals and oilseeds, turfs and ornamentals, vegetables and fruits, and others. Vis-à-vis revenue, turf and ornamentals segment occupied the leading share in the specialty fertilizers market in 2016. However, cereals and oilseeds segment is likely to expand at a significant growth rate over the forecast period.
Efforts to Adopt Sustainable Agriculture Practices Makes North America Leader
In terms of region, the global specialty fertilizers market can be classified into North America, Asia Pacific, Europe, Latin America, and the Middle East and Africa. Of them, in 2016, North America held the dominant share in the overall market in 2016. The region is estimated to account for the leading revenue contribution in 2017. In North America, increasing focus on sustainable agriculture coupled with a high degree of environmental awareness due to governmental regulations are mainly responsible for the adoption of specialty fertilizers.
However, Asia Pacific is anticipated to display the leading growth rate in the specialty fertilizers market over the forecast period. China is the leading domestic market for specialty fertilizers in the region. The extensive use of specialty fertilizers in turf and ornamental crops account for the significant share of China in Asia Pacific synthetic fertilizers market. India is a relatively new market for specialty fertilizers in the region.
Europe holds significant share in the global specialty fertilizers market due to presence of several key specialty fertilizer manufacturers in the region. Latin America and the Middle East and Africa are likely to display notable growth in the specialty fertilizers market in the upcoming years.
Leading players in the global specialty fertilizers market include Yara International ASA, Agrium Inc., The Potash Corporation of Saskatchewan Inc., Israel Chemical Limited, Sociedad Quimica Y Minera S.A., Haifa Chemicals Limited, and Coromandel International Limited among others.
Multiple Benefits to Drive Global Specialty Fertilizers Market
Specialty fertilizers refer to a diverse and rapidly growing genre of products with various attributes beneficial for the growth of crops. They come with one or more of the essential micronutrients or secondary and primary nutrients. These fertilizers are particles of small fertilizers assisting in the release of fertilizer nutrients into the crops and prevention of moisture as well. As such, it helps in the growth of the crops, which is why the demand for specialty fertilizers are expected to rise in the near future. This detailed report defines the global specialty fertilizer market in terms of end-users. The rise in demand for highly effective fertilizers, adoption of protected agriculture and precision farming, and ease of use is expected to bolster growth of the global specialty fertilizers market in the years to come.
Nutrient Loss in Plants and Rising Demand for Agricultural Yield to Work in Favor of the Market
Nutrient losses in plants can happen in many different ways, such as direct losses, atmospheric losses, runoffs, and leaching. Loss of nutrients is likely to leave a considerable impact on the environment, which could be devastating in times to come. Growing concern of nutrient loss is likely to trigger growth of the global specialty fertilizers market in the near future. In addition, constant rise in population has led to spiraling demand for food, though the availability of arable land is fixed. This factor is likely to increase the demand specialty fertilizers in the near future.
The loss of nutrients into the water sets off eutrophication of water body surfaces thereby promoting excessive plant growth. Eutrophication disturbs the ecosystem in water bodies, which is why the need for specialty fertilizers arises, as they are able to add just the required amount of nutrients and prevent over fertilization of soil.
Specialty fertilizers are hassle-free to use and are an extremely effective way to give garden or household plants the required amount of nutrients regularly. This factor is likely to add to the growth of the global specialty fertilizers market in the near future.
Global Specialty Fertilizers Market: Overview
This report analyzes and forecasts the market for specialty fertilizers at the global and regional level. The market has been forecast based on revenue (US$ Mn) and volume (Kilo Tons) from 2017 to 2025. The study includes drivers and restraints of the global specialty fertilizers market. It also covers the impact of these drivers and restraints on demand for specialty fertilizers during the forecast period. The report also highlights opportunities in the specialty fertilizers market at the global and regional level.
The report comprises a detailed value chain analysis, which provides a comprehensive view of the global specialty fertilizers market. Porter’s Five Forces model for the specialty fertilizers market has also been included to help understand the competitive landscape in the market. The study encompasses market attractiveness analysis, wherein applications are benchmarked based on their market size, growth rate, and general attractiveness.
Global Specialty Fertilizers Market: Scope of Study
The report provides the estimated market size of specialty fertilizers for 2016 and forecast for the next eight years. The global market size of specialty fertilizers has been provided in terms of revenue and volume. Market numbers have been estimated based on type, crop type and compound segments of specialty fertilizers market. Market size and forecast for each major type, crop type and compound have been provided in terms of global and regional markets.
Global Specialty Fertilizers Market: Research Methodology
In order to compile the research report, we conducted in-depth interviews and discussions with a number of key industry participants and opinion leaders. Primary research represents the bulk of research efforts, supplemented by extensive secondary research. We reviewed key players’ product literature, annual reports, press releases, and relevant documents for competitive analysis and market understanding. Secondary research also includes a search of recent trade, technical writing, internet sources, and statistical data from government websites, trade associations, and agencies. This has proven to be the most reliable, effective, and successful approach for obtaining precise market data, capturing industry participants’ insights, and recognizing business opportunities.
Secondary research sources that are typically referred to include, but are not limited to company websites, annual reports, financial reports, broker reports, investor presentations, and SEC filings, internal and external proprietary databases, and relevant patent and regulatory databases, national government documents, statistical databases, and market reports, news articles, press releases, webcasts specific to companies operating in the market, American Chemical Society, International Council of Chemical Associations, 4m Associations, and European Union. Primary research involves e-mail interactions, telephonic interviews, and face-to-face interviews for each market, type, and applications across geographies. We conduct primary interviews on an ongoing basis with industry participants and commentators in order to validate the data and analysis. Primary interviews provide firsthand information on market size, market trends, growth trends, competitive landscape, and outlook, etc. These help validate and strengthen secondary research findings. These also help develop the analysis team’s expertise and market understanding.
Global Specialty Fertilizers Market: Market Segmentation
The study provides a decisive view of the global specialty fertilizers market by segmenting it in terms of type, crop type, and compound. These segments have been analyzed based on present and future trends. Regional segmentation includes the current and forecast demand for specialty fertilizers in North America, Europe, Asia Pacific, Latin America, and Middle East & Africa. The report also covers demand for individual type, crop type, and compounds in all the regions.
Global Specialty Fertilizers Market: Competitive Landscape
The study includes profiles of major companies operating in the global specialty fertilizers market. Key players in the specialty fertilizers market include Yara International ASA, Agrium Inc., The Potash Corporation of Saskatchewan Inc., Israel Chemical Limited, Sociedad Quimica Y Minera S.A., Haifa Chemicals Limited, Coromandel International Limited, among others. Market players have been profiled in terms of attributes such as company overview, overall revenue, business strategies, and recent developments.
The report segments the global specialty fertilizers market as follows:
Crop Type Analysis